Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698830436247.pdf (Sierra Leone)
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'HE REPUI}LIC OF SII,RRA LEONE antl Sl]LI HYDROPOIIER I,JM I'I'ED (as the Company) and JOULf,, BUMBUNA (HOI,DINGS) LIMITED and r:\encv sraRvrcns COMPI\NY LIMITED (as the Shareholders) I1\{PLEM ENTATION AGREEM ENT rclating to thc Bumbuna II Project t I !i.l t w ER t\ I 62.125-+5:l-Y I (l.t!

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'!t " "'NOrrvl!udul].Nl oNV sNorrNH30 eSBd SJ,\3.1\()J iI() 1'I{I\'.1 '8 .L '9 '9 t e Z I csne[.-) THIS IMPLEITENTA'I'IOI AGREEIIENT is madc on thc ,_* day of _ BETWEEN: (t) THE GOVERNMEN'I'Ot'THE REPUBLTC OF SIf,RRA LEONE, AC'I'INC BY THE MI:\IISTRY ()F I.
'INANCE AND ECONOMIC DEVELOPIvIENT AND BY TIIE llllNlS'l'RY ()F l:NERGY (lhc "Govern ment'r): (2) SELI HYDROPOIVER LIMITED, a private company incorporated in Siena Leonc, with its rcgistcred ollicc located in 43 Big Watcrloo Street, Frccto\4n Sicrra Lconc and company numbcr SL3l l0l6SEL|H00877 (the "Cornpany"): and (3) JOUI-,E BUMBUNA (HOLDINGS) LIMITED.
a company incorporatcd under thc laws ol- Mauritius and E,r..ERGY SERVICIIS COMPANY I-!M|TED, a courpany incorporated and registercd in Sierra Leone rvith colrpany nuntber Sl.E05l0l6ENERG 1600463 u,hose rcgistcred of'ficc is at 34 Main Motor Road.

Juba Ilill, h*rccbwn, Sicrra Lconc (caoh a "Shareholdcr" and togethcr thc "Shareholders").

Each a " Part-v" and together the " Partie$".

PRE,\}IBLI, (A) Thc Pa(ics hnvc agrced that thc Company shall devclop, flnancc, construct, cornrnission.

own.
own.

opcrate and nraintain Buurbuna Il.

which comprises the llurnbuna Extcnsion and thc Yibcn (each as dcfincd below) pursuant to the Project l)ocuments and Finance Docurnents (each as defincd bclow).

(B) Thc Partics have also agrced to detenninc by a given date prcscribcd in this Agrccrnent thc allocation ofthc responsibility betrvccn thc Govcrnmcnt and thc Company to construct the Project Transmission Works (as defincd bclow).
Thc Parties have agreed drat the Govsmmcnt is rcsponsible for construction of the Covenunent Transmissiou Works (as defined bclow).

(C) The Offtakcr desires and intends to purchase the capacity, net electrical output and ancillary services with rcspect to the Plant pursuant to the Power Purchasc Agrcement.
(D) Becausc thc cnergy gencrated by the Plant will be clean and will avoid thc neccssity to construct powcr geucrating t'acilities that would produce significant greenhouse gas cnrissions, the Govcrnment wishcs to havc thc option to: (i) dcnronstrate that thc Prcjcct will rcducc grecnlrousc gas cmissions below what otherwise would have occurrcd, and (ii) gencratc rnarketable grccnlrcusc gas cmission reduclion units, irr each case with the cooperation of tlre Cornpaly.
(E) To promotc the implcnlcntation ofthe Project.

and in exchangc tbr thc promises and agrcemcnts of thc Conrparry pursuant to this n grcement, thc Govclrrmcnt agrces to provide cerlain incentives and each Pany undenakes ccrtain obligations as providcd in this Agrcement.
NOw, THEREI'ORE, in consideration of the mutual benefits to bc tlerived and the representations aud rvarranties, conditions and pronrises herein containcd, and intending to be lcgally bound, thc Partics hcreby agrcc as lbllows: I. l. I I)EFINI'TIONSANDI\TERPRET.A'TION De finitions Capitaliscd tonns uscd in this lnrplcmcntation Agrccrnent shalt ha in the Porver Purchase Agrcement unless otherwisc dellned hcrein.

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"Bumbuna I O&M Contrsct" means the operations and maintcnance agrccmcnt in connection rvith Bumbuna I to bc entered into betrveen the Govemmcnt and an Affiliate of $e Cornpany.

"Bumbuna Il" mcans thc Bumbuna Extcnsion and Yiben and all the facilitics and equipmcnt rclating thereto.

"Bunrbuna Watershcd Managenrcni Authority" has the rneaning given to that term in Clausc 3.1 O (Re.

:e rvo i r M a tuge,nufi).

"CEC Project" means the l28MW Freetown generation project in Siera Lcone.
"CO2c" rneans the base rchrence for indication and dcternrination of tlre global rvanning potential of (illGs in units of carbon dioxidc as determincd by the Intcrgovcrnmental Panel on Climate Change.

"CDM Executivc Board" urcans the executive board of the Clean Devclopment Mechanism establishcd pursuant to thc hrternational Rules.
"CER'i rncans a unit issucd pursuant to Article 12 of the Kyoto Protocol and thc lnternational Rules, cqual to one n.retric ton ofCO2c, calculated in accordance $ith the lntcrnational Rules.

"Change of Control" mcans an event or circumstancc whereby eithcr or both of Joule Burnbuna (Holdings) Lirnitcd and Joulc Afi'ica ccasc to havc Control of thc Company.

"Claw Back Costs" has the mcaning given to that tenn in Schedule 4 (Tenninatbn lrrior k) Financial Closirtg).
"Clean Development Mechanism" or "CDM" means the market-based mechanisrn ret'erted to in Articlc 12 of the Kyoto Protocol, created to encourage the cooperation bctween developcd country cntities and developing country cntities and to accclerate reductions of grcenhouse gas crnissions in tleveloping countries.
"Company Action or Inaction" mcans any action or inaction o[ thc Company or its At'tiliatcs, rvhich rcsults iu a brcach by the Company of its obligations undc'r this Agrecmcnt, the Powcr Purchasc Agrccmcnt or any othcr l'rojcct Documcnt or Finance l)ocumcnt to which it is a part!, and which action or inaclion has an Advcrse ltroject EtTcct (unless and to the extcnt such action or inaction is caused or contribuled 10 by a Govemmcnt Action or Inaction).
"Company Evcnt of Default" has thc mcaning givcn in Clausc 15.2 \Ternination .fir Cornpany l!vcnts oJ' Defoult.fbllo*'ing F i nanciul C lo.ring).

"Conrpany Parties" means caclr of thc Company.

thc Shareholders.

dircctors, offrcers.

crnployces, rcprcscntativos, Affiliates, agcnts.

advisors, contraclors or liccnsccs and thcir respective dircctors.

represcntatives, officcrs and employees.


"Consent Party" means thc Company (aod its technical and environmcntal advisom), the Finance Padics (and thcir tcchnical advisors), the Sptrnsors, thc ljPC Contractor (and its sub-contractors).
thc O&N{ Contractor (and its sub-contractors), additional nraintcnance providcrs to the Project (and their sub-contractors) and any other conlractors of thc Company in connectiort with the Projcct as rnay be agrccd by the Partics, acting rcasonably, and providcd that thc Cornpany notitics the (iovcmnrent that such other contractors arc nccessary for the Project (including fot'the (^CI\ l6:l:5'l-5]-v l(r.0 -5- 7G105{1$1r s t!fi Cornpany.
its Atfiliates and subsidiaries to undcrtake its obligations in relation to the Resettlcment Action Plan and under thc Environmental and Social Action Plan).

"Consents" nrcans the approvals, consents, authorisations, notifications, concessions, acknorvlcdgcmcnts, licences, pcrmits or ilcms of similar eflcct including the Initial Consents which arc rcquircd from any Govcmrncnt Authority undcr any Applicable Law (for any or all of the Conscnt Parties.
"Contractor" nreans any Person with whom the Conrpany contracts for the provision of goo<Is or scrviccs rclating to thc cngincering, dcsign, construction, commissioning, opcration or maintenance olthe Projcct.
"Control" means either direct or indirect control, and: (a) a body corporate is dircclly controlled by anothcr body corporatc ifi (i) (ii) thc lattcr body corporatc owns more than lilly pcr ccnt (50%) of thc voting rights attached to the issucd share capital ofthe first mentioned body corporate; or the lattcr body corporatc has the powcr to appoint or rernove all or such of the mcnrtnrs of the board of dircctors or olhcr govcming body of the tirst mcntioned body corporate as are able to cast the majority ofthe votes capable ofbcing cast by the mcmbers of that board or body on all, or substantially all, matters or othcrwise to control or havc thc power to control the policics and allairc of thc tirst mentioned body corporate; and (b) a body corporate is indirectly controlled by anothcr botly corporatc if a scrics of bodies corporatc can bc spccificd, bcginning with the lattcr body coqlor,rte and cnding with the first mentioned body oorporate, so rclatetl that each body corporate is directly (lontrolled by one or more ofthe bodies corporate earlier in the scrics.
and "Controlled" shall bc construcd accordingly.

rrDirect Agrcement'r lreans an agrccrncnt rclating to thc Projcct between (i) Govemment, anrJ./or auy Covemnental Authority.

rurd/or any cntity Controlled by thc Govemment or any Govcrnmcntal Entity.

(ii) the Conrpany and (iii) ths Financc Partics and which addrcsscs mattcrs comnronly addressed in a direct agreemcnt in a project financc transaction tbr a sinrilar asset, in a similar jurisdiction and with similar finance partics.
"Dollart or "US$" means thc curency that is the lcgal tender olthe Unitcd States olAmerica. "

Dcsignatcd Operational Entity" means: (a) an entity designatcd by the Meeting of the Parties to the Kyoto Protocol, based on the recornmendation of the CDM Exccutive Board, that may validate proposed CDM project activitics: or (b) in tlrc case ol non-CDM projects.
is rcoogniscd by the voluntary grcenhouse gas cmission tc<luction standard adoptcd by the ER ProJcct as authorised to verify and ccrlify GI{(i Rctluctions {fiY \-, fli)s/ l6lll5-{-5-l-Y lo.

(l - (r- t.\ w "Dcvclopment Price" has the meaning given to that temr in Schedule 4 (Termination prior to Fiuancial Cbsing\.

"Dispute" mcans any disputc, differcncc or clairn ofany kind or type, whether bascd on contract.
tor1, statutc, regulation or otherwise, arising out of, relating to or connected with this Agreement or its subject matter, existencc.

negotiation.

interpretation, validity, perlonnance.

breach.

tcrmination or cntbrccability (including uon-contractual disputcs or clairns), or any opemtions carried out puniuant to this Agreement.

"Emission Reduction Purchase Agrecment" mcans a contract for the sale and purchaso ofGHG Rcductions rcsulting from thc liR Projcct.

"Jlmission Reductions" or'r!


:Rs'r means GIIC lletluctions which have becn vcrified anrUor ccrtificd by a Designatcd Operational Entity iu cornpliance with standards cstablished in thc Intcmational Rulcs.

"Enerry Scrviccs Company Limited" rneans Encrgy Scrvices Company Limited, a company incotporated and registered in Sierra Leonc rvith company nunrber SLE05l0l6ENllRGl600463 wltosc registered officc is at 34 Main Motor Road, Juba IIill, Freetown, Sicrra Leone.
"Environmental Flow Porverhouse" has thc rncaning givcn lo that tcrm in schcdulc I (Descriptiotr oJ'Plunt und l.-ctcilitie.s) of the Power Purchasc Agreemcnt.

"ER Project" meals the activitics undertaken in conjunction with the Project that aim to generate and issuc ERs, CERs and, or VERs, whethcr or not actually issucd.
"ER Project Participant" mcans an emission rcduction projcct participant tbr thq purposes of Section J. Paragraph 66(b) of Dccision ll/CP.7 ofthe Manakesh Accords being a sovereign state rvhieh has signcd and ratifisd lhe Kyoto Protocol or any privatc cntity or public cntity authoriscd bv such sovereign statc to pa(icipatc in the ER Projcct and to make decisions on the allocation of CERs.

or ERs or VERs as thc case uray be.

Iiom the ER Project.

"Encumbrance" nrcans any clainr, option.


chargc (fixcd or fioating).

nmrtgagc.

licn.

plcdgc, cquity.

encurnbrancc, right to acquirc.

right of pre-enrption, right oi tirst rctlsal, title retention or any other third party right, or other sccurity inlcrest or any agreement or arrangemcnt having a sirnilar effect or any agrecment to creatc any of the foregoing and ,Encumbered" shall be construed accordingly.
"Environmcntal ond Social Action Plan" nreans lhc cnvironmcnlal and social action plan to be developcd by the Company in relation to thc Project undcr Clausc 2.6 (Envixtnnental Protectiou, lluhh, Rcsettlernenl, und.Sr/i,n1, and as suclr plan rnay bc updated from timc to tinle undcr thc clausc.
"l)xpropriation of Control" mearrs a Share Expropriation Event which results Sharcholders: in the (a) no longcr directly or indirectly owning and Controlling the Company; (b) no longer having the Jrorvcr to direct the affairs ofthe Company; or (c) being preventcd tiom excrcising the powcr to direct the aflairs ofthe (brnpany.
l6:.r25.4-5,1'rl{1.0 -1 ryYr ,*ot*,., $ Nre "Finance Party guidelines" tneans any World Bank guidelines that would apply to thc Project in thc cvent that the Finance Documents itrclude a partial risk guarantce issued by the World Bank.

"!
'inancial Closing Longstop Date" rneans thc date t'alling cightcen (18) rronths aftcr thc latcr of thc date of satisfaction ol thc Interim Milestone and Ratification, provided that this datc shall be cxtendetl on a day-for-day basis for cach day by which the Cornpany is dclayed or prcventcd lrom rcaching Financial Closing duc to any ofthc following cvents, unlcss antl to thc cxtcnt causcd ty a Cornpany Action or lnaction, alone or in cornbination: (a) atty breach by the Olliaker of its obligatiorrs undcr any Projcct Docunrctrt, or any Finance (b) (c) (d) (c) I)ocumcn!
to which it is a party; anv Foroe Majeure Evcnt: an Invalidity [.vent; any Clrangc in Law or'fax; whcre thc land Lcasc Agreemcnt (and/or any othcr Sicrra Leonc Documcnt rcquircd to bc ratificd by the Parliament of Siera Leone) is not ratified by the Parliament olSierra Leone by the datc falling ninety (90) days aftcr the satisfaction of the Intcrim Milestone in accordance witlr Clausc 3.2.2(c) (Za nd, I.ond Righes and l+Iineral oxuership'); (t) where it is otherwise cxprcssly providcd that thcre shall be such a timc extension in this Agrcclnellt or thc Power Purchase Agrccmentl and (g) whcrc thc World Bank is no longcr willing to pmvidc a partial risk guarantcc in respcct of invcstment in Sierra Leone and the Govemmcnt has not notified thc Company that it does not considcr suclr cvenl to be a suitable ground for extensioll of thc Financial Closing l.ongstop Datc.
"Financing'l'erm Sheet" urcans the tonn sheet sotting lbrth thc principal conrrnercial tcrms tbr all or parl of the proposed long tcrm financing ol'the Projcct betwccn the Cornpany and the Finance Partics, including tlrc nraximum principal arrounts and intercst rate or rates and thc maxirnum dcbt:cquity ratio and basis upon rvhich cquity will bc contlibutcd alongsidc dcbt (c.g.

on a pari passu basis witlr the tcnn debt) and the maximum tenor of the tenn debt.
"Forcign Currcncy" mcans irly currcncy other than Siema Lconc Leorrcs.

"Ceneration l,icence" means a gcneration liccncc to bc issucd to thc Cornpany by a Govcrnmcnt Authority pursuant to Applicable Law (in rcsponse to a Proper Application tbr the generation liccnco by thc Company iu accordance with Clause 5.1).

"G}IG Reduction" mcans thc rcmoval, lirnitation.

rcduction.

avoidancc.

scqucslration or mitigation tiorr the atmosphere of one metric ton of enrissions of CHGs rneasured in CO2e.
"()ood Operating Condition" lreans, as at the Transt'cr Date, thc condition that the Plant would have to be in so that it could rrasonably be expected to be capablc as at that date of achieving cflicicncy and availability levels which fall within thc rangc of perfonnance levels that could rcasonably be expected to be achieved by the Plant given its operating history and other prevailing circurnstances, including any Governmcnt Action or lnaction or Ofllaker Action or Inaction or Force Majeurc Event.
but assuming for the purposc of determining such range of reasonably l6ll15-4-5,1-vl(, {l -8- UoK [$ 70-t05trl{ I-,s w expected efficiency and availability levels that thc Plant had been opcrated and maintained by the Cornpany during thc Term in accordance with Good Industry Practice.

"Covernmcnt Action or lnaction" mcans any action or inaction of thc Governnrcnt or any (lovernnlent Aurhority.

or any cntity rvhrch is Controlled by the (iovemment or any Covemment Authority.
which rcsults in a breach by the Govcmment of its obligations under this Agreement, the Offtakor of its obligations under the ltowcr Purchase Agrccmcnt, or a brcach by thc (iolcmrncnt, thc Otliaker or the rclcvant Covemment Authority (as applicable) under any other Projcct l)ocument or Finance Documcnt to which it is a party and which action or inaction has ar Advcrsc Projcct Etlcct (unlcss and to thc cxtent such action or inaction is causcd or contributcd to by a Conrpany Action or Inaction).
"(iovernnrcnt Evcnt of Default" lras the meaning given in Clausc 15.3 (Tcrnination .fbr Governnrcnl Et'et s ol Defttult.lblkn'ing Finotx:iul Clositrg).

I'Governmcnt Parties" means each of the Govemnrent or any Govemment Authority and their slrareholders, directors, ollicers, employees.

represcntatives.

Afliliatcs.

agcnts.

advisors, contraotors or liccnsccs and thcir rcspcctivc dircctors, rcprcsentativcs, officcrs and crnployees.
'tGoverument Rcsponse" has the rneaning gir/en to that term in Schcdulc 5 lTronslbr on Termination).
"Governmtnt'f ransmission Works'r rneans: (a) (b) (c) (d) two new 225kV substations (one adjacent to the Bumbuna Flxtension and one adjaccnt to Yibcn), four lecders (tu,o at Bumbuna Extension and two at Yiben) connecting each ofthe four Units to their rcspcctive substations; a single circuit 225kV overhead line between the nerv Bumbuna Extension substation and the nerv Yiben substation: a doublc circuit 225kV otcrhcad linc to conncct thc ncw Bumbuna l:xtcnsion substation to thc WAPP C'LSG substation at Kanrathor (Dumbuna); and a siugle circuit 225kV overhead line to connecl (i) the Yiben subs(alion to the WAPP CLSC substation ai Fadugu (Yibcn) and (ii) the WAPP CLS(i substation at Fadugu (Yiben) to Frcetown, as nray bc updated in accordancc rvilh Clause 3.4 l'l'ronsnis,sion ll"orks).
"Ilandover Conrnlittee" has the nreaning givcn in Schedule 6lllondover\. "

Host Country" mcans Rcpuhlic of Sicrra Lconc.

"lA Affected Party" has the meaning given to that temr in Clause 14.1 (Re:liel).

"lA Direct Agrecmcnt'r means thc Dircct Agrccmcnt relating to this Agreement to be entered into betwccn thc Colnpany, the Government, the Shareholders and the Financc Partics.

"lA Tcrmination Notice" has the meaning givcn to that tcnn in Clausc 15.5 (l'erminutiott p'occdu'el.
"IDA" has thc tncaning givcrl to that term irr Clause 6.1 \Partial risk guarontce).

I (':-1la-4-5-1-v !

0.0 -9- 1 tN/^ ?0J056lil.ll s $t "lnde;rendent Accountant" has the mcaning givcn to that tenn in Schedule 5 (Transfcr on Tannination\.

"Independent Engineer" has thc mcaning givcn to that tcmr in Schcdulc 6 \llandover).
"lnterim Milestone, means the Conrpany having satisfied each of the tbllowing: (a) the Company has selectcd a prcfbrred couutcrparty to be the EPC Contractor and has agrccd a tcrm shcct including all thc principal commcrcial tcrms (including.
for thc avoidance ofdoubt, price and liability) fbr thc EPC Contract tcmrs with such person; and (b) the Conrpany has agreed a Financing Term Sheet wilh Approved Lenders tbr thc provision of sixty per cent (607n) or more of the then anticipatcd long term dcbt rcquirenrcnLs olthe Project at Financial Closing.
"lnterim Milestone Longstop Date" nreans the date lalling eighteen ( I tl) months alter the Signing Date, provided that this date shall bc cxtcndcd on a day-for-day basis lor cach day by which thc Cornpany is dclaycd or prcvcntcd from satisfuing thc lntcrim Milcstonc duc to any of the lollowing events or circumstances unlcss and to the extent causcd by a (.
'ornpany Action or Inaction: (a) (b) (c) (d) (e) any brcach by thc Offtakcr of its obligations under any Projcct Document to which it is a partyt any Forcc Majcure Event; an lnvalidity Evcnt; any Change in Law or Tax; and where it is otherwise cxprcssly provided that there shall be a tirne extension in this Agreement.

"lnitial Consents" mcans thc Conscnts rcquircd to bc obtaincd by thc Conrpany lionr any Covemmcnt Authority, spccificd in Schedule I (lnitiol Conse nts).
"lntcrnational Rules" rneans the UNFCCICI, the Kyoto Protocol, the Marakcsh Accords and any tclcvant <lecisions, guidclincs.

motlalitics and proccdurcs madc pursuant or issucd lherclo, as anrendcd f'ronr tirnc to tinlo, including auy successor or supplcmentary international agreements.
"lnvalidity Eventr rneans the issuance ola decision hy thc Covemnrent or any Govcmnrent Authority, including any judicial authority or rcgulator in Sicrra Lcone, that any Sicna Lcone I)ocument, or any nraterial part of'such any Siena Leone l)ocument is illegal.

unenlbrceable or othcnvisc invalid.


pmvided that an Invalidity Event shall only bc decmed to continue until such tlecision is staycd, vacalcd, or overturncd, or otherwisc rendcrcd lcgally ineffcctive, or unlcss and until, without bcing in brcach of Applicable l-aw.

the Covemment.

thc Offtaker and the Company arc able to.

and aclually do.
and aclually do.

contiuue to pertbmr their obligalions turder the rclevant Sierra Leone Docurnents notwithstanding such decision and without any material atlverse irnpact on the Clompany.

or other$'isc they havc agreed and cntcred into a binding amcntlmcnt agrcemcnt or replacement agreement lhat rerroves thc provisions in the rclcvant Sierra Leone Documenl that originally gavc risc to thc Invalidity Evcnt.

I 62_',11-5 -t-5.1-!


I (r-0 - 10- ro-rusr'uarr{S kLw U s "lssuer" has the tncaning givcn to that tcrm in Clausc 6.

| (Partiol risk guaruntee).

"Joulc Africa" means Joule Africa Limited.

a limited liability company established in Mauritius with company nunrbcr 098000, rvhosc rcgistcrcct office is at I l'l' floor, Mcdinc Mcrvs, La Chausscc Street.

Port Louis, Mauritius.


"Kyoto Protocol" rneans the protocol to the UNFCCC adopted at the Third Cont'crcnce of the Parties to thc UNFCCC in Kyoto, Japan on Dcccmber I I, 1997, a.s may bc amcndcd fi'om tirne to time.

"Land Lcasc Agrccment" lta-s thc rneaning givcn to that temr in Clause 3.2 (Lancl, Land Rights awl jflincn Ov,'ntrship\, "Lapsc of Conscnt" mcans any Consent: (a) is revokcd by the Govemment Authority; (b) (c) (d) is not issuet, rcncwed or, having lapsed.
is not reissued, within the period stipulated under Applicablc Law, after a Proper Application has hccn duly rnade by thc Company lbr that Consent to be issued, renewed or reissued.
as thc case rnay be (or if such no period is stipulated under Applicable Law, as soon as reasonably practicable and in any casc within sixty (60) days of such a Propcr Application or such longcr period as the Parties rnay, acting rcasonably, agrec) and, as a rcsult, thc Cornpany's ability to perform its obligations under the Project Documenls or Finance Docunrcnts is rnaterially and advcrsely affccted; is made subjcct.

subscqucnt to its $ant.

upon rcncwal.

rcissuc or othcnryise.
to any tcmrs or conditions which matcrially and adverscly affect the Company's ability to pertbrm its obligations undcr the Project Documents or Fiuance Documents; or in thc casc of a custonrs clcarance or sirnilar Conscnt requircd solcly in ordcr to import any itcrn requircd lor the dcsign, oonstructi()n, installation, operation and mainlenance of the Proiect (as applicable) is not issued rvithin the pcriod stipulated undcr Applicable Law aftcr a Proper Application by the Company or thc llPC Contractor (or if such no pcriod is stipulatcd under Applicable Law, as soon as reasonably practicable and in any casc within sixty (60) days ol'such a Proper Application or such longcr pcriod as the Parties nlay, acting reasonably, agrce).
lixccpt, in cach of thc above circurnstanccs, wlrcrc suclr circurnstancc has ariscn duc to (i) Conrpany Action or lnaction, (ii) the exercisc by the Govemment or any Govemment Authority of its powers undcr the Applicahle Law unless such exercisc is owing to grounds which discrirninate against thc rclcvant I'rojcct Party: or (iii1 a lailurc by thc rclcvant l)rojcct Party to cornply with any condirions on which the Cbnsent was originally issued.

"Lenders" mcans thc lcnders to thc Company providing financing.
hodging and'or crcdit support instruments lor the Project pursuant to tlle Financc Documents.

"LIBOR" means tlrc l-ondou lntcrbank Olfcred Ratc lbr Dollars as of I lam (London timc) on the tirst Uusincss l)ay ofcach tnonth for a period ofthrcc (3) tnonths as tlisplayed on pagcs LlllOROl and LIBORO2 of thc'l'hornpson Reutcrs scrcen (or any rcplacerncnt 'lhomson Reuters page which displays tlrat rats).
or on the appropriate page of such othcr infomration servicc which publishcs that ratc f'rom tirrro to timc in placc of -l'homson Rcutcrs.

-lt- w l$ $i, "Loss" rneans any and all loss, damage, liability.

payrncnt or obligation (excluding any indirect or consequential loss, damagc.

liability, paynent or obligation, loss olprofits), and all rcasonablc out of pockct cxpsnscs (irrcluding rcasonablc lcgal iccs).
"Marrakesh itccords" rneans Decision 2lCP.7 to Decision 241CP.7, inclusive, of the Seventh Confcrencc of thc Parties to the UNICCC.

as adopted by thc Cionfcrence of the Parties acting as thc Mccting of thc Partics to the Kyoto Protocol in Montrcal, Canada in Deccmbcr 2005.

"Ministry" rneans thc Ministry of Energy of the Govemment or its succcssor responsible lor electlicity.

"Net Dcbt Outstanding" has thc rneaning givcn to thc tcrm in Schedulc 5 (Transfer on Ternination'1.
"Nerv Financing Documcnt" lras thc mcaning gir,en to the tenrr in 2..1.4 {l'inantirtg). "

r-on-'fcchnical Dispute" mcans any Disputc arising out of or irr connection with the intcrprctation of law or thc intcrprctation of this Agrccmcut or thc Power Purchasc Agrecmcnt, thc validity or existcncc of this Agrccmcnt or any rights or obligations under this Agrccnrcnt or the Power Purchasc Agrccmcnt.

and any Dispute rvhich is not exprcssly requircd to bc relened to.
or scttlcd by, cxpcrt dctcrrnination undcr this Agrccmcnt or thc Powcr Purchasc Agrccmcnt.

means the entity which shall (pursuant to the Power Purchase Agrcement) purchase from thc Company thc Net Depcndablc Capacity and take the Net Electrical Output with respect to thc Pmject.

"Offtaker Parties'r mcans cach of the Offtaker, its shareholders, directors, officers, employees, rcpreseDtativcs.
Afliliates, agents, advisors, contractors or licensees and their rcspectivc dircctors, rcprescntatives, olTicem and cmployees.

"Ownership Structurc Chart, means thc chart sct out in Schedule 7 (Ownership Stnrcture Charr).

"Qualified Investorrf has lhe nreaning givcn to that term in Clause 8.3.10 (Restriction on Transfer of'Sharcs).

"Parly" uteans auy of the signatories to this Agreeurent.

"Payment Notice" has the mcaning givcn to that tcnn in Sr:hedule 4 (Te nnination prior lo [.'
i ua uc i o I C'lo,u'rrg).

'rPerson" means an individual, corpomtion, partnership, joint venture, tmst.

unincorporated organisation.

aly (iovemment nuthority or any olher legal entity. "

Permitted l ndebtcdness" nrcans finrncial indcbtcdncss: (a) arising undcr any Projcct Documcnt; arising under any unsecured loan from any Shareholder or any Affiliate of any Shareholder; or in rcspcct of any tradc payables arising in thc ordinary coursc ofbusincss.
(b) (c) l6ll:5-.1-53-v10.0 - 12- W Ilz $ v6 rs -i\ {l Iflri9i0r-01 \vn -il- 01)i.t-f!-f-5afa9l 'ccr8ts,{uru scrlJBd crll su elEp roluI r[Jns ro 'carloN t,otluulu]JiJ FJeurullaJd leql ut peutJads {lradoid elep uorlBuruucl pcsodoJd eql ol eJrloN r.ronuuruucJ_ {lt[rruller(l ucAl8 u Jo ,tlrcd Surtln8.Iop ?
fq (Z'l '81 csnelS qu^1 acuBplocc8 ul) ldloJcJ paluJap lo ldtar Jo clup ulo{ 3ruu .Io pouod cqt 'aJrloN uouuuruuJl ,&eurturlsr4 I ol uortelcl ur 'surrctu ,,poya4 ,{poutag,, '\Sutsol) lDpuoutJ ot -roud uotytuttu.,,al\ ?
clnpcqrs ul uuol lurll ol ua.rr8 iuruucur etll surl .r,{uud luu^cle1,, '(suatq .i1rpryt,tttI puD sIu)tutDo1 1:tttlit.trl uro1t;tt Jb uo,uD{tlnyl t'Z'Z csnBIC ur uucl luql o1 uc;rr8 Suruusru rqt srq ,roluq dols8uol uollstu$su,, 'cuoa'I euers .lo lucu[rrlJr?d cql ,{q luauceJ8V cs"qcJnd io^{od cqt pue luaurca]iV strll.lo uorletUrlEJ orlt susJru,,uo!lBrUllEU,, 'uoqulsrBcl snoEopun drru Jo'!5uaurvJo salels palrun atpJo IJV saurunurul u8rara,rog u8rarog aql ro urop8ury palrun .rlt Jo tcv ,(1runuur1 aluls eqt rspun sc3cI,\lrd rBlnsuor pue crlutuoldrp aqr ,(q patcclord slasse Jo tuautuJJ^oc aqt .
;o ,tlrctlord PueloJ-cruaJJp Jsqlo puu usJsJre suDcr.fl ,,slossv palJaloJdrl 'ltrottDutuJaJ.

uo ra.l'suD.tJ) g alnpcqJs ur uucl lcql ol oa,li iurueaur oql srrl ,,Jr!rd escqrJnd pcsodor;,, ',(lrtua :o ,(ye6 tca[o.r4 tuenclu lEqt Jo JIBqoq uo .rtr ,(q olquAed sccl puu sa8ruq:r uorturlsrurtupe puE uoqectldde tue^tlcr lls ,(q pcruuduroccu puu /\18'I alqellddy aqlJo slueu lnbs: lernpaco:d pue qll-ir\ acusplocce ur 'leuuBuJ.
(1aurg e ur luasuo] e roJ ,(tltua luunalcr raqlo fue:o e^rluslsqns ,ft:e4 loelo:4 uJoJluqaq uo lr,(q uorlerrlddr uEJo uotssluqns oqt suucu ,,uo1;ur;1ddy .rodo.r4,, 'ql ol uorlelsqns uorsuslxl €unqtuntJ '(eunqun8) roqtetue) lr uorlslsqns DS-lJ ddvi\/\ aql orll ljruuol ol Jull pucqre^o AIszz lrnalrJ ilqnop c ^\ou puo uoqslsqns uorsualxS sunqunS /tlau aqt ue3/r\laq cull pEaqlc^o Algze llnsrr3 rlEurs u ^tou puu :uorlulsqns ucqtA aql :suollelsqns altlreds Jraql ol qtun lno.l eql;o qrec flugccuuoc (ucqrtr 1e o^U pus uotsu.llxg uunqung lB o,tr1) s:cpcca .uroj '(ucQlA o1 luacufpu ruo pue uorsuclxg Eunqtung cqt o1 luarofpe auo) srorlalsgns nlgez Alcu o^lt (q) (3) (J) :suuau,slJol\ uolssJursuerl lrc[or4,, 'lucruacrfY esBqc.rnd Jc/nod arp ur uucl lErlt ot ua,rr8 Euruecur eql seq .,ar!loN uollBuluuoMd,, 'luouau8y ts?r{f,rnd Ja^\od aql ur rruot tsqt ol ueirr8 Suluoaur er.Jt seq r.olu(I e^llraJJg Vdd,.
'(uo\Dtt1uta1 uo ra/:ruDrJ) S alnpeqcs ul rl!31 leql o1 ua,rr8 Suruuaru Jrll sBtl .rortJd esBqrJndr.

'{ucduro3 oqt pun J3IEUJO aql uaa,{uaq puc [q aurcu luqt jo luouaaris orll su"au ,,1uarueo.riy esuqJJnd Jo,rrod,, '(ta,topung) 9 appaqrs ut Ltuol lrrll ol uc,,rrE Surueeur aql seq ,,JrJsuElI luBldr, ds* S;a -il- ur peldope c?unq; a1erur13 uo uortut^uo) Iro^raurerC suolpN pcttui-l aql sueeul "lf,f,dN1" '(ntntlg ./b La.
{suo.t1 tut uou:t1t1say) l'€'8 csnelJ ur uuel tetll ol uc,rr8 Sutuseul ctll suq *loroJsuurJ,r.

'2661 '6lcvl uo IloA ^!aN '(sanryS.lb .oJsuDrJ uo uonct.

?say'11'c'8 osnelJ ur lruel lsql o1 uarrrS Euruscru eql sEr[ .,Jotsi]Au1 pogllun[ ooroJsuBJJ.,r '(uoinu,rufiJ uo n{suo.t1) t alnpaqrs ul ulal leql ot ucirrB Suruucru aql surl ..cJ!foN JaJsuBrJ,r.
'Z't'U csnelJ ur uucl lerll ol uc,rrE Euruesu Jql seq .raf*q Jtlsualh lo nfiuoLt uo uot1tlttsay\ gl'C'g asnelJ ul uual leql o1 uarrrE Euruectu aqt suq 'roJsuEJLr scrloN uorlBuruucl vdd u Jo crtloN uoueutulJcl vl u8 suasur ,,aJ!loN uollsulturoJ-l '(;t,oryDord uorlnulwtall S'S I osnell ul uuel lurg o1 ue,rr8 turueeu cql seq ,,.

{pe6 3u1guu;tt'.

'e1,, '(ra^opuol!
put wbJ) t'Z csnelJ ut lruJl lsrll o1 uonrF Suruecut crll suq $ruJJLr '(r".rr{S' 'alndsrq lecruqoal-uoN o 1ou s1 qcrq,n alndsrg p suuaul ,,a1ndsgg lurluqrall ',{tnp druets prm xu1 uorlurod:or pue xsl auoour Surpnlcut'oures aql qlt.4\ palcauuoJ:o3o {1rlulustun4sur r(ue .lo 'lueuuJo^o8 1uco1 ro uor8c: 'c1els i(uu ol :o luotuu:onoi lurluoi orlt ol clqe,(ud ro pol^ol Jiqlrq,fi puu 'cJnleu rulrlurs e;o Surploqqtr,r:o eBrzqc:aqlo ro l(lnp 'lsodur ',{rra1 'x.c1 frrn streaur ,sax"I., '(so8req3 ,(1rcrde; ,(ue Eurpnleur) predun ururuu qcrqm Inq tuaunc;8y cseqr:n.l Jcmod Jrll Jcpun Jc{eUJO oq [q c1qe,(ed puu rnp slunouru ,{ue suecu ,.slueurdetr ggr.1,, 'spale uorl?Aecxe pug sgcre llU'ssoJc e8eJots'sduec IJo./r\ toJ parrnbc.r puul su qcns 'lJcfoid crllJo uorlorutsuoJ crll clultltcuJ o1 pcrrnbcr puslJo DcJr] ua suscru .,ea.ry 3u13e1g,, 'sc1cr ;rgy o,rrlcarlse.r :taqt 3o ,(ua puE pcUurl ,{uedwo3 scJr^ras {3:au3 pue Ecl{V alnofJo rlcea suuJur ,,srosuodg,.
'(sdnl,y puD suoutlucsaq puo'1) Z elnpaqJs ur pcleu8rsop os puel iql suucut ,,ol!S0 ',(gr4 qcec Aq pcuSrs i(1np uccq suq lucurccriv cg qrrqm uo atsp cW suuctu ,,a;ug 3u1u8g5,, 'loJluo)Jo tronerrdordxl uu :o XtrroqtnV tuoruruoloD E ro lucunua^oD eql ,(q (otcroql iuqela: slrpu cqt go .

(uu ro) screqg aqt jo i(ue .ro llu Jo uorlszrleuorleu -ro uorlsrnbc.r 'uorluudo:dxc otll suecut ,.1uorg uopulrdordxS o.ruqg,, 'rcploq aqlJo uo4do aq1 l?
sarqs q.ns olur alql i^uo3 aru leql duuduro3 eqlJo sorltrnocs pus IoJluoJ puD ;uaurciuueur.
;o slq8r: :aqlo .ro Eurlo,r q1.,n ,(ueduro3 crll .lo saleqs suBout .,saJgqs,l ' l 'g'z asnelJ q1,r elrBpJolro ur porlrporu cq Ietu truld qcns sB 'll eungurn6;o lucurdolo.lcp aql ol uouelol ur [uedulo3 aqt r(q padolc,rcp ueld uorlcc tueualllascl crll suocur ,luuld uollry lurruol;1osa1,r "Yerificd Emission Reduction" or I'VERrr nrcans a GIIC Reduction verified and/or cenitied lor issuancc by a Dcsignated Operational llntity or othcr independent entity for usc in the non- CDM- bascd GHC cmission rcduction markcts.
"!!

'orld Bank" means the World Bank Group, including the lntemational Devclopnrent Association, the lntenrational Bank for ReconstructioD and f)evelopmcDt, the fttternational F'inancc Corporation, and thc Multilatcral lnvcstmcnt Guarantcc Agcncy.

