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EXHIBIT 10.27

			
	

FIFTH AMENDED AND RESTATED 
PRE-EXPORT FINANCING AGREEMENT 
among
BUNGE AÇÚCAR E BIOENERGIA S.A. (CURRENT NAME OF USINA MOEMA AÇÚCAR E ÁLCOOL S.A.), USINA GUARIROBA LTDA., PEDRO AFONSO AÇÚCAR & BIOENERGIA LTDA., USINA ITAPAGIPE AÇÚCAR E ÁLCOOL LTDA., USINA FRUTAL AÇÚCAR E ÁLCOOL LTDA., AGROINDUSTRIAL SANTA JULIANA LTDA., USINA OUROESTE AÇÚCAR E ÁLCOOL LTDA., BP BIOENERGIA TROPICAL S.A., BP BIOENERGIA ITUIUTABA LTDA. and BP BIOENERGIA ITUMBIARA S.A.
as the Pre-Export Borrowers,
The Pre-Export Lenders from Time to Time Parties Hereto,
SUMITOMO MITSUI BANKING CORPORATION,
as Pre-Export Administrative Agent 
and 
BANCO RABOBANK INTERNATIONAL BRASIL S.A.,
as Pre-Export Collateral Agent 
Dated as of November 6, 2020
Sumitomo Mitsui Banking Corporation, ABN AMRO Bank N.V. and ING Bank N.V.
as Pre-Export Joint Lead Arrangers and Pre-Export Bookrunners

Coöperatieve Rabobank U.A.,
as Pre-Export Senior Mandated Lead Arranger

TABLE OF CONTENTS
Page
						
	SECTION 1.    DEFINITIONS
	1

	1.1    Defined Terms
	1

	1.2    Other Definitional Provisions
	29

	SECTION 2.    AMOUNT AND TERMS OF TERM LOANS
	31

	2.1    Pre-Export Commitments; Term Loans
	31

	2.2    Procedure for Pre-Export Loan Borrowing
	31

	2.3    Pre-Export Commitment Fees, etc
	32

	2.4    Termination or Reduction of Pre-Export Commitments
	32

	2.5    Prepayments
	33

	2.6    Repayment
	35

	2.7    Continuation of Interest Period
	38

	2.8    Interest Rates and Payment Dates
	38

	2.9    Computation of Interest and Fees
	38

	2.10    Inability to Determine Interest Rate
	38

	2.11    Pro Rata Treatment and Payments
	39

	2.12    Requirements of Law
	41

	2.13    Taxes
	42

	2.14    Indemnity
	45

	2.15    Change of Lending Office
	46

	2.16    Illegality
	46

	2.17    Replacement of Pre-Export Lenders
	47

	2.18    Judgment Currency
	48

	2.19    Notes; Bank Records
	48

	2.20    Extension Option
	48

	SECTION 3.    REPRESENTATIONS AND WARRANTIES
	51

	3.1    No Change
	51

	3.2    Existence; Compliance with Law
	52

	3.3    Power; Authorization; Enforceable Obligations
	52

	3.4    No Legal Bar
	53

	3.5    Litigation
	53

	3.6    No Default
	53

	3.7    Ownership of Property; Liens; Insurance
	53

	3.8    Taxes
	53

	3.9    Federal Regulations
	53

	3.10    Investment Company Act; Other Regulations
	54

	3.11    Subsidiaries
	54

	3.12    Use of Proceeds
	54

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	3.13    Solvency
	54

	3.14    Financial Condition
	54

	3.15    Disclosure
	54

	3.16    Pari Passu
	55

	3.17    Sanctions
	55

	3.18    Choice of Law
	55

	3.19    Civil Law; No Immunity
	55

	3.20    The Pre-Export Loans
	56

	3.21    Security Interests and Liens
	56

	3.22    Certain Taxes
	56

	3.23    FATCA
	57

	3.24    Environmental Matters
	57

	SECTION 4.    CONDITIONS PRECEDENT
	57

	4.1    Conditions to Effectiveness and the Initial Pre-Export Loans
	57

	4.2    Conditions to Each Pre-Export Loan
	57

	4.3    Conditions to Fifth Amendment Effective Date
	59

	SECTION 5.    COVENANTS
	59

	5.1    Affirmative Covenants
	59

	5.2    Export Contracts and Export Receivables Covenants
	66

	5.3    Negative Covenants
	67

	5.4    Financial Covenants
	71

	5.5    Use of Websites
	71

	SECTION 6.    EVENTS OF DEFAULT
	72

	SECTION 7.    THE PRE-EXPORT AGENTS
	75

	7.1    Appointment
	75

	7.2    Delegation of Duties
	75

	7.3    Exculpatory Provisions
	75

	7.4    Reliance by Agents
	76

	7.5    Notice of Default
	76

	7.6    Non-Reliance on Agents and Other Pre-Export Lenders
	76

	7.7    Indemnification
	77

	7.8    Agent in Its Individual Capacity
	77

	7.9    Successor Agents
	78

	7.10    Pre-Export Lead Arrangers and Pre-Export Bookrunners
	78

	7.11    Agent Communications
	78

	SECTION 8.    MISCELLANEOUS
	79

	8.1    Amendments and Waivers
	79

	8.2    Notices
	80

	8.3    No Waiver; Cumulative Remedies
	81

	8.4    Survival of Representations and Warranties
	81

	8.5    Payment of Expenses
	82

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	8.6    Successors and Assigns; Participations and Assignments
	83

	8.7    Adjustments; Setoff
	86

	8.8    Counterparts
	86

	8.9    Severability
	86

	8.10    Integration
	87

	8.11    Governing Law
	87

	8.12    Submission To Jurisdiction; Waivers
	87

	8.13    Acknowledgements
	88

	8.14    Confidentiality
	89

	8.15    WAIVERS OF JURY TRIAL
	90

	8.16    Conversion of Currencies into Dollars
	90

	8.17    U.S.A. Patriot Act
	90

	8.18    Acknowledgment and Consent to Bail-In of EEA Financial Institutions
	90

	8.19    Effect of Restatement
	91

	SECTION 9.    CO-BORROWER ARRANGEMENTS AND BORROWER REPRESENTATIVE
	91

	9.1    Status of Co-Pre-Export Borrowers
	91

	9.2    Appointment of Pre-Export Borrower Representative; Nature of Relationship
	92

	9.3    Powers
	92

	9.4    Employment of Agents
	93

SCHEDULES:
1    Pre-Export Borrowers Equity Interests
2    Structure Chart prior to Conversion
3    Structure Chart after Conversion
4    Existing Indebtedness

EXHIBITS:
A    Form of Pre-Export Borrower Secretary Certificate
B    Form of Assignment and Acceptance
C    Form of Funding Indemnity Letter
D    Form of Note
E    Form of Compliance Certificate
F    Form of Subordination Agreement
G    Form of Waiver of Voting Rights
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H    Form of Collateral Registration Report

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FIFTH AMENDED AND RESTATED PRE-EXPORT FINANCING AGREEMENT (as amended, amended and restated, supplemented or otherwise modified in accordance with the terms hereof and in effect from time to time, this “Agreement”), dated as of November 6, 2020, among BUNGE AÇÚCAR E BIOENERGIA S.A. (CURRENT NAME OF USINA MOEMA AÇÚCAR E áLCOOL S.A.) (“Usina Moema”), USINA GUARIROBA LTDA. (“Guariroba”), PEDRO AFONSO AÇÚCAR & BIOENERGIA LTDA., USINA ITAPAGIPE AÇÚCAR E áLCOOL LTDA., USINA FRUTAL AÇÚCAR E áLCOOL LTDA., AGROINDUSTRIAL SANTA JULIANA LTDA. (“Santa Juliana”), USINA OUROESTE AÇÚCAR E áLCOOL LTDA., BP BIOENERGIA TROPICAL S.A. (“Tropical”), BP BIOENERGIA ITUIUTABA LTDA. (“Ituiutaba”), BP BIOENERGIA ITUMBIARA S.A. (“Itumbiara”), each organized and domiciled in Brazil (together with any entities that become Pre-Export Borrowers pursuant to the terms hereof, each a “Pre-Export Borrower” and collectively the “Pre-Export Borrowers”), the banks and other financial institutions or entities from time to time parties to this Agreement (the “Pre-Export Lenders”), SUMITOMO MITSUI BANKING CORPORATION (“SMBC”), as a joint lead arranger and as bookrunner, as Pre-Export Administrative Agent for the Pre-Export Lenders, and as a Pre-Export Lender, BANCO RABOBANK INTERNATIONAL BRASIL S.A. (“Rabobank Brasil”), as Pre-Export Collateral Agent for the Pre-Export Lenders, Coöperatieve Rabobank U.A. (“Rabobank”), as the senior mandated lead arranger and as a Pre-Export Lender, ABN AMRO Bank N.V. as a joint lead arranger and as a bookrunner and as a Pre-Export Lender (“ABN”) and ING Bank N.V. as a joint lead arranger and as a bookrunner and as a Pre-Export Lender (“ING”). 
WHEREAS, the parties desire to add BP Bioenergia Tropical S.A., BP Bioenergiea Ituiutaba Ltda. and BP Bioenergia Itumbiara S.A as Pre-Export Borrowers under the Agreement; and
WHEREAS, the parties agree that this Agreement amends and restates that certain Fourth Amended and Restated Pre-Export Financing Agreement, dated as of August 21, 2020 (the “Existing Pre-Export Financing Agreement”), among, inter alia, the Pre-Export Borrowers, the Pre-Export Lenders, and SMBC, as the Pre-Export Administrative Agent on behalf of the Pre-Export Lenders.
The parties hereto hereby agree as follows:
SECTION 1.DEFINITIONS
a.Defined Terms
.  As used in this Agreement, the terms listed in this Section 1.1 shall have the respective meanings set forth in this Section 1.1.
SECTION 1.“ABN”:   as defined in the preamble.
SECTION 2.“Additional Assignment and Security Agreement”: a permissible Assignment and Security Agreement which may be entered into from time to time following the 
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Conversion Date, in form and substance reasonably satisfactory to the Pre-Export Collateral Agent.
SECTION 3.“Adjusted IFRS EBITDA”:  for any period, the result, for the Pre-Export Borrowers and their Subsidiaries (determined on a consolidated basis without duplication in accordance with IFRS), of the following:  
SECTION 4.(a) “Gross Profit” (as set forth in the income statement of the consolidated financial statements) minus 
SECTION 5.(b) “Selling” (as set forth in the income statement of the financial statements) minus 
SECTION 6.(c) “General and Administrative” (as set forth in the income statement of the financial statements) plus (if positive) / minus (if negative) 
SECTION 7.(d) “other operating income expenses” (as set forth in the income statement of the consolidated financial statements) plus (if positive) / minus (if negative) 
SECTION 8.(e) “Financial Results” (as defined below) plus 
SECTION 9.(f) “Depreciation and Amortization” (as set forth in the cash flow statement of the consolidated financial statements) plus 
SECTION 10.(g) “Biological Asset Harvested” (as set forth in the cash flow statement of the consolidated financial statements) plus (if a loss) / minus (if a gain) 
SECTION 11.(h) “Gains or Losses on changes to the fair value less estimated costs to sell biological assets” (as set forth in the cash flow statement of the consolidated financial statements).  
SECTION 12.As used herein, “Financial Results” means the result of (x) “Gain on Derivative Financial Instruments” (as set forth on the footnote entitled “Finance Income (expense)” in the consolidated financial statements) minus (y) “Losses on Derivative Financial Instruments” (as set forth on the footnote entitled “Finance income expense” in the consolidated financial statements) plus (if a gain) / minus (if a loss) (z) “Exchange rate variation, net” (as set forth on the footnote entitled “Finance income/expense” in the consolidated financial statements); provided, that, “Exchange rate variation, net” shall exclude exchange variation arising from the pre-export facility under this Agreement or any other debt facility not denominated in Reais.
SECTION 13.“Affiliate”:  with respect to any specified Person, any other Person which, directly or indirectly, is in control of, is controlled by, or is under common control with, such specified Person.  For purposes of this definition “control” of a Person means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities or otherwise, and the terms “controlling” and “controlled” have meanings correlative to the foregoing.
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SECTION 14.“Aggregate Exposure”:  with respect to any Pre-Export Lender at any time, the sum of (a) such Pre-Export Lender’s Loans plus (b) such Pre-Export Lender’s unused Pre-Export Commitments.
SECTION 15.“Aggregate Exposure Percentage”:  with respect to any Pre-Export Lender at any time, the ratio (expressed as a percentage) of such Pre-Export Lender’s Aggregate Exposure at such time to the Aggregate Exposure of all Pre-Export Lenders at such time.
SECTION 16.“Agreement”:  as defined in the preamble hereto.
SECTION 17.“Anti-Corruption Laws”: all laws, rules and regulations of any jurisdiction applicable to the Pre-Export Loan Parties from time to time concerning or relating to bribery or corruption.
SECTION 18.“Applicable Margin”:  the per annum rate set forth in the applicable row of the table below:
						
