BUT ONLY TO THE EXTENT THAT THE COFACE INSURANCE POLICY HAS NOT BEEN
ISSUED BY COFACE FOR A REASON NOT ATTRIBUTABLE TO A BREACH BY THE BORROWER OF
THE TERMS OF THE COFACE INSURANCE POLICY.
5.
UTILISATION
5.1
DELIVERY OF A UTILISATION REQUEST
(A)
THE BORROWER MAY UTILISE A FACILITY BY
DELIVERY TO THE COFACE AGENT OF A DULY COMPLETED UTILISATION REQUEST NOT LATER
THAN 11:00 A.M. (PARIS TIME) TEN (10) BUSINESS DAYS PRIOR TO THE PROPOSED
UTILISATION DATE.
(B)
EACH UTILISATION REQUEST SHALL INSTRUCT THE
COFACE AGENT TO REMIT THE AMOUNT UTILISED ON BEHALF OF THE BORROWER TO:
(I)
THE SUPPLIER AND/OR THE LAUNCH SERVICES
PROVIDER'S ACCOUNT, AS THE CASE MAY BE, AS PART OF THE PAYMENT OF THE RELEVANT
CONTRACT PRICE; OR
(II)
IN RELATION TO A REIMBURSEMENT TO THE
BORROWER UNDER FACILITY A, SUCH ACCOUNT AS DIRECTED BY THE BORROWER IN THE
UTILISATION REQUEST.
5.2
BORROWER'S MANDATE
(A)
THE BORROWER IRREVOCABLY AUTHORISES AND
MANDATES THE COFACE AGENT (ON ITS BEHALF AND FOR ITS ACCOUNT):
(I)
IN THE CASE OF FACILITY A:
(A)
TO PAY THE SUPPLIER WITH RESPECT TO ANY
ELIGIBLE AMOUNT UNDER THE SATELLITE CONSTRUCTION CONTRACT, UPON PRESENTATION OF
THE
53
DOCUMENTS SET OUT IN SCHEDULE 11 (PAYMENT TERMS);
(B)
TO REIMBURSE THE BORROWER FOR ANY PAYMENTS IN
RESPECT OF ELIGIBLE GOODS AND SERVICES UNDER THE SATELLITE CONSTRUCTION CONTRACT
WHICH EXCEED FIFTEEN PER CENT. (15%) OF THE SATELLITE CONSTRUCTION CONTRACT'S
CONTRACT PRICE; AND
(C)
TO PAY TO THE COFACE AGENT THE COFACE
INSURANCE PREMIA;
(II)
IN THE CASE OF FACILITY B:
(A)
TO PAY THE LAUNCH SERVICES PROVIDER WITH
RESPECT TO ANY ELIGIBLE AMOUNT UNDER THE LAUNCH SERVICES CONTRACT, UPON
PRESENTATION OF THE DOCUMENTS SET OUT IN SCHEDULE 11 (PAYMENT TERMS); AND
(B)
TO PAY TO THE COFACE AGENT THE COFACE
INSURANCE PREMIA.
(B)
THIS MANDATE IS IRREVOCABLE.
(C)
THE PAYMENT TERMS SET OUT IN SCHEDULE 11
(PAYMENT TERMS) MAY ONLY BE AMENDED WITH THE PRIOR WRITTEN CONSENT OF THE COFACE
AGENT (ACTING ON THE INSTRUCTIONS OF ALL THE LENDERS).
(D)
THE BORROWER AGREES THAT ANY UTILISATION
MADE UNDER OR PURSUANT TO THIS CLAUSE 5 SHALL BE DEEMED TO HAVE BEEN MADE TO OR
FOR THE BENEFIT OF THE BORROWER AND THE BORROWER WAIVES ALL RIGHTS OF PROTEST IT
MAY HAVE TO THE CONTRARY.
5.3
EXAMINATION OF DOCUMENTS
(A)
THE COFACE AGENT'S ROLE IN EXAMINING THE
DOCUMENTS SET OUT IN SCHEDULE 11 (PAYMENT TERMS) SHALL BE LIMITED TO VERIFYING
THAT SUCH DOCUMENTS APPEAR ON THEIR FACE TO BE WHAT IS INDICATED IN SUCH
SCHEDULE 11 (PAYMENT TERMS) AND THE COFACE AGENT SHALL BEAR NO OTHER
RESPONSIBILITY IN CONNECTION THEREOF.
SUCH ROLE SHALL BE CONSTRUED IN
ACCORDANCE WITH THE TERMS OF ARTICLE 14 OF THE UNIFORM CUSTOMS AND PRACTICE FOR
DOCUMENTARY CREDITS OF THE INTERNATIONAL CHAMBER OF COMMERCE 2007 REVISION
(PUBLICATION 600).
(B)
THE COFACE AGENT AND THE LENDERS SHALL NOT
BE RESPONSIBLE FOR ANY DELAY IN MAKING AVAILABLE ANY LOANS RESULTING FROM ANY
REQUIREMENT FOR THE DELIVERY OF FURTHER INFORMATION OR DOCUMENTS REQUIRED BY THE