"Yiben Rcservoir Monagement Protocol'has the rneaning givcn to that tcnl in Clausc 3.10.1 (Rese,Y)it' Manageme l).
L2 Rules of Intcrprctation In this Agreement, unless the context requircs othcnrise: 1.2.1 thc tablc of contents and hcadings are for convenience only and shall not bc considered in construing this Agrestnent; 1.2.: the singular includes the plural and vice versa; 1.2.3 refcrenccs to Clauses and Schedules are refcrences to Clauses of, and Schedulcs to, this Agrccnrcnt; t.:..1 the tcrms "includc" and "including" mean witlrout lirnitation; 1.2.5 t.2.6 I.t.7 t.:.n in carrying out its obligations and duties under this Agrcemeot, each Party shall havc an irnplied obligation ofgood faith; where, provision is made for the giving of noticc, certificate, detemrination, consent or approval by any person that notice, certificatc, determination, conscnt or approval shall bc in writing, and lhe words 'lrotificd," "cc(ified," "determine4" "consents" or "approved" shall bc construcd accordingly; any refcrcncc to an agrcemcnt or deed includes a refercnce to that agrc'emcnl or dced as amendcd, supplemented, varied or novated lrom tirne to time; any rcfcrcncc to a pcrson shall includc an individual, firm.
company, cor?or?tion, unincorporated body ol persons and any Governrnent Authority and its succcssom in title, permitted assigns and transfcrees; t.1.9 unlcss otherwisc indicatcd, rcl'cronces to a timc ofday arc to local tirnc in Sicn'a Lconc; t.l, t0 thc recitals to this Agreerrcnt do not affcct the intcrpretation of this Agrcerrrcnt; and t.2.1 I subjcct to clause 9.7 (Chungc in Lav' or lar) of the Power Purclrase Agreement.
unless exprcssly provided 10 thc contrary, any reference to any enactment or statutc shall be construcd to includc a lctbrcnoe to that cnactmcnt or statute as amcndcd, cxtcnded or applied liom tinre to time.

l6!-r25-4-51-v 10.0 - 15- t+b v !& 7O'.lO56t l{ Iw Y$'r ,s ;$'o'"t*o' :t"r,q -91 - 0'0 I ^-ts-t-!it a, I 'srrploqc:eqs cql ol l:lcdsc.r qtr.,'r r(ldde oslu geqs ((taaopuoll) 9 alnpaqrs pus {snoauqp.rstl,ll) 8l rsnclJ '(luaruuLa,to9 ary.r\ ntrnr1,1) 1'11 asne13 '(.
*r7nrl.u67 .lit aorptlosay) gl asnell '(uottDtatdatul puD suo,rtu!/aO) I csnclJ Surpn;cur) luctuau8y sult Jo suorslloJd luenclar raqto Xue 'solnpaqrs puu suorsrno:d qcns og tcol;c a,tr8 ol .ftessocau luclxo cql ol Tuq \uo,r,rr'J) g clnpaqc5 pue luo,p fiural uo nJsuntl\ g clnpcqJs '(,trrts'(TJ lDnuouu o1 tot.ul uotlouru,./rJ) t clnpcqJs '(,tparuaY r/os') ge'81 i;/sntl)'(uo!,ou!ut.tdJ til.tog) 91 asnalJ '(rro.rrr-r7rJ ) g1 osna13 '@orldnttoT-uuy) y'6'g asne13 '{srrDqs.lb .ta/sunt1 uo uolt:u.usay\ 8't'B osnul.
)Jo sasodrnd cqt ro3,{;c1os lueucarBy srqg o1 dtrud e am sJcploqaluqs cqJ.

sreplor{crEqs 3q.L n'l '$lnpJqJS qJns puu lucurccl8u srqt3o,{poq uruur crll ucc/$Jq lJlUuo:} ,(ue sr uaqt;r luauca:8y srqt jo ,(poq cql lc/ro c.ucpa.cld olut l1uqs (uou,rmJ\ 8 clnpcqJs pus ( oltDu,uual uo .to[suo.r1\ S olnpatlcs '(8r,rso/.')

l,rt)u,lt,l o1 .roud uot|oultt rJ) ?


ctnpcqJs lcrll ldccxc 'punard lgeqs lucurcc.rSy slql Jo fpoq uruu cql 'sclnpar{rs cr;l pue luaurcc.r8y srqt;o ,{poq ureut 3q) ura,$laq llrguoc .f,tm sr xraql JI 'lrroruacrBy srrll Jo l:Ed 1o.u3a1ur ue o.ru srlnpJqrs crll IJV srlnpcqrs t't rt I ' .

\ I i9S0F0ZNt\q -Ll - 0 0t.i-rs-t-szfa9l adocl e::cr5 jo lucrur?lped eqt {q uorluagrtel JoJ tuoruuoloD aql .
{q tusueo:3y asuqrJnd JJ^rod cql puu tucruco:8v slql Jo uolsstulqlrs.lo sLltuoru (71) ar1c,tr1 uulll^\ pcrnoJo lou sBrl uorlEJllrlr?u Jr teqt pcpriro:tl clqeartcu:d xlqeuosaor srl uoos su (lslxc ol cscc, ol ll csne, :o) tuc,rg ,{trpr1e..ru1 qins aurolrclo ro/pue uorlPJUtte6 a^atqJc o; pe:tnbcr oq ,(lcleuosuer ,(eur su sdcls qtns c{ut ol slnoneopuc alqouosBeJ ll€ esn ol ea:8c qcea luctuualol) cqt pue ,(uuduur3 ct{t 'srnrJo luclq ,{1rprplnul uE Jl Jo 'luottlocJiv cst:qclnd lo^\od cqt puu lucuracr8y srqt {;us.r ol i^asnJa.r auocl l,rJors Jo luauptlJEd eqt 'uoseal ro.l JI ^up f'a z 'uorlurll tlel Jo.]
,fuessccau sJaplsuoJ euocl Euels.lo lueulelFDd aql sc sluctuncoC lccfo:4 aql puu lccfor6 Jrll ol uou?lal ur uorlsuuo.Iur qlns slrxqns ,(uetluro3 cqt pcpr,to:d 'puu) s,(np (96) dlcuru urqlt^\ uollccllucs clncord ol sJnoneapua clqBuosueJ llu asn (q) '(cteq do1s3uo1 uonergrlo1 aqt ol ror:d asuc fue ur Jo lueuurped cql ol luatucc:8y as"qf,Jnd Ja^rod crll pue luaurccriy slql ltuqns (e) puu :5uo3-l ullars :o1 srcrie llrDunuo^orJ otll 'uor]BurroJur qcns.
;o uorsrnord Jql puu a]uolsJltW ulllclul atltJo rrorloe.lsltes Surrnollog uoqBJllrIBJ qcns lscnbu ol paarold upJ 1leql luipuuor loc.l o't lucuu.lo^o{) orll clq8uc ol (srcPuo'l pc,rorddy crl} Jo scrirlod oql .+o rloBsrq ur I a:u1d plno/$ lcqt uoueuuoJur fus qp/$ lueurua^oD oql cpr^oJd ot pefirlqo rq lou gsrls,(uedruo3 aqt teqt papriro:d) 3uqu,n ur palsanba.r c,req [lqeuosuer ,(eur lucruu:errog cqt su lco[or.| oql Jo uorlr?lucruc;dr.ul .ro; olqrlcrurl puu snluls cql puu sluculnJoq lccl'or.l crll ,lo suu.l Ictrclsur 3rlt Surp:ea-cr uoneuuo,Iul qcns peprao:d suq,(urduo3 aql pue pousrlns uaaq s?q cuolsellhl u.rualul org ptun cuoel Bxels Jo luaruurlrud aqt f,q uorlucgqu: :oj lucuraalEy csuqcrnd rJ.r(od cr"B pue luourcc:8y snll truqns o1 pc8rlqo rq tou lluqs lucurulc^ol) ctl.l.
'3urso13 lercueurg Surqcacr,(ueduro3 eql ol tucpoJald uorlrpuol e oq lp^r uorluJuurld tuql saEpcl,nou:1Ju tucruuenoo orlJ aiz I i'z s1rn,t3 ilgpglu,ur I pus sllriunrot; lrc[or.1 ulcua.)
Jo uoUr?JUllEU i'l 'uorlucgrlex o1 :orrd peleuruu3t sr lucurear8y srql ;r luetuesrBy srqt Jopun [pu4 :eqto aqt ot (1r1rqur1 luroueur; ,(uu oaeq 11rqs [ue; :cqlrau 'lueurauiv stql ur uorsr,rord .roqlo ,{ue Surpuelsqlrmlo;1 ilt 'uorlucullBu uodn ctec BuruSrS cq1 3urmo110j tccl;c c1e| ,(luo Ilarls suorsl,told qcns pue 'uorluJurluu ol roud e,rpccgo aq ',.nu1 alqucrlddv ,(g 'louuer (q) B'lucruu.tc^o0 crlt uo scrlrtrqsll IerJuBulJ:o suorffirlqo lurruBuu ,iue csodur (B) :q qm lucuna:8y srql3o suorsr,rord fue ro3 ldccxc'01e6 SuruErS cql uo{ c^llJc.uc oq lluqs tuettrcc:8v srql ro l,(uadtuoS oqt .ro {luoqtny luourua^oC I |i uolIEJUpEU uodn puu Bu.tuigg uodn suo;sg,lord ulBlraJJo sseurAllJoJJll l'7, ANVdIAIOf, 3HI As J)StOUd 3HJ.
JO NOtJ_\/IN3,!3'Idt.\t a (thc "Ratificalion Longstop Date").

eithcr Pany may issuc a Prclintinary Tennination Noticc in accordance rvilh Clausc I 5.

I .

l(c) (Ternination prior to Finuncial Closittg).

2.3 l'erm and Handover 2.i.


t Without prejudice to Clause 15.9 (Obligutktn upon Terntinotio,r), the lcrm of this Agrcemcnt (the "Term'r) shall comrnencc on the Sig[ing Date and shall cxpire on the earlicr of: (a) (b) the twenty-fifth (25th) annivcrsary ol the carlicr of (i) the Corlmcrcial Opcrations Datc and (ii) thc Required Commercial Operations Datei and the expiration or earlier tcrmination of this Agreement in accordance with its terms.
2.3.2 At the cnd of the Tcrm, unlcss this Agrccment has becn tcrminatcd carly in accordancc with Clarrse 15 (Earlv Tarminution), tlrc Plant shall be handed over to the Covemment on the last day of the Term (such date being the "Transfer Date") in accordance with thc procedures scl out in Schcdulc 6 (ltandover).
2.1 Financing 2.1.1 The Conrpany shall use all reasonablc cndcavoum to arrar'|ge the limited recourse financing of thc Project prior to the Financial Cllosing Longstop Datc on thc basis of a debt:cquity ratio of 70 (or nrore):30 (or less).

2.1.2 Ifi (a) (b) (c) the principal anrount of the debt (excluding intcrest.
shareholdor loans and revolving lacilities for funding VAT (or like taxes) or working capital) as sct out in the Financc f)ocunrcnts cxcceds [JSS700,000,0001 or thc financing is not provided by one or morc Approved Lenders; or thc dcbt:equity ratio proposcd in the Finance Docurncnts is lowcr than 60:40 or nrorc than [J0:20, lhc Cornpany shall not cxecute any Fiuancc Documents without thc prior written approval of thc Covcmnrcnt (such conscnt not to be unreasonably w'ithheld or dclaycd).
l.l 1 Without prejudice to the provisious olClausc 2.4.2 (Financing), thc Cotnpany shall deliver to thc Covcmrncnt.
for information purposcs to kccp thc Covcrnnrcnt informcd of the progrcss of the tinancing ncgotiations: (a) a copy of the Financing Term Sheet for the Prqject, rvhen it has been agreed, prior lo thc datc on which thc Intcrinr Milcstonc is souglrt to bc satisficd by thc Company and Financial Closing, providcd that if the Govemmcnt has any ob.jections to the terms specilicd in such Financing Tenn Shect ou the grounds that thcy would iurposo greatcr obligations on, or providc to lhe Lcnclers with grcatcr rights against, the Covemment or thc relcvant Govcmmcnt Authority in comparison with the range of project linancing tenns that could reasonably be expectcd for a project likc thc Project locatcd in an equivalcnt juriscliction (where such grcater obligations or greatcr rights are not trivial).
it shall promptly.

and in any casc rvithin twenty on - I8- I I F w w (21) days of its receipt oi such Financing Tcmr Sheet, inlbnn the Company ol its objcctions and thc reasons for thcm.

The Company and the Governrnent, each acting rcasonably and within thc constrdints of thc policics and proccdurcs of thc Approvcd Lendcrs, agree to prolnptly discuss whcther and how to address any such objcctions that have bcen so notificd by the Govcmment.
If thc Govemment fails to raisc any ohjections within thc pcrmittcd tirncframc, or if its objcctions are dropped by the Govemmcnt following discussions with the Cornpany, or if an agrecmcnt is reachcd as to how to accommodatc such objections, the Company shall bc cntitlcd thcrcaitcr to exccutc the l-'inancc Documcnts, on tcnns that arq in matcrial respects consistent with or hetter than the terms lbr the Pr<rjcct in the F'inancing Tcnn Slreet (takiug into account any agrecd accommodation of the Covcrnmcnt's objcction"s), without furthcr noticc to or approval hy thc Covernlnent; L.t.4 3..1.5 (h) (c) (d) drafts ofthc principal Fiuance Documents for the Project on a periodic basis: a soli copy of the latest vcrsion of tlrc Financial Modcl in Microsoft Exccl (i) as at thc Signing Datc and (ii; as at the date of lrinancial Closing; and a ce(ificd copy ofeach Finance Documcnts no later than fi fteen (15) days after the datc such Financc Documcnt has bccn cxccutcd.
Thc Cornpany shall not.

and shall procurc thlt cach of its officcrs, cmployccs, agcnts, At'filiatcs and Sponsors shall no!

entcr into any arnendments or modifications to the Financc Documcnts or cnter into any ncrv or additional Finance l)ocuments (cach, a I'Nerv l'inancing Documcnt").
without thc Govcmment's prior written conscnt (not to bc unrcasonably withheld) where such Ncw Financing Document alters or cnhanccs beyond the rnaximum dcbt amount set out in the Financial Modcl as at Financial Closing (or which has othorwisc bccn agreed by thc Govcrnrncnt) or rvhich otherwisc incrcascs in any respect.
the (;ovemment's financial or other obligalions or liabilitics under this Agrccmcnt or advcrscly affects the right of thc (iovcmment to acquirc the Plant frec arrd clcar of all Flncumbranccs upon tlrc Govcmment's paymcnt of thc applicable purchasc pricc pursuant to the tenns of lhis Agrcerncnt.

Promptly tirllowing the Signing Date.


the Cornparry shall provide the Govcmnrcnt with a timctablc for aclricving l'inancial Closing and it shall updatc this timctablc rvhcncvcr it considers that there has bcen a rnaterial change to the date that, acting reasonably, it expects Financial Closing to be achicved.

Thc Company shall promptly provide a copy of cach such updatc to thc Govcmment.
Rct'crcnccs irr this Agreerncnt to the tirnetable for Financial Closing shall bc deerned to be a rcfcrence to the latest such tinretable that has becn providcd to the Govemment (and thc Goventntent shall usc its rcasonable endeavours kr work alongsidc thc Company to achicvc such timctable).
1.5 .,\mcndnrents to this Agrcemcnt l'he Govcmmcnt acknowledges that certain tenns of the Sierra Leone Documents nray need to be amendcd by thc partics thcrcto to rcflcct any changcs rcquircd (i) by tltc Financc Partics.

or (ii) by thc Company as a rcsult ofthc finalisation ofthe EPC Contract.

'lhe Governmcnt shall agree.


and shall procure that auy Govcmnrcnt Authority which is a party to the rclcvant Sicna Lcone Docunent shall agree, to any such rcqucsted atncndnrents, savc wherc the proposed alnendntent: I r,: -i: j -.t-j i -Y :1r II - 19- w A t+ 'w \\!

2.5.

I 2.5.l 2.
S.l sccks to amend thc calculation olthe Capacity Charge in Schedule 6 (Tanfl) of the Power Purchasc AgrL'cmcut (othcr than any amendment required to corect a manifest error or clarification of what thc Financc Partics considcr, acting rcasonably, to bc an unclcar provision that docs not matcrially alter the risk or economic profile of the Govemment, or a Govcmmcnt Authority, under the Porver Purchase Agreement or this Agreement); rvould causc thc collection account ohligations being imposed on the Govemrncnt, or a Covemment Authority, lo be greater than those sct out in the Collection Account Arrangerncnts; sccks to anrcnd thc F-PC Contract scopc of works and such an arncndmcnl would havc an adversc cffcct on thc Govcmmcnt (for thc avoidancc of doubt, a changc will not bc atlvcrsc il the risk and cost associated rvith it is allocatcd to thc Projcct rathcr than to thc Govcrnnrcnt, or a Govcrnrncnt Authority); seeks to amend thc rates of tax and tax excmptions provided for in Schedule I \Taxution) of this Agreement and such amendnrent would havs an adverse elfect on the Governlrent or thc rclcvant Govcmment Authority; 2.5.
-{ seeks to amend thc scope or timstablc of thc Covcmrnent Transmission Works and such amendment would have an advcrse effect on the Governmcnt or thc rclcvant Govemmenl Authority: or 2..5.6 is considcrcd by Covcmmcnt, acting rcasonably.
to imposc on thc Govcmrncnt, or any Covernmcnt Authority, any irnpact rvhich is non-trivial and adverse in relalion to the (iovenrnrent, or relevant (iov'ernmcnt Authority's, benefit or risk profile in relation to the Projcct, providcd that any amcndrncnt will not be deerned to have such an irnpact insofar as it is: (a) (tr) (c) an arnendrrrertt of the cure perirxls and trigger thresholds lbr dcfaults in thc respcctivc Sierra L,cone Documcnl and $at rcqucst is rcasonably in linc rvith project linancing practice for sinlilar projects in sirnilar jurisdictionsl an amendrnent requiring provision of intbrmation or acccss rcasonably required by the Financc l,artics in linc with projcct financing practice for sirnilar projocts in sirnilar jurisdictionsl an amcndment to cnsurc consistcncy between the Sierra Leone Documents and Applicahlc Law, the terms and conditions ol any Consents.
or any conditions or othcr requircments that rnay be required for Ratilication; or (il) an amendllent to corrcct a manifest error.

and provided that ths Covcnlnent agrces, and shall procure that any rclevant Covemmcnt Authority agrces.

to act in good faith to discuss and scek to agrcc any amcndlncnts rvhich thll within Clauses 2.-5.1 1o2.5.6 (Anrcndnrcnls to this Agrecrrarl) abovc.

2.6 Environnrental Protcction.

ll('alth, Rosettlcntent.

and Srletv 2.6.1 -Ihe Conrpany shall.


prior lo thc PPA Effectivc Datc, prcparc or procurc lhc prcparation of thc Rcscnlonlent Action Plan and the Environrr.rental and Social Astion Plan in accordancc 1621,'15{-51-v10.0 -20- (h h\t w*,*,r, &st' ,?8 \N.
I nrrirlrl)i 1x de, -tz- oT l.{'is-l-tZfi9l '8urso13 lurcuuurJ Jo tuorui^Jrr.lco aql ol rotrd lJu.rluo:) I/\i?gO I EUnqUmS aql Jo suucl cql eu8e ol sJno^Papua alqeuoscoJ llD csn llstls soluud ctlf lrc.rluo] l.1l{'o I f,unqurns L'a 'u0rlurpcurcJ qcns3o uoqclduroJ aql lnun ctutuu.rSo.rd uollsrpcnroJ alqncrlddn ,(uu go sn1a1s aqt.
;o alopdn ue pue c8etuep lqueuuorAuo aqt.lo lueurssJsss uB apnllur llBrls rlcul^r '(,(lquuosucr Suttce rarie Aeur luoruuelog cqt puu Iuuduo3 crp su,(oucnbo3 Jcqto qtns ro) ,(llccl\ lsutl lE'lueur(ucloD eql ol uodu e cnssr llsr.ls ,(uuduro3 3r[t ltrfoJd aqlJo suorlsado oql uro{ Sursue ,(cuo3:atue lslueuuollue Jo lucprcJe lelueruuoJlluc lcualeur E.lo lur.

{t eqt ul 'gccfo.r4 cqt.


;o suotle:cdo cql uro{ Surspe stledurr leluauluorrlu, c$e.rpe roJ sueld esuodsol ,(cuc8rcurc puu saururerfiord uorlprp3ul3J uo'{11unuue 1see1 tu tnq',(1p:rpouod uodcr leqs puuJo ere^ c scr.uocaq 1turll 'etrirerd fusnpul poog rll!/ri cf,uuprosro ur iq plno^,r uorlr]ouuou qans croq^,\ csllucrllo elqnorlddy qlr^\ muupJoJf,E ur lcclbr4 cql ot 3ur1u1ar sclcucS.taura lulucruuollua pus ro stuaplcce lulueuruollluc ,(ue .
;o luatuu.rc.,rog oqt A3r1ou ,(gtdurord 11uqs {ueduo3 aq1 ^re'I lccfor6 aql ol uollulJr u!

{lcJlrs olouloJd puc lucutuoJtlu.

Jtll tcoto:d ot acrtcu.l6 ifulsnpug p&)rJ qlr/rr oJueproJf,p ur palnbcr Ilqeuosee.r cq i(eur su'sdals luuoqlppe qcns aIBl Jleqs fueduro3 crll'slucunroc cuocl sr.lars arll .rcpun luauuo^orJ cqtlo suotlnirlqo oql ol ctrpnf d lnoqly'A '(pclnbc.r sr 1qBrX,$ulpcuy uu qclq^\ uo clcp eqlJo acuu pe ur f;qeuosee: luoruue^og aql scurlou [ueduro'.1 aql pcpr^ord) e'g'Z rsnut) srqt rlll.
{\ ,(lduror o1 r(ueduro3 sqt ,(q parrnbc-r slq3rX ioelIcuy aql Jo Surluu8 ,(lcrurl aql aJnJord ol sJnolucpue elqpuosuar esn lleqs luauuc^og ar11 'usld uorl]V lullos puB leluauuoJl^ul eql pu?
uPld uorlcv tuoruclltssJu eqt gll&\ eJuepJoJoe ur puc l'pun suouuBtlqo a^llf,adscr Jrtqt luoueldur 'llBtls luauruc^oC crlt pue '11eqs i(uudtuo.l cr11 'isu1 clqecrlddy erll rl1^\ {lduror'scr.url 1e lu'llurls scttuoqtnv luiuruo^oD 11u leqt crncord lleqs lucurue^o{) sql pue'llcqs luluua^oD ctlt pue 'llurls ,(ueduro;1 cq1 '(scurlaptni ,(ye.1 acueurg clqeorldde pue mu1 alqucrlddy qtr.r ccuuplorJe ur perudc:d uccq aABq tilucunrop qrns pr 'pef,u1cp ro plcrlqllll cq tou llsqs lu,rorddu qrns l&lt pcprno:d) lueuruo^o{) aqt.Jo luaordde oqt ol lrcfqns '(rBId uorlcv Iurros pup [Dlualrmor^ug eql puc uuld uolliv luarurlllesou oql Jo suorsr.,rord reqlo {u8 ol uouslrl ul puE :(po.
(Elip .ro p1:rqqtra,r ,{lqauosn.Jun rq ot 1ou) 1ucuru.rl,ro1; crp Jo lu^oJddn .ql ot loalqns ',(1r.rotpr1v luaunuJ^ol) D lo luonnrJilor) cq1 uo suorteSrlqo lcuclBul csodul qarq^\ uBld uorlJv lurcos puE lulucuruoJ lrruil cql put uBId uorlov luJruolltosoll oql Jo suorsllo.rtl {ue ol uollrTlri ur (q) 0r) :cq lleqs uol<J uorl:)v lulros pun lElucruuo.I^r.l':l cr.li prru uBld uorlsv luculelllase1 aq1 'saurlapnr8 Xpu,1 ocucur.y alqucrldde pus .ru'l clqucrlddy crlt rllr^1 t 9'z t9a f9?

z9t t ,].
z9t t ,].

CO\'ERN\IE\1'PRO.IECI'ASSIS'T,\\CE -1.1 Rights to Undcrtakc thc Projcct 3.1.1 Subjcct to thc tgnns and conditions of thc Sicrra Lconc Documents aud thc Conscnts, from thc Signing Date until thc cnd ofthe Tcrm the (iovernment hereby grants to the Conrpany the cxclusive right to design.

finance, insure, construct, own, commission, opcrate and rnaiutain thc Projcct.
l. t.: 3. r.l A brcach by the Ciompany ofthe terms and conditions ofthe Project Documents, Financc Docurnents and the Consents will not result in thc loss by the Company of thc cxclusive rigltt grantcd pursuant to Clauso 3.1.1. which shallcontinuc until thc end ofthc Tcrm.
-I'he Company shall bc entitled to use Clontractors to pcrform its obligations undcr the Proicct Documcnls, but the Company shall at all timcs remain liablc for the performance of its obligations undcr the Project Documents and the Finance Documents, notwithstanding any such delegation to any Contractor.

l.l l,and.
l.l l,and.

Land Rights and \lincral otrncrship 3.2. r As sot>r'r as rcasonably practicablc follorving the Signiug Date, the Company and the Govcmmcnt shall (and the (k)vcrnmcnt shall procurc that any relcvant Govcmment Authority shall) use all reasonablc cndeavours to ncgotiate in good faith and scck to agrec the tcrms oia lease ofthe Sitc (the "Land [,case Agreement").
3.:.2 Thc Govcmmcnt shall: (a) by the date falling nincty (90) days after the satisf'action of thc lnterim Milestone execute or procure the cxccution by thc rclcvant Govemment Authority of the Land Lcasc Agrccmcnt and shall usc all rcasonablc ondcavours to procurc that thc relevant Governnrent Authority conveys to thc Company under the Land Lease A,qrcement the land comprising thc Sitc and any associatcd Ancillary Rights in rclation to thc Sitc ncccssary for thc implcmcntation of thc Projcct and thc pcrtbrmance of thc Company's obligations and cxercisc of its rights undcr the Project Documentsl (h) (c) following the satisfaction of the Interirn Milcstone and afler the cxccution of the L-and Lcasc ,{grccmsnt (antVor any othcr signcd Sicra Lconc Documcnt) submit thc Land Lease Agrecment (and./or any other signcd Sicrra Leone Doculncnt) to the Parliament of Sierra Lcone tbr ratification (if such documcnt rcquires ratilication by thc l'arlianrcnt of Sicra Lconc) providcd that thc Cornpany subnrits to thc Covernllrcnt such information regarding the material tcnns of tlre Land Lcasc Agrccmcnt (andior any other siglted Sierra Lcone f)ocument) as thc (lovernment may reasonably havc rcqucstcd in writing to cnable the Govcmnlcnt to fccl confident thal it can proceed to rcquest such ratification; and usc all reasouable cndeavours to procure that the Lauld Lease Agreenrent (andior thr,'rclevant signctl Sicrra Lconc Documcnt) is ratilied by thc Parliarncnt of Sicrra Lcone by the date lalling nincty (90) tlays aficr thc satisfaction of the lnterim Nlilestonc.
provitled thc Cornpany submits srrch infornration in rclation to tlre Land - 22- ?/-/ 70J(661r r4 t tt $( Is"# Lease Agreement (and;br tlrc relevant Sierra [-cone Document) as lhe Parliament of Sicra Lconc consitlem neccssary lor ratification.
I.2.3 'fhc Partics acknorvlcdgc and agrcc that subjcct to thc tcnns ofthc F.PC Contract, the arca of the Sitc may need to bc nrodilled to rctlcct the location of the Environrncntal Flow Porverhouse (as descrihed in schcdulc I (Dcscription of Plant and Far:i/ili,s) of the Powcr Purchasc Agrccrncnt) and.

in such circumstancc, tlrc Parties shall.


acting rcasonably, seck to agrec any rcquircd amendrncnts to thc Land Lease Agreement, including to take account of: (a) thc mininrum arca ofland rcasonably rcquircd for the lrrcation and opcration of the Ilnvironmental F low l'owerhouse; (b) nrinirrising any internrption to the operation ofBurnbuna I; and (c) thc location that will optimise the lunctioning of the Environmcntal Flow Powerhouse.

_1.
_1.

:..1 ,1.1.5 The Govcmmcnt shall usc all rcasonabtc endeavours 1o procure that any easements, rights of way or othcr Ancillary Rights neccssary lbr the implementation of the Projcct and the pclformancc of thc Company's obligations and cxercisc of its rights urdcr thc Projcct Documcnls are made available to the Company by the relcvant Covernment Authority prompdy following receipt ofa requcst lor the sarne.

in reasonable advance of thc date on which such rights arc rcquircd.

frorn the Cornpany.
frorn the Cornpany.

The Conrpany acknowledgcs that the Rcpublic of Sierra l-eone is the orvner of and controls all Minerals (as dcfined in the Mines and Minerals Act 200S) undcr or upon any land in Sicra Lconc notwithstanding any right of ownership of othenvise that any Pcrson nray possess in and to thc soil on, in or under which Minerals arc found or situated, inclucling any land the subject of thc Land Leasc Agrccnrent or any Anciilary Rights grantcd to thc Company undcr this Agrccmcnt.
The Cornpany shall promptly notily thc Governnrent if any Mincrals arc lbund under or upon any land the subject of thc Land Leasc Agrcement.

3.1.6 Thc Govcmrncnt shall usc rcasttnablo cndcavours 10 agrce thc location of and procurc the grant of such additional land rights as are reasonably neccssary to provide a Staging Arca tbr the EPC Contractor.
3.3 Right to lnrport, Export and Reimport Subjcct to compliance with thc Applicablc Larv and thc rnaking of Proper Applications (in cach case, inclutling thc payment of applicable dutics, taxcs, charges or irnpon lbes imposed by the Applicablc Larv (subject to Schedule E {Taxatiou\) on goods imported into.

or cxported from.
Sicrra Lcone, if applicablc) and to Clausc ll.3 (Sierra Leoneun Resources), thc Govemment shall procurc that thc conrpany and its contractors can: 1.3.1 irnport without restriction, undue dclay or hindrance all iterns of plant, nrachirtery, cquipmcnt and rnaterials rcquired fbr thc implcrncntation of thc Prujcct, including, spare parts and rcplacemcnts to the spare parts inventory (including parts which have been refurbishe<_l or rcpaircd): - 23- /rr:"27v L2/ tb sh # - fsJ "i)\ ' /h ,r,*rt,ou, tn$ ( ^ ).,1 n(M / 0U ru5u6u.,a roC ,(uc :o luctuu:a,rorJ cqt.lo suouu8rlqo aql lle Jo oouctu:oyad ctll clnsold :o uuoj"rod ol srJnoluepuc clqpuospcJ llu osn IIr^{ luotxtuc^of) cql'3urso13 IercuuutC JoIJV 'bZ' 0!rr-fs-!-9;fa ttt '3utso13 letcuuutg Surnarqce ut ,{e1ap {ue ;o esnec oql Euraq sluauclnbu eseql {sues ot ,JnllsJ eql plo^B o1 su os '(3urso13 plJu"urc Surircrqce JoJ 3lgetcurl crll ur lno 1cs su) 3urso13 lulruuuu ro3 clep 1l8.rut cql Jo oruu^pu ur ,(puarcrgns puB 'sJoPu{ aqt ot clqeldacru ,(lqeuosecr uuoJ E ut 'csEr qf,Df, ut 5u1so1,1 lcrcuuurl,Jo truexnsso lunlra oql o1 [;a1os sctElar qclq^r uoltlpuoc {u€ uurll rsqlo 'st1du.rffered Suro8aro.
; Jql ul peuoqucur $uaurcuie eql Jo ,(uo ol sorlud cqt ;o suorteiryqo c.rrlccdscr aql ol lucpoJaJd suolllpuoJ Xuu.

;o rarrrurn o^llcc,Ua ue Euunco.td ro Sutr(.

;st1us (c) pue :sIJolA uorssnusuerl lulrlua^oD cqljo Suruorssrultuoc puu uoucrulsuoJ aql Jo SurpunJ ro Surcueug e$ J(U sluculccrSr Surpurq pur prlu^ olur 8ur.rc1uc (q) :spJepuEls [BuorlDtualur lut^elo] puo ,it\?
"I clqecrlddy rllr^1 aruspJosie ul s{JoA\ uolsslursuerl luatuuJolo{) cql 3o Euruorssrrxulot pue uolltrulsuof, cqt roj pclnbcr cru leqr uq8rr Jaqto ro puel {uu pu€ slucsuoJ cql Sururulqo (e) :Eurpnleur $lror$ rrorssrursuerl ltr)rutualoD cql3o Suruorssrurruoc prrc uorlrrulsuor ctllJo loout ol sJno^Bapua lccdsar u1 ',(lqeuosue: Surlrs 'scrped ccueulC cql Jo sluaruclnber elqeuosecJ llE cstr IJIAI pus slJoll uorsslllrsuei.L lucutruc^oD or{t Jo clusuilutBul puu uoqaado cq1 'urral ortue eql JoJ 'pur Euruorssrtuuroc 'uorlrrulsuoJ 'Surcueug 'Suqucsuoo 'lueucrnro:d 'u8rsep erp Euunco.rd :og alqrsuodsa: I1e1os aq IIBqs lucruu.ro^oD eqJ 'lueuroo:8y sql ur lno 1ss fpuor:no sE ureurat Ileqs ,srlroA\ uolssltusunl1 lueuruJr^oC,r aql Jo uolluuep sql puu ({ueduo;1 orlt ol csJnorrJ ou qlt,4\) lucurrualo5 eqt Jo suorleirlqo olos eql rtuoreq ot peuroip cq ,(11ecr1uuro1nu lleqs qrort\ uorssu.usuprl lrafor4 cql ol uorlelar ur slu3runro(J lcafo:6 aq1 rspun ,(uudruo3 cqt 1o suorle8rlqo Iue 'uorldo s!r{l csrcJexa lou scop luourura^oD crll ^uB (q) puB:uouruuap qrnslo (p) qdu:3u:od-qns o1 ,([uo ro.lar o1 pe;updn aq ol peuroap aq Alpcrreuolne Ilsqs ,,slroA{ uolsqrrsuurl luoluure^o0., crll Jo uouluuop aql pue (luaruurc^o0 orll ol osJnoJa!
ou qlrm) fueduro3 aql 3o suortuSrlqo clos eql euorcq ol pcuraap cq dllucrleurolnu 11nqs (,,sqror11 uolsslursusJl t[auuJo^og,, aq1 Jo uotlrugop Jo (3) ot (u) sqduiurud -qns Jo) sIJoA\ uorssltusuerl lca[o:6 crll ol uoqelcr ur quctuncoq lcelor4 aql icpun lucruruc^oC cqt.
;o suorlu8rlqo ,(uc 'uorldo srql scstJrrxc lucutrucAof) oql (u) u,llZ ol roud ro uo os op o1 ,{uuduroJ oqt salnbcr yr lorll Surlrr.^1 ur ,{ueduoj oql dJrlou i(lqeconc.ur lsnur I lccfo:4 cql3o pucl su slJol uorssrursuu.rl tco[or,1 oqt lrrulsooc pue eru?uu 'arnrord 'u8rsap o1 fueduo3 ,rlt scrrnbor tuouua^oD eqt JI 31 1197 fuen:qeC ilr |.r'f s{ro,t\uolsslusuEJ.L t'e '(rlqeerlddr) sE) srolJeJluoJ s1r ro r(ueduro3 aql ,{q psllnbil Jc8uo1 ou ale luql :!^lDuclau pue luaudrnbo 'fuaurqsuur '1ue1d 3o suralt qons lle couprpunl :o f,u1ap onpun uotlJt4sat poqlrm podxa pus :aues cql podtur-cr puu lucrurlslqirucl ro rredu 3o asod-rnd cqt ro; c^oqB (B) qderfu.rud repm (tlqporlddp se) sJolrsJtuoJ sgr ro,(ueduo; aqt,(g pcUodurr slotJ'luru pup tuoudrnba ',{:aurqcutu 'lueld Jo sutalr JIu ccue.tputq ;o ,(e1ap ,npun uotlcrJ}sar lnoqlrm uodxc a't t Authority r,rnder the agrcemenls that thc Government or any Govemment Authority has c tcrcd into in relation to the Covcrnnrent Transmission Works so as to cnsure that the Covcmmcnt Transnrission Works arc fully constructcd and commissioncd by thc Targct Intcrconnection Date (as that term is defined in thc Power Purchase Agrccmcnt).
3.5 lmnrigration Subjcct to the Applicablc Larv rclating to imrnigration, and providcd lhc Cornpany and the Contractors rnakc Proper Applications, the Covemment will as soon as rcasonably practicable grant applications of the Company, its Contractors and any fanrily members of such persons (il applicablc) fbr work pcnnits, cmploymcnt passcs, visas and other pcrmits, as neccssary.

frlr tecltnically qualificd individuals involved in the Projcct and any family members ofsuch pcrsons (if applicablc).
Notwithstanding the forcgoing, horvcver, the Govemment may.

in any individual casc, dccline to grant an application.

or cxpcl a Pcrson prcviously admittcd, to protccr the national security interests and public health and safbty of Siena Leoneans, tbr rcasons considcrcd by the Govcnrmcnt in its sole discretion to be good and sufticicnt in accordance with.

and to the extent pcnnitred undcr.

lhc Applicablc Larv unlcss such action by the Govcmmcnt is on grounds which are discrirninatory against that Person.
3.6 Delay in achieving l'inancial Closing 1.6.1 The Parties agree that Financial Closing will be dcpendent.

among other things.

upon csrtain actiors of thc Govemment and thc Govcmrncnt Authoritics as follows.

Thc Covcrnment rvill usc all rsasonable cndeavours to, or usc reasonable endcavours to procure that the relevant Govemment Authorities grant.

issue, review.
issue, review.

reach agreement on thc tcnns anrl conditions of, approvc an<Uor cxecutc and dclivcr (in each casc as applicable) in a tirnely manner, taking into account amongst other things thc timctable tbr Financial Closing (where the Governmcnt.
acting rcasonably, has been provided rvith sufficicnt timc to completc its rcvicw and whcre the Cornpany has madc a Propcr Application for a Consent): (a) (b) thc issuancc to the Courpany ofthe Gcrreration Liccnce and othcr Conscnts that are rcquircd by thc Financc Partics as conditions prcccdcnt to Financial Closing or thc effccliveness of any Projcct Document; the granting of the Ancillary Rights (provided thc Company notifics the Govcmmcnt rcasonably in advancc of thc date on which an Ancillary Right is rcquircd); (c) agrecrnent and cxccution ofthe Projcct Docunrents; (d) (c) (t) the exccution by tho Covcmnrenr ofthe IA Direct Agrcemsnt, the cxecution by the Otltaker of the PPA Dircct Agrecment, and thc exccution by thc Govemment, the Olftaker and/or the rclevant Govemment Allthority ol any other Direct Agreements that may bc rcquired by thc Finance Ptrtics in relation to the Project Doculncnls; thc exccution by thc Govcmrncnt an(yor &ny rclcvant Governmcnt Authority of thc d()currrents requircd to bc executcd by thcm in connection with dre crcation, registration and perfcctiou ofthc sccurity comprising the Security Packagc; and such othcr documcnts as rnay rcasonably bc rcquircd by thc Financc Partics;hYL- - 25- gt, s{^ w where thc tenns ofsuch docunrents arc acceptable to the (iovcmmcnt acfing rcasonably.
Security Package 3.7.1 lhc Govemmcnt acknorvlcdges that the Company may assign to, or grant a securiry intcrest in favour o( the Finance Parties, in the Coulpany's rights and intcrests under or puNuant to: (a) (b) (c) (d) this Agreement; the Power Purchase Agrcenrent; the Land Lease Agreementl the other Projcct Documents to which thc Govcmment is a part)5 the physical assets and intellectual property ofthe Company; (c) (f) (g) any other agreernent or document comprising the Security Package; and/or the bank accounts ofthe Company including any monies contained therein; (h) to thc cxtcnt pcrmittcd by thc Applioable Law, thc Gcncration Liccncc and any other Consents issued by Covemment Authorities in favour of dre Cornpany and necessary for the canying out ofthe Project.
f.7.2 Thc Govcmment agrccs, as soon as reasonably practicablc tbllowing a rcqucst from thc Company to do so, to execute and give all acknowlulgemenls ol any security or assignrnents crcated in accordancc with this Clause 3.7 as are reasonably rcquested (in rcasonablc tcnns for a financing ofa projcot similar to thc Project in a sirnilar jurisdiction with similar finance parties) by the Conrpany to give effect to the foregoing; provided, however, that thc Govemment shall have received copies of docurncnts pcrtainiug to the lbrcgoing rcasonably in advancc of the timc that il is cxpccted to cxccutc thc samc and thc Company has uscd all rcasonable cndeavours to get the Finance Parties to take into accouut all reasouable comrnonts providcd by the Govemment in a tirnely fashion in rclation to suoh documcnts.
-1. tt Water During lnltial F'ill During the initial filling of the reservoir during construction, thc Government sha[[ as far as rcasonably practicatrle in the circunrstances cause, or use all reasonable cndeavours to provide assistance to thc Company to cause, thc Project's hydroelectric facilities to discharge water at a rate which is consistent with thc initial filling of Yiben and which will not cause delay in the commissioning and testing of the Bumbuna Extension or Yiben.
1.9 l'lacc nten t of lnsut'irnces Subject to Applicable Law and Schedule 3 (Sierra l.eone Local Content Policy), the Govcmment hercby grants the Company, thc EPC Contractor and the O&M Contractor an cxemption from any 162125-+53-v10.