	Total Net Leverage Ratio	Spread
	Category 1	[●]%
	Category 2	[●]%
	Category 3	[●]%
	Category 4	[●]%

SECTION 19.
SECTION 20.“Applicable Threshold”: with respect to any Pre-Export Loan Party, (a) prior to the occurrence of a SugarCo COC Event, $[●] and (b) after the occurrence of a SugarCo COC Event, $[●].
SECTION 21.“Assigned Export Contract”: each Export Contract under which any Assigned Export Receivable arises.
SECTION 22.“Assigned Export Receivables”:  the relevant Export Receivables that are assigned by the respective Pre-Export Borrower and Off-Shore SugarCo to the Pre-Export Collateral Agent for the benefit of the Pre-Export Credit Parties from time to time under each Assignment and Security Agreement in accordance with this Agreement and listed on Schedule 1 to each Assignment and Security Agreement.  
SECTION 23.“Assignee”:  as defined in Section 8.6(c).
SECTION 24.“Assignment and Acceptance”:  an Assignment and Acceptance, substantially in the form of Exhibit B.
SECTION 25.“Assignment and Security Agreements”:  the Original Assignment and Security Agreement and any Additional Assignment and Security Agreement.
SECTION 26.“Assignor”:  as defined in Section 8.6(c).
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SECTION 27.“Authorized Agent”:  as defined in Section 8.12(f).
SECTION 28.“Authorized Agent Resignation Notice”:  as defined in Section 8.12(f).
SECTION 29.“Available Pre-Export Commitment”:  as to any Pre-Export Lender at any time, an amount equal to such Pre-Export Lender’s Pre-Export Commitment then in effect minus:
a.the principal amount of its outstanding Pre-Export Loans on such date; and
b.for the purposes of Section 2.2 only, in relation to any proposed borrowing or Pre-Export Loan, the principal amount of any Pre-Export Loans that are due to be made by such Pre-Export Lender on or before the proposed Pre-Export Borrowing Date.
SECTION 30.“Bail-In Action”:  the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution.
SECTION 31.“Bail-In Legislation”:  with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule.
SECTION 32.“BASEL III”: 
a.the agreements on capital requirements, a leverage ratio and liquidity standards contained in “Basel III:  A global regulatory framework for more resilient banks and banking systems”, “Basel III:  International framework for liquidity risk measurement, standards and monitoring” and “Guidance for national authorities operating the countercyclical capital buffer” published by the Basel Committee on Banking Supervision on December 16, 2010, each as amended, supplemented or restated;
b.the rules for global systemically important banks contained in “Global systemically important banks:  assessment methodology and the additional loss absorbency requirement – Rules text” published by the Basel Committee on Banking Supervision in November 2011, as amended, supplemented or restated; and
c.any further guidance or standards published by the Basel Committee on Banking Supervision relating to “Basel III”.
SECTION 33.“Basel IV”: the papers prepared by the Basel Committee (i) in January 2016 entitled “Minimum Capital Market Requirements”, (ii) in March 2016 entitled “Revisions to the Standardised Approach for credit risk”, (iii) in June 2016 entitled “Reducing variation in credit risk-weighted assets – constraints on the use of internal model approaches”, and (iv) all other publications considered part of Basel IV, and in each case, as updated from time to time, or any rules, regulations, guidance, interpretations or directives promulgated or 
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issued in connection therewith by any bank regulatory agency (whether or not having the force of law).
SECTION 34.“Benefitted Pre-Export Lender”:  as defined in Section 8.7(a).
SECTION 35.“BL”:  Bunge Limited, a company incorporated under the laws of Bermuda.
SECTION 36.“BNDES”: Banco Nacional de Desenvolvimento Econômico e Social – BNDES.
SECTION 37.“Board”:  the Board of Governors of the Federal Reserve System of the United States (or any successor).
SECTION 38.“Board of Directors”:  with respect to any Person, the board of directors of such Person or any duly authorized committee thereof.
SECTION 39.“Brazil”:  the Federative Republic of Brazil. 
SECTION 40.“Brazil Collateral Registration Trigger Date”: March 31, 2021.
SECTION 41.“Brazil Collateral Registration Trigger Date Collateral Value Requirement”: as defined in Section 5.1(q)(vii).
SECTION 42.“Brazilian Anti-Corruption Law”:  Brazilian Law No. 12,846, dated August 1, 2013 and Decree No. 8,420, dated March 18, 2015, as amended from time to time, and any regulations issued thereunder or in connection therewith or interpretation thereof by any Governmental Authorities in Brazil.
SECTION 43.“Brazilian Civil Code” means Brazilian law No. 10,406 of 10 January 2002, as amended.
SECTION 44.“Brazilian Civil Procedure Code” means Brazilian law No. 13,105 of 16 March 2015, as amended.
SECTION 45.“Brazilian Security Documents”:  the Mortgage Deeds, the Equipment Fiduciary Sale Agreement and the Sugar Cane Pledge Agreement.
SECTION 46.“Business Day”:  a day other than a Saturday, Sunday or other day on which commercial banks in New York City and São Paulo, Brazil are authorized or required by law to close; provided, that, “Business Day” shall also exclude any day on which banks are not open for dealings in deposits in Dollars in the London interbank market.
SECTION 47.“Calculation Period”:  with respect to amounts of principal or interest outstanding and due hereunder, a period equivalent to each Interest Period established for the Pre-Export Loans.
SECTION 48.“Capital Stock”:  with respect to any Person, any and all shares, interests, rights to purchase, warrants, options (whether or not currently exercisable), participations or other equivalents of or interests in (however designated) the equity (which 
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includes, but is not limited to, common stock or shares, preferred stock or shares and partnership and joint venture interests) of such Person (excluding any debt securities convertible into, or exchangeable for, such equity).
SECTION 49.“Cash and Cash Equivalents”:  on any date of determination, the Dollar Equivalent of (a) the amount of cash on the Pre-Export Borrowers’ consolidated balance sheet as of such day plus (b) the amount of cash equivalents on the Pre-Export Borrowers’ consolidated balance sheet as of such day measured in Dollars, in each case, in accordance with the IFRS. 
SECTION 50. “Casualty Event”:  the damage or destruction, or any taking under power of eminent domain or by any Governmental Authority, or by condemnation or similar proceeding, of any property of any Pre-Export Borrower or any of their respective Subsidiaries that is part of the Collateral for which such Pre-Export Borrower or Subsidiary receives insurance proceeds or proceeds of a condemnation award or other compensation.
SECTION 51.“Categories”:  Category 1, Category 2, Category 3 and Category 4, collectively. 
SECTION 52.“Category 1”, “Category 2”, “Category 3” and “Category 4”; the respective Categories set forth below:
						
		Total Net Leverage Ratio
	Category 1	[●]
	Category 2	[●]
	Category 3	[●]
	Category 4	[●]