(, - 26- w\*" 70-4{}s6t 14 | {}F kvr \{p requirentent that tnight otherwise require lheln to placc any insurances in connection with the Project through a Sierra Lconc intemrediary or insurer.
l.l0 RescnoirIV anagement i.l0.l -['lrc Covcmnrent and the Company shall usc all reasonablc endeavou$ to agree a dctailed prott.rol setting out thcir rcspcctivc obligations rclating to thc monitoring ancl managcmcnt ofthe Yiben reservoir and its surrounding catchmcnt area and the responsibilities of each Party in relation to such lnonitoring and nranagernent (thc "Yiben Resen,oir Management Protocol") within thrcc hundrcd sixty fivc (365) days of thc datc that Financial Closing is achicved and in any case thrcc hundred sixty five (36-5) days prior to tlte conrruencernent of the initial inundation of the Yiben reservoir.
3.lo.l 'l'hc Yibcn rescrvoir Managemcnt Protocol shall rcflcct the following principlcs: (a) the Parties shall use all reasonablc cndeavours to cooperate with each othcr in respect ofthe monitoring ofthe Yiben reservoir and the Company shall: (i) carry out regular inspections of the Yiben resenoir (to thc extent that dris is rcquired for routinc opcration and maintenance of Yibcn) to rnonitor thc state of the Yiben reservoir and any encroachnrent of thc margins of the Yiben reservoir by unauthorised pcrsons or any activities by such persons rvhich thc Cornpany considcrs may rcasonably bc expected to (i) advcrscly affect the Project or the ability of the Company to perform its obligations under the Projcst Documetrts or (ii) constitutc a material risk to the safety of such persons: (ii) carry out social communication programmes with the aim of helping individuals Iiving near thc Yibcn reservoir understand the irnplications of living ncar the Yibcn rescrvoir and hydro-clcctric schcmc; (iii) carry out such othcr activities in rcspcct of the managemcnt of the Yiben resorvoir as are required pursuant to the Environmental aud Social Action Plan; (iv) procure ths installation ofan agreed nurnber of hydrornetric stations around the Yibcn resen'oir and periodically (or upon reasoruble rcquest by thc Govcrnmcnt) provide the Govcmmcnt with measurcmenLs rclating to the temperature, rainl'all, hurnidity.
wind speed, rvind direction, solar radiation and evaporation at the Yiben resen'oir obtained from such hydromctric stationsl (v) promplly notify the Covemmcnt if it becorncs aware of any environmental or social condition, risk or hazard affecting the Yiben resen'oir which the Company considcrs may rcasonably be expected to (i) advcrsely affect the Project or the ability of lhe Cornpany to perform its obligations undsr the Projcct Documents or (ii) constitute a material risk to the safety of any individuals locatcd at the vicinity of the Yiben reservoir; and (vi) communicate with thc llumbuna Watershed Managcmcnt Authority (or a project management unit to be establishcd in relation to Bumbuna ll, as applicable) on a regular basis to coordinate activitics antl orovirle6p l62J15-4-51-Y l(r.0 -27_ .
6Lq/ sy 70-4rrs6kr4 t - ,/ ),CI06r- +:y ,,N $1 'o''*oto' fr -t)L' 0'r,t ^-ti.r-t?fI9l 'EcJu paqsJolu,r\ cql.
;o tuauraieucru puu Suuoltuour cql ol uorltrlcr ur ,{lrpqrr; ro uorluirlqo ou a,rptl ;;oqs Xueduro3 cq1 1eq1 sacr8u tuatrrrualog oq1 puu 1,,fi;loqf nV luoruaEuurhl poqsrolE1\ Eunqung,, atll) luaue8eueur qcns:oj a;qrsuodsa: ,ftrluc :cq1o .ro ,!r.roq1ny lucurrucloD 1uu,rc1c.r cql ,{q 1no pJurer eq lleqs ecru porl$elu^i cql So ruaurcffuueu cqt lpql crnco:d 11uqs luruiurclo{) crll t 0 t t 'cJBAle AUOTAq aSr^UaqlO ser.l luauruc^og eqt qclq^\ Jo (lr) ro fuedtuo3 cqt ,(q tuauruc,rog crp ol pcurlou uoaq c^Brl (!)
qrlqm uxJu patlsrclu^t ll Jo llo^Jcscr uJql^ crll Surlccge sp.l?zer.l Jo s{srJ 'suoUlpuoe lBlcos Jo lp-tuauruoJrlue ,(uu (canJeld &tsnpul poog qllm eJuspJoJJe ur) cterpfl.uer ol sdcts alul ro clBlpcuar fltdurord '(s;t!t!t!qo!

't f )oS put) lDitotuuo.tt,tu'l\ f, csnrl3 ot tcc[qns (l) pue :Io,ucscl utqlA cql Jo .

(lrurcrl eql lB paluool slunpr^rpur Jo ArcJus aql ot Isu leualeru B clnlusuof, (u):o stucurnco6l tcalor4 aq1 rapun suoqu8r;qo s1r uuo.
;:ad o1 Auudtuo3 cql ;o,{11uqe cql ro lccfor6 cgt trquB Ilcs:c,rpe (r) ol pclccdxc oq,{lqeuost'.c: {uur qcrqm.lo^rescr uoqr1 eql Euqccae spJBzBq ro $[su'suollrpuoo lerros ro lstueuuoJr^uo duu go craar,u saurof,eq 1gr i(unduro3 cq ,(ytou ,{pduo.rd (l) :(luturuJc^o{) cqljo asucdxc put lsoc aql lP) lpqs ,t1uoqlny tueuuoloo lur?^clal cr.

{t l?ql clnro:d 11eqs tucultur^ol) (r) '.IO^lascJ ucqr^ crll Surlcogu spJearq Jo $lsu 'suorlrpuoc lptios Jo lclu3uruollnuc {ue.

;o uorlurpcruc: sq1 3o lcadsor ur .


{trlqerl :o uorle8rlqo .

(ur a,req lou llprls {uadtuo;1 oqt '(,irr./ir5.

pttD ruawvlpas,U 'ytl,ioH 'uoDaro.td lqaa.uuo.thlu.!)

9'1 asnul.

; pue (sa!tll!qD!1 lulcos pun lD!

autuorhtu'.t) , csnulJ og loclqns teql scoriu luoturuc^ol) crll (q) 'Xlgssacau,(lquuosnar ss c^oqe (^) ol (l) sqdo:3c.rrd-qns ur palsrl stcllnul ol uotlslal u uorlltluo.Jut 4.
E\\'IR0\NIt]NT,\I,ANDSOCI,\t,LIAIIII,N'IT,S 4.1 EnvironmentalConditions 4.t.r ln the cvcnt that thc Govcrnmcnt, or any rclovant Govcrnmcnt Authority or the Cornpany dctemrine at any time that cnvironmcntal conditions (excluding any Cround Condition Event) cxist at.

on.

under, or from thc land or.

with regards to the Yiben rcservoir, the watcr.
iu rcspcct of which rights have bcen convcycd to the Company and which conditions (i) do not conrply wift the Applicable Law or further requiremcnts rcasonably irnposed by the Finance Parties, or (ii) would inprde or make inrpracticablc or irnpossible thc perfirrmancc by the Company of its obligations under the Project Documcnts, tlrcn: (a) with rcgards to thc land which courprises the Site and which has been lcascd to the Courpany pursuant to the Land Lcase Agreement: (i) if such conditions have (i) arisen at any time prior to the date ofratification of the t-and Leasc Agreemcnt or (ii) uisc at any time following the date of ratification of the Land Lease Agreement due to any action or inaction by thc Govemrnent or a Govcmment Authority or an entity Controllcd by the Covemmcnt.
or arny contractor of the Government or Covemment Authority (other than thc Clonrpany or any Affiliatc or Contractor of the Conrpany).

the Govemmcnt shall rentediate such conditions.


Il the Covcrnmcnt has not complctcd thc rcrncdiation of such conditions within onc hundrcd and eighty (180) days of the date of the determination that such conditions exist, thcn the Company may at its option, upon ninety (90) days prior noticc to the Govemmcnt and Offtakcr (such noticc to bcgin no earlier than the end of suclr one hundred and eighty (180) day pcriod), and al the Covemnrent's expcnse.
perform such rcmediation to the extent rcquircd to comply with thc Applicablc Law or such fhrther rcquircmcnts rcasonably irnposed by the Financc Parties.

The tinre lirnits and deadlines for thc perfonnancc by the Company of its obligations under this Agrccmcnt and the Power Purcha.sc Agrccment that arc affcctcd by an cvcnt ret'ened to in this Clause 4.1 .
I (aXi) will be extcnded day lbr day for so long as such obligations .ue so a ffectcd; ( ii) if such conditions arisc at any timc following the date of ratification ol'thc Land Lease Agreernent duc to any action or inaction of rhc Company.
any AfTiliate of the Conrpary or any Cootractor, tlre Company shall rcmediate such cnvironmental conditions at ils own cost and cxpcnse to the extcnt requircd to comply with Applicable l-aw or such lurthcr requirements rcasonably imposed hy the F'inarrce Parliesi and (iii) if such conditions arisc at any timc following thc datc of ratification of the Land Lease Agreenrcnt due to any action or inaction of any third patty, the Cornpany shall retncdiate such environmental conditions at its own cost and cxpcnsc to thc cxtcnt required to comply with Applicable Law or such furthcr requirernents reasonably irnposed by the F'inance Parties, and thc Cornpany shall havc tlre right to clairn against such third party, in accordancc with Applicable Law, for any costs incurrcd by the Cornpany as a result ofsuch third party action or inactionl l6ll25-l-5 r-v10.
(t - 29- / -t.i{-' Ln"' }Dq\ \$e (t ) \,vilh rcgards to the Burrbuna I Land: (i) if such conditions havc (i) arisen at any time prior to Financial Closing or (ii) arisc at any timc following Financial Closing duc to any action or inaction by the Govemmcnt or a Govcrnmcnt Authority or an entity Clontrcrlled by the Govemment.
or any contractor of the Govemrnent or Govemment Authority (othcr than thc Cornpany or any Alfiliatc or Contractor of the Company), the Covcmment shall remediate such corrditions: ( ii) if suclr conditions arise at any tilnc tbllowing Iinancial Closing duc to any action or inaction ol thc Company.
or any Arllliate or Contractor of the Company, the Conrpany shall remediate such cnvironnrental conditions at its own cost and cxpensc to thc cxtcnt rcquircd to comply with Applicablc Law or such further requirernents reasonably imposed by the F'inance Pafties, and provided that the Company slrall not bc responsible lbr the action or inaction ofany O&M Contractor that is appointcd to carry oul thc operations and maintenance for llurnbuna L The timc lirnits and deadlincs for the pcrtbmauce by thc Company ol its obligations undcr this Agrccmcnt and thc Porvcr Purchasc Agrecmcnt lhat ars affcctcd by an evcnt referred lo in this Clausc 4.
I .l(bxii) (other than wherc therc is a Company Action or lnaction) will be cxtended day for day fur so long as such obligations are so affcctcdl and (iii) if such conditions arise at any time following Financial Closing due to any action or inaction of any third party, the Covemment or any Govcmment Authority shall relnediate such environmental conditions at its own cost and expense; and (c) u,ith rcgards to any Ancillary Rights: (i) (ii) ifsuch conditions have (i) ariscn at atly time prior to the date the Cornpany obtaincd thc bcnefit ofthc rclcvant Ancillary Right or (ii) arisc at any timc lollowing thc date thc Company obtained the bencfit ol' thc relcvant Ancillary Right duc to any action or iuaction by thc Govcrnmcnt or a Govcmmcnt Authority or an cntity Controllcd by thc Govcmmcnt, or any contractor of lhe Govcrnment or Govcmment Authority (othcr than thc Company or any Affiliate or Conlractor of the Cornpany).
thc Govemrnent shall rcmcdiatc such conditions: if such conditions arise at any time following the date the Company obtains the bcnefit of the relcvant Ancillary Right due to any action or inaction of thc Company, or any Affilialc or Contractor of the Company, and in breach of the Conrpany's obligations under any Sierra Leone Docurrent, thc Conrpany shall remediate such cnvirorunental conditions at its own cost and cxpensc to thc cxtcnt rcquircd to comply with Applicable Law or such further requirements reasonably inlposed by thc Finance Pa(ies; and (iiD ifsuch conditions arise al any tirne following the date thc Company obtains thc bencfit of the rclcvant Ancillary Right duc to any action or inaction of any third party: l6lll5-1-i.l-v10.0 - 30- h1- 0$ &v }gle (A) to Cornpany shall use reasonable endeavours to pursue any rights it may have against such third party to require the third party to rcmediatc such cnvironmcntal conditions at its own cost and cxpense; aod (B) the Golemment or any Government Authority shall use reasonable cndeavouls to pursuc any rights it may have against suclr third party (including under Applicable Law) to require the third pany to rernediate such environmental conditious at its orvn cost and cxpensc.
4.
1.2 l;or the avoidancc of doubt, rvith regards to any land which is not thc subjcct of Clauscs 4.1.1(a), 4.1.1(b) or 4.1.\(cl (Envirotrmental Condition.s), the Corlpany shall not at any tinre bc obliged to rcmcdiatc any cnvironnrcntal condition which occurs or cxisls on such land unless such condition ariscs: (a ) (b) at any tirne follou,ing Financial Closing due to any aclion or inaction of the Company or any Affiliatc or Contractor of the Company; and the Company is required to remediate such environrnental condition puniuant to and in accordancc ivith Applicablc Law.
.t.

: Social Provision 4.2. t ln thc cvcnl that thc Govcmmcnl and the Company dctcnnine at any timc that any obligati<lns or liabilitics to neighbouring conrmunities, organisations or Persons, including in relation to resettlenrent, crcation of hfrastructure, housing, provision of services or a:ry othcr social provision or frrnding of any kind cxist with rcgards to thc land which cornprises the Sitc and which has been leascd to the Company pursuant to the Land Lease Agreenrent.
then: (a) (b) ifsuch obligations or liabilitics havc ariscn at any time prior to datc of ratification of the l-and [-case .Agrcemcnt, the Govemment shall be responsible for performing such obligations and paying such liabilities without recouse kr the Cornpany, and thc Govemmcnt shall hold harmlcss and indcrnnify thc Cornpany on demand against any cost, claim, Loss or liability relating to such liabilities or the Govenrnreut's perfonnance or nou-perfonrance of the obligations rclating thereto.
Thc timc limits and tlcadlincs lor thc pcrlbrmancc by thc Company of ils obligations under this Agreement and the Porver Purchase Agreement that are affected by the failure of the Govemrnent to perfonn its obligations undcr this Clausc 4.2.1(a) will bc cxtcndcd day for day lor so long as such obligatit)ns ilro so alTected; rf such obligations or liabilitics arisc a1 any tinre after date of ratification ol the Land Lcase Agreemcnt, tlrc Company shall be responsiblc for pcrforming such obligations and paying such liabilities without rccourse to the Govemnrcnt and the Cornpany shall hold harmless and inderrnity thc Government on dcmand against any cosl, claim, Loss or liability rclating to such liabilitics or the Cornpany's pcrfonnance or non-pcrtbrmancc of thc obligations rclating tlrcrcto- 0(>r/ I 6l-125-l-51-v I 0,0 - 3l- Il?
\& \$ 1.2.2 The Company, and any Allrliate of the Company, shall have no obligations or liabilities to ncighbouring colnmunitics, orgalisations or Pemons, including in relalion to resettlement.
crcation of infrastructurc, housing, provision of serviccs or any other social provision or lunding ofany kind which may exist with regards to any land which does not comprise the Sitc, other than wlrerc such obligations or liabilities arise: (a) following datc ofratification ofthc Land Lcase Agrecmcnt; and (b) pursuant to, and in accordance with, the Resettlcment Action Plan or the llnvinrnmental and Smial Action Plan.

t62-125+5-r-!
t62-125+5-r-!

t0.0 - 32- UrY'/ p$ ,n*r*rnt$Y \s es -;$ '''t"nt'"' -rt - 01)l\-ii-t-stii9 r 40 clqnctlddy JO SUOTSTAOJd aqt q1r.r luotsrsuo5 e:e lstll suotlpuoc prrs suuat qllm est,rucqlo puu crlf rl1^r eruurlduoc alnsuc ol pornba: {lquuosual eru sB sluasuoJ aqt -1o fue .

}o le/v\eucl Jo aruunssr crll ol suo|upuoc puu sulcl qcns qcellu ,{eu Xlt.roqlny lu3tutucloD ,(utt ro luctuu.to,'io11 eql 'xul.
lo A\sl ur aiueq3 o1 3ur1c1a: luaurcolffV sttll ut suotstro:d aqt ot cctpnlo.td 1n<lqlt,46 ^\B'I sluosuoJ ol suoltlpuoJ f's 'ouus iqlJo c.rc,ru Surruoccq jo s,(eq sscursng (01) uol urqll.r luauruc^ol) cql ol lussooJ.
{o ssdul aqtgo slulcp qI,tr poda: c lrurqns 1luqs,(uedtuoJ crll 1ucsuo33:o esdrl AueSo luc^a erlt ul 'lucumJoC ccuuurc Jo luaulnsoc 1:e[or4 Xuu rcpun JcueuuoJrcd sluudruo3 crll lccge flcsrclpu ot,(gc41 A;quuosuo.r sr s]oprsuoa] fuudruo3 atll leql rrorlerrlddu luasuo3 Jo luasuoJ ,(ue Surp:eiar suolqord ,(ue osr:euruns osl?
lleqs godcr qcua Jo uoltJas tsJlt aqJ 'lucsuoJ ,tue .1o suorlelorn ,(uu 3o suortEcrlllou pun tucsuo3 ,tue jo lerucp ro lu^\ouoJ 'lueif cr.ll .lo pclrcccr seq ,tueduro.l Jrll turll suollef,l1llou Jo (oJDrrD i'r lr so leJ os) sntBls arll 'srlluour 'Surpuelstno uiql suoltu.llddu lucsuoJ 111) calsmt lxeu rql ur slucsuo3 Jo lr^\cual oqt ro.]
suouucrlddu ro luesuo:) ro.1 suo4ecrlddc Sutgturqns JoJ clnpcqos pcludrcrlun slt :(os ctBls 11eqs uodcr cql csuc qctq^\ ul 'uodo.r ol iutqtou sr croql ssr1un) 3ur,uo11og aql SurlsrI uoda: u'(c]ug suorlr'-rad6 tprr;ctuuoJ aq 3urmo11o.1 oor8u,(eu Auedtuo3 aql pue luourrur^o5) aql s'u,(cuonbag qcns lB Jo) a1e6 3uru3r5 erll ruo{ SuruurScq ,(pcgunb lseal le 'luauru.roloo orlt ol epsl!
eq ol asnuf, lo o{utu 11:qs ,(ueduto3 cq.g ^uu suo11eo11tld1, luosuo3 Jo snlBts t'g 'qrealq q s Jo paurlou uaeq sotl l(rreduroJ eql leql papr^old sluasuoJ rlf,ns ol Surpuage suorllpuo, pue suucl cqt 3o duu .
;o ,{uedtuo3 aql Aq qceelq aql Jo asnuJrq aroJ ur rg ol scsccJ sluosuo) rlonsJo Auu 'su 3uo1 su JoJ puu 'luclxJ cqt ol 'ucqn uorle8rlqo srql Jo qf,s.rq ur tq lou lleqs luauur^orJ ar{l tDrp papt^ord'a1uq Suruirg oql lauu Jo eJoJeq paurqqo rcqlerl/r\ 'luasuoJ i(ue,tro,resrp esmrcr{lo ro atuEo:qe tou llcrls lueruus^oD crll 'scrur?d lucsuoJ aqt Aq eutl ol aturl tuo{ pcJlnbcr eq rsui lEql s'luosuoJ arll uolqsrU {1aurr1 u ur sanssr lo sluu:3 {1r.roq1ny lucutuJo^oD luelJlal a[ll arnoo.rtl 11uqs ro anssr.ro;uu8 lleqs luJruruc^ot) eqt '(s'ruas'r1D .tol' suonnoryldy) l'Z S osnclf, ql.,n c:ruurlduroc s,Auuduro3 crll ol l$Iqns 'sltrasuo:) qJns 'urslqo ol Alussaocu suolice cIBl asl.,t\laqlo pue.roj uorlecrldde sl!
qllm paaco.rd ol slno^Ecpue clqeuosucl llu cslc:axc llBr;s pue sorued lursuoJ cqt fq porrnbar (cJucrr.I uotlelcueg cqt Surpnlcxc) slucsuoJ 1p ro1 suorleclJddy rsdo:4 tsatluoqlnv trrctuur.^orJ lue^clel oqt ot cpBut aq ot esn33 to elBur 11eqs ,(uuduro3 eq1 fis a'z s r'4 9 stuosuo3 roJ suoper;1ddy Z'g 'a3ucarl uor.l€guoC crlt JoJ uorlucrlddu s,{ueduo3 cql ol puodsa: pue asXlutre {pduord ol srno^Bcpuc eJqsuoscc: IIE csn lluqs pur,(uodtuo3 oql ol crutrr'I uortereuarJ orllJo o3upnssl crll loJ rlqrsuodsal ureruol llcqs lucruulr^o5 arp_ e l.s 'uotlscllusg rsryu alqe:r1cr,,rd Xlquuoscol s€ uoos sB cruact-l uouuJcuaD aql ro3 ,{luoqlny lucuurrr^oD lueAclet rql o1 uorlocrlddy :cdo:4 u elcu lJcqs (ueduro3 cr11 t.t s aruoJrluoltErrur3.ro.
;uollurr;ddy I'g s'IYAOUdd \', 0 NY S.Lt t.tu3d s A\ ^ \ Itl89i0t-01 $o\ r, f) 0 u .. ^L-l -z%lz l 7 / dcc,g ppq tuosuo] tue,tclir otll lxor.l^{ ol -nt' 001^-f5-hrar?91 lucsuoJ luu^clcJ crll {q crn1rc3 u ot enp lrul olqectlddy qltm acrmtldwoo ur r(luotpny tuauruc^oC u i(q pclo,rcr uaaq suq qJlq/r\ ^ued luesuo; (uego lc*\aual eql esneJ ro /r\euar ot uouu3llqo ou .topun Jq [[uqs luru.lurc^oD crll ?
L's pue :lucsuo) qonsJo enssr ro luurS cql .ro3 uoqecrlddy redo:,; e eletu ol pelrsJ seq luecrldde eqt Jr tu.suoJ s ,nssr .lo luu8 o1 rQuoqlny lucrrrr.r,r.^o9 luu^elaj cqt tsnua lo tns-sr Jo luur8 o1 uorluErlqo ou Jepun eq llBrls luauua^oD cr0 t'l.s :3uro6oro3 aql Surpuelsqlmlop'suorlucrldde qcns.
;o sscr8ord eql ol sE ,(tpoqtny lucrurrJclorJ luB^clcr cqt pus scruod lucsuoJ cql ucc/vqcq pue qI/r\ uosrell PUE suo4ecllddu qrns Jo lusluoJ eql ol sB a3r^p8 Jo lucruruc^oo qrns ro/puB lueuuoloD aql dq uorsraord arll '^ru'l alqecrlddy o1 lccfqns 'epnlcur lpqs poddns olqcuosecl qJnS '(.rTurslroJ tof suourpuo3\ l'S P.te lsr/ItdsttoJ tol suorlo.trldtly') 1'9 csne1,) .rapun suoquErlqo s,luor[ueloo 3ql qlrA\ 3ruuprorJs ur cpur.u cJl?
qJrqm slucsuoJ Jo lu^raucr puc orueuclur?ur 'enssr eql JoJ 1ccfo.r4 cql qtr^\ uollcauuor ur sarued tuasuo3 crll ,,{q suotlrctlddu jo,(lyoqtny lu3uruc^og lurr^clal cql ,(q SuqueJ8 Jql pue uollEtcplsuoJ ctll clrpcdxc ol suollc olquuosecr llo osn (osuc rl3se ur) puu uoddns 3lqeuosuoJ eprnord 11uqs dluoqinrg tucurtuclog q3ee l?qt 'clqecqcad {;qeuosuu sc JsJ su 'alnJord Iletls pue yoddns clquuoseer opr,ro:d lleqs luouruoloD crll'/nE'I clquorlddy ql1,n ecuerlduroc ot lmfqns'{ueduto3 cqt Iq tscnbcl uod6l ^luoqlnv slursuo3 u;u1q6 o1 yoddng L'g '1cafor1 aql ol uouelJr ur inul c;qucrlddy rllr/r1 csrJupJorse ur lJu scrlJoqlnv lucu[uc^o9 11o leql crnc(xd lluqs luiuruo^oD aq1 '.
{11u:auai slucuncoq ocuBurJ aql pup sluJunroq 1:alor4 aqt rdpun prrc tra[o:4 aqt luorucldtur o1 suoqu8rlqo slr Jo cJueuuo,lled s,(uudtuo3 orlt ot uortr?lcJ ut ',{uudtuo3 ctlt ot uoddns clquuospo.r cprno:d o1 sccrl;o poo8 s1r sasn,(luoq1ny luxuruc^ol) qcuc 'c;qecqourd ,(lqeuosuo: su JB.l se'1eql ornro:d 11eqs pue goddns alqeuosser cpraord ot sccA;o pooi s1 csn llur.ls luculrui^oC oql 'A\E"l clqeorlddy rprr'r acuerldtuoc ot lcofqns 'i(ueduro j aqt,(q tscnbe: agquuoseu uod61 suol;n811q61 .roy l.rotldng 9 S ',tuoqlnv lucluu:c^orJ loql ot Eurlelar csuo i(uu lcql anssr ro uelqo.rd Fuu3o uortnlosa: oqt Surtrpsdxa ur dueduro3 cql ol eouulsrssu clqnuose r Surpr,rord qtr,u pa8:uq: aq lleqs orl^\ pue sluosuoJ aql Jo Jo luctunco(l cruBurC 'lucurnJo6 lrJlord fup Jcpun pcgrccds se fuoduro3 cr{l ol suoup,flllqo s?rl lurll (lrJoqlnv tuauua^oD rlf,oc puu,(uudruo,l aql u3c^lteq uosrerl sc lJs llurls oqm ses,(oldurc rorucs al?uJtllu om1 pue ca,(o1duc roruos ouo lurodde 1luqs f.r;srur141 cq1 ^ur css ',(luoqtny luauru.rcrrog (ue o1 ffur1u1u csrre ,{eu leql Jnssr :o ualqo:d Xuu Jo uounlosu alpsdxc puu'Surpreic: scrluoqtnv lucrxruclo[) lue^apr aq't ql!/t\ lrlsuor ol ilqcllE^c aq ol lJsls slr.lo rcqrucul auo lsscl lu luroddu 11uqs ,(uuduro3 cq1 |s i uosr?!
'l s s '(3urso1;1 lutuoutl 3amo11o.l qnt{a11 Jb sqaag luauu.n^og.to.l uouDu,tu.tal) f'SI asnel.f rJpun tlnp.Jf,C.Io tuc^g l ut c8ueq3 e solnlrlsuoJ luJurtlJulle tlins ssclun) Qtnalbpi ,,o.4\ lucurruiloD E ro'(xEI Jo ,l osneJl Japm 1uc,r1 crncfuyq axloJ ?
'luauuJa^og aql Iq luauroc:8y srqtgo qeuelq B clurlsuoo Jlcstl Jo puu ur tou lleqs suollrpuoc puc suucl r.lcns Jo lucrurlosle cql pue stuetunoo(l lce[old cqt ^\E rrrrsoror $ $ d""q -s€ - 'p0rPeuar uacq seq atnlreJ rlsns sselun lucsuoJ qJns ot pcr{cu1B uorlpuoJ Jo uucl lurJclcr.u ,(ue ,(q cprqu ot pcnssr P,\\'NII,]\T SIiCURITY 6.
6.1 Partiul risk guarantec 6.|.I T'hc Govcrnrncnt shall apply f<u' a partial risk guarantee hom the Intcmational Dcvclopnrcnt Association ("IDA") or another multilateral developmcnt bank (the "lssuer") ftrr a rninimum amount ollhrec (3) rnonths o[Capacity Clrargcs under thc Powcr Purchasc Agrtcurcnt and up to, but not cxcccding, six (6) months of Capacity Charges undcr the Power [,urchasc Agrrcntcnt, 6.t.l Upon the application for lhe partial risk guarantee bcing submittcd by the Gol,crnmcnt, the Plnics shall (and the Govcrnrncnt shall procurc that thc Offtakcr shall) use all rcasonable sndcavours to pursuc the application for and obtain thc partial risk guarantce in accordance with tlris Clausc 6.
I (Purtial ri.

:k gua,?xlec) prior to or at Financial Closing, including to: (a) coopcrate with each other and relevant third parties; (b) providc each othcr and rclcvant third panics with all rcasonablc assistancc and respond in a limely manner to all reasonable requests for information.

including the Issucr's due diligence processcs: and (c) ncgotiatc thc partial risk guarantce docurncntation with cach othcr and rclcvant third parties in good faith.

6.1.3 Tlre Parties acknowledge and agrec that.
subject to Clause 6.1.4 (Partial risk grurantee) bclow, they shall usc rcasonablc cndcavours to scek a partial risk guarantcc on similar tenns and oonditions as that providcd for the CEC Project (to the extent such terms and conditions are applicable to the Projcct), which compriscs: (a) thc following broad componcnts: (i) (ii) lhe provision ofa letter of credit by a cornmercial bank with a credit rating acccptable lo the Finance Panies: antl the abiliry for thc Company to make dernands against thc letter ofcredit for thc amount ofunpaid invoices; and (b) the following docunrentation: (i) a lettcr ofcredit providetl by a commercial bank; (ii) a rcimhurscnrcnt and crcdit agrcemcnt betrvccn thc Govcrnment and the Offtakcr as bonower and the comnrcrcial bank as lender: (iii) a guarantee fiom IDA in favour of the cornmercial bank guarantecing lhe (;ovemmcnt and the Offiakqr's repayment obligations under the rcirnburscment and credit agrcemcntl (iv) a projcct agrecmcnt betrvccn the Conrpany and IDA containing the ings given by the Cornpany in favour of IDA in relation 10 thc undertak Projcctl l6lll5-,1-51-v 10.0 - 36- 70-10s681.11 tlp \& \$e (v) an indenrnity from the Government in favour of IDA whereby the Goveflrmcnt iudcmnifics IDA for payments made by IDA to the cornnlcrcial bank undcr thc guarantce; and (vi) a coopcration agrcelnent between IDA and thc Offlaker.
6.1..1 Thc Parties acknowledge and agrce that the lollowing cotnpoucnts of the panial risk guarantoc will bc ncgotiatcd by the rclcvant partics on a casc by case basis: (a) (b) (c) (d) (c) the anrount ofthe partial risk guarantee; the term ofthc partial risk guarantee; thc pcriod ofcovcragc under thc partial risk guararltee; the ability of the Conrpany to rnakc dernands against thc lettcr of credit tbr thc payment ofdisputcd amounts pending resolution ofsuch disputes; and the extent ofcoverage.
ifany, for unpaid termination payments.
(r. | .5 Prior to or at Financial Closing, tltc Parties shall (and thc Govemmcnt shall procurc that thc Offtaker slrall) each oxecuto lhe relevant documentation lomring the partial risk guilrdntce puckage requircd to be cxecutcd by it, provided that the tenns of such partial risk guamnlce documcntation arc acceptablc to it and: (a) (b) the Covenrment agrees that it shall not withhold or delay its agreemcnt to thc form of such docrunents to the cxtcnt that the panies to such documents (other than the Cornpany) request that they arc substantially in the same form (mutatis mutandis) as the cquivalent documents in the CEC Project; and thc Cornpany agrees that it shall not witlfiold or delay its agreelnent to the form of such documents to thc extent that such documents are substantially in the fonn that would bc cxpcctcd for a similar projcct in a similar jurisdiction.
6-1.6 The Panies acknorvledge that ccrtain terms of this Agrecmcnt and thc Powcr Purchasc Agrecmen( u,ill rrecd to be amcndcd to reflect thc tenrs of the documentation forming the partial risk guarantcc packagc and the Partics shall (and thc Govcmrncnt shall pnrcure that thc Of'llaker shall) discuss in good laith and seek to a-qrcc such changes as soon as rcasonably practical upon the tcrms of such docurncntation being agreed betwcen the Partics and thc rclcvant third partics.
6.1 Eristencc of Offtaker 6.2.t 'I'he Govcrnrnent rvill cnsurc that the Olliaker rclnains in existencc for the tcnr of this Agrcelnent.

providcd, horvcvcr.

that notwithstanding the fbrcgoing.


thc C;ovommcnt lnay privatisc or rcstructurc any or all of the functions of the Otftaker if such privatisation or rcstructuring: (a) does not have a material and adversc effect on the ability of Ofllaker or any succcssor to the Offtaker undcr the Powcr Purchasc Agrcemcnt to pcrform its obligations thereunder, including the ability ol the Company to enforcc its Sig\$a 7 urrder the Powcr Purchase Agrcement; and Urr"ilU ilv '*U"*ro,rF _37_ l6?-115-{-51-v 10.0 ,14,,*,*.
d$ ho -8i - rfl)lr-ri l-Saai9l 'rclullJO crpgo 3uun1cru1scr:o uorlesnn,r,rrd o clnylsuoJ JlcsltJo'lou llBqs l.t,lluo.

qJns Jo suual atlt ot lrelqns pun uo ssaursnq s.lcIeUJO arp 3o lucurc8rtmur atp uoddns ol luellnsuoo luctuc8euetu B tlll,n tialuos u olur ,fi1uc s,JoIeUJO erp teqt oo:3u sauud crl.L t (.
'g eq llsrls 9 osncl3 snlt 3o suorsr,,ro:d aql rnr/( ,(lduroo o1 tucuru.ralol) aqt Fq c:n1rE ,(uy f i 9 'tucruccr.3y srqt lo qrEuq lBuclour e cq ol pcuraap luctutuJ^og oq1 go suorle8rlqo cql eJnpu l;uqs 8uun1crugs.J Jo uorlusncAlrd qcns o51 i-1,'9 'laIelUO ern ol lrod$l qlrm luauoat8y stql lJpun aalueren?

lsrr ;urged ,(uugo (1r1qus::o,;ua ro {trpqu,r 3ql tr3JJe f;asrc,rpe lou scop (q) 'oloraql 3ur1e1cr 7.

FoRI.

]IG\ CLRRENCY EXCHANGE,\ND TRANSI.

'ER OF FLNDS 7.1 Availnbility of lbroign currenc!'


Sulrjcct to Applicablc Law, thc Covcmmcnt shall not and shall procure that no Govcmment Authority shall in any way restrict thc conversion of funds frorn one curency to anothcr by or on bchalf of thc Project Parties or rcslrict any payment duc and payable and requircd to bc rnade in Dollars by thc Govcmmcnt or tlrc O.fliakcr undcr this Agrccmcnt, thc Power Purchasc Agrccmcnt.
7 .2 Bank Accourts '7.2.t Foreign exchangc providcd to the Conrprny by l'inance Parties and used to pay tbreign cr)nlractors or vendors in respect of sen,ices provided or equipment or matcrials purchased outside Sicrra Leone may bc paid directly to such persons and not conductcd through bank accounts in Sierra Leone.
l'oreign cxchange received pursuant to a successful claim made under the insurance policies rnaintained by thc Company, or rvhich thc Conrpany is othenvise a bcncficiary of, or in respect of any Project Document that the Company is a parly to, may be retaincd abroad and need not be conducted through bank accounts in Siemi Lcone.
Thc Govcmment shall cnsure that upon Proper Application bcing rnadc by thc Company thc rclcvant Govenrnrent Autlrority shall: (a) give the Cornpany and thc Contracton all nccessary conscnts for the opening.

opcration.
and rctcntion of Forcign Currcncy bank accounts insidc Sicrra Lconc for the purposcs ofthc Projcct (including the payrnent ofall foreign exchange receivcd under the Finance Documents or otherwise by the Company into such accounts and withdrawals thercfi om); and (b) givc the Conrpany pcnnission to maintain bank accounts outside Sierra l.conc tbr the purposcs ol the Proiect and to transt'cr f'unds from its accounts in Sicrra Lcone to its accounts maintaincd outsidc Sisrr.r Lcone as arc ncccssary to irnplcmcnt and carry out the Project in accordancc with and in order to carry out its obligations and cxercise its rights under this Agreement and thc Scourity Package including, u,'ithout lirnitalion.
such accounts as arc rccluircd undcr such Sccurity Packagc, provided, howcvcr, that nothing in this Agreement shall prcvcnt the Company.

or the Sponsors horn opening, opcrating.

transfcrring moncys to and retaining rnoneys in additional forcign cuncncy bank accounts outside Sierra Leonc from timc to timc after the Signing Datc.
7.3 Frcc Transfer of Neccssnrv Funds 7.1.1 The Covcmmcnt shall pennit the free transfer of all funds and financial settlcnrcnts nccessary to implcnrcnt and carry out thc Projcct, or thc irnplerncntation of this Agreenlent, the Projcct Documcnts.
the l-inancc Doculnents or any olher agreenrent or document fonning pa( ofthc Seculity Package or to allow the Clompany to: (a) rcpatriatc any dividcnds (or distributions ufcapital) to its shareholdcrsi or (b) pay any principal or intcrcst that is due to I 6:-]25-.1- i.r -v I (l (r - 39- \v &hr/ s( #' ,s,,,*"*.

4t ,Tq -0i - 0 0lr-fs-tssifi9t .

(spun!
lo nlsuot1 puo aBuoqra ituattn2 uSlatogl I esnell slql ol lcaJlc IgU enF o1 f.lnssecau cq {utu sa sEurql qens IIB op seurJor{lny luoruruc^oD luslelal llu lurll arnco:d 11rqs luourur^oo crll salllroqlnV luauurt^o3 Jo uopurado-o3 tL ',(euc.unc u31cro; u ur ro :sueol Jeploqarsqs rapun $aploqa[qs $r .s?rusd oruaulJ erll ( lt) (l) tt 8.1 COVENA\TS -i\ssurance Against Discriminator.r" Action 8.LI Thc Govcmmcnt shall not take or pcnnit any Govcmrnent Authority to take any discrinrinatory aclion which materially and adversely aflccts the Pro-icct or the porfomrancc of tho Cornpany's otrligations or thc enjoyment of the Company's rights undcr this Agrccmcnt, thc Powcr Purchasc Agrccrncnt or any othcr agrcemcnt rclating to thc Project to which (i) the Govemment.
the Otllaker or a Covernment Authority, and (ii) the Contpauy, a Contractor or a Finance Party (as thc case may bc) are a party; provided, that thc folcgoing shall not in any rvay lirnit or rcstrict the ability of Govcmrncnt or such Govcrnn:cnt Authority to lreely agrce with or inrposc upon conrpanics and investors in other projccts differcnt teuns from those sct out in or irnposed pursuant to this Agrecmcnt.
which: (a) are consistsnt rvitlr the Govemrnent's applicable policy, as dcvelopcd from time to time and do not materially and adverscly affect the performance of the Cornpany's obligations or the cnjoymcnt by thc Sponsors or thc Company, iLs Contractors or the l'inance Parlies of its rights in rclation to the Project: or (b) arc justificd by a rclevant factual diffcrence between the Sponsors or the Company or the Project and the other company, investor or Ofliaker and do not violate the Cornpany's rights undcr this Agrcerncnt or thc Powcr Purchasc Agrccrnent nny otlrer Projcct Document to which the Covernmcnt.
Ofliaker or any other Government Authority is a party.

lr.

t.2 Nothing in this Clausc 8.1 shall: (a) apply to any actions taken by the Governtnent or any Govemment Authority pursuant to their respective rights and obligations undcr this Agreement.

the Po*,cr Purchase Agrcemcnt or any othcr agrcemcnt to which such cntity is a party; or (b) prohibit or lirnit in any way the Covernment or any Government Authority frorn nraking rational distinctions between partics or frorn utilising measures.
cstablishing conditions, or cnlorcing rcquircmcnts that arc, in cach caso, intendcd or designed to advance thc purposes of the programme or policy being irnplemented by the Government or a Govemmcnt Authority.

8.2 Acquisition of Sheres or Assets Thc Covcmmcnt undcrtakcs to thc Company that ncithcr it nor any Govcrnmcnt Authority will (a) carry out a Sharc Expropriation Event, or (b) carry out an Expropriation of Control.

or (c) otherwisc compulsorily acquire, expropriate.
requisition or nationalizc the Project (or any pan tltcrcofl thc Conrpany or any asscts of tlre Cornpany, the Financc Parties or thc Contractors.

D. -r Restriction on Transfer of Shares 8.-1.
I Thc Cornpany undcrtakes to the Govcmmcnt that it shall: (a) procure that there are no changes to the direct and indirect ownership of the *ni"ffi, Company as shown in the Ownership Structure Chart other than "n*t"* l6ll:S-4-5.1-v 10.0 _41_ s\t' ',*u**,.r[[L A(\otF 1/- \ I IntesuFrt d$ ,) '[0 ,..,f) 'scregs {ue3o:a3suer1 lucnbasqns cqr ot ,{ltltlu srpuulrlur \^rrernu , 1ffisig'g csnul) snll Jo suorsrao.rd eql 't'8 asnulJ snll Jo strorsrrrord aqt.lo uouue^p,rluoc u!
$JeqS .,(ue rcgsuerg lou llerls JotseAul peurpn| mrs3sual qJns tcrlt c.rnco:d l1cqs fuedtuo3 cql pue rorcJsual cgt '(,,roroJruBr1-.
crn) u<xs:cd fue (q (.,ro[a,ruJ pegltBn} coreJsuBrl.. aql) asl.irue$o Jo rolsc^ul pogrluns {uu o1 pa.uajsue.rl a.to sareqS ,{uu;1 'Li - (r0 t{-t l-}.-i;tz9l '0t'C's amBll ur rrotsa^ul pogqun$,,3o uorlrugcp aqrJo (r) pue (g) sqdurfured3o sluctuurnbet cql seusnss oqlt uos.rcd sr scJsqs qxnsJo ocJeJsuul elll (q) puu it(uuduro3 aqllo loluo3jo ciuuq3 s ul llnser lou lleqs rcJsuurl qons (B) :tuqt papr,rord 'salPqs aql roJsrrBrl o1 pcllrtu:ad aq fleqs lcplorJsrBrls qree 'oteq suortered6 lercrouuroJ oqljo f:usraaruue (p,,2) puoics cql ol:oud crurl ,{us lV -srotsc^ul pcUlten} ol ueql Jo ,tuc :o saruq5 aqt rqsuErl ot pattruued eq IFqs roploqerEqs qcea pur:osuod5 r{JBo 'olsg suorlercd6 lBlrlauuroJ aql .lo fuos.le^ruue (n,7) puocss oqt reUB orurl (ue ly 'guctuccr3y srql Jo luculluc^og cql ,{q qcuorq lurJel?u e aq ot paruoap aq llcqs uorsrlo.ld srqt 1o qmarq ul ra3sur"4 qcns {uy 'tuctuuero{) aqt (q os op o1 pelscnbcr alatl,11 tt pol$nba: Eut,ruq tucsuoo qrns pa^leccr lou suq pue reJsuer a qcns roJ lucsuoo ,srcpucl eql uletqo ol parrnbc.t sr l!
Jr {lqeuosrar 8ur1ou eq ol paueap eq lpin [ueduro3 oql loql prpl^o]d 'pe,(e1ap ro pleq$l/tl {lqeuosuerun eq ol lou luasuoc qcns '{ueduo3 orll Jo luosuoJ:oud eql 1noq1m (flpoqtnv luJrurxo^og Jorllorru ol luourccrSv csurlf,Jnd Jc^\od crll jo lccdscr ur 'netll :cqlo) uosrcd rcqlo ,{ue o1 lolgucrltldu sa) tueurosrSv cspr{und Jc^\od aql ro lueurear8v srql Jepun suorluBrlqo stl ralsuull ll!/$ Ie{euJo cr{l Jou 1r leqtleu }€rll arnoord o} seuSE oslP lueulula^oc aqJ.
'lucurcc:8y srql 3o,tueduroS lerrcl"u n aq ot poueap rq lleqs J.JsusrJ qrns ,(ue 'lqnoP Jo cruoplo^D oqt cql ,(q rl3€c.lq ro3 puu luaurce:8v cseqclnd JcArod crll ro luauacr;V slql lueld eql lccloJd cql 'durrdruoJ Jtll tltlAl uorlreuuoJ ur Jo 'ol Suqrlor '.ropuu 'ur suorpffrlqo puu stq8F '(saJBqS puu slsuetur fynba Surpnleur) slsa.rotul 'sluaurq carloadscr loql lo luauntroq ltafor4 rcqlo Xue ro lrrctuear8v srql lugld oqt 1cc[o:6 crll raJsr.rcrJ 'rsr^ucr.lto Jo lorluo) Jo cir-ugqJ '(lou llerts 'IJols Jo clEs 'uorleprlosuoc 'roirar.u.lo r(em ,{q rcqlaqm ',{ltrurpur Jo setullrJJv slr puu srosuodg 's:aplor{rrolls cql leqr arncord 1leqs pue) tou llurls {uudtuo3 cqt '(r'rJrryS.
Jb nlsuD.rl uo uott)tqsaY) C g asnol] strll .lo suorsr^ojd cqt ot tcalqng ^llJaJtp 'uoqducsord qcns lo3 uosccJ alur:dorddu uu oq Jlcslr Jo puu ur lou lltrls Jolsc^ur uSrutr3 e cq plno^1 rolscr',ur pcsoclo:d p ltqt lcDJ cql tuqt pasruSocar Surcq ll ',{updnro3 crlt ul soJtqs plorl ot Jolsa;rur uiruo.
; qcns JoJ auoe'l BUaIS Jo slsaralur dtunccs leuorleu cqt ol lerolpnlcJd aq plno^r ll luql uonol)srp alos sll ur sroprsuoc lucufluc^oc crll cisq/t\ uEql rcrllo '{pccr1pu1 :o ,{1lcarrp ,tuudruo3 otll ut sa:Eqs Surploq uto.r;:o1sa,rul ufra:o3 (uu aqucsord 'lr.e1 alqccr;ddy,(q y ur porsal sro,trod eqtgo as^lJJeXc oQl ul 'lou llsrls lr luql .^uuduro) oql ol sclr?Uapun luaururc^oD cqJ 'dno.r.3 sfuudruoJ crllJo JaquJur qcur,(q g g rsnulJ stqlJo of,uerldulor crncord (q) 9'f'x it.s ttrl fe8 z!-8 pur: :['8 as-nn1.)
slql ,{q pillrurid rsr^ raqlo (ll) Jo :luaruuro^o5 crlt Iq ol pcluasuoo (l) ,,F n\$'o'*,'0'-o' -tt - oolr-ii-t-szi;91 <r1 /* fl 'cuoo-l BrrcrSJo slsa:o1ur [1r.mccs leuorpu aql ot lBcJr.ll u aq lou ol 'uorlaJf,slp alos sll ur 'sJaprsuos luauue^oD aql oq,n Surlsonur urorJ ,re'I clqellddy oql xg pclrqrqold sr teqt .,qrlsuortuu uJo tou sr oqlr puB :cuoe'l aucrs ur (r) (q) put2 :lucural8v srqt qlrAr acu?prooou ur lcafor4 cqt tce.
;3e ,(11utuaruq1cp puu ,(llerroteur o1 ,(1c{1un sr Jolse^ur qJns Jo uorlJnpoJlur cqt rBql pausrlBs ,(lqeuosecr Surcq luctuurcnog cqt uodn puu lccfor4 cql ol uorlslcr ul Jcplorlclprls acJc.lsue.rl jo suotle8rlqo aql ur:og:ed ol lualf,UJns saolnoso.r pue $cssz Suraeq stcal'<.r.rd :cr*od ur Eurlscrur Jo sJRa,( (C) coJql ucr[ aJour .
;o aousucdxe Hurrreq (e) :uos:cd e sueau .,rolsrluJ peg;1unQ., puu ircuueu ,{ue ur 3o csodsrp csr,nreqlo ro ,{Uud p:ltll u roJ eelsrul u J[3sll arulf,ap ro i(ged prnp EJo.rno^oJ ur tsrul E arelcap 'llueuraariy stqt fq pelelduttuoc Jo paDtuuad r(lssordxc aJcq,$ 'cseJ qJBo uI 'ldatxo) ela8clop ro lcr.uuorqns 'ssf,uDrqurncua ,(ue operc 'fcnuoo '.rs3suer1 'uSrsse 11es surrau .rreJsuBJL, :f'g osnolJ srql;o scsoclmd crll Jorl 0l f ri ',{uEdr.uoJ eql .lo lortuo3 Jo a8ueq3 1en1cu ro prsodold ,{ue.1o luauru.lanog cql ,{3uou Fpdurord pue :['8 csnulJ slql ur lno lis suorlJlrlsor oql ql,r e:rucrlduroi ul lou sr tuqt {uuduro3 orlt Jo soJBrlS Jo Jsjsue.rl pagod:nd ,(uu ol tca.;.
;c e,rr3 ro :a1sr3a.t 1ou (P) (r) :C.R as-nB[:) srrll ut qUoJ lcs sJeJsuuJI clprls uo suorl3ulscJ cql Jo cJrlou uo [r4ldsJ oleqs qJns Jo sreseqcrnd c^tltodsoJd lnd ot se os soJeqs.

;o drqs:au,ro cqt Sul raprAo scleJurue3 ereqs 11u uo spua8al alsrrdordde 'me1 alqecrlddy Xq pauruued lualxc aql ol 'apnlcur (q) :t'g esnBl] stl.
{lJo suorsrlo.rd aqt qlrm aoucrlduror crnsua o1 lueurcc:8u ,sJePlor{cJBrls ,(ue puu uorlurcoss8 Jo salsruP slr ur suorsr,rortl clerrdo.rdde eluru (E) :lJeqs XueduroS ar11 6 f li 'Burso13 lercuuurl 1e panouer ,(11dr,uo:d sr s3JuLls aql JcAo ccu[Jqulnru3 Jr{t lurll cJnsuc ol uolel cJu sdcls carlu.rlslururpc ,{nsscccu crlt'lucru{ud qcns 3ur,no11oj luqt (q) pu?

lEursolJ lBrruuurl tD paUrur.I (sBurploll) Bunqurng c1no1 ,(q pa^rccu spunJ aqt uro{ llnJ ur prud .
{pduro.rd eq 1p,n ,(cqt 'paUuu'l siurp1o11 :c,ro6 ,(3.rcu3 ro^Erpu:l o1 c1qe,(ed pue cnp lloJ surrls qf,ns Jl (r7) :luql salnuapun pc11u11 1sBu1p1o1 1) Bunqung cgnol 'Eutso13 lercuuur:l sa^crrlou t.cfo:d ctll Jl pclpul'I sSurpJog :anro,1 f8:cui1 :o,rcpug o1 clqz{ed ,(lluc8urluoc suns ursucl 3o lccdsc-r ur pclun'1 sfurp1o11 :emo4 fSrcug roluepug Jo Jno^uJ ul scJDqS rql loAo eruulqruncuA uu lsrxa ol pue tuui ol stucuJnooq tcolor4 eqt jo rlouolq ?
cq lou llt^{ U 'SursolJ [ctJusurJ ol ]orJd Sfll ^\ollu -tp' ^ tsr 'ttr-r?r8e!0i-ol t A$ '{$ ,r,rrrry eql rcqr ltc.ue oql or'srolrpn' $t.lo uotratll uotutdo ue [q pcruucturocce puu lelap i^rlqBuos:rcl ur ;le'rco,( lucsg ?urpcecrd cql:o3 scrnEg cql uJo.I c.,rr1arcduroo u1 qpol 3ug10s .
;14d hsw qcnc urrea,( Iersg eql roJ dueduo;1 aql;o uottrsod lultupug ut sa3ueqc put s8utruca v " y' pcurelc.r puu auocur Jo sluaualels puu (euoa'l ercls ur ',(uuduo3 aql Jo $olcrlrp Jo pjeoq Jql ,(q ro me1 alqecrlddy cql Iq pc.rrnbc.r tuJlxc aql ol'pus) sJ€lloc ut pcleurulouap ':ua,( lecsg cql Jo csolc eql Jo ss (neduto3 aql ;o pannba.r loerls acuuleq aql Jo serdoc oml lueuua^oD aql ol qslurnJ'rea[ leasg qcccJo asolJ crll JruE (,nu"1 elqecrlddy cqt {q pcrrnbo poucd rogoqs ,(ue ro) s.{eq ssoulsng (0Z I ) &ua,ru pue p punq tuo urgy/r\ 1ua,ra,{uu ur lnq alqele,r?
sa uoos sD'11oqs dueduo3 aqt Juauucnol) eql uol.]
{Iutucpur Jo srnpu ,(ue pcjtnbc.r sErl rlsrqm sscupatqepul lrcfo.rd ,(ue.lo 11n3 ur luau udo: arll luun 'ccrlou ;oud clqeuoszcr {uuduro3 cql Surrrrff uo pue asuadxe pue lsoo u^\o rraql 1e lcedsur ol pallqua cq llerls lu3ruula^orJ otll splorar qcrqm '1e1qucr1ddu su) tccfo:6 cr{t ocueuelureu pue uorletado 'iuluotsstuttuoc 'uotlclulsuor 'ctruunsur 'SurJueug 'uErscp aql ol Eurlelc.l suoqJesur.rl 11e :og Suqunocoe (cuoc'l euels ur ',{ueduo3 oql Jo sroloenp Jo pJeoq oql ,(q :o me1 clqecqddy eql poJrnbeJ tuclxc Jtll ot 'puu) srelloq ur spJorcJ ,te.lnrJu pue olslduroc utolutuul 11tqs ,(uudtuo.1 aq1 ^q t's rl a i'li 'lucururcAoD eqt ot olqelda:lce ,(lqeuosee: sluelunoc:re porcuur{i lucpucdepur go luau4urtxldu eql :o3 puu urats,{s lonuoJ lsoc puu Surlunoolc uu 3o uorlr.lado pue uollellu}sur aql ol lJcdsar qllir\ luJrxurc^oD eqt o1 fuopejsqes ,(lquuoscer slucuaSuu:.tu clstu lletls (uBduto3 cq1 l s'li s1.rodo6 pun slunorl\: S S 'luauruaAoD eql ol (ueduop oqt,{q pagnou uocq c^eq qclqm puu eleq SuruEr5 crll lD lra.l;e ur slqfi!.l uorldura -crd ,(ue Jo csrrJoxc aql uo{ ro lenorddu ucllun roud s1r uarrr8 seq luau:urcloD aql q5rq.,n ot sr:uqsyo Suucgo llqnd {uu'fftrr:ej1o crlqnd lunrur ,{ue ruor3 fiursr.ru re3sur,..r1 ,{ur ro :(,(ucdruo] Jrlt ur 1o.rguoJ3o ciusrlJ t ur tlnscJ lou ll8qs JoJsurrrl q.
)ns lstll pcpr,rord) sraplotlcrsrls ,rll uocilqcq suuqs Jo rojsunrl ,(ue :(olqscrldde sB)Joeroql alerlUJV ro rosuod5 Supre3suurl aql go alElJlIJV uB cq ol ses8eJ cleltlJJV eeJeJsuerl qtns ssrlun 'sclEllUrv tlcns uca/$eq Jo JooJaql sq?1*rv pw :osuodg u uac^qcg rcJsuuJl:o s:osuodg uoJlrlcq JJ.rsuarf ,(ue '(sa.rl-lr15 lt .tatsuo.tl uo uou)u$ay) 9't'8 asn"tJ Jo (u) qde€ued u uotlJuls.rJ cqt ot lJalqns 9tN s i.N tiri :lenorddu uapu,n toud slr ua,rrf seq luauru:a^oD eql qcrqm o1 rc3.^uer1,{w f r'8 :gucluac.rBy 1celq.
(ue pue cEu>1ce4 &gnccs crlt tltr^i aruup:ooce ul scJpqs i(uu.rc,ro lo ut lse.larlur {lunccs a3o lucurcf,Jo-luc lo uotlsf,J, orll rxo{ 3ur11nsc: rcasuar.l- r(ue a'n 8 :uouf,rpsunl clulrdorddu qtr,n l(tFoqlnv tu.
]ruua^o{) Jo '[sunqul 'Ino:r u go rop:o fq ro mu1 alqectlddv crltJo uouuodo aql ,{q ro mr1 alqecrlddy,{uu Aq pcrrnbar:a1suu1 ,(ue t r'8 :o1 ,(1dde tou llDr.ls ls'a.ox1|lo nJt;un.tJ uo uotlrt,n:raY) t 8 asnel) ul suorlJulsal cqt'Eulo8croJ aqt ol acrpnfcrd tnoqll.rtyluatuca.rf y srql o1 i(pe6 qcea uo duedtuo3 oqt ,(q pca:cs ,{pdruo.rd ?uraq aues cqlJo ccrlou E rl}l/$ '6002 }o g'oN lrv scrueduo3 qI^\ etu?pJo3cu urcuop aq lluqs screqs Jo JeJsuEJ.L {ue leqt alncord 1leqs ,{ueduro3 cq1 suopduroxarcasun,rg f'B sktements lrave bcen preparcd in accordance witlr generally accepted intemational accounting principles (until such tirne as Sierra Leone adopts its orvn generally accepted accotmting principles, at which timc such principlcs shall apply), and that the cxamination of lhc accounts in connection with thc financial statements has been madc by lhem in accordance wilh gcnerally accepted intemational auditing standards (until such time as Sicrra Lconc adopts its own gencrally acccpted auditing standards, at which timc such stondards shall apply).
and included such tests ofthe accounting records and other auditing procedures as wcre considcred nccessary in thc circumstauces.
8.6 Scopc of Activities The Conrpany agrees that its sole activities shall be in connection with the implcnrentation of thc Project and the performance ol its obligations and enforcement of its rights under the Project I)ocunlcnts, thc Financc Docurncnls ancl Applicablc L:rrv, and that it will not: (i) cngagc in any othcr activities; or (ii) fbrm any subsidiaries or otherwise purchase or subscribe to any equity or other intercst cntitled to (u,hether imrnediately or upou conversion) voting or othcr righls of managcmcnt ()r control in any othcr company, in cach case without thc prior writtcn consent ofthe Govcmmcnt.
{1.7 Indcbtedncss 1'hc Conrpany shall not without thc prior written approval of the Covemment: It.7.l incur any indcbtcdness with a term extending bcyond the stated term of the Porver Purchasc Agrccment.

or tt.7.2 incur or have outstanding indebtedness (other than Permitted [ndebtedness) upon cxpiration of thc tenn of the Porvcr Purchase Agreement.
ti.lt r\ rrn's length transaetions Fixccpt with thc Govcmnrent's prior writen consent (not to be unre.Lsonably wi*held or denied), the C:onlpany shall not enter into any agrcenrcnt.

arrangcrrerlt or transaction with afly Person, cxcupt t() thc cxtcnl sucl) agrccmcnt, arrangcmcnt or transaction is: t.1{.t a Projcct Document (other than the O&M Contract).
a Financc Doculnent, or thc Burnbuna I O&M Contract, rvhich shall cach autonratically bc dccmcd to bc cntcrcd into in accordance with thc requirements of this Clause 8.8.2; or s.8.2 is cntercd into: (a) (b) (c) in the ordinary course of businessl on an antr's lcngth basis; and orr nomral market tenns tbr a company in similar circumstances.
providcd that thc Conrpany shall providc a copy ofany agrccment and details ofany arrangcment or transaction, that it entcrs into having a total annual contract valuc or aggrcgatc schcduled paymcnts duc from the Cornpany in any given ycar in cxcess of two Itundred and fifty thousand dollas (U55250,000) (CPI indexed) within thirty (30) days of the lalcr of (i) thc datc thc Company cntcrs into such agrccmcnt, an?ngerncnt or lransaction: or (ii) the datc on which such agreemcnt, arrangerncnt or tmnsaction becornes rmconditional and cffective in accordance rvith its tcnns.
l62lf5'4-5J'vl0.0 - +5- @{, ae, '$v \st ,2$ -{$ {0 .fr -, se uEs cru r(1ler1ue1sqns sPrspurrls rllr/t\ ctucpro3ru ur pcrncord cle qJtq^\ (l) pw :(ao,t(ht.t.to)-rur) (B)e'6'8 asnelJ ur lno lcs osorll -9t' aql 'lueueaJiv slql ol uorlBlal ur socrruis arnco:d :o slJBtluoJ olut rclua ,(luo (p) lcofor4 aq1 .ro tuourcarffy esuq3ind JJ^\od :(uotldruro) -lruv) @)a'6'g csnel] ur lno lrs spjEpuEls puB s/r\cl crlt ol uouelor ur ss,rrplucsudcr puu s1uafle 'seafoldure '$aJIUo slr Jo gB ol Surure:1 otunbcpe cprnord (c) qlylr acuerlduro:r c^onlru puu cloruord o1 pcu8rscp scrnpccord pue scrct;otl uruluteut (q) :(uorylnttoT-uuy) (E)Z'6'8 asn8l3 ur lno tas spJBpuels puB s/vrel eql :(a66t rcqucJao Ll uo stled ur pcr.tSrs) suo4cBsu8.u.
ssaursn8 leuortEujelul ul slurogJo :r1qnj u8rc.rog jo Aroqr.rg Sugequro3 uo uouuf,AuoJ crll puu trv scrtlcer4 gdnr:o3 uSra.rog sc1u15 palrun rql'0102 lcv ifuaqr:g tuopfury pelrun arll',na1 alqucrlddy oqt Surpnlour 'sJrqt, pur lrnpuoc ssaursnq Jo sprspuets p doJce ,{11euor1uu.ro1ur puu s^\al uorlduroc-rltm clqucr;dde qlrm c:uerlduoe ur sscursnq slr 1rnpuoJ (e) :11e qs ,{ueduro3 rq1 ; 6 lt '8002 Jo Zl'oN 1cy uorldu:o3-rtuv rapun $acuago apntJul leqs sult 'lqnop Jo cJucpro^D eql roJ 'pue pnu{Jp o1 ,(re.ndsuoa :o tdurc11r ,(uu go 1:sdsor ur ro slJ?
luclnpne{ Jo lcodsor ur '.

{:oquq:o uorldnuocao uorlua,rcrd aql ot SuuBlaJ cuoa'I BuarsJo /tru1 {ue raprrn sccucllo cqt .
;o /(ue Surllrturuoo sucaur ,,fr\i peflqlqoJd,, '(uor1druro3-11uy) 6 8 csnulJ srtll ul '(uotltltutoT-uuy ) t '6'8 slqt ut suorsrrrold cqt qlrm ,(lduroc ,{cq1 Jtpqaq sll uo 1cn sluo8r ro srotf,p.Jluof,qns 'sluellnsuo3 'srosl^pe $l aJcq^\ leql uncord ol sJno^Bopuo clqeuosBtr llu csn (I) pue lluqoq slr uo tou soc,(olduro 'sroliclp 's:Jacrfro puu slosuodg 'sJJploqalerls 'srao^\o slr aroq,r lutp arnco.td (t) :llErls rr (r) puu :ltv pallqlqo{ ,(ue qfinorqt {trroqlnv luturuc^oD lcrllo ,(uc:o lucuru:c,roC aqt uorJ lccfo:4 cqt ol Jo olcJaql polnlol lucucq:o uorluirlqo Jcqlo Jo ciclr,rrrd '1sa:c1ur 1qfirr ';e,ro:dde 'lursuoJ 'tluluol ,(ue .ro lueurnlog 1ca[o.r6 raqto ,{ue 'lueruaar8y srtllJo luJruclnroJd cqt pccnpur Jo pcurclqo lor.r surl ]l (q) :lcclo:4 aqt ol uouslcJ ur lrv pcllglrlo.rd Aue lrruuro:r 1ou llutls lr l?rp 'sluetusa:8e qrns tuo.r; 3ur11nsar s:la1leur ,(uu pua guaurocriy csr(lrJnd ra/^od aql:o guaurea:3y srql qlrt\ uollJtuuoo ur ro luourauSy csur.
{cJrld rc^rod cql :o luctuccr8y slqt jo trctqns Jql cJu rlcnlA\ sJJlleur orll .lo duc o1 lecdscr qlr,rrr (D) :1eq1 slueuanoc iuuduro3 aq1 t'6 !t uogldnr.ror-11uy (r'8 (c) (t) (ii) if the contractor or serv'ice provider agrees to contply with the provisions in this 8.9.2(a) (lrrt -Corruprion).
kecp books, accounts and rccords that propcrly, fairly and accuratcly record and report all transactions rvith respcct to the matters rvhich are the subject of this Agreemcnt or in corurection witlt this Agreement and any matters resulting thcrcfrom for a pcriod of at lcast tivc (5) ycars following the pcriod to which thcy rclate.

'fhe Govemment shall be entitlcd, having given reasonable notice.
to inspect any such document or where it is otherwise pennitted, to inspect such documents in accordance with thc Law of Sicra Leone; and and shall procure that its ofliccrs, dircctors, employees, advisors.
consultants, subcontmctors and agents shall irnmcdiately report to thc Govemment, where pcmrittcd by thc Larv of Sicrra Leonc, any suspected violations of thc Law of Sierra Lconc or conduot of any Prohibited Act in connection rvith any tnattcrs to rvhich this Agrcemcnt rclates (which includes acts or omissions which rnay affect (hc Colrlpany).
t{.e.1 'thc Parties agrcc that any contract, Consent, approval, right, interest, privilege or other obligation or bcne{it obtaincd or pmcurcd by the Conrpany making any false declaration, misrcprcscnting any facts or taking any action likely to dcfcat thc purpose of this Clause 8.9 shall, without prcjudicc to any other right and remedics available to the Government, be voidable and without legal effect at thc option of the Govemment provided that this provision shall not apply and no action shall be taken against such Cornpany for any actions of any of its ofliccrs.
dircctors, employees, advisors, consultants, subcontractors or agcnts, its pronrotcrs, Sharcholders, Spousors, or its subsidiaries.

which havc not been authoriscd by such Cornpany.

8.9..1 Thc Govemmcnt covenanls that: (a) (b) with respc',ct to any of thc matters which are the subjcct of this Agrcenrcnt or the Powcr Purchase Agrcemcnt or in connection with this Agreernent or the Power Purchasc Agrecmcnt and any rnattcrs rosulting fiom such agrecmcnts.
that ncithcr it nor any Govemment Authority shall conunit any Prohibiled nct in relation to the Project; it has not obtaincd or induccd thc procurcment of this Agrccmcnt, thc Powcr Purchasc Agreenrent or any othcr Project Documcnt or any contract, Consent, approval.
right, interest, privilegc or other obligation or benefit rclated thcreto or to thc Projcct frorn thc Cornpany, the Sharcholdcrs or thc Sponsoni through any Prohibited Acl 8.10 Acccss to the Sitc and the Staging Area The (iovcmmcnt shall (and shall procure that any Gor.emment Authority shall) cooperatc with thc Company to uritigate, to the grealest extent possible.
the irnpact of any event or ciroumstance rvhich hintlers or delays the ability of thc Company's onployees or Contractors to acccss the Site or Staging Arca.

- 47- @lu 0r} tv N4 i{r-m56tlt.1l ,pN .\t,1t t *990ri)l -rit - 01)t^-fs1*s;ta9l :sluctunJop lsuorlntrlsuot s1-lo.
(us Jo lr uo Surpurq suoueErlqo Jcrllo,(ue:o s:cp:o .ro s,tre1 {uu clulol^ lou 1pm tr (q lucurcu8y srrllJo iaunuu(Urcd puu uorln:cxl cqg ,*94 IJt ltl euruof, prm alo;rrrd slr salnlnsuo3 luturaa:iy srql (3) 0) :lueurralEV srrll Jcpun suoue8rlqo s1r uuogred ol flrpqe slr uo lJcJJc csrc^pu leucluul B r^u4 ol pclrcdxo cq dlqeuosear plnox qorq/t{ l!
ol uollslar ur cruld 3ur1u1 cJe s8ulpoocord alrl?4srulurpe ro uouullrqrp 'uoosSurl ou'alBC Suruirs eql eloJoq i(usd raqlo crll ot pasolcsrp se ;dcrxc ro ere/re 1ou sr ,(ueduo3 cqt rlJul.A Jo s8ulprcf,ord cued xc ueql roqlo (c) :tr lsurcSe alqecc.rogua pue Surpurq i(11e8a1 sr luaucar8y srqt (p) :JlEqeq str uo patnccxc,(1np usaq suq luaurac:i'y srtp (r) :os op ol suorlgsr.roqlne luuralur ,$ess:oJau llB paurulqo spq pue ll Jopun suorle8rlqo ut turclJrcd pue sq8u str cslcJcxc ol puu tucurocriv sull clnJcxc ol lcmod cql suq ll jo aceld slr Jo s^rel cql Jepun Surlsrxc ,{1pr;e,r pue peterod:ocur Alnp sr l} :uoueJodlocur (q) (e) :c1u6 3uru.3rg crll lD ss leql lucunJJoloD cql ol stue.lum pue slucsudc: fuuduro3 cq.1.
l z 6 salfuarrBAl puE suolluluesardoA,{urduro3 a6 'luerucalSv srql Jo suual aqt .llr,tr cf,uuprorce ur tr lsure8e alqucJloJua puu uo Surpurg,{11uic1 sr luaucoriy srtfl leql '(uolrrrliDy puD Sutu8rg uodn suotsr.rotd utopat.lb ss.rud.vpqf':ll I'l'Z csnel) ol lcalqns'aleq Suruirg sq1 1e su,(uedtuoS aqt o't stueus^\ pue stuasc.tdcr luautuc^o5 lll 'lre lero.roruuroo puu clunud str solnlrlsuoc tuarucor8y srql (r) i't'6 Puu :euoirl Brars Jo uorlnlusuoJ or{l Jo ll uo Surpurq suorlr8rlqo Jor{lo fue ro s:cp.ro ro s,re1 ,(ue qelot^ lou lll,r\ l!
luetueerty srql.lo oJuu[uoJJcd puu uoqncaxe cq1 (c) :+l?qaq slr uo polnoixe {lprlu^ mcq soq lucucar8y srql (p) ^q pus Ja,rod eql suq luoru{ue.,\oD aqlJoJlcqeq uo lucuraer8y snp Euruirs uosrad cqt :os op o1 fluoqlrc uo uortsu atrsrnbcr Jlu Aq pcsuoglnu Xlnp uscg srq tucutcu.3y srqlJo uonn$xc ,qt :luctuu.taloD cq;.1o trud cql :1ueurcs.6y sqt qtr^r cJu?p.locre ur suoqeErlqo s1r uuojlad pur slqEn s1r esrcnxo ot pue luouoar8y slql elncoxo o1 ftuoqlne puu ra,rnod lnl setl ll (.)
(q) (e) :c1r61 Suru8r5 cql lR se luql IuuduroJ cql ol slus,uu/r\ puu sluoso.td3J lucunucloD ILL t l'6 solluBrrB71\ puE suolluluosardca ;uauuroaoS SaIJ-NVUUY/t\ ONv SNOTJ.VJNOS'dUd'JU l6 6 de "\+4l -6t - 0 0t ^.ts--r-iit;9r 'clern3o?
puo crul sr u?qJ cJrucruls dtqs::au,,n6 oql (l) puB :luourerEv srql Jo Jo ,(trprlu^ erp :o lucurccrSy srrll rcpun suorre8rlqo s1 uuolcd ol Irlllqu sll uo tccJJc esrclpe luuoleur e cAEq ol palocdxc aq ,{1qeuo.-ea.r plnoo leql rouuetu {ue ur punoq sr 1r rprq^1 ,(q ro,(wd E sr lr qcrll/r\ o1 luaruo8ueue ro tucruacJ8e (ue lepun llne.lap ut lou sl lt ^lrllgBrJroJue (rl) # d$'n''*'t, {9- 11eqs (ltor tDxol) g alnpeqcsJo suorsrnold aqt sluolunf,oc auoJl u:cr5 Auu Jo suuol cql Jo A\E-l clqucrlddy qlr/r\ lurlsrsuorui sr (uolDxt.l) g clnprqrs ul rqtu(r ,(ue 1eq1 ltratxa elp aL'\uouDxDJ) 8 olnpaqcs repun suorlu8rlqo s1 q1r,rn ,(lduroo 11eqs ,(ue.1 qrel ';renard N0tIvxY.t.
0t Atr \$'''***' 4l -ts - '\,btlod tuatuo) lDJoT auo;rl ,.,-L1115') [ clnpoqcs ur lnolcs sluourclrnbcr lueluoc lucol cuoJ'I e::ars aqt q1m,(lduroc'ol sJolrp,quoJ s'll csnac ol srnoleapua olqcuosuoJ IIe csn llutls puu'lleqs,(uudruo3 trll'selurd eJucuq cLll Jo sluauralnbar tuaruancord cqt ol toalqn5 sorrnosJu uBcIloJ'l RJrals t'l I 'raIul.UO .1ql ro tuatutu3log aqt ,{q pcslnqrulaJ lou aJB tuqt sasuadxc talcod 3o lno l?uelsru l(ue Jncur ol Jo csn i(pado:d lunloclls]ul uo suorlorrlscr:o Surle4rapun ,(trlorlucpguoo due qruuq o1 i(uudruo3 cq1 c1u3r1qo lou llutls t'Z'l I asnel) srql lotll 'Jc^e^\oq 'poprno:d :rcTsUJO aql ot,{SolouqcctJo JrJsusJl aql ul tsrsse 'ssoulsnq $l Jo lonpuoJ aql urrlU/r\ alqBuos8ej lualxc aql o1 'lguqs (ueduroJ crlJ ['e lt 'soruuurBord Eururu!
qf,ns uo lucds slunoruu oql pue seruutafiord Eurule.tt qJns Jo uoltetuaualduu aql 'scruureJSo:d 8urum1 ac,{oldura s1 lrulop ur Surqucsep luourulalof) eqt ot uodc: lenuuu uE lrurqns llurls ,(uedruo3 arlJ i-z tl 'scsuadxc acuuucluruur pue iurlt'^rado ur popn;rur ssculsnq Jo lsoJ louuou E tq lll^r Sururul aa.

(oldruc rllns Jo lsoo eqf 'uorluJlsrururpr?


lcerluoo Sutpnlcur 'sJclleur c^rlBJ.l$ururpc pue lrrJruqrel uo qloq snooJ crlrl ol oulrl uro{ ltEqs scruuer8ord Surutul oq1 '3ururul lucurc8uueu lo1 pagrlcnb sac,(o1dua asoql :<r.

; lueuraSeuetu ur Surure:t pue 1:e[tu6 lql Jo aruBualurcru pue uor1r,:ado 'uorlsrutsuoo '8utuue1d cql ur posn slp:ls a(llJo r4cua ur Sururu:y 8urpn1:ur'arull ol curn tuo{ sanrure^r8o.rd Sururel ooAoldure 'ssrursnq Jo osrnoi luuuou eql ur 'lcrlpuo, lleqs ,(uudr"uo3 cq.1.
Ie tr JoJSUBJI iBolouqra.l puo 3u1u1u.rg Z'll d,o;ouqrcl iurs*urxetu 0,,,.,i::fi1,':lJi,::'i:Ij'::il"',::Hr'J::ITL::::ll,'j,t',X'":rlil'[']:: 'uouellplsul 'uortirutsuol 'uErscp cqt ur ouoel erclSJo suczrlro Sururerl;uql csruSoccr sctuud ctl.l.

suuauoe.1 B.rrols lo luour,{o;dru3 l'I I U3:|SNvtl.l.,\)0-IONll):{.1.

(ll\Y Jt(lNlv}li.

tt IZ.
E}IISSIO\REDUC'TIONPRO.IECl' l2.l Busincss Plan and Fc{sibility Report l2.l .l Within a rcasonatrle pcriod following thc PPA Effcctivc Datc: (a) the Govemment may elect to produce a business plan for the creation, marketing and sale of the CIIG Rcductions and tlre Company shall pmvide such a,ssistance and thc rclcvant rights as the Govemmcnt may rcasonably rcqucst to hclp the Govemrnent produce such a plan and/or proceed with the ER Projcct, without any requirernent to incur any rnaterial expense or cmploy any additional staff or consultants to do so and in the cvent that thc Govcnxncnt dccidcs to procccd with thc ER Projcct the Govemrnent shall: (i) (ii) bear all the costs associatcd with irnplenrenting: havc the rights relatcd tot arld (iii) own thc CHG Rcductions (and be cntitlcd to all fie rcvenucs rcccivcd from the salc of CliRs.
IlRs and/or VERs) in relation to, thc ER Project; and (b) if thc Covcmmcnt notifies the Cornpany that it docs not intend to producc such a business plan and if the Company considcrs that it is feasible for it to undertakc such rnarketing and sales and there is any reasonable expectatioo on its part of gcncrating adcquatc rcvcnue frorn such salcs, thc Company shall preparc and submit to the Govemment for its appmval such a busincss plan (such approval not to be unreasonably withhcld or delayed).
In thc event that the Covenrnrent does not providc to the Conrpany a rvrittcn disapproval ofthc busincss plan within sixty (60) days of its receipt of the business plan, the busincss plan will be deerned to have been approved.
t?.2 Conscnts 12.3 lf Clause 12.1. l(b) (Easire.rs Plan and f'eusihilit.v Report) appliesl l2.l.l il the ER Project is pursued under the CDM or an altemative regulatory schemc, the (lovernment shall have thc right to be added as an ER Project Participantg 12.1.2 thc Covcrnmcnt shall havc thc right to dccidc rvhcthcr to be added as a party to any Ernissiorr Reduction Purchase Agreement(s) creatcd as part of tlre ER Project; l2..r.l the Govemment shall have $e right to approvc any publicity eftbrts turdertaken in connection with thc ER Project, providcd such right is exercised on a timely basis; and 12.3.:l thc Govcrnmcnt and thc Company shall not unrcasonably withhold information or refiise acccss to any person or entity neccssary for the inrplementation of the ER Project, including bul not lirnitcd to physical access to the Plant.
l6lllS..1-51+ l{) l) - 52- gu @ llr ,n-nna"*,n, tw +w t?.4 Rcgular Reports 12.4.t If Clause 12.l.l(b) lBusiness Plan and Fcasibiliry Reporl) applies, once the ER Project has hcen rcgistcred or certificd under thc CDM, an altcmative rcgulatory regimc, or voluntary standards, and has commenced the generation or issuance ofCERs, ERs and/or VERs, the Company shall providc.

within thirty (30) days of the cnd of cach calcndar quarter, a writtcn statcment to the Govemmcnt on thc status of the ER Projc.ct.
Each such quartcrly rcport shall include: (a) an itcmiz-alion of all costs and the sources of such costs incurred by the Cornpany in relation to thc ER Projcct: (b) an iternization ofall revcnues and the sources ofsuch revenues recoived in relation to the ER Projcctl (c) an itemization calculating the profits and shares due and distributed or to be distributcd to both the Company and the Covemment; (d) detailed infonnation about the gencration ofany CERs, ERs and/or VERs in metric tons of C02e, including any Designatcd Opcrational Entity vcril'rcation or certifi cation rcport; and (e) detailed infonnation about lhe sale of any CERs, IlRs and,/or VERs, including the buye(s) and price and quarlity information.
cach such quartcrly rcporl that is to be providcd in January shall contain, in addition to the fbregoing, dctailed projcctions of future costs and revenucs expected to be incurred or earucd (as the case may be) in connection with the ER Project.

12.5 Costs lf Clause 12.

I .


I (b) (Eu.sirress Plan und F'easihili4' RtTorr) applies: l?.-s.l without prejudice to Clause 12.6.2, thc Company shall be responsible lor paying all costs associatcd with implcmcnting the HR Projcct (collcctively, thc "ER Project Costs"), including: (a) all coss incurred by the Company to rctain the GtlG Reduction pmject dcvelopmcnt consultant in accotdancc with Clausc ll.l and all brokers, rnarketers, Designated Opcrational Entities.
accountanls, engineers, legal counsel and other consultants retaine'd in connection with the ER Project; and (b) all fecs, taxss and cxpenscs incurrcd in conncction with thc ER Projcct; and 12.5.2 the Conrpany shall bear thc sole risk that no CERs, ERs an<Uor VERs rvill bc gcnerated or sold, in which case, it shall not be reimbursed for any costs it incurred associatcd with the liR Projcct.
12.6 Orvncrship; l\'larketing; Sharlng of Prolits If Clausc l2.l .l (b) (Brsnre.s.s Plan and Feasibilil.v Repon) applies: I 6.2-125 -l-5-l-Y I (1.0 - 5l- U,il ,r**r,r,$Lw 12.6.1 the Company shall own all GIIG Reductions generated by thc ER Proiect and hilve the cxclusir,e right to market and sell all GHG Reductions generatcd by the ER Project *ithout prior consultation or approval ofthc Govcrnmcnt ifsuch markcting and sales arc othcrwisc in accordancc with the tenns of tlris Olausc 12 (Euission Reduction Project)1 12.6.2 if and whcn any revenues are reccivcd frorn any sale ol CERs.
ERs and/or VERs.

the availablc revcnucs shall bc applicd first to rcimbursc thc Company for ER Projcct Cosls.

Any rernaining revenucs shall be distributed to lhe Parties as follows: (i) sixty pcr ccnt (6012rr) to lhe Govemment; and (ii) forty per cent (40%) to the Company; and 12.6.3 the distribution of profits undcr Clausc 12.6.2 shall bc madc quartcrly, within forty (40) tlays of the closc ofcach calendar quarter.

l6:l:5{-51-v 10.0 - 54- ?
lt, ?0{os68t4t$ t.l l3.l LIABILITY Liability for damage to property, death and personal injury l.1.l.l Thc Conrpany shall hold harmless and indemnify thc Ofllakcr Partics from and against all Losses suffered by a Cornpany Party to the exrent that: (a) (b) those Losses result from damage to propcny, death or personal injury; the damagc to property, death or pcrsonal injury referred to in Clause l3.l.l(a) {Liahilitl,.for clatnage to proper4,, dealh and personal injwl') results from either the breach of this Agreement by the Company or one or morc negligent acts or omissions ofa Company Party that is connectcd with the Project; and (c) thosc Losses arc not causcd by the negligcncc, misconduct or breach of contraot of any O{Iiaker Party or the failure of any Ofllaker Party to take reasonable steps to mitigatc such Losses.
t3.1.2 Thc Govcmtnent shall hold harmlcss and indcmnify thc Company Partics front and against all Losscs suffered by the Covemment or an Offtaker Party to the extent that: (a) (b) (c) those I-osses result lrom damage to propcrty, death or personal injury; thc damagc to propcny, dcath or personal injury refcncd to in Clause 13.1.2(a) results from either thc breach of this Agreement by the Covemrnent or one or more negligent acts or omissions of a Govemment Party or an Offtaker Partyl and those Losses are nol caused by the negligence.
misconduct or breach of contract of any Cornpany Party or the failure ofany Company Party to take rcasonable steps to nritigate such Losses.
13.1.3 Each Party shall notiS the othcr Party in writing of any event that may result in a Loss requiring rcimburscment under this Clause l3 (Liabili,)*) as soon as rcasonably practicablc after the first Party bccomes aware of such a clairn, but a failure by a Party to do so shall not rcduce thc reimbursing Party's obligations undcr this Clause l) (Liabilitv-'1, except to thc cxtcnt that thc roimburscd Party's dclay incrcases its Losscs.
13.f ..1 A reimbursing Party's liability under Clause l3.l.l(a) {l.iabiliry* .
[or ddmage k, propcrry,, eleath and persotrul injuryl or l3.l .2(a) with respect to any Loss consisting of a third party clairn shall arisc only upon: (a) (b) the scttlemcnt ofthe Loss by the reimbursed Party rvith tlre prior written consent of the reimbursing Partyl or the giving or makirg of a judgmcnt or award with respect to thc Loss by a court or tribunal of compctent jurisdiction which either cannot be appealed or where the time lirnit for lodging an appeal has expircd.
and the reimbursing Party shall reimbunie the other Party in rcspect of that Loss within thirty (30) days aftcr noticc from thc othcr Party that it has paid the claim pursuant t" )\*,*-/ scttlernent.

judgrnent or award.