SECTION 53.
SECTION 54.; provided that, notwithstanding anything herein to the contrary, (i) during any period when the Pre-Export Borrowers shall have failed to timely deliver the consolidated financial statements pursuant to Section 5.1(f) or 5.1(g) hereof, or the compliance certificate pursuant to Section 5.1(h) hereof, until such time as the appropriate consolidated financial statements and compliance certificate are delivered, the applicable Category, for purposes of the Applicable Margin and the Pre-Export Commitment Fee Rate shall, at the election of the Pre-Export Administrative Agent (which may be retroactively effective during such period), be  Category 4, regardless of the Total Net Leverage Ratio at such time, and (ii) in the event that any financial information or certification provided to the Pre-Export Administrative Agent in the compliance certificate is shown to be inaccurate (regardless of whether this Agreement or the Pre-Export Commitment is in effect when such inaccuracy is discovered), including through the delivery of audited financial statements in respect of prior periods covered by unaudited quarterly financial statements, and such inaccuracy, if corrected, would have led to the application of a higher or lower Category for any period (an "Applicable Period") than the Category used to calculate the Applicable Margin and the Pre-Export Commitment Fee Rate for such Applicable Period, then (A) the Pre-Export Borrower Representative shall promptly deliver to the Pre-Export Administrative Agent a corrected 
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compliance certificate for such Applicable Period, (B) the applicable Category for each such Applicable Period shall be determined based on such corrected compliance certificate, and (C) the Pre-Export Borrowers or the Pre-Export Administrative Agent (on behalf of the Pre-Export Lenders), as applicable, shall promptly pay to the other, the accrued additional fees and interest, as applicable, owing or required to be reimbursed as a result of such increased or decreased Applicable Margin and Pre-Export Commitment Fee Rate for such Applicable Period.
SECTION 55.“Central Bank of Brazil”:  the Banco Central do Brasil.
SECTION 56.“Change in Control”:  the occurrence of any of the following:
(1)    the acquisition by any Person or group, including any group acting for the purpose of acquiring, holding or disposing of securities, in a single transaction or in a related series of transactions, by way of merger, consolidation or other business combination, of (i) [●]% or more of the total voting power of the Voting Stock of Pre-Export Borrower Representative or (ii) solely following the occurrence of a SugarCo COC Event, the Control of Pre-Export Borrower Representative, or 
(2) Pre-Export Borrower Representative or the Parent ceasing to (i) hold [●]% of the Voting Stock of each other Pre-Export Borrower or (ii) solely following the occurrence of a SugarCo COC Event, Control each other Pre-Export Borrower; or
(3)    the sale, lease or transfer, in one or a series of related transactions, of all or substantially all of the assets of any Pre-Export Borrower and its Subsidiaries, taken as a whole, to any Person that is not a Subsidiary of the Pre-Export Borrower Representative or the Parent; or
(4)    the first day on which a majority of the members of a Pre-Export Borrower’s Board of Directors are not Continuing Directors.
SECTION 57.“Change in Law”:  as defined in Section 2.12. 
SECTION 58.“Code”:  the United States Internal Revenue Code of 1986, as amended from time to time, and the rules and regulations promulgated thereunder from time to time.
SECTION 59.“Collateral”:  all the assets, property or collateral pledged, charged, mortgaged, fiduciarily encumbered or assigned (fiduciariamente alienada or fiduciariamente cedida) or otherwise granted, or over or in which a Lien is granted, or purported to be pledged, charged, mortgaged, fiduciarily encumbered or assigned (fiduciariamente alienada or fiduciariamente cedida) or otherwise granted, as collateral security pursuant to any Security Document, such assets, property and collateral to include:
a.each Collateral Account;
b.the rights of each Pre-Export Loan Party under all Export Contracts to which such Pre-Export Loan Party is a party that have payment obligations that extend at least 12 months after the Pre-Export Maturity Date;
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c.all Properties;
d.fixed assets of the Pre-Export Loan Parties, including all sugar mills and related Equipment; and
e.Sugar Cane described in a Sugar Cane Pledge Agreement;
SECTION 60.provided that the Collateral shall not include any Equipment that as of the date hereof is subject to a Lien granted to secure any borrowing from BNDES or any funding provided by BNDES. 
SECTION 61.“Collateral Account(s)”: each account in the name of a Pre-Export Loan Party with JPMorgan Chase Bank N.A. or any other bank in New York acceptable to the Pre-Export Collateral Agent, the name, account number and account bank of which (with respect to each Collateral Account existing on the Conversion Date) shall be disclosed by the Pre-Export Borrower Representative to the Pre-Export Administrative Agent in writing prior to the Conversion Date.
SECTION 62.“Collateral Account Control Agreement”:  each control agreement over the Collateral Accounts, in form and substance reasonably satisfactory to the Pre-Export Collateral Agent.
SECTION 63.“Collateral Account Security Agreement”: the Collateral Account Security Agreement dated on or prior to the Conversion Date, in form and substance reasonably satisfactory to the Pre-Export Collateral Agent.
SECTION 64.“Collateral Registration Report”: as defined in Section 5.1(q)(xiv).
SECTION 65.“Connection Income Taxes”:  Other Connection Taxes that are imposed on or measured by net income (however denominated) or that are franchise Taxes or branch profits Taxes.
SECTION 66.“Consenting Pre-Export Lender” as defined in Section 2.20(c)(i).
SECTION 67.“Continuing Directors”:  as of any date of determination, any member of the Board of Directors of a Pre-Export Borrower who (a) was a member of such Board of Directors on the Revolving Closing Date; or (b) was nominated for election, appointed or elected to such Board of Directors with the approval of a majority of the Continuing Directors who were members of such Board of Directors at the time of such nomination or election (either by a specific vote or by approval of such Pre-Export Borrower’s proxy statement in which such member was named as a nominee for election as a director).
SECTION 68.“Contractual Obligation”:  as to any Person, any provision of any security issued by such Person or of any agreement, instrument or other undertaking to which such Person is a party or by which it or any of its property is bound.
SECTION 69.“Control”: the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise.
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SECTION 70.“Conversion”:  the conversion of the Revolving Credit Agreement Commitments to the Pre-Export Commitments following satisfaction of all conditions set forth in Section 2.3 of the Framework Agreement. 
SECTION 71.“Conversion Date”:  the date, if any, on which Conversion has occurred.
SECTION 72."CRD IV/CRR":  (a) Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms, and (b) Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms.
SECTION 73.“Credit Agreement Refinancing Indebtedness”: secured or unsecured Indebtedness of the Pre-Export Borrowers in the form of one or more series of term loans, revolving commitments (and corresponding revolving loans) or notes; provided that:
a.such Indebtedness is incurred or otherwise obtained (including by means of the extension or renewal of existing Indebtedness) in exchange for, or to extend, renew, replace or refinance, in whole or part (and such exchange, extension, renewal, replacement or refinancing occurs substantially concurrently with such incurrence or obtainment), Indebtedness (“Refinanced Debt”) that is existing and currently outstanding Pre-Export Loans or other Credit Agreement Refinancing Indebtedness;
b.the Weighted Average Life to Maturity of such Indebtedness is equal to or longer than the remaining Weighted Average Life to Maturity of the Refinanced Debt, and the final maturity date of such Credit Agreement Refinancing Indebtedness is not earlier than the maturity date of the Refinanced Debt;
c.such Indebtedness may participate on a pro rata basis or on a less than pro rata basis (but not on a greater than pro rata basis) in any mandatory prepayments hereunder;
d.such Indebtedness is not guaranteed by any Person that is not a Pre-Export Loan Party;
e.if such Indebtedness is secured, (i) a Debt Representative acting on behalf of the holders of such Indebtedness has become party to or is otherwise subject to the provisions of an intercreditor agreement in form and substance reasonably acceptable to the Required Pre-Export Lenders; (ii) any Lien on the Collateral securing such Indebtedness will be pari passu with the Lien of the Pre-Export Credit Parties in such Collateral; and (iii) such Indebtedness is not secured by any asset or property of a Pre-Export Loan Party that does not constitute Collateral; and
f.the terms and conditions of such Indebtedness are (x) substantially identical to, or, taken as a whole, not materially more favorable to the lenders or holders providing such Indebtedness than, those applicable to such Refinanced Debt or (y) reflect market terms and conditions at the time of incurrence or issuance thereof, in each case, as determined in good faith by a Responsible Officer of the Pre-Export Borrower Representative; provided that 
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the Pre-Export Borrower Representative will promptly deliver to the Pre-Export Administrative Agent final copies of the definitive credit documentation relating to such Indebtedness (unless the Pre-Export Borrowers are bound by a confidentiality  obligation with respect thereto, in which case the Pre-Export Borrower Representative will deliver, subject to such confidentiality obligations, a reasonably detailed description of the material terms and conditions of such Indebtedness in lieu thereof); provided, further, that this clause (f) will not apply to:
i.terms addressed in the preceding clauses (a) through (e);
ii.(w) interest rate, fees, funding discounts and other pricing terms; (x) redemption, prepayment or other premiums; (y) optional prepayment terms; and (z) redemption terms;
iii.subordination terms; or
iv.covenants or other provisions applicable only to periods after the Pre-Export Maturity Date at the time of incurrence of such Indebtedness.
“Debt Representative”: with respect to any Indebtedness that is secured on a pari passu basis with, or on a junior basis to, the Pre-Export Loans, by a Lien on the Collateral, the trustee, administrative agent, collateral agent, security agent or similar agent under the indenture or agreement pursuant to which such Indebtedness is issued, incurred or otherwise obtained, as the case may be, and each of their successors in such capacities.
“Debt Service”: on any date of determination, with respect to the Pre-Export Borrowers and their Subsidiaries on a consolidated basis, all regularly scheduled payments or prepayments of principal of Indebtedness that is secured by payments to be made under export contracts and total interest expense (including that portion attributable to capital leases in accordance with IFRS and capitalized interest) (assuming for this purpose that the LIBO Rate and the Applicable Margin for the applicable period are the LIBO Rate and the Applicable Margin on the date of determination), premium payments, debt discount, fees, charges and related expenses with respect to all such outstanding Indebtedness of the Pre-Export Borrowers and their Subsidiaries, in each case to be paid in cash during the twelve month period commencing on such date of determination, but excluding the payment of outstanding Pre-Export Loans hereunder on the Pre-Export Maturity Date.
“Declining Pre-Export Lender”:  as defined in Section 2.20(c)(iii).
“Default”:  any of the events specified in Section 6, whether or not any requirement for the giving of notice, the lapse of time, or both, has been satisfied.
SECTION 74.“Defaulting Pre-Export Lender”:  any Pre-Export Lender that (a) has failed to fund any portion of its Pre-Export Loans required to be funded by it hereunder within three (3) Business Days of the date required to be funded by it hereunder (unless such Pre-Export Lender has indicated in writing to the Pre-Export Borrower Representative or by public statement that such position is based on such Pre-Export Lender’s good faith determination that a 
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condition precedent to funding a Pre-Export Loan under this Agreement cannot be satisfied), (b) has notified the Pre-Export Borrower Representative or the Pre-Export Administrative Agent in writing that it does not intend to comply with any of its funding obligations under this Agreement or has made a public statement to the effect that it does not intend to comply with its funding obligations under this Agreement (unless such writing or public statement indicates that such position is based on such Pre-Export Lender’s good faith determination that a condition precedent to funding a Pre-Export Loan under this Agreement cannot be satisfied), (c) has otherwise failed to pay over to the Pre-Export Administrative Agent any other amount required to be paid by it hereunder within three (3) Business Days of the date when due, unless the subject of a good faith dispute, or (d) (i) is insolvent, (ii) has become the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee or custodian appointed for it, or has indicated its consent to, approval of or acquiescence in any such proceeding or appointment or (iii) has become subject of a Bail-In Action; provided, that a Pre-Export Lender shall not become a “Defaulting Pre-Export Lender” solely as a result of the acquisition or maintenance of an ownership interest in such Pre-Export Lender or Person controlling such Pre-Export Lender or the exercise of control over a Pre-Export Lender or Person controlling such Pre-Export Lender by a Governmental Authority or instrumentality thereof.