Olv fi\i dtr A" - 55- ^ 13.1.5 Any l'ailure by the indernnifying Party to make the relevant paymcnrs pursuant lo this Clause l3.l to thc indcmnified pcrsons shall be decmcd ro be a material breach by thc indcrnnifying Party of this Agrccmcnt.
13.2 Defence of Claims .2.1 Upon acknowledging in writing its obligation to indemnily an indernnified Party to the cxtont requircd pursuart to this Clausc 13 (Liahilitfl, thc indcmnifying Party shall be entitled.

at its option (subject to Clause 13.2.3 (Defence ol Cluirts)), to assumc and conrrol thc tlefence of such claim.

action, suit or proceeding at its expense rvith counsel of its sclcction, subjsct to the prior rca.sonablc approval of thc indcrnnificd Party.
13.2.2 Unless and until thc indcnrnifuing Party acknowledges in writing its obligation to indemnify the indcrnnificd Party to thc cxtcnt rcquired pursuant to this Clause 13 (Liahilitv), and assumcs control of the dcfcnce of a claim, suit, action or procccding in accordance with Clause 13.1.4 (Liahilitl' lbr dunnge to propery', tleath utd personal riyrrl'), the indernnilled Party shall havc the right, but not thc obligation.

to contest.

defcnd and litigatc.

with counscl of thcir own sclcction.


any claim, action, suit or procceding by any third pany alleged or asserted against such Parry in respect of.

resulting hom, rclatcd to or arising out ofany rnalter lor which it is entitlcd to be iudemnificd hereunder, and the rcasonablc costs and cxpenscs thcrcofshall bc subjcct to thc indemnification obligations of the indernnifying Pafi hereundcr.
t3.2.3 Ncithcr thc indernnifying Parly nor the indemnified Party shall be cntitlcd to settle or conrpmmise any such claim, action, suit or proceeding without the prior consenl.

of the othcr; providcd, howcver.

that alicr agrceing in writing to indcmnify thc indcmnificd Party, the indenrnitying Party may, subject to Clause 13.2.4 (Lictbilitv.for danruge to propcnr*, dcalh and per,sonal injwt\, settle or cornpromise any clairn rvithout the approval of thc indcmnificd Party.
Exccpt whcrc such conscnt is unrcasonably withhcld.

if a Parry scttles or compromises any claim.

aclion.

suit or procecding in rcspect of rvhich it would olhenvise be cntitled to be indemnifietl by thc other Party, rvithout the prior consent of the othcr Party, thc othcr Party shall bc cxcused from any obligation to intlcmnity thc Part_y makin-q suclr scttlenrent or compromise in respect of such scttlement or compromisc.
l].t.4 Following the acklowledgement ofthc indernnification and thc assuntption ofthe dcfence by thc indcrnnifying Party pursuant to Clausc 13.1.4 (Liahililv for dunage to ?roperty, death and personal injury), thc indemnified I'arty shall have the right to employ its orvn counsel and sush counsel may participate in such action.
but the fecs and expenses ofsuch counscl shall bc at thc expense ofsuch indemnificd Party, when and as incurrcd, unless: (a) (b) (c) the ernployntent of counsel by such indcmnified Party has becn authorised in writing by the indernnifying Party: thc indernnified Pany shall have reasonably concludcd and spccifically notificd the indcnrnilying Party that there may be a contlict of interest betwcen the indenurilying Party and thc indemnified Party in the conduct ofthe defence ofsuch acrion: thc indernnifying Party shall not in faot havc cnrploycd indopendcnt counscl rcasonably salisfactory to the inderrtnified Pany to assume thc del'cncc of such action antl shall havc bcen so nolified by the indemnified Party; or Wy 16325-4-51-rl0 (l - 56- lu \tr $p (d) the indemnificd Party shall have reasonably concluded and spccitically notificd the indemnifying Party that thcre may be specific defences available to it which are diftbrent from or additional to thosc availablc to thc indcrnnilying Party or that such clairn, action, suit or proceeding involves or could have a matcrial adverse cffect upon the indemnificd Party bcyond the scopc of this Agrccment.
If Clause 13.2.4(b), (c) or (d) (D{bnca oJ'cluimsl shall bc applicablc, thcn counscl for thc indenrnilied Party shall havc the right to direct the dclbnce of such claim, action, suit or proceeding on bchalfofthe indemnified Party and the reasonablc fees and disburscrnents of such counscl shall constitutc rcimbursablc lcgal or othcr cxpcrrscs hercunder.
13.3 Subrogation Upon paymcnt of any indcrnnification by a I'any pursuant to Clausc 13.2 (De.fcnt'a o/'C /aurs), thc indenrnifying Party, without any further action, shall be subrogated to any and all claims that the indcmuificd Party may have relating thcrcto, and such indemnificd Party shall at the requcst and cxpensc of thc indcrnnifoing Party coopcratc with the indcmnifying Party and givc at the rcqucst and cxpcnse of the indenrnifying Party such furthcr assuranccs as are neccssary or advisable to cnable tlre iudcmnifying Parly vigorously to puruuc such claims.
- 57- II} ff\t # I4, FORCE IlIAJEURE 14.

I Relief Ilcithcr thc Company or the Govcmmcnl is prcvcntcd, hindcred, or dclayed in its pcrfonnancc of any ol its obligations pursuant to this n greenrcnt by reason ol a Force Majeure livcnt, or, in the casc of the Cornpany ouly, a Political Force Majcurc Event, (thc Party so preventcd.

hindcrcd or dclaycd bcing thc "1.


{ Affected Party"), thc lA Affcctcd Party shall bc rclicvctl from the pcrlomrance ofsuch obligations (other than any obligation to pay money as and rvhen due) during the period that its perfomlauce is advcncly affectcd and any performancc dcadline that the IA A ft'cctcd Parry is obligcd to mcct undcr this Agrcernent shall bc cxtendcd f'or a pcriod equal to thc period that the lA Atl'ccted Party's pcrfomrance is delayed by reason ofthc Force Majeure Evcnt.
l-1.I Iixtcnsionof'l'crm Thc Tenrr shall bc cxtcnded by a pcriod equal to the pcriod that the lA Affected Party is hindered, delayed or preventcd fiom pertbnning its obligations under this ngrcerlent as a result ofa Force Majeure Evcnt.
1.t.3 Notice of Forcc lfajcure l4..j.l 'fhe lA Atlbcted Party shall givc noticc kr thc otlrcr Party of thc rclcvlnt Forcc Majeurc Event as soon as practicable, but in any event not latcr than thc lalcr of forty-cight (48) hours alier the 1A A ffected Party becorlrcs aware of the occumence of the Force Majeure Evcnt(s) or six (6) hours aftcr thc lcsurnption of any rncans of providing such notice, and shall keep the olher Pany prornptly informcd of nraterial developments in such cirsumstances as thcy occur.
The notification shall include details of the Forcc Majcure Evcnt, including dctails of ius cflbct on thc obligations of thc IA Affcctcd Party hercundcr (to the cxtcnt that these havc been asccnained by the date oi such notitication) and any action taken or proposed to mitigate its effcct.
't'hc IA Affectcd I'arty shall continuc to takc any rcasonable steps rvithin its powcr to cornply with this Agreenrcnt and the [A Affected Party shall use all rcasonable ctTorts to rnitigatc the etTects of a Forcc Majcurc Event, and shall continuc to perfonn its obligations undcr tlris Agrcemcnt insolar as thcy are not so affccted , providcd.

hou'cvcr.

that neithcr Party shall be obligated to rcsolve any disagreement witlr third pcrsons, except under conditions acceptablc to it or pursuan!
to the final decision of any arbitral, judicial or statutory agcncics having juristliction to rcsolvc such disagrccmcnt.

14.4 Consultation As soon as practicable lbllorving rcceipt o[ the notice under Clause 14.3 (Notice oJ Force Iajcure\.

the relcvant Parties shall consult with each other in good lhith and use all reasonablc cndcavours to agrcc appropriate tsnns to mitigatc the effccts of this I'orcc Majeure Evcnt and facilitate thc continued perfomrance of this Agreement.
162325-4-5ll-r10.0 - 58- b K/ 0t "r***'.'

ftt Ns', l5 l5.l EARI,Y TERMINATION Termination prior to Financial Closing l5.l.l Prior to Financial Closing.

in the evcnt that: thc Intcrim Milestone is not achieved by the Interim Milestone Longstop Date; or (a) (b) Financial Closing is not achievcd by thc Financial Closing Longstop Datc, thcn, whcre the failure to achieve the relevant lntcrim Milestone by the lnterirn Milestone Longstop Date.
or to achieve Financial Closing by the Financial Closing Longstop Darc, is due to: (c) a brcach by the Govermnent or (]overnnrent Authority (as applicable) of its obligations under this Agreement or a Sierra Lcone Docunrent to which it is a party and which is cffcctivc in accordancc with its tcnns, thc Company may terminatc this Agrecmcnt pursuant to Clause 15.5 (Termination procedure) by issuing a Prcliminary Tcrmination Notice kr thc Govemment: (d) (e) a brcach by thc Courpany of its obligations undcr this Agrecment or a Sicrra Lconc Docunrent to rvhich it is a party and which is cffective in accordance with its terms, the Govemment rnay torminate this A$eemcnt pursuant to Clause 15.5 (Tarnrinalion procedure) by issuing a Prcliminary Tcrmination Noticc to the Conrpany: or an cvent or circumstance whiclr does not fhll within paragraph (c) or (d) of this Clausc I 5.
I .

l. thcn cithcr thc Govcmmcnt or the Company may tcrminale this Agreernent pursuant to Clause 15.5 (Termination procedut'e\ by issuing a Prcliminary Tenniuation Noticc.

15.2 Ternrination for Company Events of Default following Financial Closing Following Financial Closing, each of thc lbllowing evcnts slrall be an event of default by the Cornpany (cach, a "Company Event of Default") which, if not curcd within thc time permitted (if any).
shall give risc to the right of the Covcmmcnt lo terminate this Agreemcnt pursuant to Clausc 15.5 (Te rminotion procedure) by issuing a Preliminary Temrination Notice to the Company; provided, however.
that no such cvent shall becomc a Ctrmpany Evcnt of Default il it rcsults substantially from (i) iur Offiakcr Action or lnactionl (ii) a Govcmment Action or Inaction or a (jovcmnrent Evcnt of Default hcreundcr; (iii) a Forcc Majcure Event; or (iv) any combination thcreof: t5.2.1 thc occurrence o[ any rnaterial breach by thc Conpany of any covenant or agrcemcnt in this Agrecmcnt (other than Clausc 8.3 (Restriclion on Transfer of Shores) that is not rcrnedied widrin nincty (90) days of noticc from the Covemment to the Company idcntifying the breach in rcasonable detail and directing the Conrpany to rernedy the brcach: f5.2.2 thc Company is in breach of Clausc 8.3 (Resu'iction on TransJbr o/ Shares't and such breach is not rcmedied within sixty (60) days (or such longer period as is otherwise agreed bctween the Parties) after rcceipt by the Company of a notice of default from the Govcrnmcnt: 15.2.:i thc Cornpany is subject to an Insolvency livcnt; and 6 1623:J-4-i.l-v10.0 - 59- 70--105(,8 t4 W *\.
w 4,,*r.,r, fd' /"to9 ll -oe- 0.01^-tS1-)tfZ9l ,"ror.rup lggiruu ustlr ralrr?e eq pu l,qs qcrqm) luaurautv sltrl opu]uuel ol sasodo.rd ,(ge6 Surleuruucl orll .lJul^\ uo clup Jql pue uorleururrol ro3 spunorfi cql Irelcp clquuosl:cr ur 3ur,(jrcsds ,{1.ru4 .lerpo eqt eJrloli uotteuruuf,I ,{reututtlc:4 s raAIIip 11uqs tt (,ltttso1,1 lrltJuouu But,trolltl luauaa.dy asnltn4 ra,$od aq, lb uoltDultu.tdt o, onp uouDulru.tdJ-) y'91 ro 1&,.ro73 lD,Juou,,,l 8ut.wt11tl lpt{bq .lb gaitz ,,/.at.Mrdttog .tttf uotlnttmtL;t1\ C'S I '(5)/rsol.)
lD,ruout,:l 8ur,no11oJ- ilnqfae 1b st a.l.

':l ;iut duto.)

roJ' uottnaural, 7'91 (iurso1j lDlrunu!!

ot rolrd uoltDutut.trJ) l'Sl scsnul.)
qt!^r oJuEprorJs ur pue ot lucnsrnd luotuocr8y slql cleurrurcl ol scqsl^\ (,,iuud SullBuluuJ.L,, aqt) ,t1.ru4 u g1 l's sI olnparo:d uolluulrurol S'S I 'lucuroar5y cserlolnd Jo/[od aqtJo (uor1Duruua1 ,ipn71 8l asnsl3 rll.r crucp:olJe ur luaursar8y asuqf,Jnd rcl\od aql Jo uorluuruucl ,(lrBo eql uodn ,$ru6 rcr.flo orft ol cilrloN uouuunrucl fuuultur1o.r4 e Surnssr Ag (,t.ntp,t.to.td uotpunutal\ S'Sl osnolJ ol luuns:nd tueuauiy sql eleumuel o1 1q3u aqt e^uq lleqs,(ue6 qcua'3utso13 lurcucur.
:l 8ur.no11og tBlcuBulJ 3u;lro11o.

; ;uauraarBy osuqrrnd ra^rod e{lJo uolt8uluJal ol enp uolluuluJol }'sl 3u;so13 luaruacr8y toalor4 tuqt :apun suoquSllqo sll Jo ,{lFoqtnv luaululo^orJ lw^oloJ aqt Jo lusuttus^oo ctll qoBoJq c su r(gctl t st .
{1uoq1ny lucuuro^oo a lo luJt[ruc^oC arll qrrrl^\ o1 (luouaa:8y csorliJnd re^\od erli ro luou:ccr8y sqt uurll .rcqto) luaurncoq 1la[o:,1 {ue Jo trolluururJol aql s'f st ^q tuauruc,{oC lue^aler cql ,{q qnu3ap e :o3 lucmocrEy csuc'I pue'l ctn Jo uortuuluuot cql }'t st pua :luaulrajEv osua-I puB'l otll Japun ,(1uoq1ny sfep (96) flcuru 3o poued e ro3 Surnunuoc sr qrrql\ 1ucrr3 ,(1rpl1e,ru1 ueJo asuarnooo aql t't'sl :(gasr^V ro safiqs./o aoqsmhcy') e'8 esnulJ ur Surlupapun s.lucrrluc^oC aqlJo qcu3rq s Z t St :aJoul J0 :qJucrq cql Apcuor o1 Iucurua^o{) aql Suncc:rp pue lrelop clqeuo$eJ ur qrecJq aql SurfJrnropl lueumro^oD aqt ol,tuuduro3 aqt uroJ.l arpoujo s,(ep (06),Ocuru uulll^\ parparuar lou sr 1eq1 luauraarfy srqt u!
lucurccJ8e lo lueuciroc,{uc3o lucu.lruc..rorJ aqt [q qcecrq luucluur fuc3o cJu3un;]o orll l t'sl :l(LlJcql uoueulqruoc ,{uu (ir) ro :luc^3 crna[Br{ acroc u 1tr) :rcpuna:aq llnu.Icc.Io 1uo,rg ,(uedulo3 D (u) :(scrucd cqt ,(q pocrfiu cq .

(eur su lccfo:.
; cq't tllr/r\ uotlJauuos ur ,(uudruo3 aql Jo sJolsailiror Jorllo Iuc ro (srolseluoJ-qns rraqt pua) .ro1:re,r1uo3 hlTO crll '($olcDlluoJ-qns :roqt pue) rolcerluoJ Jd'J eql 's.rosuod5 eql 'srued ccuuur,l oqt ,(q uoqJeul ro uorlcu fuu Jo) uorlreul ro uortxv ,(uuduro,; u (1) urorl ,t1;uquulsqns stlnscr lr Jl llnBJc(l Jo tuc^A lucurua^o5 E arroocq luqs lue^a qons ou lnql 'Jalallotl 'popr,rord :lucurua^o[) aql 01 Jf,rloN uotluunurJl, fuuuturtlar4 e Surnssr Aq (arnparo,td uot1uqrula1) S'S I asn?t) ol lucn$nd lucurcor,Sy suo clEuruuat o1 Auedruo3 aq1 go lq8rr cqt ol .su o,rri l1uqs '(,(uu Jt) pcllrtu.rad currl aqt ult{lr.r\ pcJn, lou Jr 'q3rq^1 (,.ltnBJo( Jo fue^1 lu uura^oo., o 'rl3?a} luatuuc.\oD aqt i(q t1nr.
;ep Jo luela ue oq lteqs sluana iur,tro1lo.

; cql Jo rlruc 'Eurso1; lelrueulg 6urmo11og 3u1soJ3 lurruuur-q iu;,lto11o; flne1aq Jo slut,rg fuoruuJe^o:) JoJ uorfrurruJrl t- S I oq1 ,{q llnojap e 3o acuenh:suoc u se lusu.raar8y csBc'l puel aql .lo uorluuruuat prlB^ cqr } a'St 'luatuas:8v csea'l puB'l orll JJpun ,(unduro3 {$ xt .
*q -t9- 0 0I^-is'ts9zti9I :lSutsol) pDaDu,q ot ropd uottDulw,tdJl l'sl asnclJ ol lusns.lnd tucurcar8v sttll Jo uollDlltuuel {liec Jql uodn uollBsuaduo] 3ulsolJ lBlruculd-ord 0l II '(clqusrlddu su) rf,ud lucurdolc^a6 cql lo lor.rd eseqcrrrd crllJo lucuL(Ed cqt'uouctrurrl lnorllr^1 iurpnlcur 'pred os are soruod ooueuq eql Jo sr.ploqa&q5 cqt'{uudtuo3 etll ot lueruure^o3 oq} ,(q rapuna:cq c1qe,(ed spunj gB pus pcltr+lnJ c:e suorsr,lo:d 11e plun uorleldxc Jo uorluuru.uJt tlJns o^rlJns lpnls sJsnBlJ qrns ul ol pc:.
'r:tJcr luourcc.r8y srrp ol sclnpcqss crll pun scsnulC luclclf,J rcr;to ,(ue pue \stnaun ars,l4{) 8,1 '(&!mnuwl ttBtata,vtg fo .rattotr1) 21 '$atndsry Jb uounp''aY\ 9l '(tn()-tngl 11'91 '@o4osuadwo.T 3u1so13 ynunur 4-at4l 0l'gl'(uortttntdt.rtul ltuD r'Ltotttulla1l !
scsnslJ ur lno lis suoqefirlqo pue slq8r.r cql 'lucurccr8v srql ut ,{ruluoc cql ol Surq uu iurpuelsqlrmlou lcrll 'Ji^e^roq 'pcpr,rord lucueu8y srql ol lurnsnd uolluuruuil ro uorlurdxc qrns J^r,uns ,(lssa.rdxe lsql ssrlrlqorl ro suo[u8r1go puD uollBurt(ual :o uortprrdxc rlcns uodn csue ro ol roud csoru leql s3rlpqell ro suorgefrlqo ro; ldccxe JcpunJlJtl scltlpqurl .ro suorle8qqo JiqunJ ou c^pq lleqs serued eql 'luaura:u8v srql Jo uolleuruucl Jcrpeo :o uorlurrdxo cqt uodl 'uoueurtrual qons crnoo;d o1 se os ,(luetuud lucruue^oD aqt ,(q pate8rtsur sB^\ tua^o qJns lprlt alelsuourop uec {ueduo3 orlt Jr llnuJec Jo lua^A ue ro tua^a orncfel4 cuoJ lusrlrlod e 8urmo1;og (ao,pu,w.DJ ,Qlo1) 91 esnulJ srql ol luens:nd luctuccrSv sn$ cleuruucl ol str{8r: s1 csrJrcxe ol pJllnuc cq lou lletls lueurula^oD ct1l uolfuulrrrel uodl uopu33lqg 6'S I 1uc,r3 arna[u6 rrrod lutlfl]od ro lnp,Jog atnr;tqlleq 8 S I le clqEIrDAB oJB Jo ulanq pcpr,tord ele 1tql sclpeu rcqlo SutsrJrcxo urorj (1re4 qcns cpnycud lou saop 'urcreq pcpr,rord se luauraar8y strll clouruucl o1 ,{gu4 u 1o lq8rr otlt Jo osrJ:cxc eqJ '1r\31 sclprurcu roqto L sI 'sarued crrruurJ orfl ol \arnparord uoqounual) S'Sl esnsl.)
:cpun ,(ueduro; oql ol ua,,rr3 eq o1 pc:rnba: ssJltou IUB Jo ,{doc e Surnr8 lsrg lnoqtrl\ ,(ueduro3 e{} Jo tlneJep ,{uo .1o 11nsa.l u se luctuaariy srrg rl8untucl o] {aas lou ll8qs lueurua^oc aq1 '8urpurlsqlrmlou lueuae.rfiy srqt ur 3urq uy ItnBJrO s,.

{uBdruoJ Jo sollrEd oruauld ot arlloN 9'Sl '(uo!tDutuu,-tJ" uod2 uorloBrlqg) 6'gl csnell ol laafqns lccgs olurpauturr q1r,tr luaruaor8y stql Eutluuutucl (,,Or!loN uolfsulurroM,, aq, lueucerEv srql Eurluutuuel ,(ge.
; Jorllo orll ol c.rtou lcqury E Jc^tlcp cturl ,{ue p Xeut cctloN uoqpuluucJ fuuunulloJd orll srlt'pem, ueaq lou a^rq errloN rlorlsuluuel ,{reulurlar4 aqt ra^tlap pere^rlap tprll o1 A.;ru4 Surleuruuet oq1 Eurpquo slucna Jo tuole cql .poucl {patucX aqtJo puc aqtloueJl t.s.st ^wd 'ccrloN uoqsutuucl ,$eurturlc:4 cq1 .reirrlep o1 [pu.l Surleuruucl cLlt Eutl[]uc slualc Jo lualo oql Jo secuenbcsuoc aq1 Supu8rllur puu Eur,(paurc.r ol Alotl e qlt.r ua{Bt aq {uu sdcls leqm Suracr8e ol E qlr^r rltrsJ poo8 ul llnsuor lleqs soruud oql .polJad ,(pcucX cqt Euunq 'pouo4 aql clurlur ller{s cJnoN uortuulultcl {ruururrlcr3 V z.s.sl ^iall ^peucI '(errloli1 uorleuruual,$uuruqa6 aqlJo elep cql JauB s{Bp (001) pcJpunq auo upql etoul ou puu acuoN uousulurrol {:ourulrlartr 3qlJo olEp orJl ,4,,*,"*.
-{s fi 44ad) -29' '(uortour utt;r1 uo njsu tt.r1) I alnpcqls ur lno tos suual cql qtl/$ ecusproJ3e ur eJud asutlJJud 3ql [Ed ol luarutuJioD cqt errnbs.r Xeu (elqucrldde se) $eploqareqs aql ro AuBdruo3 aql 'lu3txua^og ctlt'(a.tnpnord uot1ourw.o1.\ S'gl csml3 o1 lwnsrnd crrloN uorleuuucJ Vl crlt go [:cnr;cp cgl 8ur^\ollql puu h.\od aqt .fb uorytutw.tal ot onp uottt un thJ) t'gl asnel) ol luuns:nd fued ]eqlla I t t 9l ro :(t?rnJbe .

{o stt/,,,rS uawurd og .to!


uououlrutal) t'S I osnutJ o1 luunsrnd fueduroJ ctlt Z't l'91 l(t u a w a a.t8 y a s o t1 t.ut, i(l1tto/bq Jo sXra,tg iuodwoj tot uottDutu.toJ) Z'S I csnelJ ol luensrnd tuctuurerroo oql l t l'S I :,(q lucwccriv srql Jo uoueuruual i(pea oqt uodl 1n6-Ing 1 1 '91 '(?urto13 ptxnur!
ot -tot.td uoltDrtur.l.2) tr aprpaqss q ,,rr s3ueproJlu ur ccu4 tuctudogc/rac aql ,(ud ol lucruujc-r\og cql e:rnbal feru ,(ueduro3 a\l'(alnpnoJd uot1outut.ttl) 9'S I isnolJ o1 luuns:nd crrloN uorluuruucM ul, Jo fuc^tltp aql Bur,,no11og 'tuauloelSv srql Jo snucl cqt qllir\ aJuepJof,Ju rn prrnrco seq uorlu3UrlDu leql pcpr,rord z0t'sl plue'.

(3u t so 1 j pt 1 ) u Dl !.1 ol,tolr d uotlutruual) , tlnpctlcs ql!/r\ ccurrpJo3cl?
ul slsoJ IoBB /ilelJ crll ,(ud o1 lucururcnog cq1 o:tnbcr ,(uut ,(uuduo,l crlt Jo/pue (8u,soD F)naDuU ot tol.td uoltnulta./rJ) t olnpaqrs Jo 7'1 qdu3e:ed qlr^\ couepror.B ur acu.1 tuaurdoye,rcll aql fud o1 1ca1a,{uru tuaurua^o3 arll I0t'sI strl,lrs0F0i ,$ Id Ah -t9 - sJ?lfEtu i(un Ino iulllJs pue etndsrp erltJo sJuEtsurn ls pus ctnlBu aql Sutqucsap luotuatels Jrrrq ?

pur?
luorlroor8v srrll Jo {doc e Sulsopuc '(,,uo;1ua11ddy,, cqt) ctndsrq lucu.nlrcJ arll ouruutlcp ol ucdxo ur luroddc ol VIJ'I artl o1 Suqum ur flddr dutu,(uu4 Surpuodsag cr{l Jo ,(uEd Eurlcrlrul crll rcr{lrc'oorED os lo/pup tcJur ol clquun cre (Uu4 Surpuodscs cq1 puu ,(1ru6 Suueurul cqt g1 'ucdxc cq1 eq ot uosrcd c lurodtlu puc uodn ccr8n o1 "^,(Ep (01) u3t Jo por:ad e urgtrm rllr?,J poof ur ssnosrp puu laour lyeqs {pu.1 SurpuodsoX cqt puu Kpu4 3ur1rr1ru1 cqt 'elqurdocce;ou sr uos:ad aqt teqt ,!rn4 Suuerlul atp ssgrlou:o puodsc.r 'clqeldccce sr ,{uu4 Suuerlrul cqt Xq pcsodo.rd uodxc crp o1 s1te.
; ,fi.re4 SurpuodsoS oqr 11 :aqtcqm (ue; 3ur1ur1u1 oql {Juou 'godxo rrc ol slndsrc lucruqcal rq Surllrurqns ccrlrxr uclllr^l q3ns sJnro3.r tr alep crllJo sXup (1) uc^os urqtl/i{ '11eqs ,(uc.
; Surpuodsol orl.t- tigl 'prdxc cql aq o1 sasodord 1r uos:cd ogl Surluurulou pue gcdxa ue ot olndsrg le.ruqf,e.L rql Sur ruqns sr tr leql Surlels acrlou ucllr/* n qtr/r\ (,,iUEd 8u;puodsaX,, crlt'csp3 raqtrc ur) atndsr6 lucruqceJ- ctlt ot saruud ro dged reqlo aqt apr,ro.td 11uqs pcdxc aqr ol (,,/qrBd 3u;1np;u1,, cql) clndsrc le uqccl cql Jo uorssluqns Surlurllur ,qrud cttl t'z 9l ',(ued due Jo roloerluo, Jo aa,(oldtua ';uc8e rauuog ?
lo Jolrartuoo Jo 'oa,toldura '1uc8e uu eq tou lleqs puu selulal cltrdsr6 leluqccJ r.ltns q3lq,tr ol Bare c(ll ur esruadxe c^uq lleqs podxo cq1 zzot '(tottDurrun4e Lr,rd.rg) 7 r1I csnn13 srql qlr/'r.r cJurpJoccu nr ucdxo uc,(q po,rloscr (11eug pue ot pcreJeJ cq l1uqs etndsrg futruqcal, qrns ueql (uotto nsuo) ,iq uounlosaAl I '91 asnelf, tllr/r\ of,uupJocJB ur clndsrc lu)ruq:tJl lurll onlosrl trl clqeun orc qndsrg luJruqccl e ol scrued aql leql luc^o Jql uI l i'91 uopeupurolcg;radxX i'91 atndsrq pcruqcal e tou sr lrJI @or,rr.ntqrY ,iq uorlnlosay andsro) e'91 asnBl) (q) t() lclndstg lerrur{rcl e \ $ lt (uoltDunrualaq yadtte) Z'9 t JsnelJ rllr^\ truupJorcu ul (e) :po^loscr aq o1 olndsrq oqt JtlcJ ot poltrluc cq lyuqs Xue.1 .
{uB uorll '8ur1u*r ur cc.r8u deur sargu.l aql sc pouad rcfuol qcns :o sfi:11 ssaursnfl (0e) &uc^!

urqlr/( clndslc luql ot soluud aql Jo sa^rlelucscrda.l pcsuoqtne cq ,(q pclttes aq louur.

clndsrq cqt lprll lutAa eql ul Il 'Aue4 rrqr;o;1uqeq uo alndsr6 cqljo luaurollles Surpurq e f,pnlouoJ puu aluqo?au ot ilrJoqlne sutl orl^r lenplArpur dtre suecur ,,a^unrcxS lorucs,, V 'clndsrq cql o1 fped qcuc jo 3leqcq uo clrlnJcxA Joluos auo ts?al l?
apnl:tur ll?qs qrq^\ 'e1ndsr6 aqt o1 ,{yrd qcua.Jo sanrleluasardar pesuoqlnt aql Suoure suorlerlo8au.,tq alndsrq aql rlllcs o1 quu; poo8 ur ldurctla 11eqs atndsrg cql ol scruud oql'cudsl6Jo iorloN EJo fucrrrlcp urorj si(e11 sscursng (0U) {luc^u urt{lr1\ c l gl '(,,r;nds1g go 4r11o11,,) alndstp ur (s)sonsst oql Eurtns cJrlou uaru^r e (q os op lyuqs lucruoer8y srql o1 ,(1:e.1 raqlo Auu o1 elndsrq u elrloop ol Surqsrm [ge4 {ue'alndsrq i(ue scryu4 aql uJcAucq scsue orcrlt tuql lui^c cql ul l't'9t rroltullnsuo:) dq uo1;nyrscy I '91 sS.t.odslq Jo Nol.Ln'tos3d 9l that the party rnaking thc Application wishcs ro bring to the attention of the LCIA for the purposes trf selccling the cxpert, with sirnultaneous copy to the other parties to the 'Icchnical Disputc.
Within scvcn (7) days of servicc ofthe Application, thc othcr partics to the Tcchnical Disputc shall scnd 1o the L(llA, rvith simultaneous copy to the Initiating Parry-, a reply to any mattcrs raiscd by the Initiating Party in the Application (the "Reply").

'Ihc LCIA shall appoint thc cxpcrt within a pcriod ofnot latcr than fourlecn (14) days from the date of such Application.
16.1.5 Thc htitiating Party shall within thirty (30) days of the appointrnent of the expert submit to both the cxpcn and the Rcsponding Party at thc addrcss in Clausc l8.l (Noticc.r) writtcn rnaterials sclring lofih: (a) a dcscription ofthe 1'cchnical Dispute; (b) a statcmcnt ofthc Initiating Party's position: and (c) copies ofdocuments supporting the Initiating Party's position.
10.2.6 Within thirty (30) days of the date that the lnitiating Party has subrnitted dre materials dcscribcd in Clause 16.2 (Etpert Dctermination\, thc Responding Party may submit to lhe cxpcn and thc lnitiating Party at thc addrcss in Clausc l8.l (ly'olrccs): (a) (b) a statemcnt ofthe Responding Party's position, and (c) copics ofany documents supporting thc Responding Partys position.
a description of the Technical Dispute: t6.2.1 ln addition to the material providc'd to dre expcrt by the Initiating Party, the expcrt shall considcr any such information submitted by the Rcsponding Party pursuant to Clause 16.2.6 and.

in thc expert's discretion, any additional information submitted by eithcr party to the Technical Dispute at a latcr date.
Any matcrials submitted by a party to the Tcchnical Dispute to the expert shall bc simultaneously subrnitted by such parry to all other parties to thc Technical Dispute.

t6.2.E Thc cxpcrt shall bc cntitlcd to appoint legal or othcr adviscrs if, in thc expcn's discrction, the expcrt considers it appropriatc to do so.

16.2.9 Subjcct to thc nlattsni addrcssed in this Clause 16.2, the expcrt shall be entitled to dctemrine thc proccdurc to be followcd in arriving at a detcrmination.
16.2.10 Tlrc F,xpert Dctermination process shall not bc an arbitration, and the expert will act as an expert not as an arbitrator.

16.2.1I Thc partics to the Tcchnical Disputc shall continue to perform their contractuaI obligations notwithstanding the existcnce ofthe Expert Dctennination process.
t6.2.tz As soon as reasonably practicable, and in any event flot later than ninety (90) days from the date of his or her appointment, thc expcrt shall issue his or her detcrmirration in writirrg to thc partics to the Tcchnical Disputc and the cxpcrt's dctcrmination shall contain a stalcment of reasons in such tbnn as the expert considers rcasonably appropriate' having rcgard lo tllc amount and complexity tllthc Technical Disputc- - 64- Gbv It?
,*uao,,,a,tPw 16.?.ll Unless: (a) otherwise agreed iu writing by the parties to the Technical Dispute; or (b) in thc cvent of tnanifcsl crror or fraud: the detennination by the expert shall be final and binding on the Parties.

t6.2.14 All cosls incurred by the experl, any legal or adviscrs cngaged by thc expert and thc LCIA shall be borne by the parties to the Technical Dispute in equal shares, unless thc expert in his or her discrction dccidcs otherwise.
Each party to the Technioal Dispute shall bear its own costs of participating in the expert detennination process, unless thc expert in his or her discrction decides othcrwise.

16.2.15 Thc placc of thc Expert Dctcnnination shall bc London United Kingdom.

16.2.16 The language ofthe [']xpert Detennination shall be English.

16.2.1?
16.2.1?

If the expcrt bcconrcs unwilling or incapable of acting or does not deliver the dctcrmination within the time renuired by Clause 16.2, then: (a) (b) thc parties to the Technical Dispute nray agree to discharge the expert and take steps to appoint a replacemcnt cxpcrt: and this Clausc 16.2 shall apply to thc rcplacerncnt expert as if hc or she wcre frrst appointed.
16.3 frispute Resolution by Arbitration 16.-1.t In the cvcnt that thc partics to any Non-Technical Dispute are unable to resolve such Non- Tc.chnical Disputc in accordance with Clause 16.l (Resolution h1- Consultution), therr any party to such a Non-Tcchnical Dispute rvill tre entitlcd to refer such Disputc to arbitration with this Clause 16.3 (Disputc Resolulion hy Arbitrution) by way of noticc in writing on all otlicr partics to such Dispute (the "Noticc of Arbitration") as follows: (a) lf cithcr: (i) ( ii) Sicrra Leone has ratified ths New York Convcntion by ths date on which the Notice of Arbitration is scrved; or Siema Lconc has not ratified the New York Convenlion but thc ICSID Ccntrc or the ICSID Tribunal havc dcclined jurisdiction under Clause 16.3.
I (b) below: thc parlies to such Non-Technical Dispulc shall rcfer and fiually resolve such Non- Tcchnical Disputc by arbitration pursuant to the Rulcs of thc London Court of International Arbitration (the LCIA Rules) in accordance rvith Clause 16.3.3 which Rulcs shall bc deemed incorporatcd by rcference into this Clause 16.3.1(a) save as cxprcssly amcndcd hcrcin; or - 65- 6" ?t/' lb fip ,oart*,osa .d, 1$ tl 4q -99 - 01)lA-fS-t-Sifi9l qf,ns ul 's.
[nU eql qll/t\ cruEp]o3ce ur lnoJ Vl)] cql dq Jluqoq :tcqt uo pclurodtlu cq lleqs rolerlqJu uI?
'cpls Jcqlo cql uo sctped cql '{q ulsoqc ;o1a:ltqre cql Jo ecrlou s Sutirtccer Jo s,(ep (0t) ,{utqt utqtt,n iolutllqJB uB ilutlltuou ol pu3 scrl.rutl luapuodsc: ro luapuodsa: cql Jo/pue satpud luuutelc lo luotululc cql JI (c) :unoC Vl)''t cqt i(q luctulutodde roJ Jolullqre auo alsutuou lleqs (flnltof sotuud luapuodsor ro) luapuodsc: cql pus roter1r(Us auo cluultuou llsqs ([nutof satged luetutela ro) tueutep aq1 (q) :c ql cq llptls srol"rrqle.+o Jcqulnu ctll (P) :1eq1 ccr8u JequnJ saruBd aql ueql selnu vI)'I cql 'repun palllcs ,(11uug pur 'ol luunstnd uollelllqlE ol pcxcJ cq;1eqs ctndsr6 lsluq:rtl-uoN cqr puu'scrlddu (u)l't'91 aslulJ leql luc^c otll ul tt'91 IloA ^{oN 'uolluA^Uol) otlt Jo It alor V Jo scsod:nd aql ro.1 ,,8urlrvt u!
luottlccJ8s., uu (q) oql Jo gZ.llruvJo scsod:nd aql:o3 slndsrp e ol scrued cqlgo ,,3ur;r.r,n ul lucs^uof,.r (E) puB :uotlue^uoJ clsJl eq lteqs (uo!to.o!q.tv tq uounlosay aydsq\ C'91 esnel3 srql ur uairr8 lucsuol aql t t'91 :roJ lutul rnbe.l eq1 f3sqes o1 p.rcprsrro3 'uo[uc,ruo3 (IlS:,1 orlt Jo (q) (Z)SZ cpruv go sasofund oql JoJ ,,clels 3ur1ce4uo,1 Jaqlous Jo leuolluu,, e sr fuudruo3 cqt puc :(rrBrluo3 crll ol sluarun8rs ,(us aslur o1 lou cc.r.,3n {lsscrdxe ctndsrq lucruqccl-uoN qons o1 scrgrd aql puu) uortuenuoJ CISJI aql Jo (l)SZ aloruy Jo scsodmd aql roJ '{luourlso^ur ua Jo 1no fpce.np Sursrru clndsrp ls8cl,, o eq ol pauecp cq 11eqs cprdsrq lscrurloaJ-uoN qcus ,(ue :uotluJAuoJ CIS)I crll Jo ( I )SZ ololuv Jo scsod.rnd cqt .roJ ..clsts SuncerluoJ e jo ,{cue?c Jo uorsr^rpgns tucntrtsuoJ,!
I sr fluor,llnv ,(1ddng pur uorlnqlJlsrc ,{lrcFtcelE cq1 (p) (r) (q) OISCI orll Jo SZ cpluv 3o scsod:nd cqt .loJ ,,tucurtscnur,, uB sr tuauau8y srql (B) :uorluoAuoJ alndsrq lecruqccl-uoN qons ot serued aqt 'sar;ddc (q)t'C'St asnelJ lurll tua^o erlt ul z'c-gt :teq1 ccr8u roquq 'urcrcq pcpuclur ,(lssudxa s?

cABs (q) I 'g'91 asnull srqt olur ecue.toJar Fq polurod:ocur poutocp cq lleqs qcrq/{Jo srln1 cqt pue ol luasuot (qs:aq serpe; aql qlq^\.lo uoqcrpsrrn[ cqt 'altuc3 OIS.
]I crll ]o saln1 uorlerlrqJv J.ll qlvrr csuDprof,3s ur uorlP,grqJu [q ctndsrq lerrurlccJ,-uoN cqt caloscr A;1uu1| pu!
loJrJ llcqs^ alndsrc lerruqxrl-uoN qcns o1 saryed eql'(uouuJ^uoJ clsJl aql) 596l qcrel{ g1 'uotEurqsultr le cuop 'salBls JaqloJo sleuorluN puc sclsls uac..rrloq sc1ndsr11 luculsoar.rl Jo luJruclllcs cql uo uorlucluoJ cql ol luun$nd uorlcrpsrrnf ldcrcu leunqrrl CISJI cql prle clprrl) CIS:fl aqt pue pclo,{ur st uouultlq.tu eql qcul^\ uo clep cqt,(q uorlue^uoJ IroA crll paulp.l tou sBq cuoJ.l ExrrsJl (C) ^\3N (d) (e) (f) circumstances, any existing norninalion or conlirmation of the arbitrator chosen by the parties on the othcr side of the proposed arbitration shall be unaffected, and the rcmaining arbitrator(s) shall bc appointed in accordance with the LCIA Rulcs; lf the trvo pany nominated arbitrators tail to agee upon a third arbitrator within thirty (30) days of the nomination of the sr-.cond arbitrator, the third arbitrator shall hc appointcd by the LCIA Court at thc writtcn requcst of either party to thc Non- -fechnical Dispute; The scat or legal place of the arbitration sltall be London, United Kingdorn.
The languagc of thc arbilration procccdings shall be English; By agreeing to arbitration in accordancc with this Clause 16.3.4, the parties to any such Non--lechnical Dispute do not intend to deprive any competent court of its jurisdiction to issuc a prc-arbitral injunction, prc-arbitral attachment or othcr ordcr in aid of the arbitration proceedings, or thc recognition and,/or enforccrnent of any award and./or to enforce the obligations of the other Parties or au arbitral award nradc pursuant to arbitration procc'cdings broughl undcr this Agrccmcnt; and (S) Tlre award of the arbitral tribunal shall be final and binding on the parties to such Non-Technical Dispute lronr the date it is made.
The partics to such Non- 'l'echnical Disputc undertakc to carry out any arvard immediately and without any delayl and wtivc irrcvocably thcir right to any fbnn of appcal or rcvicw of thc award by any state court of othcr judicial authority, insofar as such rvair,er nray be validly matle.

Judgcment on the award of the arbitral tribunal may be entercd and cnlbrccd by any court of compctent jurisdiction.
16..+ Consolidation t6.-l.t For the purposes of this Clause 16.4 (Consolidatioa), the following terms shall have the followiug rneanings givcn to thcnr below: "Existing Dispute" mcans any Disputc or a Rclatcd Agrecment D'ispute in rcspcct of which a Request tbr Arbitration has alrcady been filcd before a Request for Arbitration is tiled in relation to ir lnter Disputc.
irRelated Agreement Dispute" mcans any dispute, claim or tliffcrcnce inclutling any qur,'stion regarding its existcncc, validity, interpretation or tennination arising out of or in connection with a Related Agreement and any dispute rclating to any non-contractual obligations arising out ofor in connection with lhal Relatcd Agreement.

"Related Agreement" mcans each of thc Sicrra Lconc Documents othcr than this Agrccrncnt.
"Later Dispute" means any Dispute or a Related Agrecment Dispute in rcspcct of which a Requcst for Arbitration is hlcd aftcr a Rcqucst for Arbitration has becn filcd in rcspcct of an Iixisting Dispute.

"Consolidation Order" rueans an order by an arbitral tribunal that an Existing Dispute and a Latcr Disputc (or Latcr Disputcs) bc resolvcd in thc samc sct of arbitration proceedings.
l62ll5-4-53-r l0-0 - 67- /.o.41 / I /v \-,/ It, fr\" 7o"urot,ofu6c l6..l.l [n rclation to any arbitration proceedings under this Agreement (rvhether under the ICSID Convention or the LCIA Rulcs).

any Party that is a party to both an Existing Dispute and a Latcr Disputc (or Latcr Disputcs) rnay apply to thc arbitral tribunal appointed in the Existing Dispute lor a Consolidation Order in rclalion to any Latcr Dispute(s).
provided that such application is nrade rvithin sixty (60) days ol thc Request for Arbitration in rcspect of such Latcr Disputc(s) is filed with lCSll) or thc LCIA.

That party rnust also scnd such applicatiorr to all parlics to both tlrc Existing Disputc and the Latcr Disputc(s).

16.4.1 Thc arbitral tribunal appointed in relation to the Existing Dispute may.
having rcgard to the stage of the procce{ings arising out of thc L:xisting Disputc, and if it considers that (a) thcrc arc issues of fact or law common to both the [lxisting Dispute and any Later Dispute(s) such 0rat consolidation of both sets of proceedings is in the intercsts ofjusticc and clficicncy and (b) such consolidation would bc just and equitablc and no Party would be scriously prejudiced as a result ofany such consolidation (whether by reason ol'undue dolay or otherwisc), make a Consolidation Order on hearing such application.
16.4.4 ll thc arbitral tribunal in thc Existing Dispute makcs a Consolidation Ordcr, ir will immediately, to the exclusion of other arbitral tribunals, have jurisdiction to also resolve finally the l-ater Dispute(s).

In the evcnt of different mlings on the question of consolidation by thc arbitral tribunal in the Existing Dispute and the Latcr Disputc(s), thc nrling of thc arbitral tribunal in the Existing Dispute shall prevail.

Thc Parties to this Agreemcnt agrce that they rvill consent.
and not objcct, to any such Consolidation Ordcr and that thcy will be bound by any such Consolidation Ordcr and any subscqucnt ordcrs and awards issued in such circurnstancas (even if they subsequently choose not to participatc in the proceedings).

l(,.4.5 Noticc of thc Consolidation Order must be given to any arbitrators already appointed in rclation to the Latcr Dispute(s) and thc appointing authority in such Later Dispute(s).
Any appoiutment of an arbitrator in relation to thc Later Dispute(s) beforc the date ol'the Consolidation Ordcr will tenninate irnrnediately and the arbitrator(s) rvill be dccmed to be discharged from his / her dutics.
This tcrmination is without prejudice to the validity of any act donc or order madc by that arbitrator(s) or by any court in support of that arbitration bclore lhat arbitrator's appointrnent is tcrminatedl his or hcr entitlcmcnt to bc paid propel f'ses and disburscments; and the datc rvhen any claim or defence rvas raised for the purposc ofapplying any Iimitation bar or any similar rule or provision.
16.5 Confidcntialitl In relation to any arbitration proceedings under this Agreemott (whether urrder the ICSID Convention or thc LCIA Rules), the Parties undcrtake to kcq) confidcntial all awards and orders in any arbitration, together with all materials in the proceedings created for the purpose of the arbitration and all other documents produced by another party in the proceedings not otherwise in thc public domain savc and to thc cxtcnt that disclosurc may be rcquired ofa party by legal duty, to protect or pursue a legal right or to enforce or challenge an award in bona fide legal proceedirrgs before a state court or otherjudicial authority.
r 6:325-l-Jl-v I0.o - 68- bev/ pt, ro-$sr,tr'rr \ft\, -\n{,rD- 17.

\,t,\tYIiR ot sovuREI(;N IilII,IU\t'tY 17.| \Vaivcr by thc GoYcrnmcnt The Govcrnment unconditionally ard irrevocably agrecs lhat the execution, delivery and pcrfonnanco by it of this Agreemcnt constitutcs a privatc and commcrcial act.
In addition, the Govcmrncnt uncondilionally and ircvocably: t7.l.t agrees that should any procccdings (including any arbitration proceedings) bc brought against it (or ony Govemnrcnt Autlroriry) or its asscts (or the assets of auy Government Authority) in any jurisdiction in relation to this Agreemcnt or any transaction contenrplatcd by this Agreemenl.
no imnruniry from such proccedings shall be claimed by or on bchalf of itself (or such Govcmmcot Authority) or with respect to its assets (other than the Protcctcd Asscts); t7.1.2 waives any right of immunity which it (or any Covemment Authority) or any of its (or any Covenlment Authority's) a-ssels (other than the Protccted Assets) now has or may acquire in thc future whether charactcriscd as sovereign immunity or otherwise in anyjurisdiction in conne'ction with any such procecdings including, without limitation, immunity fiom service of process, immunity frorn jurisdiction or judgment of any court ol tribunal and irnmunity from execution of a judgment: 17.1..1 waivcs any rcquiremcnt under thc Statc Procccdings Act, 2000 for a Party to givc prior noticc belore cornmencing proccedings against the Govcmmcnt (or any Government Authoriry); and 17.1.4 conscnts gcncrally in rcspect of thc cnforccrnent of any judgcmcnt or arbitral award againsl it (or any Govemn:cnt Authority) in any such procccdings in anyjurisdiction to the giving of any rclief or the issue of any proccss in connection with such procecdings (including thc rnaking, enforccurcnt or cxccution against or in rcspcct rrf any assets whatsoever (othcr than thc Protectcd Assets) inespectivc ol'its usc or intended use).
17.7 Waiver by the Oornpany Thc Corlpany hereby irrevocably rvaivcs any and all rights it may havc to enforcc any judgernent or clairn against thc Protccted Assets with rcspcct lo any claim against thc Govcrnmcnt or any Governmcnt Authority or the Offlaker under this ngrcemcnt or any transaction contemplatcd by this Agreement.

162125-4-51-vl0.o - 69- G* lt?

\k\' 7Mo56t tat v.,rw fi',*rru-.


\h\ tt 4q -t)L' rc6s 6s9r 0z(0) rr+ :auoqdalcl uroptur; pcltul-y N:IS fl./[ 'uopuo-I lccrls seFeq] 8, pelltul.I srosl^pv alnof uequu-l Icnls(l uloa l lsir.i;irlu-q(iul ur r(I :o1 (doo n q1r,q :ullv : IrPrrr:l t€2299 9L ZtZ+ :cuoqdo;e1 Ju)el ?xars'tr^rolacl:I 1cas5 oo1:o1c11 3rg gg.

sJeulud d, uJqurul ucgurB'l Iculed :rmtdmofsli (rulamag tucu?uuad ctll :ullv :allurrsseJ :euoqdalcj.

auoc'I erJcrs u^\olccJ.


{ toorts \oolg :cddn p2 dEraug jo ,ft1srur141 :lucuruc^oo 0ql :(saq:e6 raqlo ctll ol i(Jqou Jult ol cu.rrl urory feur,(pe6 qocc se ssirppc 'suoucd qcns ro) ssuppe Eur,no11o; aql ol luas pue suos:ed 8ur,tro11o.
; eql Jo uorluolla aqt loJ pcssa+pe (r) :osliireqlo sepr^ord luatueafiy slql ssaFn sauEd eqlJo llu ol tuas (q) :cq 11eqs (gu4 B ol suorlnrtrmuuoo Jeqlo ro sJllou llv t l'liI :iullu^r ur (u) ser!loN s0()sNY'r'ItJsrhr I'III '8I ds ,(\ ,\ t n 4€) -tt - I luql uorletucscrdcr {ue ol lccdso: q1t,t r(pu6 taqlo fue o1 ,(1t1tqer1 ou a^sq lleqs {ue1 y rr:tt 'lucurecJtv cssrlxjnd rl^\od cr.ll Jo luctusclSv sltll ul tno lcs IlssJdxJ lotl 'luaurcc.rEV csPrlcrnd Ja./r\od orll Jo luculoeJflV slql ur lno 1cs ,(lsserdxc csorlt usql Jctllo uotlolucsarde.r ,{uc uodn parla.r tou:t^Er.l i(cqr lucurcariy srqt otul Suucluc ur'leql c8pel^\oulJe ssluud ctlJ.
i'ttt 'tucuretrrv snll ,(q ptpcsrrdns cre suoDelucssrda: pu?
slueulrurtuo, 'sluatuoer8c 'suorlerloEcu 'slesodo.td 's8utpuelsrcpun uclllrlr Jo lulo snor,rcrd llu pua rcllrrur tcclgns 9t ol tcodsu qll\ s3ruud Jql ucJ,trlcg lucurccr6e crluc aql salnlrlsuof, puu Surpuelsrcpun clrluc cql slucscrdar 'luatuaa:fiy aseq nd re/\rod atll ql,r reqtaSol 'luor.uc Sv srql t8rll st(u$uor seluBd aql Jo rlcES t't,tl 'suual slr 3o ,{uc jo luoueq ctp Aolira :o ce.ro.1uo o1 6661 lrv galuD<t prltt.t../b sl{,11y) slcurluoJ crll ropun tq8rr ou suq lucurocl8y srql ol ,!
:ud e lou sr ogm uos::ad n puu luau:lcrBy srqt ot ,{ue4 n lou uosJad Xuu uo uorlce :o lrns Jo trpu ,{uu raluoo :o 'o1 ,(trlrqur1 ,(ur: :o 'o1 crua.toJoJ qll,tr o:ec Jo plepusls 'ol {lnp {uB aleaJJ ol peulsuoc eq llutls lucruccl8y srql ur Surqlou puE scruBd oql .+o lucucq sqt rog ,{1olos pcpuclul sr luouc.l8v s^nll ;unuaeriy e-r;|ug f.tl l sitllrud prltll ol\ t'lt I 'so1e,11 puu puelEuS Jo s.rhul cql qlr,r\ acucprocJB rn parutsuot pun Aq pcuono8 aq lluqs (surelc Jo salndsrp lentoe.rluor-uou burpnllur) uolluuuoJ Jo l'|leur lco[qns $r Jo lr qlr,t\ uorlotuuoa ur Jo Jo 1no Sursuu urrc13 :o a1ndsr11 ,(uu pue tuctuaor,Sy srql .$B-I Jo aJloqJ Z'8I 'luouncop lerclyo laqto ro &o1n1a1s 'luuotlnlrlsuo, u sl luauncop leql ssclun lucunJop luur8r.ro cq] ro,to ltuaud 11uqs uorl?lsuul qsrliul qcqm'clu.rncre sB JJpuas aqt fq pagluac 'uoqaysue,rl qsr13u3 leuclutu {uy uu {q peruodruocce aq tsnu'qsrlEug ur louJt 'arrlou B Bulfuuduoor€ 'qsr18ug ur aq lsnu tucurcJJSy srql qtrm uollrcuuoc ur uear8 ocr1ou.,(uy .
(sar!/,N\ l'l'81 asnBlJ rrr ol porJa.Icr sllelep lucrmc tsBI rql ot luas Sureq ro11c s(ep (Z) o,rq pa^lcaoJ uocq c^eq ol peurccp cq lluqs sJollou 'rcuuutu ,(1ctur1 s ul scrrtou Jo au^Jcs roJ spslap qr o1 a8uuqc BJo scruBd Jcqto eql ,(.11ou tou soop {pe1 e g; '(s ltoN) l'l'81 esnulJ u!
ot pruaJar ssarpps tucun, oqllu A:a,rt1cp uo'ort,uas rcunoc pcsru.9occr .,(1;euoneurelur .ro lsod pc:elsricJ Aq luas Jo pueq {g po:enrlepgr (a) (p) (r) (q) csnel) ur ot pcrraJ3l ssrlpps luaunl aql w tdlar uo 'tsod ,teurpro ,{q 1ucs.p (u) Jo :(.1'rJrr(),,\ ) l' I '8 I :,{uu.1 u,(q pa^rccJJ uarq c^Er[ ot paruoap cq llurls cJllou V z t l urqin.rn; .nc.lprry : uuv 18.5 Currcncy and sct olT All arnounts and paynents due under this Agreemcnt (including thc payment ofa Purchasc Price or thc Dcvclopmcnt Pricc) shall bc made in Dollars and shall bc paid in full witlrout any sct-off.
countcrclaim, deduction or withholding (otho than any dcduction or withholding of tax as requircd by larv).

lll.6 l'urther r\ssu rnnces l'hc Parlics shall do all fur'thcr acts and cxccute and dclivcr all further documcnLs as rnay bc reasouably requircd to pertbnr: and carry out this Agrecment.

18.7 Amendnrcnts To the extcnt that no other fonr is rcquired by applicable law, an amendment to this Agreement shall rrot be effective unlcss it is in writing and signed by all of the Parties.
18.8 Expcnses Except as othcrwise provided in this Agrecment, each Party shall pay its own costs and expcnses ol executing and performing this Agrcement.
llt.9 Assignnrent and \ovation flr.9.l Subjcct to Clausc 1U.9.2 (lssignnrcnt ond Novotion'), no Party shall assign or otherwise tftuslcr i1s rights or obligations under this Agrecment; providcd that, notwithstanding any othcr provision of this Aglccmcnt, thc Company may grant thc F'inancc Partics ccrtain rights hereundcr in accordance with Clausc 3.7 (Sccuritv Pacfroge) of this Agreement.

Itt.9.2 The Company may, prior to Financial Closing.
novate this Agrcenrcnt to another cornpany cstablishcd under thc laws of Sicrra Lconc and cstablished for tlrc solc purposc ol dcveloping thc Prqject (and which company holds or will hold the Consents neccssary lo undertakc the Pruiect) provided it has obtaincd the (iovemrnent's prior written conscnt (such conscnt not to bc unrcasonably withhcld or dclayccl).
I8.9.3 Any purpclrtcd assignmcnt or othcr transfcr by a Party of ils rights or obligations undcr this Agrecment drat does not comply with this Clause shall be null, void and of no (brce or el'fcct to the nraxlmum cxtent permiltcd by law.

lll.

l0 Waivers tlt.l0.t A Party may waive its rights undcr this Agreement at any tinre but such a waivcr shall, to thc cxtent pcmrittcd by law.

only bc cffectivc if it is given in writing.


Itt-10.2 A failurc or dclay by a Pa(y to rcquirc pcrformance by anodtcr Party of any obligation under this Agreenrent shall not, to the extent permitted by law, affect the first Party's right to require perfonnance unless a waivcr has been given in accordance with Clause l8.l0.l (lfaivers).
t8.t0.3 A waiver undcr Clausc l8.lO.l (llhiversl shall be limited to the matters cxpressly set out in writing and shall not be construed as a waiver ofthe same right on aly futurc occasion.

Ia,ll:5-4"j.1-vl0.lr - 72- UD4 frt> \h{- ro-rnscrrarg[L r |lrr9!0r-01 .

() nqv'/ 1s ,T' -t L' 01)I^-tS-t-tZti9| su (peiplap Jo plcqqlr^\ f;qeuosea:un oq ol torr luno:dde qons) sarpu4.taqlo oqtJo luasuoc uau!

:,n :oud eql lnoqlr^l tueutaa:3v snn ol EurlcleJ allsgcr\ ?
uo uoqsullo.lul lo qualun3op .,{uu qsrlqnd:o luculcJunouur: crlqnd:cqto,{ut olou.r'cslrclar ssc.td,(ua anssl llutls.
(uu,l oN t'tt ltt rouueu Jellucplluoc-uou e ur cJlnos rcqtow ruo{ rfuud u i(q pcJrnbJo rctBl (lll) 'uoge8rlqo ,(1r1ellurpuuof, eJo qJeerq ur uetll asr^ucr.lto ureurop rrlqnd cql otur cruo, i(puanbosqns Jo uluurop orlqnd cqt ur ,{puo:1u (ll) :,(yu4 Sur,uaoer atll-1o tlne1 ou q8norqt :uollpr.ruoJur ro sluaurnoop aq1 Sur,rlccu f1re6 aqt ot u,nou1 fpnarlu (t) :oJc/r\ tlllq^l uolleuuoJul Jo slueuncopJo (q) .to :(.ir1:trylnd pmt ,ittpt,urlrlito,)) I '01 'g I asnul) slll ol lurlr^tnbo suotleffrlqo .4llertuapguoc ,(q punoq aq ol solutlJpun oq^l pue uotluruqlur qJns olrrrrJ ol spJou Xlqeuosecr qcrq,tr ,tpe.1 u .
;o aturlgja .,(uc ot (l^) lo :(.tit nnd pu,t ,Qt1nrytap1fito.1\ l'0 l'g I esnutJ srqt ot luopr,\rrrbc suorla8rlqo ,Qrluqucpguoc ,{q punoq cq ot c{nuapun oq^1 pue sarlnp ncrlt 111.4.\ uouJeuuoJ rrr uonultuolur Jo slucurnf,op qons arrnbcr ,(lquuosuo.r oq^\ (^r)(s)Z'll'gl pue (l!lXE)Z'll'8t sesnplJ ur ol p.ura.tal suos:cd cql .
;o (ue :o ,{uu4 u;o sJotaurluoJqns Jo srolceluol 's.tosrlpll ol (,\ ) :{,tg4pnd pun i1!tD!,uap!l/uo't) ['01 '8 t csnel) srql ol lucls^rnba suorsr8rlqo &llenuopguoc rq punoq eq ol aluucpun qcrqa pue [ue4 Eursolcsrp cql ur cluts ,{ltnbc ue errnbcu o1 pcl,rur Surcq Jo Sursodord suosrod o1 (^l) l(,titctnnd pun tt!tD!,uaplluo)\ I'0t'lllasn?ll srql o1 1uoln, nb; suorrairlqo r(l1et1uapguoc ,(q punoq oq ol oleucpun qrlq.t\ pue r(gu4 Eursolcsrp cqt o1 Sutcueug cprlo:d o1 patr,rur Suraq ro Sursodo:d ro Surpurord suos:ctl ot (!
!l) :o8uutloxo 1co1s,(ue1o sa1ru aql Jo solellUJp s1r ro i(yo4 qens ra,ro uoqcrpsunl Eur,ruq :o1z1nEcr to {poq lulusuru:a,ro3 ,{ue ',re1 alqurrlddu ,(ue 1o sluctucrrnbcr crp Aq .ro 1uctuccl..3v slrll JJpun uotleuluucle(l gadxg 'ssacord cnrleJlsrulupe Jo l?Jllq.rc 'lurorpnf :(uu rlU,{r uotlccuuo, ur :(pcr8lap ro plcqqlr,n,(lqeuosucnm cq ol lou luosuoJ qsns) saruud Jorllo sqt Jo luasuol uagu,tr :oud iql (lil,n ( !l) (r) :epEur (c) :arnsolcsrp fuu ot Fldde tou yuqs (,itr:nlqntl pun ,0t 1o4uap!uo,)) t'I I'gl csnclJ z ll'8| 'luculccr8y srql qlr/tr uorlrcuuoc ur suosrcd csorll-lo Iup {q l!
ot pcpr^ord sJotoBrluoo pw sluctlnsuoJ 'srlellrlls .scrucd rcrllo cql puo sJrued rcrlto or{l lrclo:4 cqt fiuru-::r:luor uorlpuuoJul pue slucurnrop Ilc Jeleoslurl \ uos:ad raqto ,{urz uro.r3 uorssmro .to 1le Arru ,(q asrm.raqlo.ro aruo anp eslJJaxe ol o:ngre3.

{q lou puu orurpuuoc lculs ur plorl sJolcu.rluoJ puB 's3lerluJu 'sJJploq eqs 'sluellnsuo3 'scc,(oldtuc 'srJ3!
]ro slr teqt e:ncord lluqs puz ptoq llurls (pe.1 qona '(i11t11qnd pun i1!tDlqapllito:)) Z'l l'81 csnul) ur pepr,ro:d su 1dorx3 I tI riI ,{;;c;lqnd puu I1;p;lurpguoJ I l'li t to the contcnts and manner of prssentation and publication of such press relcase, announcemcnt or publication, unless required by applicable law or the rulcs of any sttrck cxchangc or rcquircd in thc coursc ofanyjudicial, administrative or arbiral proccedings.
I8.l2 Counterparts Thc Partics Inay exccute this Agreement in counterparts, lvhich shall constitute one instrument and each of which shall be dccmcd to bc an original.

18.13 Prrtial invalidity lll.l3.l If any provision or part-provision of this Agrccment is or bccomcs invalid, illegal or unentbrceable, it shall be decrncd modified to the minirnum extent necessary to make it valid, lcgal and enlbrccable.

llr.ll.?
llr.ll.?

lf rnodification undcr Cllause l8.l3.l (Portial invalidity\ is not possiblc, the relcvant provision or part-provision shall bc dcentcd dclctcd.

t8.l3.l Any nrodilication to or dcletion ofa provision or part-provision under lhis Clause 18.13.3 (Partial invalidirr,) shall uot affcct thc validity and enforceability of the rcst of this Agrcemcnt.
It(.13..1 lf one Party gives notioe 1() the other of the possibility that any provision or part-provision of this Agrccrnent is invalid, illegal or unenforccable, the Parties shall uegotialc in good f'aith to amcud such provision so that, as anrcndcd, it is lcgal, valid and cnforccablc, and, to the greatest exrcnt possible, achievcs the intendcd commercial rcsult of the original pnrvision.
I 8. l4 Relationship of thc Parties l8.l4.l This Agecment shall not bc interpreted or construed to create a ioint venture or partnership bctween thc Parlies.

ll..r4.l Ncither this Agrcement, nor any document refened to in it, confers the right, power or authority tbr any Party to act as agent, attomcy or rcprcscntative of another Party or to othenvise bind another Pany.

I 8.
I 8.

I -5 Language This Agrccnrcnt is drallcd and exec(ed in thc English language only and if this Agrcemcnt is tlanslatcd into any other languagc, the Linglish languagc tcxt shall prcvail.

I lJ.

I6 (lonscnts Unlcss otherwise providcd hercin, whencvcr a conscnt or approval is rcquired by cithcr Party fnrm the other Party, such consent or approval shall not b€ unreasonably withheld or delayed.

18.
18.

I 7 Rights cumuletive wilh thosc at Law Subject to Clausc 16 (Rcsolution ol'Dlspntes), the powcrs, rights and rflncdies confcrrcd on thc Parties hcrcin, including the rights of termination, shall be in addition and without prejudice to all othcr powers.

rights and remcdies available to thc Pa(ies in accordanoc with Applicablc Law.
l6:ll5{-5]-vlU.0 - 71- bb+ tb \klt s6L r0-10s6t( l.l I I lJ.ltl Rcmedies curnulativc No rcmedy confcrred by this Agreemcnt is intcnded to exclude any other rernedy available under applicahlc law.

I 8. l9 Limitation of liability l8.l9.l lixccpt as cxprcssly providcd othcrwisc in tlris Agrccment, no Party shall bc liablc to the other Parties under this Agreement for any loss of prolit, loss of contract, loss of opportunity.

loss of ploduction.

loss of opportunity, loss of goodwill.


loss of busiuess or indircct or conscqucntial damage or loss.

18.19.2 Nothing in this Agreenrent shall exclude or limit the liability of the Partics for fraud or traudulent nrisrepresentation, or for death or personal injury.
18.20 No doublc recovery Each Party agrccs that it shall not be cntitlcd to an extcnsion of tirnc or to rccovcr damagcs or obtain payment, reirnbursemcnt, restitution or indernnity morc than once in respect of the same shortlall, darnage, deficiency.

breach or other set of circurnstances giving rise to one or morc claims.
I 8.21 Duty to Mitigatc Iiach Par-ty agrccs drat it has a duty to mitigatc damagcs &nd covcnants that it shall usc comrncrcially rcasonablc efforts to minirnisc any losscs il may incur as a result ofthe other Parly's pcrfonrancc or non-pertbrmance of this Agrcemcnt.

I 8.22 Specific performance rnd other equitable remedics Witlrout prejudicc to any other righls or renledies that the Parlies may have.
the Partics acknorvlcdgc and agrec that darnages alonc may not in all circumstanccs bc an adcquatc rcmcdy for a brcach of the tcrms of this Agreement and they shall bc entitled to the remcdies of spccific performance or other equitablc rclicf tbr any thrcatencd or actual breach of the tcrms of this Agrecmcnt.
I ti.23 Sole Remcdy lf the Purchase Plice or thc Devclopmcnt Price is incvocably paid in lull by thc Govcmmelt to thc Cornpany, the Sharcholdcrs and/or thc l"inancc Partics (as applicablc) pursuant to this Agrcemcnt, thcn, subjcct to any riglrt ol the Conrpany to any Clarvback Costs pursuant to Schedulc 4 (Terninotion Prior to Financial Closing\.
each Party agrecs: t8.2l.l that tlic paylncnt ofthe Purchasc Pricc or thc Dcvclopmont Pricc, as applicablc, rvill be in lull and final settlement of, and each Party shall, following rcceipt of the Purcha"se Price or Devcloprnent Price.

as applicable.

be deerned to have then relcased and forevcr discharged, all and /or any actions, clairns.

rights, dcmands and sct-ofTs.


whcthcr or not thcn known to the Panies, and whether in law or equity, that it had, may have or thcreatier can, shall or may havc against thc other Party arising out ofor in connection with this Agreemcnt ofthe Porvcr Purchasc Aglecnrcnt; lnd 11t.23.2 not to suc.

conrnence, voluntarily aid in any way, proseoute or cause to be colnntenced or prosccutcd against any other Party any actiou, suit or othcr proceeding conccming this Agrccmcnt or thc power Purchasc Agr,*crllcnt.
iAqt l-'/ '/ I 6:,l2J.l-5-l -v 10.

() -75- u *lr" \su -91' i)01\-iS-!-SarIel ffi,,*.
*, Itt "t"f, 'ucltF/( cloqe ls.lg atep sqlJo su ss,rrlqucsardsr ro sJaJ[lo pesrJor{tnc Xlnp a.aqrcdssl :rcq1 [q pare,rrlcp puc polncoxe cq o1 luatuaufly sull pesnur o^r,q scrued cqi 'dOXUlp]t\ SS'JNII,1\ Nl lucuroerEy cseqcrnd la.,rrod arp:o luarucorBy stqt ot ,(1ddu tou llctls 'slor?JluocJo pr?^\8 0rl1 z 9z 8l puu :qrarluoJ Jo.f ssc:olrl flurpprq ctll l'92'xt :3uru:aaoB esoqt iurpnlcur 9l0Z tov {cucBV lucluoJ leJo'l cuoal u.ucrS crlt (^r) puu (cuoo'I Blcls) 9002 suorluln8cl lucurf,Jnf,ord 3rlqnd cql (nr):(cuorl p,lrls) 9l0Z tcv luor.urrnrord cllqnd (l!
):tt0Z'trv drqsrouu?d atB^pd ,llqn,l (!)

ctp jo suorsr.rord aq1 slJv ulsuJiJo uo!snlJr:{ 9i 8l 'luauraarBu nqlo,(uelo uouad,(ue Iq qcearq ro uorssrrsal 'uorlurpndc.t 'uolluulu.riol otll 9'SZ'1 ro :luauresr8e rsqlo {uulo .ro.

;suu:| :aqlo Jo uoEe^ou 'luamuErssu orll :lueureoJ8u Jaqlo due rcpun suogeSr;qo ro 1q8u,(ur3o uos.rod,(ue [q rclre,nr.

oql lucurccr8u rcqlo Xuc.

;o luctupuoure cq1 ss?rI sz'8 t '.

t'sz 8I :luaucerEe.nqlo i(uu olur rclua ol uosrad Xue.
(q crnpu3 arp .- 94'tll :lueurccr8e rcqlo {ue olur uos:cd ,(uu ,(q ,ft1ua aq1 t sz S| : lelucrurrpury ro^c^\otl 'ucgutu Suraro;1o; sqt 3o ,(uu ,{q pclcage oq lou [eqs lueruaa:fiy :!^rql ]apun s,ued aql Jo suoquSrlqo pw s1q3rr aq,1 pctrallBun suoltuB!lqO SZ'8 t eqt 3o suorle8rlqo pue slqirr oqt licflr lou llcqs lucurccr,3y snll Jo uoneurnuol ro [ldx1 f'tz rrt 'aq,(etu os"3 crll su'uorluuruual ro,furdxc qcns cro;oq Surruccu scruu.l 'l3aJJo plm ccroJ llnJ ur uruu.rJl 11uqs tucuree:8y srql.
;o {:rdxe.ro uouuuruuol J3Us Jo uo 3c.toJ ul Jnutluor lo olur cruoo ol pcpuclur sr uoqnorldun {q ro ,{Jsscrdxc leqt lucurcu8y srql.

;o uorsr,rotd ,(uV z'tz xt '1aq ieur asuc aqt su) uorleulru:al :o f.rrdxc qrns uo ,(;aletpcurur eseao '(uo1tnu1ut.ra1.
uotltt uotrDSllqo\ 6'S I osnutJ o1 lcafqn'- ' cqs lucrxcoJiv srql ropun suouefirlqo pue slq8r.r s,fued qcec '(uottoutw,ta,T ,i{a7l gl osnclJ 01 twnsrnd pcteulurrcl st .to (.D.ropuDl I puo ntal) t Z csntll] ot tuunsrnd sa:ldxllrnurae.lSv slll Jl l'ti li I lR^!,rJns tz ll I THE GOVERNSIENT OF THE REPUBL|C OF SIERRA I,EONE, ACTil\ic By THE MTN|STRY OF PINANCE AND ECONOMIC DEVELOPMENT ur' 1L^'*f,9 ' Nanrc: lf c f 1: i-' v i' / .
'/ttL-'Bs Title: rl i xrt >rDd' tt TITE GO/V}RNMENT OF THE REPUBLIC OF sIERRA LE0NE, ACTING BY THE MINISTRY oF E:\FgcY Bv: ii : Nu,nc: .

[1q3 +(f-^1 - Titlc: r1'rtr-\\1\-\\ ir].K..+-.-r-/ THE CO Y By: Namc: Title: f+itttFri C-tL t.t ' c14 Cur'ir.j e---- o y)- LCY ft+ Orrva *aJ T'I IE SII.\Rtr}IOI,DRIIS BUltBtilA (ItoLDr\GS) r.llIl'l'ED ,to lly: .0 .
e. c\vAd, Htl Namc: ritle:!rllgc'z^r- E)il:R(;\' ERV|Ct,S (;o By: 0& Nantc: 'fitle: pna'r-l. C U+-i rrh4,\u i\NY LIMITI]D L O,9;ctctflNamc: #c<,- tly: Titlc: \Lo'r,.".

'c"cr *h tn-.,qe{.a7 SCHET,UI,E I IlllTl,t L CO\ S !
:.\-'rS PAR'[ A COMP,TNY CONSENTS Thc Conrpany shall obtain thc following cotrscnts, penrlits and liccnccs: Investmcnt Licence and Investment lncentivcs ftorn The MoF-ED, and National Revcnue Authority Permit to operate an electricity facility lrom The Generation Commission (yet to be cstablishcd) and The Ministry of Energy Generation Liccnce from The Oencration Conrmission (yet to be established) and Tlre Ministry of Energy Watcr Extraction Liccnce from Thc Ministry of Watcr rcsources/Sicrra Lconc Watcr Company (water for operational/gencration purposes), Site assessment approval Environmental Impact Asscssmcnt Report approval Land lease agrecmcnts lrom The Ministry of t-ands and the E,nvironmenU Traditional Rulers/Attonley Cencral's Ol'fi cey'Regional/District Administrations Appmval of easemcnts l'rorn The Ministry of Lands and the EnvironrnenU Traditional Rulcrs/Attorncy Gcncral's Offi cc/Rcgional/District Administrations.
-) 4 5 6 7 1i PART B }:PC CONTITAC'TOR'S CONSENTS 'Ihc I-.PC (:ontractor shall bc rcsponsiblc for procuring all construction relatcd opcrational pcrmits, conscnts and liccnces requircd tbr carrying out and complcting the Works.
Thesc include, intcr alia Pcrmissions rcquired to run a construclion busincss in Sierra Leone 2 J 4 Registmtion in Sicna Lconc as a Limited Liability Cornpany and as a "Class A" Contractor Pennissions required to construct the various pans of the Work eftg/ Review and certificarion of designs by local engineering fimr/ Sierra Leone Institute of Architccts- , n Ministry of Public Works & Infrastructurc V7 - 7tt- 7(!.
:t)11 1.11 fi{0. s6 L s/iD .t*4 -61' 0 0t,r'{s'P'szaz9l :o e,rrsoldxa Jo asn PuP podur etp :o3 pcrrnbor slluuad 11u 8ulpn1:ur) Uruucd Eutlsqq lcoX 'la (s;euclaru snoprsrurl clluolc1 lBuoqoN crll ulo{ uorgduraxo pung orusuJtul?W speo1 pue uottduroxo ,!np leng '02 ,ft1srur61 aurl pue ,$rroglnv enuc,\cU FuoueNi aqJ uto.rj utrrldtuaxc godtut 1st1 ra1*y1 '61 (1lrotpny sleuoluur pua lueld roj partnbe.t suorssluuad '81 luaurdrnbo puu 1uu1d :oy socuacl'l ,sarrtlurcd6 'Ll sclrs 1ra[or6 ol ssemu JoJ sluucd 1clu1 '91 lcuuos.rcd u8raro3 :o3 slruucd 1o,11 'S l lauuos:od u31ero3 :o.; slnurod tuoprsa1 'nl lcuuouad uiro:o3 ro3 sesrn 'fl lcuuos:cd s.to1cu.rtuo3 cq1 i(q polnbar suotsstuuc.l '31 suorlo.nsru rrupV IcqsrqTluuorEcXTaclg6 s.leraucg,{auouVlsralnU I8uoBlprrJ Aucr.uuotr^uS eql puo spuel io rfu1srury1 aqJ ruo{ (aucqes paludrcuuu s,tuarlJ cql tuo{ :egrp suogeredo pue suSrscp s.rolf,uuuoJ cql lprlt tuclxc sql ol) sluetucsug go 1e,ro;ddy 'l t suorlBrlsrunupv tcr.rlsrqTleuorEagTorrj;6 s,lercuag,(atuouv/sJclnU leuonrpBrluauuor^ua aql pus spuBl .Io fulsrurhl crll ruo{ (euraqcs patcdrcuue s.luell3 cqr uo{ rclJlp suopu:ado pue su8rscp s.rolrerluoJ crp ;eql tuclxc cql ol) cseat puo-I '01 ,{uudruo3 Jore1\ euoo'I euers/secrnosar relu1\ Jo {:1srur141 aqJ uro{ acuaf,t'I uollcu.tlxE Jale1\ '6 '(scsodmd uoqJrulsuoc JoJ pasn :clum :og) SPBOJ SSCJCS JO UOllCrUlSUOr.rOJ uOllBSuOr,UnB rO/pUU SlruuCd '8 clrs duec 3o uollcrulsuoc ro1 uorlssuoqlne Jolpue slrrrlhd 'L (slnucd lusodsrp ets?^r scpnl.ul qcrq,n) oouocrl y4g '9 arnlJrulsB{ul ?
$lJo1h cr1qn4.

;o A:tsrur1l11 eql wo{ $poh\ eql Jo.l lrrtJad uorlcrutsuoJ 'S l. l SCHl]DULE 2 LAND DESCRIPTIONS AND MAPS 'l'he Project is located in North-East of Sierra Lcone, as shown on the rnap bclow.

and consists of the follorving plants; l]umbunaExtension; (i) (,) (k) Yibcu.
Bunrbuna Environmental l-low Powerhouse (precise location to be confirmcd); and Thc following maps pu,ide dctails of thc prcjcct location and projcct arcas, as dcfined as the "Site" in the lmplementation Agrecment; Figure 2-l - Project Location in Sierra Leone, (l) (nr) Figure 2-2 - General Project tncation Plan, (n) Figure 2-3 - Bumbuna Extension Layout, including Bumbuna I Land ("Bumbuna I Land"), and (o) Figure 2-4 - Yiben Layout.
I 6:125-4-53 -" I 0.0 - 80- 4, 7Hos68r4r fr\', s Figurc 2-l Project Location in Sierra l,eone { 1,, I i I6:.125".1-511 10 0 - 8t- e"1/ IF ,*r*,a,$r, rtltttt t, 1 I I tlt ttt Fi 2-2 Ccncral l'ro cct Loc lion Plrn I I t ) I I I I I I i ..t f--t E B...wolt hdclln.

St. &.. ('s.ti,') T...6.tt .ro.

Lar.

(lbt a.P,rtrbdtty oa GoSL) - .


Major s.td.m.^t r6ti L*6- )- --f .€ "soo \),4(\\ E Ov.r.ll Proi..l Foolprrnt t, Ut:RI{ - 82- 70jl)j0lilJ I I I I I I l I I'igure 2-3 llunrbuna Extension l,al out I I I EA ) E Sullltrn.

I L.n!

- - C*SL to ptcvtCo Refit ol l+ry EumDun.

8l!i.l,on Prqccl N A U - 83- 70-l0s68 t4l [= lod..liv.

S,r.

.nd Sbtnf Art.

.

{'S,..

', lLoaatrn ol 11kv rinfinlrrlon llr,!

llrr.

dr Environm.

(.| no* Powa.nou.. to EumDut.


E a,ralcn lo la coniEnad, Go!.,nm.nr l..nafi.tion llltrrr t22sMnnr,nir..n tne a,{ r"!c.ior.r - t SaltLman!

&FS ,x-, I Iq "l I b5 ].

i 0 : l_*': \A ', .\A 'I i I : ,lI) .