SECTION 75.“Designated Branch/Office”:  as defined in Section 2.15(a).
SECTION 76.“Designated Website”:  as defined in Section 5.5(a).
SECTION 77.“Designating Lender”:  as defined in Section 2.15(a).
SECTION 78.“Direct Sale”: a direct private sale of equity interests in Usina Moema that is neither (i) carried out on a stock exchange, (ii) in the over-the-counter market nor (iii) an IPO, so long as, with respect to clauses (i) to (iii), such sale of equity interests in Usina Moema carried out on a stock exchange or in the over-the-counter market does not result from a private negotiation.
SECTION 79.“Dollar Equivalent”:  on any date of determination (a) with respect to any amount denominated in Dollars, such amount, and (b) with respect to any amount denominated in Reais or any other currency other than Dollars, the equivalent in Dollars of such amount, determined by the Pre-Export Administrative Agent pursuant to Section 8.16 using the Rate of Exchange with respect to such currency on such date in effect under the provisions of such Section.
SECTION 80.“Dollars” and “$”:  the lawful currency of the United States.
SECTION 81.“Eligible Importer”: any purchaser of Goods from any Pre-Export Borrower or Off-Shore SugarCo which (i) is not located in Brazil and (ii) shall not be located in any High-Risk Country or be a Sanctioned Person.
SECTION 82.“Environmental Laws”:  any and all foreign, federal, state, local, provincial or municipal laws, rules, orders, regulations, statutes, ordinances, codes, decrees, requirements of any Governmental Authority or other Requirements of Law (including common law) regulating, relating to or imposing liability or standards of conduct concerning protection of human health or the environment, as now or may at any time hereafter be in effect.
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SECTION 83.“Equipment”:  (i) all the equipment and machinery of the Pre-Export Borrowers and (ii) all proceeds of such equipment and machinery, including whatever funds or property that is hereafter received upon the sale, exchange or disposition of any such equipment and machinery.
SECTION 84.“Equipment Fiduciary Sale Agreement”: each Equipment Sale Assignment Agreement (Contrato de Constituição de Alienação Fiduciária de Equipamentos) to be entered into by and between the Pre-Export Loan Parties and the Onshore Collateral Agent, as amended from time to time, providing for the fiduciary sale of the Equipment; provided, that, the Equipment subject to any such fiduciary sale or pledge shall not include any Equipment that as of the date hereof is subject to a Lien granted to secure any borrowing from BNDES.
SECTION 85.“EU Bail-In Legislation Schedule”:  EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor Person), as in effect from time to time.
SECTION 86.“Event of Default”:  any of the events specified in Section 6, provided that any requirement for the giving of notice, the lapse of time, or both, has been satisfied.
SECTION 87.“Exchange Rate”:  for any day, the average exchange rate (taxa de câmbio) at which Reais may be exchanged into Dollars disclosed by the Central Bank of Brazil on its website (which, at the date hereof, is located at http://www.bcb.gov.br/txcambio), under transaction “Cotações e Boletins” option “Cotações de fechamento de todas as moedas em uma data”, “Venda” (or any successor screen established by the Central Bank of Brazil) during the most recent Exchange Rate Calculation Period.
SECTION 88.“Exchange Rate Calculation Period”: the ninety (90) day period immediately preceding the end of each applicable fiscal year of the Pre-Export Borrowers.
SECTION 89.“Excluded Taxes”:  any of the following Taxes imposed on or with respect to a Recipient, or required to be withheld or deducted from a payment to a Recipient by or on account of any obligation of any Pre-Export Borrower hereunder: (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (i) imposed as a result of such Recipient being organized under the laws of, or having its principal office or, in the case of any Pre-Export Lender, its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are Other Connection Taxes, (b) Taxes attributable to the failure by the Pre-Export Lender to comply with Section 2.13(f) or 2.13(g) and (c) any U.S. federal withholding Taxes imposed under FATCA.
SECTION 90.“Executive Order”:  Executive Order No. 13224 of September 23, 2011 – Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten To Commit, or Support Terrorism.
SECTION 91.“Existing Pre-Export Financing Agreement”: as defined in the recitals hereto.
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SECTION 92.“Existing Pre-Export Loan Agreements”: as defined in the Framework Agreement.
SECTION 93.“Existing Pre-Export Loans”:  as defined in the Framework Agreement.
SECTION 94.“Export Contract”:  each export contract (a) under which a Pre-Export Borrower or the Off-Shore SugarCo sells and delivers, and an Eligible Importer purchases in free and immediately available Dollars, Goods, (b) solely with respect to an export contract between a Pre-Export Borrower and Off-Shore SugarCo, in form and substance reasonably satisfactory to the Pre-Export Administrative Agent and the Pre-Export Collateral Agent (acting on behalf of the Pre-Export Lenders), (c) that either does not restrict the relevant Pre-Export Borrower or Off-Shore SugarCo from assigning its rights thereunder to the Pre-Export Credit Parties or the relevant Pre-Export Borrower has obtained the consent of the Eligible Importer to such assignment and (d) is governed by the laws of (i) New York, (ii) England or (iii) any other jurisdiction agreed to from time to time by the Pre-Export Administrative Agent and the Pre-Export Collateral Agent; provided, that, in the case of clauses (i), (ii) and (iii) of this clause (d), the Pre-Export Borrowers have delivered to the Pre-Export Lenders all security documentation and legal opinions reasonably requested by the Pre-Export Lenders with respect to such jurisdiction.
SECTION 95.“Export Receivables”:  all valid and enforceable accounts receivable payable outside of Brazil by an Eligible Importer in immediately available Dollars not subject to any Lien or constraint by any Governmental Authority and arising from the sale of Goods by a Pre-Export Borrower or Off-Shore SugarCo to the relevant Eligible Importer pursuant to an Export Contract.
SECTION 96.“Extension Pre-Export Maturity Date”:  means the date falling up to twelve (12) months after the Original Pre-Export Maturity Date as set forth in the Extension Request.
SECTION 97.“Extension Request”:  as defined in Section 2.20(a).
SECTION 98.“Extension Response Deadline”: as defined in Section 2.20(c)(i).
SECTION 99.“FATCA”:  (a) Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is substantially comparable to and not materially more onerous to comply with) and any current or future regulations or official interpretations thereof and any agreements entered into pursuant to Section 1471(b) of the Code and (b) any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement entered into in connection with the implementation of any law or regulation referred to in paragraph (a) above.
SECTION 100.“Fee Letter”:  that certain $[●] Amended and Restated Fee Letter, dated as of April 23, 2018, between Bunge Limited Finance Corp., Bunge Limited and the Pre-Export Joint Lead Arrangers.
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SECTION 101.“Fifth Amendment Effective Date”: as defined in Section 4.3.
SECTION 102.“Financial Covenant” and “Financial Covenants”:  as defined in Section 5.4.
SECTION 103.“Fixed Asset Coverage Ratio”:  for any date of determination, with respect to the Pre-Export Borrowers on a consolidated basis, the ratio of (a) the Gross Debt of the Pre-Export Borrowers at such date secured by the Pre-Export Borrowers’ Properties, fixed assets and Sugar Cane constituting Collateral, to (b) the sum of the appraised value (using the market values set forth in the most recent appraisal required to be delivered by the Pre-Export Borrowers hereunder) of the Pre-Export Borrowers’ Properties, fixed assets and Sugar Cane constituting Collateral; provided, that (x) only Collateral described in a Brazilian Security Document or amendment thereto that has been registered with the applicable Registry of Deeds and Documents Offices or Real Estate Registry Offices, as applicable, shall be considered as “Collateral” for the purposes of the Fixed Asset Coverage Ratio calculation, (y) for the avoidance of doubt, any uneconomic or obsolete Equipment that is disposed of by a Pre-Export Borrower in accordance with Section 5.3(f) or otherwise is no longer in use by a Pre-Export Borrower shall continue to be considered as “Collateral” (and any Equipment acquired to replace such uneconomic or obsolete Equipment shall not be considered Collateral) for the purposes of the Fixed Asset Coverage Ratio calculation unless and until such disposed of or retired Equipment is no longer described in a Brazilian Security Document or amendment thereto that has been registered with the applicable Registry of Deeds and Documents Offices and (z) commencing with the Pre-Export Borrowers’ fiscal year ending March 31, 2021 and in connection with the end of each Pre-Export Borrowers’ fiscal year thereafter, the Fixed Asset Coverage Ratio shall be calculated in accordance with Section 5.1(q)(xii) using the then applicable Exchange Rate calculated for the Exchange Rate Calculation Period ending on the last day of such fiscal year.
SECTION 104.“Foreign Pre-Export Lender”:  a Pre-Export Lender that is resident or organized under the laws of a jurisdiction other than that in which any Pre-Export Borrower is resident for tax purposes. 
SECTION 105.“Fourth Amendment Effective Date”: August 21, 2020.
SECTION 106.Framework Agreement”: the Framework Agreement, dated as of May 1, 2018, among Bunge Limited Finance Corp., Bunge Limited, the Pre-Export Borrowers and SMBC and the other lenders and agents party thereto as amended, supplemented, restated or otherwise modified from time to time in accordance with its terms.
SECTION 107.“Funding Account”:  the account(s) identified by the Pre-Export Borrowers to the Pre-Export Administrative Agent prior to the Conversion Date. 
SECTION 108.“Funding Indemnity Letter”:  a Funding Indemnity Letter, substantially in the form of Exhibit C.
SECTION 109.“Funding Office”:  the office of the Pre-Export Administrative Agent specified in Section 8.2 or such other office as may be specified from time 
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to time by the Pre-Export Administrative Agent as its funding office by written notice to the Pre-Export Borrower Representative and the Pre-Export Lenders.
SECTION 110.“Goods”:  Brazilian raw sugar, Brazilian white sugar, Brazilian hydrous ethanol, Brazilian anhydrous ethanol, other sugarcane-based products and any other product agreed to in writing by the Pre-Export Administrative Agent (acting upon the instructions of the Required Pre-Export Lenders).
SECTION 111.“Governing Documents”:  the charter and by-laws, articles of incorporation, articles of association, estatuto social, contrato social or other organizational or governing documents of any Person.
SECTION 112.“Governmental Approval”:  any permit, consent, license, approval, authorization, exemption, registration, filing, regulation, rule, law, order, opinion or declaration from or with, as the case may be, any Governmental Authority.
SECTION 113.“Governmental Authority”:  any nation or government, any state or other political subdivision thereof and any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government.
SECTION 114.“Gross Debt”:  on any date of determination, with respect to any Person, the  “Third Party Borrowings” (as set forth in the Current and Non-current section of the consolidated financial statements, which for the avoidance of doubt shall include all obligations for borrowed money under credit facilities extended by financial institutions, all obligations evidenced by bonds and all obligations for non-subordinated borrowed money extended by such Person’s unconsolidated Affiliates).
SECTION 115.“Guarantee Obligation”:  as to any Person (the “guaranteeing person”), any obligation of (a) the guaranteeing person or (b) another Person (including any bank under any letter of credit) with respect to which the guaranteeing person has issued a reimbursement, counterindemnity or similar obligation, in either case guaranteeing or in effect guaranteeing any Indebtedness, leases, dividends or other obligations (the “primary obligations”) of any other third Person (the “primary obligor”) in any manner, whether directly or indirectly, including any obligation of the guaranteeing person, whether or not contingent, (i) to purchase any such primary obligation or any property constituting direct or indirect security therefor, (ii) to advance or supply funds (1) for the purchase or payment of any such primary obligation or (2) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary obligor, (iii) to purchase property, securities or services primarily for the purpose of assuring the owner of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation or (iv) otherwise to assure or hold harmless the owner of any such primary obligation against loss in respect thereof; provided, however, that the term Guarantee Obligation shall not include endorsements of instruments for deposit or collection in the ordinary course of business.  The amount of any Guarantee Obligation of any guaranteeing person shall be deemed to be the lower of (a) an amount equal to the stated or determinable amount of the primary obligation in respect of which such Guarantee Obligation is made and (b) the maximum amount for which such guaranteeing person may be liable pursuant to the terms of the instrument embodying such Guarantee 