).

z ', t'lt o ilzo n a a =z C) h , : I I l, I N J.

(\ \7 I z .l SCIIf,DUI,E 3 SIERRA LEONE LOCAL COI{TENT POLICY ln this Schedulc 3 (Sierru Leuta Lot:ul Contcnt PolicS,) Sicrra Lconcan rncans a citizen of Sierra [-eonc or a Sierra Leoncan business.
'l'hc Company shall: givc prct'crcncc to thc usc ol equipmcnt.

matcrials and products manuiactursd or produccd in Sicrra Leone.

or services provided by Sierra Leoneans, where they are of bclter, cqual or conrparable value to those available lrom othcr sourccs outside Siera Lconc.

taking into account pricc, quality.

reliability, timing and availability: within one hundred and eighty ( 180) days of thc datc of satistaction of the Interim Milestonc.
proYide the (iovenrment with a dctailcd reporl on poteutial Siena Lconcan supply, cmploynent or contracting opportunitius in rclation to thc Prujcct, including oppofirnities which could rcasonably be created with thc provision of training: announce all upcoming local contracting opportunities relating to thc Projcct o PPP Unit websitc and appropriatc local mcdia outlcts at lcast thirty (30) days b' the contract is to be arvarded: within orrc lurrdrcd and cighty ( ltlO) days of the date ol satisfaction of the Int Milcstonc, appoint an o{ficcr rcsponsiblc lbr: :.4.t liaising with Sicrra Leoneans in relation to supply and contra, opportunities ir relation to the Projcct: thc facilitation of supply.
cmploymcnt or contracting opportunitics for Sicrra l-eoncans in relation to the Projccti and 1.1..1 monitoring and rcporting to the Govemrncnt and the Olflaker on the Company's compliance rvith the C)ornpany's obligations sct out in this Schedule 3: work with its proposcd EPC Contractor prior to cntcring into an EpC'Contract to identify Sierra Leoncan supply, employnent or contracting opportunitics rvhich the EPC Contractor could usc to pcrfbnn thc [:PC Contracl: give prefercnce to the enrployrnent of Sierra Leoncans where they have thc ruccessary skills in relation to the Project: prcpilrc an annual corporatc sociul rcsponsibility policy and rcport on its implenrcntation; :-- ^^ ^.1 ,.-l-- rh^ l. t.t 2.3 2.4 2._s 1.6 2.7 ffi 1l }N -9ll - 01)lr-tsfszii9t 1u7o6g) tucc .rod {yqirn suortrsod Ic^cl clpprr!
(o749y ruac rcd fixrg suorlrsod pr:aieun14 I urol arlt Jo pue aql lllun olBO uollBrtdo lrltrcruuro3 eql go furs.ra,rluuu (0,7) puooos oql uroJJ 1yog9) luoc rod ,(gr1 suollrr^od la^cl alppr lA (y"67) luar rcd .

{1ucm.1.

suorlrsod pucinuc14 olEo uouBredo lBlrrauruoJ eql 3o Lruuo,rluuu (poz) puoras orll 1;1un 3u1so13 l"ltuBuhl utorj auoa"I 8rr0!s Jo suaz!f!)
iq paltg aq o1 suop;sod Jo a8ufuarrad taE.rel suo!tlsod :sslonb ^lolaq aql 8ul^alq3e ol ,r\or^ s rlll,{r L'6 a puB :luBld ctll le lJo,rr ol ,(ressacau sllrls aqt ql1,t sraauriua af,uuualureu pue uoqruado puorssajord su uuc.
( (g) c,rg [rc,rc pcurrrl cJe cuoc'I c.ucrS Jo suczurc ([) ccJrltr lscll te 'cleo suorlercdg larcjcururo3 crll uro{ Surcucturuoc 1rq1 os i 6'i :lueld aqlJo sre8eunur la^ol-prul ro s:seur3ue se pa{o1dua eJB auoe'I Euars Jo suazrlJ (C) aeJql lsccl tB 'clsq suoqurcd6 lercrJuluro3 cqt ol :oud sqruoul (9) xrs lnrll os I6'i :urcr3o:d uorssclf, ns pun 8urure,.r1 u (lucunuclog cql Jo uorloeJsrlus alq"uosnar eql ol) lueualdurr pun dola.lap 'i(lpquyu,rr pue 8urun1',{1r1lqur1cl',(1r1unb 'ccr:d lunoccu olnr 3ur1e1 'euoa1 e.uats aptslno soclnos Jaqto [u){ clqnlln^n osoql ol cnlul clquruduroc ro lenbe 'refloq Jo a.re ,{eql araq,,rr luelxa aqt ot aseo qrra ur 6Z 'suecuoo'l eucrs rill,r sloerluoc uo luctls sr lu?ld cqlJo couuuclutuur puu uorlc:ado aql uo a.lnlpu.dxa lelot Jo (%0S) tuar rad ,(t3 g tsucl tu puE :st Ecuoc'l BJJolS qllii\ slcelluoc uo lucds sr 1ca[or4 cql roj ornlpucdxo Julrdeo p1o1 3o (y061) lucc rcd ucl tsucl lu :sueor.roa'I urrcr5 ,(q popr,ro.ld cre lcelbr4 cqt ol iuquler slro^\ ll^rc crnJo (%0g) luoc:ad flq8ra tsual lu flti a'8 u l,l'i t t\ )l 44 -tn - '^\el alqeJrlddv Xq pcrrnbor sRIl ur lno 1as quatuclnbor lucluoi lerol aql leql so8palmouloe luculuo^oC or4J 't, 'srtluout (9) xrs Surpaccrd oqt Suunp lbtlod ,ttdtuo) lD)ol auodl n.ud!S) t alnparlJs slrlt ul slucurorrnbc1 lurluoJ lErol eql Jo uorlslueualduu aql pue qtl^l aruerldtuoo s1r ffurpelap odar lenuuB-rq 8 qlr.$ rclu{Jo eql puo tuauuc^oD cqt apr^ord lleqs ,{usdr(roJ aql SCIIEDULE 4 .I'E R}I I \,\TION PRI() R O F.I NA}-CI,,\L CLOSI:i(; l. Paynrcnt Notice Upon an carly tcnnination of this Agrecment pursuant to Clause l5.l (Termination prior b Financial Closing\ as a result of any one of tlre events set out in the fimt colutnn ( i'erarinatknt Evcntl bclow: Ll.t t.1.2 thc Party set out in thc third colurnn (the "Relevant Party") may sene a notice (a "Paynrcnt Notice") in accordance $,ith the procsdurcs set out in this Schcdulc 4 ('ferninatiou Priu' to F inancial Closing).
an<J thc Comparry will provide thc Govcmment a summary of thc principal commcrcial tenns and/or paralnclcrs of thc documents and assets whioh constitutc cach Asscts and Documcnts Packagc and rcasonablc supporting information evidcncing the out of pocket costs reasonably and properly incuned by the Cornpany andlor the Sponsors in respcct ofcach Assets and Docurnents Packagc.

Thc Govcmnrcnt may audit such costs at its o$,n cxpcnsc.
Termination Eyenl Tcnrinalion ol the lmplementation Agrocnlcnt pursuant to Clause l5.l .l (c) (Tanninalion prior to Finunciul Closing) Tennination of the Implcmcntation Agrccnlcnt pursuant to Clauses 15.l.l(d) or l5.l.l(c) (Tcrninarknr prior to ltintnciul Closing) Devektpment Price Relevaut ParO I I Dcvclopnrcnt Price A Conrpany Development Price B Govcr:rrncnt I .2 Thc Rclcvant Party rnay deliver a Payntent Noticc within: I.:.t t.?.

: s,herc thc Rclevant Party is the Company.


nincty (90) days of the receipt or decmed receipt (in accordancc with Clausc 18.1.2 (,Vntices)) of thc applicable lA Termination Notice; and rvhere the Rclclant Party is thc (iovemment, twelvc (12) months of thc rcceipt or dccurcd receipt (in accordancc rvith Clausc 18.1.2 (Mricc.r)) of the applicable IA Tcnrination Notice.
1.3 Thc Payurent Notice shall sct out the Developrnent Pricc payable by the Ciovcmrncnt as dctailcd in tlic second colunln (ahe "Dtvelopment Price") of lhc table in Paragraph | .

I of this Schcdulc 4 (Termination Priu' to Financial Closing).
- 88- 70-1056r I .l I l.t) ft\' w ,'S, ,,ls s )1q -6rJ - 0 01^-tS't'Jit;91 sscl :slso) lrreuldolcAo6 polrurrad cql Jo (%01 I ) luer Jcd ucl puo palPuntl auo tai :o1 lunbc tunoun rre suurru ,,stsoJ IrBqA{BlC,, 'g1soj :poqan17) t qder8ero4 srql.go scsod:nd atp ro3 'palrurl 1s3urp1o;1) uunqutng alnoJ f,q puuruap go s[up (66) [1curu urqlr,t polruul (s6urp1og) eunqrung a1no1 ot a1qe,(ud aq 1leqs qlq^1 slso) Ireq^rulJ crlt ol prllquc aq lluqs peltutl 1s8utp1o11) eunqunB alnof al- 'iJuoN uor'lsurur.roJ VI oql Jo alpp alr uro+ sqtuoru (Zl) a^lc^u sl luqr clup aql3o fuusarr,ruuu (ut) pl!tll rtll (lr) Ptre alt:4 ;ucrudo;cnc(l lurrAcltl ctll Jo ltlluttuf,AoD cqt ,(q tucuu(ud jo ,ftes.lc,rruue (rut) pllrll ll (!)
Jo JarFEe cql ulo{ eturt ,{trc tE JJ uunqun8 urelurcul ro cleJcdo 'umo 'uotssrurtuoJ 'lJulsuoJ 'ccueug 'do;c,rop q1 fuud p.uqt u qIn stucurtc:f,e iurpurq leurJ olur srJluo pur:\D,rd uaut<lo1a,rag atpJb yarrairry) 7 qdrl6em4 o1 luunsrnd g o:lu4 luarurlolaacq cq1 ,{ed ot pc8rlqo croJeraql sr pur, rclloN 1uru,(e4 c sJe^rlop alt I I't :tucr.utue^oD crll lcrll lua^i aql ul I t slso) IrEqArEl) t '17'1 qdat3uretr qlr/t\ acuupJoctu ut luJuruc^oD ctll ,{q pcguou se) (s)c8c1cetr slu.ulnJoq pue slassv luslalal aql lueuuJelol) eqt 01 lcJsuBll 'c1qe,(ud sr g ctrFd lueurdoloircc l8rll luorrJ c{l ur pue lsa8elcu6 queunrog puu slcssv cql 1s luautua^og eql ot JaJsuerl 'a1qe{ed sr V orgd 1ueurdo1oaa6l turll t(rala cqt ul a rf ltr :lluqs ,(uuduto3 xtll'(afie arloaJJg at7 ot ro!.td uotloututal'1i olnpcqis strlt Jo (rr.l.rdr asot1,>tn4 Jo ,uau,{nd) 7 qderSu.ru4 Jf,pul ocrJd luaurdolc.,ra6 cq1.
;o trleur,(ud uod6l I'r roJsuBrl 't 'cJrloN luctu,{e.1 eql ut ,$tocds {eut,(ucduto3 erll sB auorl s::ars aprstno ro aprsur lunolc?

qrns ol spuru elqglrslu {;agarpeurur ur pue crrloN luetudu4 cqt go ((sa;1lo1y; Z' I '8 I :lsnel3 ql!^l rlrup.rocJe ur) ldrccc.r paurccp .lo ldrccc.r 3o clep cqt 3o s{up (66) ,tlcutu utqltm,{ueduro; eqt ol cJrJd luerudo;caag cqt,(od 11eqs luaurua^og crll tz acg4 luowdoJcaoq aq1 .

;o 1uour.
;o 1uour.

{e4 'Z '1sciu1cu,1 slucunr1tr6 pue stossV luenclct eqt {uucpr puu) sciupud sluitulr:loq pup slossv aql 3o ,(uu esuqo:nd ol scrlstl\ lt lcqlrq,$ ol sD 3ctloN tuauu(u4 cqt ur .

{ueduro3 aqt,!l1ou lleqs u lucuturc^og aql st,{pe4 tuu,ra1c1 eql o.larJii\ t'l any amounts othcrw'ise paid by the (lovemment pursuant to Development Price B.

5.
5.

Dcfault Intcrest The Covcrnment shall pay intercst at lhe A$eed Interest Rate on any unpaid Dcvelopmcnt Price due and payablc under this Schedule 4 (Termination Prior to I'inancial Cktsing) from thc datc payrent was duc, up to and including thc datc on which payrncnt is made.

6.
6.

Dclinitions "Assets and Documents Package" rneans cach of thc following: (a) (b) (c) the E&S Studies as produced prior to, and following, the Signing Date; the L'casibility Studies as produced prior to (and including geotech studies.

all LIDAR data and hydrology studics).

and following.
and following.

the Signing Datc; antl the I'roject f)ocunrcnts Package "Agreed Interest Rste" lneans one ( l) month USS LIBOR intcrcst ratc which would bc applicablc to a similar arnount plus two pcr ccnr (2%) pcr annum, compoundcd on the last day ofcach nronth.
"Assets and Documents Package Cost" rneans in respect of an Asset and Docurncnt Paokagc, thc total out ol pockct cosls rcasonably and propcrlv incuncd and in accordancc with Cood lndustry l'mcticc (without double counring) by the Company and / or the Sponsors with regard to such Asset and Docutnenl Packagc.

"Devclopment Pricc" means Dcvelopnrcnt Pricc A or f)evelopment Pricc B (as applicablc).

"Developnrent Price A" mcans an amount equal to the Pemlitted Dcvelopment Costs.
"Development Price B" msans an rmount cqual to thc aggrcgate of the total Assets and l)ocunrents Packagc Costs in respect of the relcvant Assets and Docuntcnts Packages, as notitied by lhe Covennnent pursuant to Paragraplr 1.4 above.

"E&S Studies" mcans all of thc cnvironmcntal and social studics commissioncd by the Sponsors and / or the Company in relation to rhc Project.
"Feasibility Studies" means the feasibility and construclion studics comrnissioned by thc Sponsors and / or thc Company in relation to the Project.

"Permittcd Development CosB" means an amount cqual to thc ag$cgate oi (a) USS 30.000,000; and I b2325-r-51.!

| 0.0 90- {rd [?
{y ,rs ,h '1/r(h -t6 - 01 ^-tS-!-SZfZ9l 'aot1o1r1 lucurfe4 cql.lo etep aql ol:oud olueql scrpad ot11 uecr$loq uortclnc:n ur eru lnrll slueunro11 lrcford '3ql Jo sgurp lsclul 'Jo pctnccxc oql succur .a8urye; lueunJoq 1rofo.rg,, 'sJolrpnu tucprrcdcpur ;o uu g pcsruSoccr flleuorluu:c1ur uu Aq pa$lra^ uacq c^sr{ slunorxe qJns lutll pcprno:d puu tuoruoariy srql 3o uouBuruucl cql pun 3urso13 lercurur.l .lo Jalpua cqt uo Eurpua puu lucuraarEy srqt.lo ilcp crll uo 8ur:luaruuoc poucd ory Suunp 'srnour4 ,01snpu1 poog rl1^{ sluoproJiu ut pue 1cc[or4 cql qtrirr uour3uuo] ur fu?druoJ ag .ro i puu slosuods oql {q paunour {1a,rrsn;cxa pue ,(laluuorpodord ',{lquuosuc: slsoc luatudolc.rop ,tue (q) .IRANSIUR SC}IEDUL[ 5 ON ]'ERMINATION l. l.t 'l'ransfer \oticc Upon an early tennination of this ngreetnent pursuitflt to Clause 15.2 (Tcnninution for C'onrytatrv Events of Delault Jbllox'ittg l"inant'ial Closing), Clause 15.3 \T'cr inatiut .fbr Company Et'e,,ts o.f Default .lblktu'ing Firunciul Closingl or Clausc 15.4 (Terminution due to !he terminuliott o/ the Pou'er Purchase ,lgreenenl fbllot'ing Financial Cbsing) as a result of any one of thc evcnts set out in thc first colurnn ( ircrnrlaa tio Eve tl bclow, the Party dctailcd in thc sccond colultln (Pd,'4' l:ntitle(l k, Scne o Truns.fer Notice\ below nray serve a noticc (a "Transfcr Notice") in accordance with the procedures sct out in this Schcdule 5 (Transfi'r'on Terminatktn'5.
Termination Event I i I I i Party entitled to I serve a Transfer lNotice Purchrrse Price 'Ilrc Govemment I Purchase Price r\ lJarly 'I'trmination of the Power Purchase Agrecnle nt Termination of tlre Power Purchase Agrcenrcnt by thc OlTtakcr pursuant to clause 17.2 (Tennination ('otnpan_,- Event ol' DclAuh) of the Porver Purchase AgrL'cment Temrination uf tlrc Power Purchase Agrcement by the Company pusuant to clausc 17.3 \Tcr tination .
[or Olliakcr Evcttt ol Default) of the Porvcr Purchase Agrcclrrcnt Tcntrination of the Powcr Purchasc Agrecmcnt by thc Otltakcr pursuant to clause f 7.4 (Terminatiotr Jbr lncreused (i,sls) ol thc I'owcr Purchase Agreement -llre Govenrnrcnt or tlrc Cornpary The Cornpany or I Purchasc Price C I rhc Majoriry I Shareholder I I I Purchasc Pricc C I I l'enninalion of thc Power Purchase Agrcclncnt by the Offtaker puniuant to cliruse I 7.5 (Ternination .litr a Proktnged tlvdrologitttl Construint) of thc Powcr Purch:rse Agrecmcnt 'Iemrination of the Agrcement by the Company pursuant to: a) clause 15.7 Powcr Purchase Offiaker or the I'irct: Prolot l(!
::!25-l-5h l(,.
(l - t)2- Thc Covcmnrcnt or the Company I Purchase Price C i ___l Purchase Price C The Courpany or lhe Govcmmcnt k1 ffi t$ 'I'crminalion Evcnt I I Purchase Price Party entitled to serve a Transfer Notice lvlujeu'c ErelLs) of lhe Powcr Purchase Agrccmcnt duc to a Prolonged Forcc Majeure Event which is a Political Force Majeurc Event or a series of relatcd Political F'orce Majcurc Events; or (b) clause 15.8 (Termination .folkn'ing a Politicol l;orce Majew'e Evenl or Changc itt l.ttu, or lz,r) ol the Power Purchase Agreemcnt.
"lcmrination of the Power Purchase Agrcement hy thc Offtaker or the Conrpany pursuant to clausc 15.7 l (Probngal Fon'a lt'laicure fvenLs) of thc Por,l-cr Purchase Agreenrent duc to a Prolongcd Forcc \4ajcurc F.vcnt rvhich is 0n Othcr Forcc Majeure Evcnt or a serics of related Forcc Majeure Events affccting thc C)fftakcr fcrmination of thc Po*'er Purchase Agreeurcnt by the Ofkaker or the Company pursuant to clause 15.7 \Proktngetl Fot<:e llujeure Errnts) of the Porvcr Purchase Agreenrent due to a Prolonged Forcc Majeurc Event which is an Othcr Forcc.
Majeurc Evcnt or a series ofrelatcd Force Majeurc Evcnts affecting the (:ourpany Tcnrrination of the Powcr Purchasc Agreernent by thc Offtaker or tlre Conrpany pursuant to clause l(r.5 (Ncgalivc rei,tstolement delermination) of thc Powcr Purchase Agrcelncut due to a Casualty Occurrcncc causcd by a Constraint Event Tcrmination of thc Power Purchasc Agrcernent by thc O[ftaker or the Company pursuant to clause I (i.5 (Negutive reinsldtement clelernrinaliotrl <l[ thc Power Purchasc Agreement due to a Clasualt Occurrencc nol caused h a Thc Company or the Govcrnment Purchase Price B 1'he Company or thc Govemment Purchasc Pricc B The Cornpany or lhe Covcmmeut Purchase Pricc Fl --l I Thc Cornpany or thc (lovcrnrneDt l'urchasc Pricc A l6:125.1-5.1-v10.0 - 91- 70-l(,s6s l.| I ws, P*, +$p ffi {t rb€ -i6 - :tBqt lue^o crlt ul E't '(uo!tDultu.t.
',J uo .tzJsaDrJ) s xlnpctlss srql Jo (arlrrN raJsuD.U) t' t qder8sJcd ur ol potrc.lil sulcl oql ut puu uollEcll tUcJ cql qtr^\ 3uo1e acu.1 osuqarnd pcsodo:4 tlons Jo Sutlu,n ut lucururolo5 orll i(Jrlou putr crld eseqclnd pasodo:4 crll auruucltp alqecururd su uoos str IIEtls ,(ueduro; cql 'lucturuc^oD eql uor.l ocrloN JoJSUEJJ E sanrcter fueduro3 cq1 ..y1 '(,,mlrd osuqrrn4 pasodo.r;,, cql) suonslnoler Sutuoddns clqeuosuc.r qlr,tr raqlaEol (uoryDultutal to tdlsun.\I) g elnpaqcs sull Jo (r,)r,(W .trJsuD.tt) 1'1 qdurEu:ed ur alqel cql Jo (ytat'7 uorytutuual) uunrlot lsru ctll ur lno las luo^'l uorluuruucl eqt ot clqucrldde luoltuultura.l.
uo ra/!

D.tJl g clnpcqrs snll.ro (rrt)N .t;liunt.1.

'1 1 1 qdn:8r'.rud rr olqDl orlt ",o (a)ud as0qrrnd) uurnlo, F,uU cql ul lno tes cJlrd aseq nd cql Jo uorlsunruJlap luuorsr,rord cqt Jo (alqullddc su) .rcploqa:uq5 dlyofuyl cql .ro truudtuoS cql Fq uortucgruor n ureluol ll"rls .rrloN rcJsuu.

{ iql 'aJlloN JcJsue.rJ, o sror\llap .laploqeJuqs ,(1.ro1o1,1 aql :o f,uedruoS crp j1 ' \uo, t D u t tu.t dJ uo .oJs uu.r 1) t clnpiqrs srrfl Jo (.rrA'rlrr.
{ .1b uoaaylruoT'1tr qde:.3ered qlr?r crur?pJorf,u ut trrul<l aql ur lsoratul prru ellrt tq8r.r s,,(uedruo,l aql Jo IIU cseqcrnd lluqs tuounlJo^of) rql pue 'lucurua-{o[) aql ol luuld aq!

raJsus.rt o1 {uudtuo3 aql sa:rnbar acuoN raJsurxl c Jo cnssr cq1 ',(ge6 lu?^clcr 3rl!
,{q pc,rrcocr sl aJnoN uorleuruuol vl luB^olo.l crlt qrrq.r\ uo clup 3ql rsgu s,(ep 166) Flauru sr wrll olup aql ot dn ,{ued raqto aql (q pairrarar sr ooiloN uortuuruucl Vl ue qcrq^\ uo clep crll JetJD ro uo cunt ,(uu 1z ccr1o51 rclsuuJl s Jc^rlip f,ew (uttttourtutal uo roli'un,tJ.l g ollpcrps srqt Jo ( ao,U raliuD.g) 1 '1 qdur8ued rapun orloN roJsrrcrl u arr8 o1 pcprluc i(pn.

; y tl t'l c (3u 1 so 1.1 I Irrauru.ro^o{) aq.l.


v 03ud aseqf,rnd D t;'ratru t.4 ilu1no11q/ ilnql:1g ./b s^rua^il t(aDdnoa) ,to| uo!,Dutural\ e'Sl asnut3 o1 yunnsrnd llnpJJC Jo 1us,rg ,{uudlro3 D ol onp cleq o^rlot1J:l Vdd cttl 3ura,ro11o.1 lucurccriy uorlulucuraldurJ all Jo uorluurnJJoJ (SutsolJ lDDuDut I ?ut.no11oJ' 1 lnnJ,tq Jb sruatV ,uau .D,ro!)

rol uottou,ut.tal) t's I osrlclJ ol luunund rlno.Ioo Jo tuc^S lscuruJc^oo o ol cnp clBo c^n.
)r.U1 y64 a{t Bur,so11<1 lucurau8y uorluluauraldu4 cql Jo uouuuluuaJ.
3u1so13 ;u;ruuu;l JoUB tuoruJJrBy uo11u;uauraldul orll Jo uoglnupu.rc; ,(1re3 J CJIJd astlqJjnd ,(uuduroS aq1 I I I I aJIJd rsBqJJnd er!toN I'JSUAJI r| aAJaS o1 pa1lglua {1ra3 IUJ^:l turtlrlsrroJ lua,rx uo!lBulurJcI 1 2_l t.5.1 t.5.2 only the Govemrnent is cntitled to issue a'Iransl'er Notice in accordancc with this Schedule 5 (Trunsfer on Tenninution\: and following thc dclivcry of the rclcvant IA Tcrmination Noticc thc Government or a Govemment Authority (a) carries out a Sharc Exproprialion Everrt, or (b) canics out an Expropriation of Control, or (c) othcrwisc cornpulsorily acquircs, expropriates, requisitions or nationalizes the Projcct (or any part thereo|, the Company or any asscts of the Cornpany, the Finance Panies or the Contractors, thcn thc Govcmrncnt will bc dcemcd to have issucd a Transfcr Noticc and shall bc lcquircd to pay the applicable Purchase I'rice in accordance with this Schedule 5 (TronsJbr on Tcrninolion).
Vcrification of the Proposcd Purchase Price The Covcrnment shall within sixty (60) days of the Government's reccipt of thc Company's calculation of the Proposcd Purchasc Price undcr paragraph 1.3.1 or 1.4.1 \Trunsfer Nolicc) of this Schedule 5 ('lizns.l'er on Terninution\ notify thc Company in writing to confirm whether it: 2.1.1 aceepts the Corrrpany's calculation of the Proposed Purchase Price (and in such case such Proposed Purchase Pricc shall bc the conclusive Purchase Price for thc purposes of this Agreemcnt); or 1.1.2 rvishes to apgrint an intemationally reputable firm of indcpendcnt accounlants (thc "lndepcndent Accountrnt") to vcriS the Conrpany's calculation ofthc Proposed Purchase Price, provided that: (a) if the lrrdepcnclent Accountant agrces with thc Cornpany's calculation of thc Proposed Purchasc Pricc, thc expcnscs of thc lndependent Accountant will be bome by the Government; and (b) if thc Indcpendent Accountant disagrees with the C,'ompany's calculation ol thc Proposcd Purchasc Pricc, thc expcnses of lhc Indcpendcnt Accountant u'ill be slrarcd in equal proportions bctween the Conrpany and thc Govcmmont. ')
') 1.3 (each a "Government Response").

lf a Govcrnmenl Response is not provided to the C-'ompany rvithin sixty (60) days of the (iovcrnment's receipt of the Company's calculation of the Proposed Purchasc Pricc, thc Govcmmcnt shall be dccmed to havc acccptcd thc Proposcd Purchase Price and suclr Proposed Purchase Pricc shall be the conclusive Purchase Price for the purposes of this Agreemcnt.

If tlre Covcmmcnt appoints an lndependcnt Accountant pursuant to paragraph 2.
[ '2 of this Sclrc<lule 4 (Tronslbr on Tern nation).

the Company shall pennit the lldcpendcnt Accoutltant to access and take copics of all relevant documcnts and rccords in its posscssion that arc not subject to profcssional privilegc and tltat arc It!

:i:5-1-51-vl0.O - 95- 70-.10568 I 4 I @7u 16/ \ft\tw ).4 1.5 reasonably required by thc Indcpcndcnt Accounlatt to verify the (:onrpany's calculation ofthc Proposed Purchasc Prisc.
Thc lndcpcndent Accountant's vcrification of thc Proposcd Purchasc Pricc shall bc completed rvithin sixty (60) days of the Governrnent's receipt of the Company's calculalion of the Proposcd Purchase Pricc and the Covernment shall procure that thc lndependcnt Accountant providcs a copy of its vcrification rcport to thc Company at thc samc timc as it is providcd to thc Govcrnment.
If thc lndcpendent Accountant confirms the Proposed Purchase Price in its verification repori, such Proposcd Purcha"sc Pricc shall bc thc conclusive l'urchasc Pricc for thc purposcs of this Agreemcnl.
Sub.jcct to paragraph 2.6 below, ifthe Independent Accountant does not confirm tlrc Proposed Purchasc Pricc in its vcrification rcport and thc Govcrnmcnt and thc Company are unablc to a-qrcc on a Purchase Pricc within sixty (60) days of thc Company's reccipt ofsuch verification rcporl, such failure shall be dccmed to givc risc to a TLlchnical Disputc.
If a copy of an Indcpcndent Accountant's r,erification of the Pruposed Purchase Price is not delivered to thc Cornpany rvithin sixty (60) days of the Governmcnt's rcccipt of the Cornpany's dctsnnination of thc samc, Ihc Govcmmcnt shall bc deenred to havc acccptcd the Proposed Purchasc Price upon expiry of within sixty (60) day period and such Pmposed Purchasc Price shall be the conclusive Purohase Pricc for thc purposcs of this Agrccmcnt.
2.7 l'or thc avoidance of doubt, Purchase Price A, Purchase Price B or Purchase Price C shall not, under any circunNtance, be cqual to an amount less than thc Nct Dcbt 0utstanding.
..] Paymcnt of Purchasc Price When the Purchase Price has been conclusively agrccd or determinetl: 3.1 the Govenunent shall with rcspcct to the payment of Purchase Price A: t.l.l pay an alnount cqual to thc Nct Dobt Outstanding to the Financc Partics; or 1.1.2 with respect to thc paymont of Purchase Price B or Purchase Price C, pay: (a) an amount equal to thc Net Debt Outstanding to the F'inance Partics; and (b) an irnlount cqual b Purchase Price ll or Purchaso Pricc C (us applicable) nrinus thc Nct Debt Outstanding: (i) (ii) to thc Conrpany: or rvhcrc thc Majority Sharcholder has dclivcrcd thc Translcr Notice, to each Shareholder pro rata to thc pcrccntagc of their sharcholding in the Company, I 6:.125-LS l-v I 0.0 - 96- cI gtt p k It in United Stares Dollars and in irnnrediately availablc lunds to such account or accounts insitle or outside Sicrra Lcone as the Cornpany, each Sharcholdcr antj/or the Finance Partics (as applicablc) may speciry no larcr than ninety (90) days afler thc date of the conclusive agreenrent or detennination ol'the Purchase Pricc (such payment date being the "Buy- Out Date").
.1.
Completion of 'f ransfer 4.1 Subject to paragraph 5 (Failurc to Transfer) of this Sclredule 5 (Translbr on 'l'erminalionl, sinrultancously with thc paytnent of thc Purchasc Pricc under paraenaph 3 (Patmenr of Purchctse Pricc) of this Schedulc 5 (Trunslbr on Terminotion), thc Company shall transGr: 4.1.1 thc Plant (in Good Opcrating Condition); .t.t: 4.1,1 all stocks ofsparc parts and other consumables relating to the Plant; all records relating to thc Plant ol' whalsoever nature including docunrentation rclaling to the Projcct such as those relating to dcsign, opcration manuals, rnaintcnancc manuals.
and equipmcnt data sheots; 4. t.,{ all of the Conrpany's rights, tille, interest, in and derivcd frorn the agrcements lelating to the Plant which are t.alid and subsisting and capable of bcing transfcrred by thc Company to the Covemment, othcr than any agreenrents bclwcen thc Company and any of its Aftiliatcs; and .1.1.5 thc bcnefit ofany lvarranties or gu:uantccs givcn by third partics in respcot ofany propcrty or asscts to bc transt'crred to thc Govcmrncnt or its clcsigncc which arc valid and assignable as at that date.
to thc Govemrnent, or a person dcsignated by thc Covemmcnt.

4.2 4.-l As soon as rcasonably practical after the date an IA Tcrmination Notice is issued.

the Company and the Govemment shall each appoint two (2) people who shall bc rcsponsible for planning and implernenting the transfer undcr this pardgraph 4 ("Handover Comnrittee").

The Cornpany and the Govcmrncnt shall ensurc that thcir appointees have the appropriate tcchnical skill and experience to perform tltis rolc.
Thc I landover Committee shall take all steps as are reasonahly practical to ensure that thc transliJr undcr this paragraph 4 takes placc in accordance with this Agrecurent and cnsure that thc operating lcam nontinatcd by the Covenllncnt to operate the Plant f[om the transfer datc is available at thc Site to rcceivc traitling frorn thc Cornpany (at thc cost and cxponsc of the Govcmmsnt) during thc last threc (3) months ofthe Tcnn (or such shoner pcriod betwcen the date of issue olan IA Tcnnination Nolice to the datc ofthe transfer under this paragraph 4).
I.

'lilu le to 'flansfcr l6::r?5-4-Sl-!

10.0 - 97- blu w K, 4 4l 4,1a4 -86 - 0 0I.\-it-t-Ezazr)r 'rlluoru qlBcJo ,(up lsol ctll tro ptpunoduloJ 'urnuue .rod (%Z) tucc rcd o,n1 snld lunoule Jultutts e ot alqeorlddu aq plno^\ qstq^r clei lsclclur uo8l'l ssn qluotu (1) cuo suectu ,rrlEu ls0Jolul poal8y., :(uollDu!
rDJ uo .DliuD,U) g alnp.tlcs srql ul su0ltluuo(l .L 'Jpeur sr luau,(ed qcrql\ uo etsp eql SuJpnlrut puu o1 dn 'anp sBA tuatuded clep oql uo{ ( oqt u u.tirJ uo rdIsuD.tJ) s clnprqcs sull Jcpun clqudud pue cnP icud osur.l nd predun fue uo elo1 lscJalrrl pac.r8y cqt lE tsciatur,(ed 11uqs luculuralog cql.
lsarJtul llnP,Ja(I '9 '3urlu,tr ur cuBc sorpcg oqt ssolun Surpurq d11e8c1 cg tou lprls 1'1'9 qde.t3r,:ed srqt o'l ltmnsrnd s^uorssn3srp xun 1eq1 pcpr,rord 'Auaduo3 aql ur saJeqs arlt.lo clt:s c.rDr.ls B Jo ,(e,m ,(q Eurpnloul 'luoauu.ri)^oD arll ot po!3JsuP,ll aq ol lueld eql clquuo ot (uortDutrural uo DIsun.tJ) S otnpcq3s srrll ul lno 1as sluourciuur.m eql c.mlJruls3r ol laos o't 'qlJ?.J poo8 ur 'ssnJsrp ol caiSe sorurrd oql fis puB :lupld Jrll ur lsorclur pue cprl lq8rr s1r ;1u3o lccdscr ur luel.uu,o^oD crft Jo rnoluJ ur lsorctur Alunccs e luar8 11uqs ,(ueduro3 xql '(r;r.l,run.tJ ./b uo4aylwo,-S) y. qdw?aed (lll/rr acuupJoo3u ur pctaldruor sr lcJsrrp,rt aqt ptun i';'s :(.tDJ suDrJ .
[o uo4a1duut,l\ g qderiaed jo suorsr.r.o.rd cr]l qlt.rr\ ccunrlduror crnsuc ol sJno^Eapuo clqeuoseeJ lle ,sn lleqs JrploqaJeqs qrec pfle,(uudtuo3 cql :ctu6 tn6-[ng oql [uo{ 'le^e,r\ol I 'alqepunlaJ-uou pue alqere^orall eq lluqs l'S rlduJtuud o1 luensrnd luaruura^orJ oql {q ecud as?qrrnd eq1 yo gueufed uaql '1 qder8ered qtrm 3cucploJre ut lueld aql Jo JaJsuurl cqt stue,re.rd 1'g qder8ucd ur pctsrl acuulsunllrJ B Jl '(uo!r,rutural uo ral'f,u,r,U) S clnpeqJs slrll.Io (r.r.r.rd asotlttn4 .lb tu,tuti(o]l g qdu.riumd qir^l cJueplolce ul luJturuclol) lqt ,{q pretl oq ssolequa^ou lpqs capd asuqJrnd cql tErll pucuep ,(uur rcploqcruqg [tHolu4 aq1 .ro ,(ueduro3 cql uorlJeul Jo uollcv ,(uudruo3 uro{ esue }ou soop Jlastt qJtq/\i cS ',ne1 elqccrlddy !Is Jo :fueduroJ aqt Jo lolllor elqurrosecr aql puo,(aq aourlsuncltJ Jo luana raqlo {ue:o 1uan3 o.rncfeyq etroC e .AlB-l ur e8ueq; u a l.s lfiuoqgy lusuru:cAoD R Jo luJrurrJcloD rtll Jo uorssrulo Jo llp uu l' t s :,(q pcsnec sr .ro uro{ sllnsal a.mlteJ qsns puv (raJ:,;uD.U .lb aotlayluo1) 9, qdcr3urcd qtrm Alduroc o; slrej ,(uuduro-r arll .ll IS "Buy'-Out Date, has the nreaning given to the tenn in paragraph 3.1.2 of this Schcdule 5 ('transJir on Termiutiotr\.
"Equity lRR" rncans thc norninal cquity intemal ratc of rctum.

spcciticd in thc Financial Modcl, which a holdcr ol equity in the Conrpany (including any cquity which has bcen injectcd by way of subordinatcd debt and / or sharcholdcr bans) is.

at thc datc of Financial Closing, lbrccast in thc Financial Modcl to achicvc on its invcstrnent in cquity over thc Term.
")Iajority Shareholder" mcans thc Shareholder who owns more than fifty per cent (50%) ofthc voting rights attachcd to the issucd share capital ofthe Curpany.

"\et Dcbt Outstanding" rneans: (a) all aurounts rcquired to be paid or repaid by thc Company under thc Finance Docurnents as at thc date ol tormination ol this Agrccrncnl" including principal outstanding.
intcrest accrucd but unpaid, prcpaynlent or early tennination penalties and breakage costs; minus the sum ol': (b) the aggregate balance standing 1o the credit ofall bank accounts rnaintaincd by the Company and which are within the control of the Finance Parties (including thc debt servicc reserve.
maintenance rcserve and insurance proccods accounts) other than any account from which it may make distributions to the Shareholders; and (c) all aurounts payablc by the F'inance Partics (or the counterparties to thc intcrest rate or exchange ratc hedging anangements providcd for in the Financc Documcnts) to thc Conlpany in conncction with the carly tcrmination of any applicable hedging arrangements as a result of prtpaymsnt of amounts outstanding under the Finance Documents.
"Purchase Price" mcans Purchasc Pricc A, Purchasc Price B, or Purchasc Pricc C, (as applicable) undcr paragraph I (l\trchuse Price) of this Schedule 5 (Transler on 'fermination).

"Purchgse Price A" mcans an amount cqual to the Nct Dcbt Oulstanding- "Purchase Price B" rncans an amount cqual to the sum (without doublc counting) ot': (a) (b) (c) (d) the Net Dcbt Outstanding; plus fifty (5091,) of the Sharelroldcr Contribution-s; plus the rclevant Termination Costs; plus any outstanding Tanff Paymcnts.
l6ll:5-4-51-!

l{).0 - 99- A)r w $\- \s& "Purchaso Price C" means au anrount equal to the sum (without double counting) ot (a) thc Nct Dcbt Outstanding: plus (b) (c) (d) thc Relurn on Equity; plus thc Shareholder Contributiorrs; plus tlic rclcvant 'lcrmination Costs; plus (c) any outstanding Taritf Paynents.
"Returm on [quity" nrcans an amount equal to the net present value discounted using thc Equity IRR as at thc date of tennination of this Agrecmenl of any tuturc dividonds, intercst and rcpayrnents of loan principal or sharc capital which arc projectcd to bc paid by the Company to the Shareholders in thc Cornpany's Iiinancial Modcl for the pcriod fronr thc Buy-Out Date until the schedulcd cnd of thc Tcnn (cxcluding any Sharcholder Contributions).
"Shsreholder Contributions" nreans thc capital ol the Company attribulable to the Shareholders as at the relcvant datc, including share capital that has not bccn rctumcd to rhc Sharcholdcrs by way of a capital rcduction and sharcholdcr loans tho principal amount of which has not been repaid as at thc relcvant date.
"Termination Cosls" rneans in the case ol a purchase of the Plant, the suln detcnlincd as ofthc Buy-Out Date ofamounts payablc by thc Company in rclation to the tcnnination ofcontracts and subcontracts cntered into by the Company on an ann's-length basis and in accordance with Good Industry Practicc (including thc Projcct Documcnts) ifsuch contracts or subcontracts arc tcmrinatcd.

l6l-U5{-5,r-\ ltl.