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Obligation, unless such primary obligation and the maximum amount for which such guaranteeing person may be liable are not stated or determinable, in which case the amount of such Guarantee Obligation shall be such guaranteeing person’s maximum reasonably anticipated liability in respect thereof as determined by the Pre-Export Borrower in good faith.
SECTION 116.“Hedge Agreements”:  all swaps, caps or collar agreements or similar arrangements dealing with interest rates or currency exchange rates or the exchange of nominal interest obligations, either generally or under specific contingencies.
SECTION 117.“High-Risk Country”:  any of Cuba, Iran, North Korea, Sudan or Syria. 
SECTION 118.“IFRS”:  international accounting standards within the meaning of IAS Regulation 1606/2002 to the extent applicable to the relevant financial statements.
SECTION 119.“Indebtedness”:  as to any Person, without duplication, (a) all obligations of such Person for borrowed money, (b) all obligations of such Person evidenced by bonds, debentures, notes, cédulas de produto rural or other similar instruments, (c) all obligations of such Person to pay the deferred purchase price of property, except trade accounts payable arising in the ordinary course of business, (d) all obligations of such Person as lessee which are capitalized in accordance with IFRS, (e) all obligations of such Person created or arising under any conditional sales or other title retention agreement with respect to any property acquired by such Person (including without limitation, obligations under any such agreement which provides that the rights and remedies of the seller or lender thereunder in the event of default are limited to repossession or sale of such property), (f) all obligations of such Person with respect to letters of credit and similar instruments, including without limitation obligations under reimbursement agreements, (g) all Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) a Lien on any asset of such Person, whether or not such Indebtedness is assumed by such Person and (h) all Guarantee Obligations of such Person (other than guarantees of obligations of direct or indirect Subsidiaries of such Person). 
SECTION 120.“Indemnified Taxes”: (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of any obligation of any Pre-Export Borrower under any Pre-Export Loan Document and (b) to the extent not otherwise described in (a), Other Taxes.
SECTION 121.“ING”:   as defined in the preamble. 
SECTION 122.“Initial Pre-Export Commitment Period”:  the period from and including the Conversion Date and ending on the earlier of (a) the date that is thirty (30) days after the Conversion Date or (b) the date of termination of the Pre-Export Commitments in accordance with the terms hereof. 
SECTION 123.“Initial Pre-Export Drawdown Date”:  the date during the Initial Pre-Export Commitment Period on which the Initial Pre-Export Loans shall be made to the Pre-Export Borrowers hereunder subject to satisfaction of all conditions precedent set forth in 
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Section 4.1, as requested by the Pre-Export Borrower Representative in the Pre-Export Borrowing Request.
SECTION 124.“Initial Pre-Export Loans”:  the initial loans made by the Pre-Export Lenders to the Pre-Export Borrowers during the Initial Pre-Export Commitment Period which must be made on a single date and in an amount of no less than [●]% of the Total Pre-Export Commitments as of the Initial Pre-Export Drawdown Date. 
SECTION 125.“Interest Coverage Ratio”:  on any date of determination, with respect to the Pre-Export Borrowers on a consolidated basis, the ratio of (a) Adjusted IFRS EBITDA (converted to Dollars by using the median Dollars/Reais exchange rate, based on daily observations, set forth on a source reasonably acceptable to the Pre-Export Administrative Agent calculated for the four fiscal quarter period most recently ended to (b) Net Interest Expense for the four fiscal quarter period most recently ended (converted to Dollars by using the median Dollars/Reais exchange rate, based on daily observations, set forth on a source reasonably acceptable to the Pre-Export Administrative Agent calculated for such four fiscal quarter period).
SECTION 126.“Interest Expense”:  with respect to any Person, for any period, the aggregate amount of the interest, commission, fees, discounts, prepayment fees, premiums or charges and other finance payments in respect of Indebtedness for that period according to IFRS only to the extent it has a cash effect and: 
i.including the interest (but not the capital) element of payments in respect of lease or hire purchase contract which would, in accordance with IFRS, be treated as a finance or capital lease; 
ii.including interest payments in respect of tax refinancing programs offered by Brazilian Governmental Authorities to which the Pre-Export Borrowers may have adhered under Brazilian law;
iii.including interest, commission, fees, discounts, prepayment fees, premiums or charges and other finance payments in respect of contingent liabilities of such Person if not already included otherwise in any of the other paragraphs of this definition;
iv.taking no account of any unrealized gains or losses on any derivative instruments other than any derivative instruments which are accounted for on a hedge accounting basis; and
v.taking no account of any exchange and monetary variances, 
provided that there is no double counting in any calculation hereof.
SECTION 127.“Interest Payment Date”:  (a) as to any Pre-Export Loan having an Interest Period of three months or less, the last day of such Interest Period, (b) as to any Pre-Export Loan having an Interest Period longer than three months, each day that is three months, or a whole multiple thereof, after the first day of such Interest Period and the last day of such Interest Period and (c) as to any Pre-Export Loan, the date of any repayment or prepayment made in respect thereof.
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SECTION 128.“Interest Period”:  as to any Pre-Export Loan, (a) initially, the period commencing on the date of the borrowing with respect to such Pre-Export Loan, and ending on the first three month anniversary of Revolving Closing Date; and (b) thereafter, each period commencing on the last day of the immediately preceding Interest Period applicable to such Pre-Export Loan, and ending three months thereafter; provided, that all of the foregoing provisions relating to Interest Periods are subject to the following:
(i)    if any Interest Period would otherwise end on a day that is not a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless the result of such extension would be to carry such Interest Period into another calendar month in which event such Interest Period shall end on the immediately preceding Business Day;
(ii)    no Interest Period may extend beyond the Pre-Export Maturity Date; and
(iii)    any Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of a calendar month.
SECTION 129.“IPO”:  initial public offering of equity interests to be further traded on an exchange.
SECTION 130.“Ituiutaba”: as defined in the preamble.
SECTION 131.“Itumbiara”: as defined in the preamble.
SECTION 132.“Judgment Currency”:  as defined in Section 2.18(b).
SECTION 133.“LIBO Rate”:  with respect to any Pre-Export Loan denominated in Dollars for each day during each Interest Period the rate per annum equal to the London interbank offered rate administered by ICE Benchmark Administration Limited, or a comparable or successor rate, which rate is approved by the Pre-Export Administrative Agent, as published on the applicable Reuters screen page (or such other commercially available source providing such quotations as may be designated by the Pre-Export Administrative Agent from time to time after consultation with the Pre-Export Borrower Representative) at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period, for Dollars deposits (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period; provided that to the extent a comparable or successor rate is approved by the Pre-Export Administrative Agent in connection herewith, the approved rate shall be applied in a manner consistent with market practice and provided that if any such rate shall as determined above be a negative number the “LIBO Rate” shall be deemed to be zero; provided further, that, to the extent that an interest rate is not ascertainable pursuant to the foregoing provisions of this definition, the “LIBO Rate” shall be the rate at which the Pre-Export Administrative Agent offers to place deposits in the currency of such borrowing for such Interest Period to major banks in the London interbank market at approximately 11:00 a.m., London time, two (2) Business Days prior to the commencement of such Interest Period.  
SECTION 134.“Lien”:  with respect to any asset, (a) any mortgage, deed of trust, lien, pledge, encumbrance, charge, assignment (alienação fiduciária or cessão 
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fiduciária) or security interest in or on such asset and (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention agreement relating to such asset.
SECTION 135.“Market Value”:  with respect to an Assigned Export Contract, (a) if such Assigned Export Contract has a fixed price per metric ton of Goods to be sold thereunder, the amount of the metric tons to be sold thereunder, multiplied by the fixed price according to the price clause set forth therein and (b) if such Assigned Export Contract does not have a fixed price per metric ton of the Goods to be sold thereunder, the amount of metric tons to be sold thereunder, multiplied by the quotation of the relevant Goods as of the date of calculation, being such quotation obtained by the Pre-Export Collateral Agent on the basis of the corresponding market information as provided by the price clause set forth in such Assigned Export Contract, provided, however, that if no specific price clause is contemplated by such Assigned Export Contract, then the quotation shall be obtained by the Pre-Export Collateral Agent (in its sole discretion) from any market rates and price quotations publicly available or prepared by public or private institution reasonably selected by the Pre-Export Collateral Agent and related to the international trade of the relevant Goods.
SECTION 136.“Material Adverse Effect”:  (a) a material adverse effect on the business, property, operations, condition (financial or otherwise) or prospects of the Pre-Export Loan Parties taken as a whole or (b) a material impairment of the validity or enforceability of this Agreement or any of the other Pre-Export Loan Documents or the rights or remedies of the Pre-Export Administrative Agent or the Pre-Export Lenders against any Pre-Export Loan Party.
SECTION 137.“Money Laundering Laws”:  as defined in Section 5.3(h)(i).
SECTION 138.“Mortgage Deeds”:  [●].
SECTION 139.“National Monetary Council”:  Conselho Monetário Nacional.
SECTION 140.“Net Debt”:  on any date of determination, with respect to any Person, the result of (i) “Third Party Borrowings” (as set forth in the Current and Non-current section of the consolidated financial statements, which for the avoidance of doubt shall include all obligations for borrowed money under credit facilities extended by financial institutions, all obligations evidenced by bonds and all obligations for non-subordinated borrowed money extended by such Person’s unconsolidated Affiliates) minus (ii) such Person’s Cash and Cash Equivalents.
SECTION 141.“Net Debt/Total Assets Ratio”:  for any date of determination, with respect to the Pre-Export Borrowers on a consolidated basis, the ratio of (a) the Net Debt of the Pre-Export Borrowers at such date (converted to Dollars by using the closing Dollars/Reais exchange rate set forth on a source reasonably acceptable to the Pre-Export Administrative Agent on the same “as of date” of the financial statements) to (b) the “Total Assets” (as set forth in the balance sheet statement, line “Total Assets” in the consolidated financial statements) of the Pre-Export Borrowers on a consolidated basis in accordance with 
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IFRS at such date (converted to Dollars by using the closing Dollars/Reais exchange rate as of December 31, 2017 set forth on a source reasonably acceptable to the Pre-Export Administrative Agent). 
SECTION 142.“Net Interest Expense”:  with respect to any Person, for any period, (a) such Person’s Interest Expense minus (b) such Person’s interest income, excluding any derivatives and exchange and monetary variances.
SECTION 143.“Note”:  each promissory note governed by and construed in accordance with the laws of Brazil, substantially in the form and having the content of Exhibit E hereto, duly executed by the relevant Pre-Export Borrower of a Pre-Export Loan, and acknowledged and guaranteed by each other Pre-Export Borrower and issued to the appropriate Pre-Export Lender(s) and otherwise in compliance with the requirements of Section 2.19.
SECTION 144.“Obligations”:  the unpaid principal of and interest on (including interest accruing after the maturity of the Pre-Export Loans and interest accruing after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to the Pre-Export Borrowers, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding) the Pre-Export Loans and all other obligations and liabilities of the Pre-Export Borrowers to the Pre-Export Credit Parties, whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out of, or in connection with, this Agreement, any other Pre-Export Loan Document or any other document made, delivered or given in connection herewith or therewith, whether on account of principal, interest, reimbursement obligations, fees, indemnities, costs, expenses (including all fees, charges and disbursements of counsel to the Pre-Export Administrative Agent or to any Pre-Export Lender that are required to be paid by the Pre-Export Borrowers pursuant hereto) or otherwise.
SECTION 145.“OECD Country”:  at any time, any nation that is a member of the Organization of Economic Cooperation and Development at such time.
SECTION 146.“OFAC”:  as defined in the definition of “Sanctions”.
SECTION 147.“Off-Shore SugarCo”: an entity wholly-owned by Usina Moema Acucar e álcool S.A., to be formed outside of Brazil on or prior to the Conversion Date.
SECTION 148.“Offtake Contract Value to Debt Service Coverage Ratio”: for any date of determination, with respect to the Pre-Export Borrowers on a consolidated basis, the ratio of (a) the Debt Service at such date to (b) the sum of (i) [●]% of the Market Value of Assigned Export Contracts entered into between Off-Shore SugarCo and Eligible Importers with a fixed price per metric ton of Goods to be sold thereunder, plus (ii) [●]% of the Market Value of Assigned Export Contracts entered into between Off-Shore SugarCo and Eligible Importers with a floating price per metric ton of Goods to be sold thereunder.
SECTION 149.“Onshore Collateral Agent”: Rabobank Brasil.
SECTION 150.“Original Pre-Export Maturity Date”:  the Revolving Maturity Date (as defined in the Revolving Credit Agreement immediately prior to Conversion). 
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SECTION 151.“Original Assignment and Security Agreement”: the Assignment and Security Agreement dated on or prior to the Conversion Date, in form and substance reasonably satisfactory to the Pre-Export Collateral Agent.
SECTION 152.“Other Connection Taxes”:  with respect to any Recipient, Taxes imposed as a result of a present or former connection between such Recipient and the jurisdiction imposing such Tax (other than connections arising from such Recipient having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Pre-Export Loan Document, or sold or assigned an interest in any Pre-Export Loan or Pre-Export Loan Document).
SECTION 153.“Other Taxes”:  any and all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes arising from any payment made hereunder or from the execution, delivery or enforcement of, or otherwise with respect to, this Agreement or any other Pre-Export Loan Document, except any such Taxes that are Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 2.17).
SECTION 154.“Parent”: BP Bunge Bioenergia S.A., organized and domiciled in Brazil.
SECTION 155.“Parent Group”: Parent and each direct or indirect Subsidiary of Parent.
SECTION 156.“Participant”:  as defined in Section 8.6(b).
SECTION 157.“Participant Register”:  as defined in Section 8.6(b).
SECTION 158.“Patriot Act”:  as defined in Section 8.17. 
SECTION 159.“Perfection Requirements”:   the making or the procuring of the appropriate registrations, filings, endorsements, notarizations, stampings, agreements (including assignments of proceeds) and/or notifications required in order to perfect those Liens on the Collateral created or expressed to be created pursuant to this Agreement and the Security Documents, including the requirements set out in Section 5.1(q) (Collateral).
SECTION 160.“Performing Pre-Export Lender”:  any Pre-Export Lender that is a Defaulting Pre-Export Lender solely as a result of the occurrence of an event described in clause (d) of the definition of Defaulting Pre-Export Lender that following such event continues to perform all of its obligations under this Agreement and any other Pre-Export Loan Document, and has not been replaced or repaid in accordance with Section 2.17(b).
SECTION 161.“Permitted Liens”:  each of:
vi.customary permitted Liens existing on the Conversion Date (or, with respect to Tropical, Ituiutaba and Itumbiara, on the Fourth Amendment Effective Date) that do not affect the rights of the Pre-Export Agents and the Pre-Export Lenders or the value of the Collateral;
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vii.any Lien existing on any property or asset (including, without limitation, Capital Stock) prior to the acquisition thereof by any Pre-Export Borrower or any of their Subsidiaries or existing on any property or asset of any Person that becomes a Subsidiary of any Pre-Export Borrower or any of their Subsidiaries after the Conversion Date prior to the time such Person becomes a Subsidiary of any Pre-Export Borrower or any of its Subsidiaries or arising as a result of contractual commitments to grant any Lien on any property or asset (including, without limitation, Capital Stock) existing prior to such acquisition; provided that (i) such Lien is not created in contemplation of, or in connection with, such acquisition or such Person becoming a Subsidiary, as the case may be; and (ii) such Lien shall secure only those obligations which it secures on the date of such acquisition or the date such Person becomes a Subsidiary, as the case may be;
viii.Liens for taxes, assessments, governmental charges, levies or claims (including Liens to secure appeal bonds), which are not yet due or can be paid in the future without penalty or are being contested in good faith and by proper proceedings and for which appropriate reserves have been established in accordance with and as required by IFRS;
ix.Liens in connection with workers’ compensation laws, unemployment insurance laws or similar applicable legislation;
x.Liens to secure good faith deposits in connection with bids, tenders, contracts (other than for the payment of indebtedness) or leases to which a Pre-Export Borrower is a party or deposits for the payment of rent, in each case made in the ordinary course of business of such Pre-Export Borrower;
xi.easements, rights of way, restrictions, defects or irregularities in title and other similar charges or encumbrances not interfering in any material respect with the business of the Pre-Export Borrowers, and any leases and subleases of real property that do not interfere in any material respect with the ordinary conduct of the business of the Pre-Export Borrowers, and which are made on customary and usual terms applicable to similar properties; 
xii.Liens imposed by applicable law in the ordinary course of business, including carriers’, warehousemen’s and mechanics’ liens, statutory landlord’s liens, that do not in the aggregate materially detract from the value of the property subject thereto or interfere in any material respect with the business of the Pre-Export Borrowers;
xiii.Liens granted to secure any borrowing from (i) Banco Nacional de Desenvolvimento Econômico e Social – BNDES or any other Brazilian governmental development bank or credit agency or any financial institution acting as agent for such development bank, but only to the extent acting in its agency capacity therefor or in its capacity as agente de repasse (including borrowings from any Brazilian governmental bank with funds provided by Brazilian governmental regional funds (which shall include, without limitation, Financiadora de Estudos e Projetos – FINEP, Fundo de Desenvolvimento do Nordeste – FDNE and Fundo de Desenvolvimento do Centro Oeste – FCO)), or (ii) any international or multilateral development bank, government-sponsored agency, export-import bank or official export-import credit insurer;
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xiv.judgment Liens and other Liens in respect of legal proceedings (including Liens to secure bonds posted in order to obtain stays of judgment, attachments or orders) not triggering any Event of Default provided that each such Lien is being contested in good faith and by proper proceedings and for which appropriate reserves have been established in accordance with and as required by IFRS;
xv.Liens securing hedging obligations so long as such hedging obligations are entered into for bona fide, non-speculative purposes; 
xvi.any extension, renewal or replacement (or successive extensions, renewals or replacements), in whole or in part, of any Lien set forth in this definition, except for the Lien permitted under clause (c) of this definition; 
xvii.Liens created solely for the purpose of securing the payment of all or a part of the purchase price of property (including Capital Stock of any Person) acquired, constructed or improved after the date hereof; provided that (i) the aggregate principal amount of Indebtedness secured by such Liens shall not exceed the purchase price of the property so acquired, constructed or improved, and (ii) such Liens shall not encumber any property other than the property so acquired, constructed or improved and shall attach to such property within 180 days of the construction, acquisition or improvement of such property;
xviii.any Lien securing Indebtedness for the purpose of financing all or part of cost of the acquisition, construction or development of a project; provided that the Liens in respect of such Indebtedness are limited to assets (including Capital Stock of the project entity) and/or revenues of such project; and provided further that the Lien is incurred before, or within 180 days after the completion of, that acquisition, construction or development and does not apply to any other property of the relevant Person; 
xix.Liens securing Credit Agreement Refinancing Indebtedness;
xx.Liens on Export Contracts (other than Assigned Export Contracts) and Export Receivables (other than Assigned Export Receivables);
xxi.Liens on cash deposited as collateral in connection with financings where Liens are permitted under clause (o) of this definition;
xxii.Liens on accounts receivable (other than Assigned Export Receivables) and other related assets arising in connection with transfers thereof to the extent such transfers are treated as true sales; 
xxiii.Liens granted under the Pre-Export Loan Documents;
xxiv.Liens on any checking account, saving account, clearing account, futures account, deposit account, securities account, brokerage account, custody account or other account (or on any assets held in such account), securing obligations under any agreement or arrangement related to the opening of or provision of clearing, pooling, zero-balancing, brokerage, settlement, margin or other services related to such account (or on any assets held in such account), which customarily exist on similar accounts (or on any assets held in such accounts) of corporations in 
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connection with the opening of, or provision of clearing, pooling, zero-balancing, brokerage, settlement, margin or other services related, to such accounts;
xxv.Liens incurred in connection with letters of credit or other similar instruments issued in the normal course of business of any Pre-Export Borrower or any Subsidiary, including without limitation, obligations under reimbursement agreements;
xxvi.Liens securing Permitted Working Capital Indebtedness; provided that such Liens shall not be over the Collateral; and
xxvii.Liens existing on the property registered under [●].
“Permitted Intercompany Indebtedness”: as defined in Section 5.3(b).
“Permitted Shareholder Indebtedness”: as defined in Section 5.3(b).
SECTION 162.“Permitted Working Capital Indebtedness”: as defined in Section 5.3(b).
SECTION 163.“Person”:  an individual, partnership, corporation, limited liability company, business trust, joint stock company, trust, unincorporated association, joint venture, Governmental Authority or other entity of whatever nature.
SECTION 164.“Pre-Approved Controlling Shareholder”: as defined in the Framework Agreement.
SECTION 165.“Pre-Export Administrative Agent”:  SMBC, together with its Affiliates, in its capacity as the administrative agent for the Pre-Export Lenders under this Agreement and the other Pre-Export Loan Documents, together with any of its successors.
SECTION 166.“Pre-Export Agents”:  each of the Pre-Export Administrative Agent, the Pre-Export Collateral Agent and the Onshore Collateral Agent, and “Pre-Export Agent” means all of them, collectively. 
SECTION 167.“Pre-Export Borrower” and “Pre-Export Borrowers”:  as defined in the preamble hereto.
SECTION 168.“Pre-Export Borrower Representative”: Usina Moema Acucar e álcool S.A.
SECTION 169.“Pre-Export Borrowing Date”:  any Business Day specified by the Pre-Export Borrower Representative as a date on which a Pre-Export Borrower requests the Pre-Export Lenders to make Pre-Export Loans hereunder or to take assignments of Existing Pre-Export Loans pursuant to the Framework Agreement.
SECTION 170.“Pre-Export Borrowing Request”:  as defined in Section 2.2.
SECTION 171.“Pre-Export Borrowing Time”:  as defined in Section 2.2.
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SECTION 172.“Pre-Export Collateral Agent”:  Rabobank Brasil, together with its Affiliates, in its capacity as the collateral agent for the Pre-Export Lenders under this Agreement and the other Pre-Export Loan Documents, together with any of its successors.
SECTION 173.“Pre-Export Commitment”:  as to any Pre-Export Lender, the obligation of such Pre-Export Lender to either make Pre-Export Loans or to take assignments of Existing Pre-Export Loans pursuant to the Framework Agreement in an aggregate principal amount equal to such Pre-Export Lender’s Revolving Credit Agreement Commitment or the amount specified in the Assignment and Acceptance pursuant to which such Pre-Export Lender became a party hereto, in each case, as the same may be increased or reduced from time to time pursuant to the terms hereof. 
SECTION 174.“Pre-Export Commitment Fee Rate”:  the per annum rate set forth in the applicable row of the table below:
						