() - 100- brY (u *'(- \cp SCTIEDUI-E 6 H.\NDOVtrR [.
l.t t.2 I ..3 t.4 Handover of the Plant Unless the Company is rcquired to transfer the Plant lo the Govemment pursuant k) Clause l5.l I (Bu1'-Out) or this Agreemcnt has been tenrinated prior to Fi*ancial Clrrsing puxuant to Clausc l5.l (Ternination Prior to b'inanciul C/o.rirrg), at any tinre during the last thrce (3) years of the Terrn, the Parties rnay appoint an irrdcpendeut engincer to report on whcthcr thc Plant has bcen rnaintaincd in accordancc with this Agrccmcnt, includin-s any manufacturcrs' recornrnendations.
Any Party may request such appointment by rvritten notice to the others proposing thc narne of a suitable candidate who shall be a member of thc Institution of Mcclianical Enginccm (or thc rclcvant succcssor organisation) (the "Independent Engineer").

Ifthe Parties have not agreed a candidate within fourtcen ( l4) days of that notice.

either Party lnay request the President of the lnstitute of Engineering and Tcchnology in thc Unitcd Kingdorn to sclsct within 30 days of such rcqucst a willing.
availabte and suitably qualified person to be appointed to this role, antl the Partics will bc bound by this dccision.

The Cornpany shall givc all reasonablc acccss to thc Plant and all relcvant rccords for tlrc lndepcndcnt Engineer to prepare his report.

The partics shall usc all rcasonable endeavours to cnsure that the rcport is delivcred to the Parties within ts,cnty-eight (28) days ofthe appointment of thc lndcpendent Enginccr.
Thc Conrpany shall usc all rcasonablc cndcavours to carry out any rvorks required in ordcr to ensure rhat thc Plant is in Cood opcrating Condition as at the Transl'er Datc.
On thc Transl'er l)atc, thc Company shall transfcr lrce and clcar of all licns and cnctunbranccs all of its right, title and interest in: 1.4.1 the Plantl l..l.l I_.1 3 all stocks olsparc parls and othcr consumablcs rclating to thc Plant: all rccords rclating to the Plant of whatsocver nature inctuding documentation rclating to thc Project such as those relating to design.

opcration manuals.

maintenance manuals.
and cquiprnent data sheets; 1.4..1 all of the Company's rights, titlc, intcrcst, in and dcrivcd from thc agTecnrents relating to the Plant rvhich are valid and subsisting and capablc ol bcing transferrcd by the Cornpany to thc Ciovcrnmcnt, other than any agreelncnts betwccn thc Company and any of its Affiliatcs; tl.5 the benelit ofany warranties or guaranlces given by third panies in respcct of arry properly or assels to be transl'erred to the Govenueltt or its designee u,lrich are valid and assignablc as at the Transf'cr Datc; and l6l.t15+5ll^t 10.0 - l0l- b7c tF/ \k\t w ,}fi\ rls {?
n4q -z0t- 0 01^-fS-t-Siii9l .clB(] rcJsuulJ rrll raus pouJd arp ol clBlar lBrll l3rlold aql qll^\ uollrcuuoo ul suorte8rlqo Puc scrllrqurl 'sfqcp ltr) roJ ilqrsuodscr cq IlDtls lusululc^oD ctll a 6.l puB :alBC JcJsusJI eql ol roud porrcd eqt ol elulcJ lcrll lJolbJd eql qlr^\ uotlJeuuoc ur suorleirlqo pue salrlrqell 'stqap slt ro; clqrsuodsa: cq 11uqs,(ueduro3 aqt t 6'r :0D,11.

'1.trry) tZ'81 esnst.)

o; 1cafqns lnrn poqrrel.


sr 1r 'tqnop {uu 3o ccueprons aqt ro:I 6l .cleo JOJSUaJ:L Jrll Jo fuusrc^ruu" lsJU crll purl 3lD(J JcJsuDrI crll ucc/rrliq poucd crll JoJ lrrBld aql ol uollulal ur sloroloJd puc slDnwu oJuauoturPu pur?
uoueJado Jo uorle&dcrd cql ul luaururaAoD orll Uoddns llpqs,(ucdruo) at{l pue :(luctuurc^oD tql Jo JsuJdxc puu lsor eqt tB) ruJcJ rql Jo sqluoul (t) e3Jql lsul aql Euunp ,(uuduro;; cql uo.U Suturu.n st,rrccer pue olls cql lE olqulcle sl alcq JaJsurr{ cr{l tuol.l luuld sql clurodo o1 tuJunucloD oql ,{q pclculurou uruol Suqucdo cq1 pql IltI :cJnsuo pue lucuraer8y slqt qlrvr oJuepJocre ur aculd sclul laJsuell luuld luql lJnsue o1 clquctlcerd {lqeuosuc: arc su sdals tlons lle olel llurls cculurruoJ rc^opuuH crll 'JoJsrrPJI lurld crll Illun qluou D oir,rl usr{t sscl ou leotu llcqs Jruucrorlt puc 'ateq JoJsueJI pclocdxa rql ot roFd sqluorll (11) uclclc uurll Jalel ou Surlaou leqrur lrcrll c^eq lleqs erppuuroJ Ja^opuBH cql til L'l 'clor snll uuojrod o1 acucuodxo pul?
lpl$ lmrullrct clerrdo:dde aql a^?q seeluroddu rcrlt l?rlt crnsua ll?qs tucurtualoC aqt pun ,{uuduro3 eq1 '(.aeuluruoJ rcropuEH,, or$) ta}suetf ruuld tql Surluounldtur puc 3utuuu1d.ro3 c;qrsuodscr eq llsrls orl/$ cldood o,u1 lurocldu qcuc lpqs lucturuclo{) atp ptm duudruo) c$ cl€O rcJsuul.L pclcadxa cqt rroJcq sqluour (Zl) r^la^U.

9l 'uor1puo3 Euqu,:ctlg poog ur pu.lcJsuuJl eq llurls lueld cql_ S'l '(,,roJsuer.J.
lueld,, cql) (uucl eqt.lo dildxr uodn) I SSn Jo (clqelldde se) rcploqereq5 &rrofuyr,l eql :o ducduro;; Jql ol luautruo,\oD crtl .

(q 1uotu,(ed aqt .lo uorluJcprsuoc ur luouruJc^ol) oqt {q pateuirsep uosrad D Jo'lucurruJ^o{) a[[l ol .cle0 riJsuuJl cql rc s€ elquu8rsse cJE r.lolq,r\ (scrtrlod cruansur eqt Surpnlrut) scrcrlotl eruernsur {ue;o lrlauaq ?ql puu surrclo atueJns[t iurptrulrlno Xuu 9f l ll ttltlll tllllltllll JOULE AFRICA .

.
.

So.itlcctlon of lendat requnementt lorop?lmitotloo Serviqes Company Llmited 10/o SCHIDULti 7 o\l'NERSil tP S't'RUCl URlt Ct{,tR'I' Bumbuna ll - Structure Chart Joule Africa Llmited (GBL7) I lloo% I I Joule Bumbuna (Holdingsl Llmited (GBL2) 9ovd ProJectco SELI Hydropower Limited I Sierra Lgono l6lU5-l-53-v10.0F$6 loul e - t03- ?0-r056ril{t 4F\ xt 4@ -nol - 0.01r-tt-l-si;i;9 t I I I I .o/ogL.t lo ll?
'J aql tB euoc-I arals ul ccrnos le alqsxq eq lleqs duEd lrcfoJd {uB ol fuDdnroJ cql dq apsu tcford eql Jo Surcwu!]

aql qlr^r [ollscuuo, ur lsaJelul Jo s'luau{gd (c) -solqeurnsuoS ro luaudrnba '/fuorrrqren 1uB[d lBrlt Jo cJBs iql JoJ pr tsJal uorleraplsuos aql Jo onJu^ Jo lunoun?
rqt PrrE Jednq o$ Jo {lrlu3pl aql Jo Sunu,tr ur tucrurxrAol) sq1 d3t1ou lleqs solqrurnsuoJ ro luauldtnbS 'iftcurtloul,rg lupld qtns Jo rcllcs atp pue pcrlddu 1ou (e)1 qdu8r,^red Jo suorsrno:d aqt Peq uodur uo olqE(Bd uoaq e^€q Plno,r ltrrll xul qf,ns salqnurnsuoC ro luatrdrnbg ',fieurqcuy1 ''tueld qrrrs pcpoduu lcr$ (ped rql uo{ Jolosar uaql Ieur luaunuolo5 cqt 'ouul {uc lE ruaql ol prlaauuoo uosrad {uu :o uos:cd 1eq; ,(q ,uoe-l c.uars unllrAr plos {llucnbasqns sr (s)l qdpJ8ur"d rapun saxel Jo aa{ cuoa'I euors olr.n pruodul urclr {uej1 (q) 'eurl duo tr?
xul {uB.

}o ^luoqtnv oe{ cuoc'I euals tuo{ podxa luanbcsqns roj olqr8rlc luoladuro3 duu,{q pa1co11oc eq llsqs puE s3np Jo saxul rcqlo r(uu puD xel sarlNas puo sPooc 'xlnp uodur .

(ue Jo aa{ '$olJ?,J1ro3qns aqt Jo sJolssrluo.)


hiTo 'sJolrurluoS ldg 'uaplorlilEqs aql'{ueduoJ aqt {q pcuodr.ur cq IlBrls llctord aqlJo dltceduc ao 8ur1nuqre..ro ro Illcedpr Jo luaurc3uer.F 'uollorutsuof, 3ql ul asn roy parmba: are qclq^\ salquurnsuo3 ro lucurdrnbg ',&aurqru6l 1uu14 (uy (e I I I I I I I I I I I I I \OI.I.YX\,.1 ri 3'tit0IH,)s I xu1.
itu;ploqql;,11 -J ----l I tt I I I I I I slElJrlBru i I I pue lueudlnbc ao I lrodxr pue l.rodruy I i I I I I I I I I tl t I L (d) Payments of interest or fees made by the Company to any Finance Party shall be taxable at source in Sicrra Lcone at thc rate of 3.75%.

(e) Payncnts of t'ees nrade by the Company to any person for the provision of oftbhore services shall be taxable at source in Sierra Leone at thc ratc of 3.7 syo.
(0 Any gross dividend paynent made by the Company out of proceeds or profits derived from the Froject shall bc taxablc at source in Sicrra Lconc at thc rate ot 2,5o/o.

(g) Any insurancc prctniurn or fces paid by thc Courpany shall bc taxable at sourcc in Sicrra Lconc at the ratc of 2,5%.
(h) Othsr paymcnts nradc by thc I)rojcct Partics (cxcluding for thc purposes of this paragraph 2 any Subcontractor) in the coune of its busincss in conncction with thc Projcct shall not bc taxablc at sourcc in Sicna Lconc undcr Scctions l17 or 120 of the Incornc Tax Act, 2000 (Wirhholding tax at sourcc) othcr than as spcuifically providcd in this Agrcclncnt.
Any paynrcnrs falling within this pamgraph 2(c) rvhich arc in exccss of $20,000 and which are madc to any pcrson who is rcsidcnt ftir tax puryoscs in Sicrra Lconc shall be notificd in writing to thc Governmcnt such notification idcntifying the rccipicnt of thc rclevant paymcnt and the amount of that paynlcnt.

I I (i) The Gor.cmment agrees that any payments to be l6l.l25-,1-5-l-v I 0.

() - 105- 6lu Iu $$U 4{tr n$nq I .... ----r-l I I I I I xnt alu.rod.ro;; j ll'l\e!r,1_1)!
-90I - 'cttttl ol culll urorJ pcpuauls se seurlaplng Sutclr4 ;ajsuu:1 C3:lO ,t$ puu uouuc^uo3 xBI lcpow cc:Io cqlJo 6 a|Jluv ul lno 1cs scldrout.td cql qll^1 luclsrsuoc lou sl qJlqrt\ euoc'I D.rrols ur lucrutsnpn Sutcud .rc3suer1 u o1 1cc[qns oq llurls tcc[o.r4 cqt qltit\ uoltccuuoc ul scnrud leofo:tr cql ,(q clqu,rtcccr ro clqeded lunoutl oN (q) I I 'yooc Jo olcl D l" clquxq aq urql llutls lcclold cql uo{ oruof,ut uo xul olurodro3'c1zg suorlu.rsdg [elJJcruuroJ eq!
urol.I (sJec( g'tt) sgluoru xrs pue s.teo,( ucautqt 3ut11u.1 rlep cql cJoJoq ro uo pJru3JD ro pc,rtroc.r lcelor.
; or{l uro{ aulorul uo xu1 clerod:oc uror; uotldtuoxc ue ol Prlllluc cq qcss llErls srolrerluoJ hl6,o pue srolcarluoc atra ',(ueduo3 'sJcPlorlcrBqs cqJ (E) ',(lea.r1 lueaalor aqt rapun pcpr,rord sB e nos lc xel.Jo elu pcinpal c ro ou qtr^r sluour,(ud rlJns cl?ru uec [ueduro3 eql luql e$sue o1 {lusseccu acuulsrsse alpaJlsrulupc cqt opr,ro.rd llsr{s tuauura^orJ aql 'auocl uals rllt,itl (&aarJ u) luaursu8e uoqexq alqnop u Eur,ruq uoucrpsunf e ur lueprscr sr oq,r uouad e og 1lucur*.r8y srql 3o suorsraord aql ol lucnsJnd paprao.rd lou sr uorldtuaxe ue r{Jrtl^r ro; pua) ouoa-I Euets ur 6urploqqlrrn ol tcalqns sl rlJulit\ 1cc[o.r4 eqt qll^r uotlrauuoc ur lucrufed I sclBlu [yu4 locfor1 e leql tuctxo orlt oJ (0 euorr eu.
'rs I I ,, ,rrno, rE rlqBxur eq lou l,qs pafo.r4 cqr q,,tr I uonrcuuoc ul ruedruof, eqr or raryUO oqr ,(q aperu | I | I I | I I | (c) The Govcmnrcnt shall not withhold.

reicct or unreasonably delay any clcarances or conscnts in respect of Tax applicd lbr by the Project Parties to the extent that such clcarances or consents are consistent with this Agrcement.

(d) Corporate tax losscs can be carried forward lor a pcriod of fiftccn ycars ( 15) from the Commercial Operations Date.
Thc Sharcholdcrs and thc Company shall cach bc subjcct to I I tax in Sicrra Leonc on any capital gain rcaliscd in rclation I Ito tne ero.icct.
including tlrc sale of aU or part of thc busincss or the sharcs ofthc Company or a Sharcholdcr at thc followins ratcs: I I I I 4 Capital gains I rinancial Closing; I n, 30% frorn thc Signing Date up to and includin8 I , 20o/o fromFinancial Closing up to and including thc Co,nr"r"ial Opcrations Datc; anrt I I (S) l0% fronr the Commercial C)perations [)ate up to and including thc sccond arniversary of the Commcrcial Opcrations Datc.
From the second anniversary of the Commercial Operations Date, thc Shareholders and the Company shall not bc subject to tax in Sierra Leone on any capital gain realised in relation to the Project, irrcluding the sale of all or part oi the busincss or the sharcs of the Company or a I | I I I I I Shareholder.

The Finance Parties shall not bc subject to tit( in Siena &r- I - 107- tr *,(/ k*p s 4q 1tt -ri0 t - 0!

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ra,* -t rt^"rr t-,,,.r^*;m I unqt.raqto; scxnr lleJo ee+'sarnpacord stuolmo fuc I au,pn1.u, 'uxc ro,$luaJo pod aqt q8norqt passcco:d I | ,(lrduord cq ol curcs cqt jo .
(uu .roJ pue ctues rl{l i ur,^ onur"uuo, ur (rolra,p:o esi(oldrue rcd oFrqa,r I rorotu cuo ol dn Eurp.rccxa lou lnq Surpnlcur) strollc I puu Fuoud qtns rro^\ ro crucprsrr i lRtou".nnu por:ctt rcql Jo Sutpuc cr11 3o uotludtctlun I lJo ro EurmolloJ uodxc o1 pue 'sodtur ro olut I lur auuq or pollrtuc rq lyuqs 1cc[or6 cqt qlr.n uouJruuo.
't I I lur aur+rom (scruud eruBulJ (uo 9 qde:5ere,t i ju ,"ro..lrnd cqr roj Surpnlcxc) scru,d lr<tford I l.,qr cqr 3o scc(oldura pue stuqlnsuoc 'srolrcrp cql tu) | I i I I i I I I I I I I salugludxg t I I I I I I I I I I I , I 'IISSVN ol lscrqns rq lou llurls suosrid qJns or slusur,(Dd puu cuoc'l BrJcls ur scsod.lnd xul JoJ lucpiscj lou 3Ju orl^r pup ouoel eJJJIS ueql rcqlo ,(4unoc u 3o suizrllJ eJu oq^\ srruod pc[ord eql Jo scc{oldruo lgnop 1o ccuupro^e ctp .rog 'suuedulof, lr.rcprsal-uou lo uczurJ-uou Jo cuoc'I u,ucls ul snlBls xel truss crll q1ll sacfolduJ o1 pcrlddr: cll,l orll 'rf,,r\ol Jr 'ro saruuduroc lcJol icqto Jo cuoc"l Brrors ur sruels xnl curss orll q1r* sccfo;druc o1 pcrlddu tlet tulas cql ueqt .rcq8rq ou olcl B le ouoJui lerlt uo pcxul oq lleqs puB ouorul peA!3JJr i(llsrol rsql uo ,(1uo cuorl eucls ur xu1 o1 1cofqns eg ll?qs cuoc'l Errots ul scso<Lnd xBI roJ lucprs€J lou JJE or.l^\ puu cuoar'I eJlJts uutll Jcr[o ,fu1unoc u 1o suczlllf, c.te oqrn 1tc[or4 cql qp,( uollrcuuoo ut Sutyo.tr (s.rua(l Jf,ueull ,{uu E t;du?ued srqt3o scsod:nd aqt .ro.1 Surpnlcxo) s3rued 1cc[o:.1 cql 1o scei(o1dur..1 uo!tBxEl acloldurg I rretord aqr or uo*eral ur I I (posllec:un ro paslleal rcrfloq/t\) uleE letldec,(ue uo auoc"l | | s I | I | 0.5o of the value ol' rhe applicablc goods), ^t providcd that this paragraph shall not apply to any import or export ol' motor vehicles by any consultant.
(i) If any personal or household efl'ect bmught into the country by a person liee of Taxes under paragraph 6(a) is subsequently sold within Sierra Leone by that person or any person connected to them, the Govemment may then rccover from the buyer of such personal or household ellect such Tax that rvould have been payablc on import had the provisions of paragraph 6(a) not applied provided that thc seller of such pcrsonal or household ctlect shall notify the Govcmmcnt in writing of the identity of the buyer and the amount or value of the consideration received for the sale of that personal or household effect.
0) For thc avoidancc of doubt all othcr goods which arc importcd or cxportcd by the dircctors, consultants and cmployces of thc Proicct Partics (and thc childrcn.

dcpcndants, spouscs and civil partncrs of cach of thc tbregoing) and which do not fall undcr paragraph 6(a) shall bc subjcct to such Taxcs as arc applicablc from time to timc under thc taw of Sicrra Leone and such administrative practiscs as arc adoptcd by thc Govcmrncnt for thc processing of such goods.
7 I I I I I Goods and Scn iccs (k) Subjccl to paragraph 7(d) bcbu.
: Tax I (1) where an Exernpt Prirjcct Party is the rccipicnt l6l.1l5''1.ar-\ ll,1) - 109- I 6r?/ ID ${- \sp of a taxable supply of Plant, Machincry, Equipment or Consumables for Goods and Serviccs Tax purposes under the Law of Sierra Leone which arc rcquircd for usc in the construction, cnhancelnent of capacity or ovcrhauling of capacity or (in rcspcct ol a receipt of a taxable supply of Consunrables only) the operation of the Projcct; or (21 whcre a Non Rcsident Excrnpt Pmject party is the recipient of a taxable supply of scrvices in connection with the Project, then thc supplicr making that supply must trcat thar supply as if it wcre a zcro-rated supply for Goods and Scrviccs Tax purposcs and all conscqucnccs will follow for the supplier and the rclcvant Excmpt Projcct Party as if it werc such a zcro-ratcd supply.
Any taxablc supply which a Non Rcsidcnt Excmpt Projcct Pany is trcatcd as making by virtuc of bcing a recipicnt of a supply of irnportcd scn iccs in conncction rvith thc Projcct shall be trcatcd as if it wcrc a zcro ratcd supply lor Goods and Scrvices Tax purposes.

ln this paragraph (7), thc cxprcssions "input tax", "taxablc supply" and "zcro-ratcd" shall have thc samc mcaning as thcy do in the Goods and Ssn,iccs Tax Act, 2009.
(l) Notwithstanding paragraph 7(a) abovc, if and to the cxtcnt that an Excmpt Project Party incurs any amounl of input tax {othcr than input tax lalling 162125-1-Jl-v 10.0 - ilo- 70-10568t4t 6r,/ Alz {xY.w d$i' $il 19'.

?9 llu9s0i-01 -til - 0 0I^-IS-FCZr'igI I uoN,, pu?
sJolJpJluotqns crn puu 'srolJoJluoS w?o 'srotruJluo] Jdll rrll 'srcploqeruqs cql ',(uuduto3 e$ i(1uo scstrduo:r .,scr u.I 1cc[o.r; 1durcxg,, 1 qde.r8ered s1qt3o sosodrn4 cql:og (o) 'euoc'I urJars.lo s^\ul orll Jcpun uorlsod le.tcucE aql qlta\ cf,uuplof,cu ut xEI sccrrucs pue spoo{) ol lcclqns lq 11uqs csuqcrnd :o podurr qlns 'uotldurcxc ue opr,rord lou sarop (u)l qdBJBt:lBd oroq^1 tgnop Jo c"uEprolr: crg J(U pue d;ddn peJlsur lleqs (e)1 qdu.r8u.red.lo suorsraotd crlt cJJrl^\ 'scJlA:cs ro spoo8 ,(ue yo asuqcrnd lo uorpl-rodurr crp uo pnsodrur xuJ sccr^lrs pue spooD 1o looclscr ur ,(lddu lou llerls croqe (e)4 qdu8e.re4 (u) ',(9e.1 lcafo.r4 tuql ,{q epeur luaw(ed Fuu uorg ecrnos lu plcqrllt^\ eq o1 parrnbar sl qclq/{ cuoo.l uuor5 ,(q pasodul xu1 i(ue ro cuoal e.ull5 ur [ue,1 1co[or4 ldurexg luql ,(q e1qu,(ed pur cnp sr r,.lrul/h xnJ.
raqlo fuu lsureie JJG.las oq clqrssod 1uo1xa lsolptJ aql ot puc dlctBtplruurr IIBrls punJ xul lndur predun jo lunottrc i(uu .llulu crrlq rlluou lnoJ lerll ultllr^\ punJcr xc1 lndur cqt ,{ed lou saop,$uoqlny lualatluro3 eqlJI 'punja: oql Surlscnbar ,(pu; 1cs[or.1 ldur.xA lsql Jo srpuour rnoJ urqlr/r\ (q)1 qttur8r,.red rapun ,{1.r0d tlcfo:4 ldnrcx3 uB ol anp punreJ xe] tndur {ur ,{ed 11eqs igrroqtny luoloduro; cq1 (ru) 'slunoruu qcns lle roJ 1;n3 ur ,(uu6 lJaloJd tdujox3 luulalor cqt punjc: f pduro.ld .tsonbu s,i(gu4 tccfor.l tdurcx3 teql uo 'llsrts &!loqn\r 1ue1adr.uo3 cql '1cclo.r4 aqt qlLA uorlJruuoJ ur auoa.l eJJatS.lo s./r\Rl aql rcpun pcsodurr (^\oloq (p)t qdu:iu_rud urqum I Residcnt F,xettlpt Project Parties" comprises only Exempt lrrojcct Parties that arc not resident for Tax purposes in Sierra Lcone and which do not have a pennanent cstablishrnent in Sierra Leone.
I I (p) Subjcct to paragraph 8(b) bclow, nonc of rhe I;inancc Partics nor ths Sharcholdcrs shall bc, or bc dccmcd to bc, rcsidcnt, domicilcd or carrying on busincss (rvhethcr through a pcrmanent cstablishrncnt or otherwisc) in Sicrra Lconc solely by rcason of thc cxecution, delivcry, pcrfbrmance or cnforccmcnt of thc Projc{t Documcnts or the Financc Documcnts or in respect of the carrying out of any pan of the Projcct.
No Subcontractor or FlpC Contractor or O&M Conractor who would not othcrwise be rcsidcnt, domiciled or carrying on busincss through a penransnt cstablishmcnt in Sicrra Lconc shall bc resident, domicilcd or carrying on busincss through a pennancnt establishrnent in Sicrra Lconc solcly by rca,son of work which thcy carry on in conncction with thc Projcct).
(q) Paragraph 8(a) shall not apply to rcmove any liability lirr NASSIT, whcrc thc provisions of paragraph 5 shall instead apply, or act to cxtcnd the cxclusion sct out in paragraph l(a) or 7(a) in rcspect of any tax on import or Goods and Serviccs Tax (rcspctivcly).
'Ihe Parties to this A$eemcnt hcreby acknowledgc and agrcc that the cxcnrptions fiom tax as sct out in this Schcdule havc becn provided solely for the devclopment, l( llcsideur:c I l0 Prrrposc t_ l6::125{-J-l-r It).0 - lt2- t0-10_r6fl.ll (*/, uy W- I I il tt No douhlc rc{:0\'cr}' and no misusc provisions I I I I tt I opcration and f'unding ol'the Project and shall not apply tbr I I I any other p[rpose or in relation to any other activity and no tcrm of this AgTeenrcnt shall rcstrict or prcvent tltc (iovernment fionr excrcising any powers ii nray have from time lo time to investigate and ensure thc exemptions are being applied in accordance rvitlr this Schcdule.
(a) To thc cxtcnt lhat claims can bc madc (in rcspcct of thc samc facts or circumstanccs) by lhe Cornpany both for brcach of the Covernmcnt's agrccmcnt in this Schcdulc and also undcr clausc 9.7 lChange in l,ar or Tux) of thc I'owcr Purchasc Agreemcnt (ignoring any dc minimis thrcshold on such claims whcn dctcrmining whcther a claim under clause 9.7 lChange in Lav or 7'a-r ) of thc Powcr Purchase Agrcemcnt can bc madc), thcn clairns sannot bc rnadc for brcach of this Schcdulc to the cxlent that thc Company would havc bcen unablc to recovcr under clausc 9.7 (Change in l.a'n' or 7'ax) of the Powcr Purchasc Agrcement solcly by virluc of the rpplicablc dc minirnis thrcshold lhat applics to such claim.
(b) ln rclation to paragraph 7(b) abovc (payncnt in respcct of Coods and Scrvices Tari) no paymcnt shall be rnadc to thc cxtcnt that thc rclevant Projcct Parly has alrcady rccovcrcd an amount rcprcscnting or in rcspcct of such input tax fi'om a Compctcnt Authority.
lf paymcnt is madc undcr paragraph 7(b) drc Projcct Panics agrcc to waive thcir rights to claim lbr or in rcspect ol' such amounts undcr Law l6!.125J-51-rl(,.0 - ll-3- 7tt-10-\o{i I .l I aLrl k"- $#, I I tt I I I tt I I I I I I I I tt I tt I I I I I I I I l6:l:a-1-5.r-v lo.

(l I I I I I I I I I I I I I I and agrcc not to clainr l'or such arnounts under Law.
(c) Thc Cornpany shall cnsurc that, through each EpC Contract, each O&M Contract, cach FlpC Contractor and each O&M Contractor agree: (3) to act in accordance wirlr and be bound bV the provisions ofparagraphs l(b), ll(b) and ll(d) of this Schedule; and I | I I (4) procure that thc Subcontractors arc bound undcr thc tcrrns of thcir contracts with cach I EPC Contractor and O&M Contractor or othcr Subcontractors (as applicablc) to act in I accorrlance rvith and bc bound by thc I provisions of paragraphs t(b).
I l(b) and f I(d) of this Schcdulc.

| I I and thc Ct>rnpany shall use all rcasonablc cndeavours to cnforcc such obligations and rcquirc I cach F,PC Contractor, cach O&M Contracror, and Subconractors (as applictrblc) to cnforcc such ohligations, and shall usc all rcasonabl" "nd"ouour.
I to givc thc Govcmmcnl dircct righrs to cnfor"c such I I I I obligarions agninst cach EPC Contracror on.t O&M Contructor "o"n I I (d) Without prcjudicc to paragraphs (a), (b) and (c) abovc or to Clause 18.20 (rVo douhle recover.v\ or Clausc 19.
I 7(iVo Double Recor.ery) of the Powcr Purchase Agrecment), in respect of any liability which rnay givc risc to a right of a Project Party to recover damages or obtain paymcnt, rcimburscment, restitution or indcmnity (including through changes b?- K $r -l14- .ras ,\\ 40 -18€ -sll- 0 0t^-fs-t-sztiql '000'00e$Sn (,(ye4 lcolo:4 teql {g sctnlleJ qrns lle Jo atufc.rSSc oqt Surcq) cteBc.rEBB ur spoorxo parldde i(11ccuoc uecq (clnpcrl3s srqt Xq pculporu sp) crl1 pBrl ^tr,..1 pJsscssu uccq o,^Br{ plnoqs qrrqm pue passJsse lou su.,$ lBql euocl ollols ur xelJo tunorue cqt (Z) puc :(ctnpcqls srql fq pcgrpour se) xe1.
o1 Suqelor ,r\u'I aql qlrm flduro: ol pollrJ purl ,(ued lccfo.rd eql lgql ale^ru s?m sluutlnsuos ro scofoltluro Jo stc3uJo 'slolJcJrp laruloJ ro gucscrd rrorp 3o i(uc ro f1-reg 1ri[oJd qins (l) :puE'lusrxue^of) Jql Jo luclucrrSu uc11um sscrdxc ,ql rlll^r usql rcq]o .

(olnpoqcs srql ,{q pclppotu su) xu1 o1 Eurlelar crll qtrm i(ldruoc ol pcllEJ o^eq ol punoJ sr fpr6 lccfor.
; E ler.ll lua^c cql ul 'aAEr{ /(uur luautujJ^oD cql luql scrparuoJ puu slq8u rcqlo Auu ol actpnFrd lnoqll1\ (a) ^\u.I I I esli^ aatA pue 'IlSurploJJe pcenp sl Jcgsur curus ctlt 3o loedsar ul clupcrlJs s!ql ot luen$nd olqudud lunonru ,(ue'clnpoqcs srql ur pcprrro.ld csoq; usql raqto slqiu ol luensjnd urrelc e.;o {um Ag pcgsrles sr ,(t111qu11 qrns lurll tualxc aql ol (g) :cJuo u8ql cJorrr laur cq 11eqs &rJrqurl qons ou (9) puu :(csr^ueqlo Jo rtpun slq8r: |ueuncoq lcafor6 fue .tuauroJflv ^\B'I sn{l rcpun raqtoqar) (seE:eq3 ,(1rcudr3 aqr ur .fis $ Itl89s'01-ll!
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(6) '(elqocc:o3ua (11u8c1 I I 1ou lo raqlcqn) suollresue4 Jo s3ucs Jo uollrcsuutl 'cucqcs'SurpuelsJepun'Iurr.ueel8u,(ur sepnlcur ,,slucure8uc!8,, qde.rSured slq] ul .olul prJolua ucoq lou puq sluetuaiuelu ollt ..1!
sa pcryddn aq llutls clnpaq.s sull puB trcJJs lur.Jl o^crqse ol tou arB slueurcEuur:e oql ucrll .olnpaqcs srqt 3o suorsurold atll ulo{ luauaq ol pallllue cq'sluauc8uuxe qJns luasqu 'lou plno^l rprq^r suorl3esueJl ro lou plno^\ oqm suosrcd o; :oqllJ alnpeqrs srql;o suorsrnord eql Jo lurucq eqt ;o cdocs aql Surpualxo jo uotluclul eqt qlr/( olur poreluc cJu sluetua8uuuu lerl'l luc^c orll ul (,) 'lueultue^oc eql uo lloJ crue$ur lsrg eql ur lleqs serlddu (c)11 qderEae4 srqt tBrll Eurqsrlqegsc ur 3oord Jo ucprnq aqt (e)ll qde.rEuu.l srrll .lo suolst^o:d aqt acloJuc ot seqst^r luautlucloD crll Jr lurll oipclmoulce scruu4 aqt '(a)11 qdaEered srqr Jo uouuredo cr{l poraEiq leql arnlleJ eqlJo elsp aqt uor.l lr.J.lo qtt,tr qder8erud slr.ll Jo suoisllold eqt tuo.rl tuauaq ol eseec llBqs fue6 rrofor1 luqt uaqt I I $ --\s rI Il:n"(r!r)t_0i -LTI - i) l)l:r-ti1-Si.i1)l cslauf,r{1o Jo Jo.}
clgr!,^uodseJ sr q)tq^\ ,{po<1 ,tun pur?

.tu.ulrualo{) aqt susru $anpoqlnv luolcdruo3 clnprqrs srql ul suorl!uLlco ti tt tt i l i 'lUf,UlU.lCAOrJ arp ,(q rdrc:ru rc13e s:du6 sscursng (67) .
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spooS 'sJJnlspooJ spnlJur lou scop salqeunsuoJ 'o^(xlc (q) puc (p) squul Surpuqsqlr^uou 'leq!

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oqt Suuud d puB Surlpuuq 'Surssaco.rd 'Burlr.Je ur dueduo3 cq {q pasn spooi 8ur,tro11og cql fluo suuau solquurnsuoJ sJcsl^p8 lcuorsscg.o:d lqnop.+o JJuppro^c crll JoJ 'Sulpnlcxe lnq slnulcd enssr o; .rcmod crll qltm ,{tuoqlnu ,(ue puu /ftuoqlnv enualcu lguortoN oql 'srxolsn) 'scrpoq [:o1n1u1s 'sIf,unoc lEcol 'uorlelnull lnoqlrm 'Surpnlcur lueurac:3y srql Jcpun suooe8rlqo s.luaururaAoC orp Jo uoqutucualdur atll ur pauoruoc I I I I I I I I I I tt I I I I I I I I I I I I I I I I I I I I I I I ,t\ 4\' (t 4j titi9srlr0!
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01)l^-t'S-t"Sa€iS I :(rJlu^l alqBuodJo troltrnpoJd aql Surpnlcur) uorteln lal pcl?rcoss?
puu sarlr[ceJ o8eJols pue lueulBal rclB^\ (3) :ajemuos pu8 slallold 'sJcluud'sJelnduroc'lucurdrnbc suotlBf,tunuuJot 'sr^ucli^(s uotluctunuuoJ .a_rnlltury 'stJUJo prjD uonBpoururocrD pasuaulaluoc puu pcreruqsJ-ald luatudrnba dueJ (l) I iluorudrnbe uorlcalortl a:11 pcxu pup clqour 'lucurdrnbo leclpcru puu inos (c) istq8rl poog pue sleupd tclos 'lucurdrnbc Surlnqr4srp puu Surlucua8 ;carod (p) :suorlerxlo lraql o1 drul;lJue puc ur pcsn s^alJtqc^ pue luourdrnbc uottnqulslp (f,) I I is:cuuojsulll Surpnlcut'luEId uorturcucS (q) :scrtrprql ,ftu11rcuu I puu 1celol.1 iql JoJ slBucleul uollorulsuoc (B) :3u ro8c.lo.1 aql .lo /ftrlulouai aql ol cJrpnfard lnoqlm .flurpnlcur lJofoJd crll .Jo atnlJ[rlsu{ur aql Sururelurutu pur: 3ur:rudar pue 'lucurdrnho pue lcuuosled Suruocisue.rt 'romod Surcnpo.rd '1cafor.1 lll Jo aJnlJrulsc.gul aql Euuudard puo Eurlpueq 'Eurssarorcl .EuDJcrc ur ,(ueduoS atll ,{q pasn luatudrnbo pue lue1d i(.raurqreu Ile suu.ut lucurdlnbg .IJou!rlrElt .tucld 6002 'lcv xPJ sccr^ras puu spoorJ (h) scwagc trcatrlent and storage facilities and associatcd reticulation; (i) workshop cquipment including tools sets, working benchcs.
lifting cquiprncnr, oxy- acetylene sets.

welding nrachines, comprcssol.s, lathcs, nrilling machines, cutting machines, grindcrs.

oxy-acetylcue bottles and contpressors; and () fuel storagc, convcying, pumps, piping handling and packaging cquiprncnt; Project Party tncans thc Company.

thc Sponsor, each EPC Contractor, cach O&M Contractor; cach Subcontmctor and thc [.
'inancc Partics: Subcontractor mcans any pcrson {including any consultant cnginr"rcr, adviscr or providcr of i construclion scrviccs): I I (a) who is cngagcd or appointcd by a Projccr PanV to providc scrviccs in connection with lhc Projcct: anrl (b) in rcspect of whonr thc Govcmmcnt has rcccived notification under paragraph l2(a) abovc and in rcspect of whom no notification undcr paragraph l2(b) above has heen rcceivcd: and (c) whose contract (by virtue of which they fall within the definition of Projcct Partiqs) is consistent with and conlonns with thc retluirements sct out in paragraph ll(c) of this I I I 162125-4-JJ-!
10.0 - tz(t- 70-10-i68 I { r I I I I I I l./' L (F \s \\ I I I I i I I I Schedule, provided thal, without prejudice to thc provisions of this Schcdule, an cntity shall only be canable of being a Subcontractor for thc purposcs of this Schcdulc in rcspcct of goods and services listed in thc Excnrpt List providcd by thc Conrpany to tlre (;ovcmrnent in rcspect ofthat cntity.

Surviving 'fax Provisions means tlrc provisions at paragraplrs l(b) and ll ofSchedule.
Tax includcs all prcsent and futurc taxcs, charges, imposts, dutics, lcvics, customs duties, cxcisc, dctuctions or withholdings of any kind whatsocvct or any othcr tax or chargc having the cffcct of a tax, or any amount payablc on account of or as sccurity for any of the forcgoing, by whomsocvcr on whomsocvcr and whercvcr imposcd, lcvicd.
collcctcd, withhcld or asscsscd, togcther with any pcnalties, additions, fines, surchargcs or intcrcst rclating thercto and Taxes and Taxation shall be construcd accordingly.

General interprctation provisions: The term plant whcn used in this Schcdule includes prcfabricated fixtures and structures, as well as spccial purpose vehicles such as utility vchiclcs, scissor lifls, service vehicles, personnel can'iers.

fuel tnrcks and rescue vehicles and water trucks.


It Thc tcnl machinery mcans machincry consisting of a cornbination of rnoving parts and mcchanical v K $ - t2t- l4 ,5 Not uscd Disputcs relating to Tax clemcnts, which nray be put in motion by physical or nrechanical fbrcc.

A person shall be deenred to be connc.cted with anothcr il that person is connccted with anotlrer within thc meaning of section I I 22 of thc Corpomtion 'l"ax Act 2010, or, in thc casc ol an individual.
any person connected witlr hirn within the rneaning of sections 252 to 254 of thc Companies Act 20O6.

(k) Any disputc arising in rclation to the applicalion of this Schodulc I (Txation\ shall be dcalt with as a Dispute under Clause l6 (Resolution of Disputesl of I this Agrccmcnt.
(t) If the Cornpany disputes any claim or assertion that paragraph I I of this Schcdule 8 ( Ia.ratrorr ) applies, the relcvant provision in paragraph ll of this Schcdule 8 (Ta.rotion\ shall not be effectivc unless and until thc datc any dispute rclating to such claim or assertion is resolved.
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'r^ ., DAY O AUGUST 2OT7 )[t covERI\rl-{Er{T oTTIIE LIC OF SIERRA LEONE and $nr,.r rrvonoPolvER LrMrrED I and (HOLDINGS) LIVtrTED and ENERGY SER\IICES COMPANYLIMITED rilll \ri Glasl 4- -tr( t o IMPLEMENTATION AGREEI\,IENT REI.ATING TO BUMBT'NAUPROIECT 'rourvl - rocttt_ ltt--__ _ lecttt rh___ r 1!

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,:El?f I I C tJ,n & t*S 3 no cl6I Submitted fc regiatration by: l.eL!
rs ?le ADVISORY TANNER RED LION BTIILDING, lST FLOOR 65 SIAKASTEVENS STREET FREETOWN SIERRALEONE SOLICITORS DATED THE 4TH DAY OFAUGUST 2M7 GOVERNMENT OFTIIE REPT'BLIC OF SIERRALEONE and SELI HYDROPOItrER LII\IITED and IOITLE BITMBIINA (IIOLDINGS) LII,IITED ard EI{ERGY SBVICES COMPAI{Y LIMITED I ,i!-Ai L-.. AGREEMENT RELIIITNGTO BTJMBI'NAII PROIECT Sobmffied fc rcgistldim t5l: ut.1, BED LION BI'ILDING, 15I FIOOR 65 SIAXA STEVEhIS STREET F?EETOWN SIERRALEONE SOLICITORS I I I 1 I .l I I I I I I , I l f r { t { r { t f r. f ut u I i. I t t I I I ltlrl'tt\( I t ll t I I 1l+{.
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