	Total Net Leverage Ratio	Spread
	Category 1	[●]%
	Category 2	[●]%
	Category 3	[●]%
	Category 4	[●]%

SECTION 175.
SECTION 176.“Pre-Export Commitment Period”:  the period from and including the Conversion Date and ending on the earlier of (a) the date that is twelve (12) months prior to the Pre-Export Maturity Date or (b) the date of termination of the Pre-Export Commitments in accordance with the terms hereof.
SECTION 177.“Pre-Export Credit Parties”:  collectively, the Pre-Export Lenders, the Pre-Export Agents, the Pre-Export Joint Bookrunners and Pre-Export Joint Lead Arrangers, in each of their respective capacities under the Pre-Export Loan Documents, and their successors and permitted assigns.
SECTION 178.“Pre-Export Drawdown Date”:  each date during the Pre-Export Commitment Period on which the Pre-Export Loans shall be made to a Pre-Export Borrower hereunder subject to satisfaction of all conditions precedent set forth in Section 4.1 or Section 4.2 (as applicable), as requested by the Pre-Export Borrower Representative in a Pre-Export Borrowing Request.
SECTION 179.“Pre-Export Guarantors”: (i) on and after the Initial Pre-Export Drawdown Date, Off-Shore SugarCo, (ii) on and after the Fourth Amendment Effective Date, the Parent and (iii) the Subsidiaries of the Pre-Export Borrower that are not wholly owned by the Pre-Export Borrowers that shall be required to execute and deliver the Pre-Export Guaranty pursuant to Section 5.1(t)(ii).
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SECTION 180.“Pre-Export Guaranty”: each guaranty agreement by a Pre-Export Guarantor in form and substance reasonably acceptable to the Pre-Export Administrative Agent and the Pre-Export Lenders.
SECTION 181.“Pre-Export Joint Bookrunners”:  SMBC, ABN and ING as joint bookrunners.
SECTION 182.“Pre-Export Joint Lead Arrangers”: SMBC, ABN and ING as joint lead arrangers.
SECTION 183.“Pre-Export Lender Affiliate”: (a) any Affiliate of any Pre-Export Lender, (b) any Person that is administered or managed by any Pre-Export Lender or any Affiliate of any Pre-Export Lender and that is engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its business and (c) with respect to any Pre-Export Lender which is a fund that invests in commercial loans and similar extensions of credit, any other fund that invests in commercial loans and similar extensions of credit and is managed or advised by the same investment advisor as such Pre-Export Lender or by an Affiliate of such Pre-Export Lender or investment advisor.
SECTION 184.“Pre-Export Lenders”:  as defined in the preamble hereto.
SECTION 185.“Pre-Export Loan”:  any loan made by any Pre-Export Lender pursuant to this Agreement or any assignment of Existing Pre-Export Loan taken by any Pre-Export Lender pursuant to the Framework Agreement.
SECTION 186.“Pre-Export Loan Documents”:  this Agreement, the Framework Agreement, each Note, each Security Document, each Assignment and Acceptance, each Pre-Export Borrowing Request, each Fee Letter, each Pre-Export Guaranty, and other documents and/or agreements delivered or entered into in connection with the foregoing.
SECTION 187.“Pre-Export Loan Parties”: the Pre-Export Borrowers, Off-Shore SugarCo and the Pre-Export Guarantors.
SECTION 188.“Pre-Export Maturity Date”:  the Original Pre-Export Maturity Date or, in respect of Consenting Pre-Export Lenders (and Replacement Pre-Export Lenders, if applicable), if the extension option under Section 2.20 has been exercised, the Extension Pre-Export Maturity Date, as applicable.
SECTION 189.“Pre-Export Senior Mandated Lead Arranger”: Rabobank, as senior mandated lead arranger.
SECTION 190.“Pre-Export Taxes”:  as defined in Section 3.20(b).
SECTION 191.“Principal Repayment Date”:  as defined in Section 2.6(a).
“Properties”:  [●].
SECTION 192.“Rabobank”: as defined in the Preamble hereto.
SECTION 193.“Rabobank Brasil”: as defined in the Preamble hereto.
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SECTION 194.“Rate of Exchange”:  as of the relevant date, the rate of exchange set forth on the relevant page of the Reuters screen on or about 11:00 a.m., New York time, for the purchase of Dollars with Reais or another currency other than Dollars or Reais or another currency other than Dollars with Dollars on such date.
SECTION 195.“Reais”, “Brazilian Reais” and “R$”:  the lawful currency of Brazil.
SECTION 196.“Recipient”:  (a) any Pre-Export Agent, (b) any Pre-Export Lender and (c) any other recipient of a payment under this Agreement.
SECTION 197.“Refinanced Debt”: as defined in the definition of “Credit Agreement Refinancing Indebtedness”.
SECTION 198.“Register”:  as defined in Section 8.6(d).
SECTION 199.“Regulation U”:  Regulation U of the Board as in effect from time to time.
SECTION 200.“Replacement Pre-Export Lender”: as defined in Section 2.20(e)
SECTION 201.“Required Pre-Export Lenders”:  at any time, the holders of more than [●]% of the Aggregate Exposure Percentage.
SECTION 202.“Requirement of Law”:  as to any Person, the Governing Documents of such Person, and any law, treaty, rule or regulation or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such Person or any of its property or to which such Person or any of its property is subject.
SECTION 203.“Responsible Officer”:  as to any Person, any member of the Board of Directors, the Chief Executive Officer, the President, the Chief Financial Officer, the Treasurer or any Vice President of such Person or any other officer of such Person customarily performing functions similar to those performed by any of the above-designated officers.
SECTION 204.“Restricted Party”:  any person listed (a) in the Annex to the Executive Order, (b) on the "Specially Designated Nationals and Blocked Persons" list maintained by OFAC or (c) in any successor list to either of the foregoing.
SECTION 205.“Restricted Payment”:  any payment or other distribution (whether in cash, securities or other property) by a Person, directly or indirectly, (a) of any dividend or other distribution on its Capital Stock or any interest on its capital, (b) in respect of the purchase, acquisition, redemption, retirement, defeasance or other acquisition for value of any of its Capital Stock or any warrants, rights or options to acquire such Capital Stock, now or hereafter outstanding, (c) in respect of the return of any capital, or in the form of an advance of Indebtedness of such Person, to its stockholders, (d) in connection with any distribution or exchange of property in respect of its Capital Stock, warrants, rights, options, obligations or 
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securities to or with its stockholders as such, or (e) in return for any irrevocable equity contributions, other than non-redeemable Capital Stock.
SECTION 206.“Revolving Closing Date”:  the date of the Revolving Credit Agreement, which is May 1, 2018.
SECTION 207.“Revolving Credit Agreement”:  the Revolving Credit Agreement dated as of May 1, 2018 among Bunge Limited Finance Corp., Bunge Limited and SMBC and the other lenders and agents party thereto. 
SECTION 208.“Revolving Credit Agreement Commitment”:  with respect to each Revolving Lender under the Revolving Credit Agreement, the amount of such Revolving Lender’s commitment to extend loans under the Revolving Credit Agreement immediately preceding the Conversion. 
SECTION 209.“Revolving Lender”:  each lender under the Revolving Credit Agreement.
SECTION 210.“ROF”:  each electronic registry of the financial terms and conditions of a Pre-Export Loan identified by a code number obtained by or on behalf of a Pre-Export Borrower prior to disbursement of such Pre-Export Loan through the Central Bank of Brazil Information System - SISBACEN, under the Module Registry of Financial Transaction (“Módulo de Registro de Operação Financeira - ROF”), in accordance with the regulations issued by the National Monetary Council and the Central Bank of Brazil.
SECTION 211.“Sanctions”:  any applicable economic sanctions laws, regulations, embargoes or restrictive measures administered, enacted or enforced by: (i) the United States government; (ii) the United Nations; (iii) the European Union; (iv) the United Kingdom; (v) Brazil, (vi) the relevant authorities of Switzerland; (vii) the member states of the European Union; or (viii) the respective governmental institutions and agencies of any of the foregoing, including without limitation, the Office of Foreign Assets Control of the US Department of the Treasury (“OFAC”), the United States Department of State, and Her Majesty’s Treasury (together, “Sanctions Authorities”).
SECTION 212.“Sanctions Authorities”:  has the meaning given to it in the definition of “Sanctions”.
SECTION 213.“Sanctions List”:  the “Specially Designated Nationals and Blocked Persons” list issued by OFAC, the Consolidated List of Financial Sanctions Targets issued by Her Majesty’s Treasury, or any similar applicable list issued or maintained or made public by any of the Sanctions Authorities.
SECTION 214.“Security Documents”:  each Assignment and Security Agreement, each Collateral Account Control Agreement, the Collateral Account Security Agreement, the Brazilian Security Documents and each other document or instrument which creates or evidences or which is expressed to create or evidence any Lien granted or required to be granted pursuant to the Pre-Export Loan Documents. 
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SECTION 215.“Shipping Documents”:  with respect to any Assigned Export Receivable or any Export Receivable with respect to which the relevant Eligible Importer makes payments thereunder into a Collateral Account, a clean on board ocean bill of lading, an invoice and a bill of exchange or negotiable instrument in the amount of the relevant Export Receivable drawn on the Eligible Importer or otherwise due by such Eligible Importer and all other documentation required for payment of the relevant Assigned Export Receivable under the relevant Assigned Export Contract.
SECTION 216.“SMBC”:   as defined in the preamble. 
SECTION 217.“Solvent”:  with respect to any Person on a particular date, that on such date (a) the fair value of the property of such Person is greater than the total amount of liabilities, including, without limitation, contingent liabilities, of such Person, (b) the present fair salable value of the assets of such Person is not less than the amount that will be required to pay the probable liability of such Person on its debts as they become absolute and matured, (c) such Person does not intend to, and does not believe that it will, incur debts or liabilities beyond such Person’s ability to pay such debts and liabilities as they mature and (d) such Person is not engaged in business or a transaction, and is not about to engage in business or a transaction, for which such Person’s property would constitute an unreasonably small capital.  The amount of contingent liabilities at any time shall be computed as the amount that, in the light of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability.
SECTION 218.“Subordination Agreement”: a Subordination Agreement, substantially in the form of Exhibit F.
SECTION 219.“Subsequent Pre-Export Commitment Period”:  provided that the Pre-Export Borrowers have borrowed the Initial Pre-Export Loans, the period from and after termination of the Initial Pre-Export Commitment Period in accordance with clause (a) of the definition thereof and ending on the earlier of (a) the date that is twelve (12) months prior to the Pre-Export Maturity Date or (b) the date of termination of the Pre-Export Commitments in accordance with the terms hereof.
SECTION 220.“Subsidiary”:  as to any Person, a corporation, partnership, limited liability company or other entity of which shares of stock or other ownership interests having ordinary voting power (other than stock or such other ownership interests having such power only by reason of the happening of a contingency) to elect a majority of the board of directors or other managers of such corporation, partnership or other entity are at the time owned directly or indirectly through one or more intermediaries, or both, by such Person.  Unless otherwise qualified, all references to a “Subsidiary” or to “Subsidiaries” in this Agreement shall refer to a Subsidiary or Subsidiaries of a Pre-Export Borrower.
SECTION 221.“Sugar Cane”:  the sugar cane and sugar cane roots located on the areas identified in a schedule to be delivered to the Pre-Export Collateral Agent as a condition to Conversion under the Framework Agreement or on any update to such schedule delivered to the Pre-Export Collateral Agent from time to time, including whatever funds or 
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property that is hereafter received upon the sale, exchange or disposition of any such sugar cane or sugar cane roots. 
SECTION 222.“Sugar Cane Pledge Agreement”: each Sugar Cane Pledge Agreement (Contrato de Penhor Rural de Cana-de-Açúcar) to be entered into by and among the Pre-Export Loan Parties and the Onshore Collateral Agent, as amended from time to time, providing for a first ranking pledge of the Sugar Cane (subject to Permitted Liens) described therein, in each case, in form and substance satisfactory to the Pre-Export Lenders and the Onshore Collateral Agent.
SECTION 223.“SugarCo COC Event”:  the occurrence of Bunge Limited ceasing to hold, directly or indirectly, including by way of IPO, beneficial ownership of equity interests representing more than [●]% of the aggregate voting power of the Voting Stock of each Pre-Export Borrower.
SECTION 224.“Taxes”:  all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto.
SECTION 225.“Total Net Leverage Ratio”:  on any date of determination, with respect to the Pre-Export Borrowers on a consolidated basis, the ratio of (a) Net Debt of the Pre-Export Borrowers at such date (converted to Dollars by using the closing Dollars/Reais exchange rate set forth on a source reasonably acceptable to the Pre-Export Administrative Agent on the same “as of date” of the financial statements) to (b) Adjusted IFRS EBITDA for the four fiscal quarter period most recently ended (converted to Dollars by using the median Dollars/Reais exchange rate, based on daily observations, as per a source reasonably acceptable to the Pre-Export Administrative Agent calculated for such four fiscal quarter period).
SECTION 226.“Total Pre-Export Commitments”:  at any time, the aggregate amount of all Pre-Export Lenders’ Pre-Export Commitments then in effect.
SECTION 227.“Total Pre-Export Loans”:  at any time, the aggregate principal amount of the Pre-Export Loans of the Pre-Export Lenders outstanding at such time.
SECTION 228.“Transferee”:  any Assignee or Participant.
SECTION 229.“Tropical”: as defined in the preamble.
SECTION 230.“United States”:  the United States of America.
SECTION 231.“U.S. Tax Obligor”: a Person (a) which is resident for tax purposes in the United States or (b) some or all of whose payments under the Pre-Export Loan Documents are from sources within the United States for U.S. federal income tax purposes.
SECTION 232.“Voting Stock”:  with respect to any Person as of any date, the Capital Stock of such Person that is at the time entitled to vote in the election of the Board of Directors of such Person.
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SECTION 233.“Waiver of Voting Rights”: a Waiver of Voting Rights, substantially in the form of Exhibit G.
SECTION 234.“Weighted Average Life to Maturity”: when applied to any Indebtedness as of any date, the number of years obtained by dividing (1) the sum of the products obtained by multiplying (a) the amount of each then remaining installment, sinking fund, serial maturity or other required payment of principal (excluding nominal amortization and any prepayments), including payment at final maturity, in respect thereof by (b) the number of years (calculated to the nearest 1/12) that will elapse between such date and the making of such payment; by (2) the then outstanding principal amount of such Indebtedness. 
SECTION 235.“Withholding Pre-Export Agent”:  the Pre-Export Borrowers and the Pre-Export Administrative Agent.
SECTION 236.“Write-Down and Conversion Powers”:  with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule.
a.Other Definitional Provisions
.    Unless otherwise specified therein, all terms defined in this Agreement shall have the defined meanings when used in the other Pre-Export Loan Documents or any certificate or other document made or delivered pursuant hereto or thereto.
1.As used herein and in the other Pre-Export Loan Documents, and any certificate or other document made or delivered pursuant hereto or thereto, (i) accounting terms relating to the Pre-Export Borrowers not defined in Section 1.1 and accounting terms partly defined in Section 1.1, to the extent not defined, shall have the respective meanings given to them under IFRS, (ii) the words “include”, “includes” and “including” shall be deemed to be followed by the phrase “without limitation”, (iii) the word “incur” shall be construed to mean incur, create, issue, assume, become liable in respect of or suffer to exist (and the words “incurred” and “incurrence” shall have correlative meanings), (iv) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, Capital Stock, securities, revenues, accounts, leasehold interests and contract rights, and (v) references to agreements or other Contractual Obligations shall, unless otherwise specified, be deemed to refer to such agreements or Contractual Obligations as amended, supplemented, restated or otherwise modified from time to time (subject to any restrictions on such amendments, supplements, restatements or modifications set forth herein).
2.The words “hereof”, “herein” and “hereunder” and words of similar import, when used in this Agreement, shall refer to this Agreement as a whole 
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and not to any particular provision of this Agreement, and Section, Schedule and Exhibit references are to this Agreement unless otherwise specified.
3.The meanings given to terms defined herein shall be equally applicable to both the singular and plural forms of such terms.
4.Notwithstanding any other provision contained herein or in the other Pre-Export Loan Documents, all terms of an accounting or financial nature used herein and in the other Pre-Export Loan Documents shall be construed, and all computations of amounts and ratios referred to herein and in the other Pre-Export Loan Documents shall be made, and prepared:
v.in accordance with IFRS (including principles of consolidation where appropriate), and all accounting or financial terms shall have the meanings ascribed to such terms by IFRS; provided, however, that all accounting terms used in the Pre-Export Loan Documents (and all defined terms used in the definition of any accounting term used in the Pre-Export Loan Documents) shall have the meaning given to such terms (and defined terms) under IFRS as in effect on the date hereof applied on a basis consistent with those used in preparing the financial statements referred to herein and in the other Pre-Export Loan Documents.  In the event of any change after the date hereof in IFRS, and if such change would affect the computation of any of the financial covenants set forth in any Pre-Export Loan Document, then the parties hereto agree to endeavor, in good faith, to agree upon an amendment to the applicable Pre-Export Loan Documents that would adjust such financial covenants in a manner that would preserve the original intent thereof, but would allow compliance therewith to be determined in accordance with the Pre-Export Borrowers’ or any of their Subsidiaries’ financial statements at the time, provided that, until so amended such financial covenants shall continue to be computed in accordance with IFRS prior to such change therein; and
vi.without giving effect to any election under Statement of Financial Accounting Standards 159 (or any other Financial Accounting Standard having a similar result or effect) to value any Indebtedness or other liabilities of the Pre-Export Borrowers or any of their Subsidiaries at “fair value”, as defined therein.
    Notwithstanding the foregoing or anything to the contrary set forth herein, to the extent a change in IFRS occurs (whether or not such change is, as of the date hereof, already scheduled to occur after the date hereof) which results in operating leases being treated or classified as capital leases or which reclassifies capital leases using different terminology (e.g., as “finance leases”), such change shall not be given effect under the Pre-Export Loan Documents (including, without limitation, in any computation of financial covenants), and the Pre-Export Borrowers shall continue to provide financial reporting which differentiates between operating leases and capital leases, in each case in accordance with IFRS as in effect on the date hereof.

SECTION 237.AMOUNT AND TERMS OF TERM LOANS
a.Pre-Export Commitments; Term Loans
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.    Subject to the terms and conditions hereof, each Pre-Export Lender severally agrees to make (whether by means of any new loan or by taking an assignment of Existing Pre-Export Loans pursuant to the Framework Agreement) (x) each Initial Pre-Export Loan to each applicable Pre-Export Borrower on a single borrowing date during the Initial Pre-Export Commitment Period and (y) further Pre-Export Loans to the Pre-Export Borrowers from time to time during the Subsequent Pre-Export Commitment Period, in an aggregate Dollar principal amount at any one time outstanding for all of such Pre-Export Loans pursuant to this clause (a) which does not exceed the amount of such Pre-Export Lender’s Pre-Export Commitment.  The Pre-Export Borrowers shall not request and no Pre-Export Lender shall be required to make any Pre-Export Loan if, after making such Pre-Export Loan, the Total Pre-Export Loans would exceed the Total Pre-Export Commitments then in effect.  For the avoidance of doubt, the parties agree that as of the date hereof, no Pre-Export Loans have been made or reallocated to Tropical, Ituiutaba or Itumbiara.
5.The Pre-Export Administrative Agent is hereby authorized by the Pre-Export Borrowers and each Pre-Export Lender to register with the Central Bank of Brazil the respective repayment schedule (esquema de pagamento) of each Pre-Export Loan to a Pre-Export Borrower after the conditions precedent set forth in Section 4.1 or Section 4.2 (as applicable) are satisfied and the Pre-Export Borrowers shall provide to the Pre-Export Administrative Agent all documents and information required therefor, including, without limitation, login details and the pin number required therefor. 
b.Procedure for Pre-Export Loan Borrowing
.  The Pre-Export Borrowers may borrow under the Pre-Export Commitments (whether by means of any new loan or by  assignment of Existing Pre-Export Loans pursuant to the Framework Agreement) (x) in respect of the Initial Pre-Export Loans, during the Initial Pre-Export Commitment Period on the Initial Pre-Export Drawdown Date and (y) in respect of all other Pre-Export Loans, during the Subsequent Pre-Export Commitment Period on each other Pre-Export Drawdown Date; provided, that the Pre-Export Borrower Representative shall give the Pre-Export Administrative Agent irrevocable notice (which notice must be received by the Pre-Export Administrative Agent prior to 10:00 a.m., New York City time, three (3) Business Days prior to the requested Pre-Export Drawdown Date) specifying (i) the applicable Pre-Export Borrower borrowing the Pre-Export Loan, (ii) the amount of the Pre-Export Loans to be borrowed and in the event of an assignment of Pre-Export Loans pursuant to the Framework Agreement, the amount of the Pre-Export Loans being assigned, the identity of the assignor of such Pre-Export Loans and the other information required to be provided under the Framework Agreement and (iii) the requested Pre-Export Drawdown Date (such notice shall be referred to herein as the “Pre-Export Borrowing Request”); provided, further, that the amount of each Pre-Export Loan to be borrowed or the amount of each Existing Pre-Export Loan to be assigned must be in an amount greater than $[●].  Upon receipt of any such Pre-Export Borrowing Request from the Pre-Export Borrower Representative, the Pre-Export Administrative Agent shall promptly notify each Pre-Export Lender thereof.  Each Pre-Export Lender will make its pro rata share of the Pre-Export Loans requested available to the Pre-Export Administrative Agent for the account of the applicable Pre-Export Borrower at the Funding Office prior to 11:00 a.m., New 
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York City time (the “Pre-Export Borrowing Time”), on the applicable Pre-Export Drawdown Date, in each case in funds immediately available in Dollars to the Pre-Export Administrative Agent, and the Pre-Export Administrative Agent shall transfer the amounts to the Funding Account on or before 2:00 p.m., New York City time, on the applicable Pre-Export Drawdown Date.
c.Pre-Export Commitment Fees, etc
.    The Pre-Export Borrowers jointly and severally agree to pay to the Pre-Export Administrative Agent, for the account of the Pre-Export Administrative Agent, the Pre-Export Joint Lead Arrangers and for the account of the Pre-Export Lenders, respectively, the fees in the amounts and on the dates previously agreed to in the Fee Letter. 
6.The Pre-Export Borrowers jointly and severally agree to pay to the Pre-Export Administrative Agent for the account of each Pre-Export Lender (other than a Defaulting Pre-Export Lender that is not a Performing Pre-Export Lender) a commitment fee in Dollars for the period from and including the date hereof to the last day of the Pre-Export Commitment Period, computed at a rate per annum equal to for each day during such period the Pre-Export Commitment Fee Rate on such day, on the amount of the Available Pre-Export Commitment of such Pre-Export Lender on such day, payable quarterly in arrears on the last day of each of March, June, September and December and on the last day of the Pre-Export Commitment Period.
d.Termination or Reduction of Pre-Export Commitments
.  The Pre-Export Borrower Representative shall have the right, upon irrevocable notice delivered to the Pre-Export Administrative Agent, to terminate the Pre-Export Commitments or, from time to time, to reduce the amount of the Pre-Export Commitments; provided, that no such termination or reduction of Pre-Export Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Pre-Export Loans made on the effective date thereof, the Total Pre-Export Loans would exceed the Total Pre-Export Commitments.  Any such reduction shall be in an amount equal to at least $[●] or any larger whole multiple thereof, and shall reduce permanently the Pre-Export Commitments then in effect. The Pre-Export Commitments shall terminate in their entirety on the last day of the Initial Pre-Export Commitment Period if the Initial Pre-Export Loans have not been made on or before such date.
e.Prepayments
.    The Pre-Export Borrowers may at any time and from time to time voluntarily prepay the Pre-Export Loans, in whole or in part, without premium or penalty, upon irrevocable notice delivered to the Pre-Export Administrative Agent no later than 10:00 a.m., New York City time, five (5) Business Days prior thereto.  The notice referred to in the preceding sentence shall specify the date and amount of prepayment; provided, that if a Pre-Export Loan is prepaid on any day other than the last day of the Interest Period applicable thereto, the Pre-Export Borrowers shall also pay any amounts owing pursuant to Section 2.14.  Upon receipt of any such notice the Pre-Export Administrative Agent shall promptly notify each relevant Pre-Export Lender thereof.  If 
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any such notice is given, the amount specified in such notice shall be due and payable on the date specified therein, together with accrued interest to such date on the amount prepaid.  Partial prepayments of Pre-Export Loans shall be in an aggregate principal amount equal to at least $[●]  (or the Dollar Equivalent thereof) or any larger whole multiple thereof.  Amounts prepaid may not be re-borrowed. 
7.If any Pre-Export Borrower incurs any debt obligations for borrowed money after the Initial Pre-Export Drawdown Date, other than Indebtedness permitted pursuant to Sections 5.3(b)(ii), (iii), (iv) and (v), such Pre-Export Borrower shall prepay the Pre-Export Loans or, if requested by such Pre-Export Borrower, the Pre-Export Lenders shall assign a pro rata percentage of all of the Pre-Export Loans to the lender or other creditor that provides such debt obligation in an amount equal to the aggregate net cash proceeds of such debt obligations.  Any such prepayment or assignment of Pre-Export Loans pursuant to this Section 2.5(b) shall be made together with accrued interest to the date of such prepayment or assignment on the amount prepaid or assigned, and the Pre-Export Borrowers shall also pay any amounts owing pursuant to Section 2.14.
8.If (1) the Pre-Export Borrowers or any of their Subsidiaries dispose of any property or assets (other than any disposition of any property or assets permitted by Section 5.3(f) of this Agreement) or (2) any Casualty Event occurs, in each case which results in the realization or receipt by the Pre-Export Borrowers or such Subsidiaries of net cash proceeds, the Pre-Export Borrowers shall cause to be prepaid on or prior to the date which is ten (10) Business Days after the date of such realization or receipt by the Pre-Export Borrowers or any Subsidiary of such net cash proceeds, subject to clause (e) of this Section 2.5, an aggregate principal amount of Pre-Export Loans in an amount equal to [●]% of all such net cash proceeds realized or received; provided that, at the option of the Pre-Export Borrower, such Pre-Export Borrower may use all or any portion of such net cash proceeds to acquire, maintain, develop, construct, improve, upgrade or repair assets useful in the business of the Pre-Export Borrower within 6 months of such receipt, and such net cash proceeds shall not be required to be prepaid except to the extent not, within 6 months of such receipt, so used or contractually committed to be so used (it being understood that if any portion of such proceeds are not so used within such 6-month period but within such 6-month period are contractually committed to be used, then upon the termination of such contract or if such net cash proceeds are not so used within such 6-month period or, if later, 180 days from the entry into such contractual commitment, then such remaining portion shall be required to be prepaid without giving effect to this proviso);
9.Each prepayment or assignment of Pre-Export Loans pursuant to clauses (b) and (c) above (A) shall be applied ratably to each Pre-Export Loan then outstanding, (B) shall be applied as a pro rata reduction of the quarterly principal payments and final principal payment required under Section 2.6(a) based on the percentage that the aggregate net cash proceeds from the debt obligations for borrowed money or net cash proceeds from asset disposition or Casualty Event, as applicable, represent of the aggregate outstanding balance of the Pre-Export Loans at the time of such prepayment or assignment of Pre-Export Loans and (C) shall be paid to the applicable Pre-Export Lenders in accordance with their respective pro rata share (or other applicable share provided by this Agreement) of each such Pre-Export Loans.  
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10.The Pre-Export Borrower Representative shall notify the Pre-Export Administrative Agent in writing of any mandatory prepayment of Pre-Export Loans required to be made by the Pre-Export Borrowers pursuant to clauses (b) and (c) above (and any request for the Pre-Export Lenders to assign a pro rata percentage of all of the Pre-Export Loans to the lender or other creditor that provides a debt obligation) at least three (3) Business Days prior to the date of such prepayment (unless otherwise agreed by the Pre-Export Administrative Agent).  Each such notice shall specify the date of such prepayment or assignment, the subsection pursuant to which such prepayment or assignment is being made, and provide a reasonably detailed calculation of the aggregate amount of such prepayment or purchase price of the assignment to be made by the Pre-Export Borrowers or, in the case of an assignment of Pre-Export Loans, to be paid by the lender or other creditor that provides a debt obligation.  The Pre-Export Administrative Agent will promptly notify each applicable Pre-Export Lender of the contents of the Pre-Export Borrower Representative’s prepayment or assignment notice and of such applicable Pre-Export Lender’s pro rata share of the prepayment or assignment.
11.If, on any date, the Total Pre-Export Loans outstanding on such date exceed the Total Pre-Export Commitments in effect on such date, the Pre-Export Borrowers immediately shall prepay the Pre-Export Loans in the amount of such excess.  Each such prepayment pursuant to this clause (f) (A) shall be applied ratably to each Pre-Export Loan then outstanding and (B) shall be paid to the applicable Pre-Export Lenders in accordance with their respective pro rata share (or other applicable share provided by this Agreement) of each such Pre-Export Loans.  
12.On or after the Conversion Date, the Pre-Export Borrower Representative shall provide at least sixty (60) days prior written notice to the Pre-Export Administrative Agent (which shall promptly provide a copy of such notice to each Pre-Export Lender) of a SugarCo COC Event that results from a Direct Sale of a controlling ownership interest in the Pre-Export Borrower Representative to a Controlling Shareholder that is not either (x) a Pre-Approved Controlling Shareholder or (y) a Controlling Shareholder from whom the Revolving Lenders had the opportunity prior to the Conversion Date to request documentation required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations in accordance with Section 2.3(e) of the Framework Agreement.  Following the receipt of such notice, each Pre-Export Lender shall be given a period commencing on the date such notice is received and ending fifteen (15) Business Days prior to the proposed effective date of the SugarCo COC Event to review all documentation and other information about such Controlling Shareholder(s) as has been reasonably requested in writing by such Pre-Export Lender from the Controlling Shareholder(s) that is required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations (as such rules and regulations may apply to a beneficial owner of a bank borrower), including without limitation the Patriot Act.  In the event that any Pre-Export Lender notifies the Pre-Export Borrower Representative and the Pre-Export Administrative Agent in writing prior to the end of such review period that such Controlling Shareholder(s) do not comply with its “know your customer” or anti-money laundering requirements, then the Pre-Export Borrowers shall prepay all Pre-Export Loans owed to such Pre-Export Lender, together with accrued interest to the date of such prepayment on the amount prepaid and any amounts owing pursuant to Section 2.14, on 
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or prior to the effective date of the SugarCo COC Event, and the Pre-Export Commitment of such Pre-Export Lender shall terminate.
f.Repayment
. 
13.The Pre-Export Borrowers shall repay to the Pre-Export Administrative Agent for the ratable account of the applicable Pre-Export Lenders (A) subject to Conversion having occurred, on the date that is twelve (12) months prior to the Pre-Export Maturity Date (or on the immediately preceding Business Day if such day is not a Business Day) and on each three-month anniversary thereof (or on the immediately preceding Business Day if such day is not a Business Day), an aggregate principal amount equal to [●]% of the aggregate principal amount of all Pre-Export Loans outstanding as of such date and (B) the outstanding principal amount of each Pre-Export Loan in full on the Pre-Export Maturity Date (each payment described in clauses (A) and (B) a “Principal Repayment Date”); provided, that for the avoidance of doubt, any amortization of outstanding principal shall commence (x) with respect to Pre-Export Loans made by the Declining Pre-Export Lenders on the date that is twelve (12) months prior to the Original Pre-Export Maturity Date (or on the immediately preceding Business Day if such day is not a Business Day) or (y) with respect to Pre-Export Loans made by the Consenting Pre-Export Lenders and Replacement Pre-Export Lenders on the date that is twelve (12) months prior to the Extension Pre-Export Maturity Date (or on the immediately preceding Business Day if such day is not a Business Day).  
14.The parties hereto acknowledge and agree that the intended primary mechanism for the repayment of the principal of the Pre-Export Loans shall be through the sale of and export of Goods by the Pre-Export Borrowers and Off-Shore SugarCo directly to the Eligible Importers under Export Contracts and the payment, in each case, by such Eligible Importers in respect of the related Export Receivables directly into the Collateral Accounts.  The proceeds of such payments made to and all other funds received in the Collateral Accounts shall be applied against the principal amount of the Pre-Export Loans, interest due thereon and any fees or other payments due under the Credit Documents as set forth in paragraphs (c) and (d) below.  The Pre-Export Borrowers and Off-Shore SugarCo shall be permitted at any time to (i) instruct the relevant Eligible Importers to pay amounts of Export Receivables that are not Assigned Export Receivables into the Collateral Accounts or (ii) transfer to the Collateral Accounts any portion of the proceeds received by any Pre-Export Borrower or Off-Shore SugarCo from Eligible Importers in respect of Export Receivables that are not Assigned Export Receivables, so long as, before any payment is made into the Collateral Accounts by the relevant Eligible Importers or by the relevant Pre-Export Borrower or Off-Shore SugarCo pursuant to clauses (i) and (ii), as the case may be, the Pre-Export Borrowers shall deliver to the Pre-Export Administrative Agent, the Pre-Export Collateral Agent and the Onshore Collateral Agent copies of all documents required by the regulations issued by the National Monetary Council and the Central Bank of Brazil and any other applicable law in connection with payments under a Recebimento Antecipado de Exportação (including, without limitation, the export registry (registro de exportação) relating to 
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the Goods sold in connection with the relevant Export Receivables the proceeds of which are being deposited into the Collateral Accounts).
15.During each Calculation Period, the Pre-Export Collateral Agent shall hold all funds received into the Collateral Accounts from or on behalf of the Pre-Export Borrowers, Off-Shore SugarCo or any Eligible Importer for application on the Principal Repayment Date, Interest Payment Date or other date on which payments of fees or other amounts are due under the Pre-Export Loan Documents falling during such Calculation Period until the Collateral Accounts contain an amount in the aggregate equal to the principal and interest on the Pre-Export Loans and other payments falling due during such Calculation Period.  If at any time during any Calculation Period the aggregate amounts on deposit in the Collateral Accounts exceed the aggregate amount of principal and interest on the Pre-Export Loans and other payments falling due during such Calculation Period, then the Pre-Export Borrower Representative shall have the right to request that such excess amounts received in the Collateral Accounts during the relevant Calculation Period be released in accordance with its written instructions; provided that:
vii.the Pre-Export Borrower Representative shall have delivered to the Pre-Export Collateral Agent and the Pre-Export Administrative Agent a certificate signed by a Responsible Officer thereof, at least two (2) Business Days prior to the proposed release date setting forth in reasonable detail the calculations evidencing the Pre-Export Borrowers’ compliance with their obligations under this Section 2.6(c) and Section 5.4, in each case, both before and immediately after giving effect to such release;
viii.no Default or Event of Default shall have occurred and be continuing at such time or will occur as a result of such release; and
ix.the Pre-Export Administrative Agent shall have given its express consent to such release, which consent shall not be unreasonably denied, delayed or withheld (for the avoidance of doubt, the Pre-Export Administrative Agent shall grant its consent without the need to notify or obtain any express or other consent from any of the Pre-Export Lenders if each of the conditions set forth in paragraphs (i) and (ii) of this Section 2.6(c) has been satisfied by the Pre-Export Borrowers).
In the event the Pre-Export Administrative Agent expressly consents pursuant to Section 2.6(c) to a release request from the Pre-Export Borrower Representative in accordance with this Section 2.6(c), then the Pre-Export Administrative Agent shall instruct the other Agents accordingly and take the necessary steps to effect the consented release as soon as reasonably practical.
16.In the absence of an Event of Default, on each Principal Repayment Date, Interest Payment Date, and/or other dates on which amounts under the Pre-Export Loan Documents are due, the Pre-Export Collateral Agent shall transfer the funds collected into and still held in the Collateral Accounts to the Pre-Export Administrative Agent for payment of the principal, interest or other fees or payments due with respect to that Principal Repayment Date, Interest Payment Date and/or other applicable due dates.  
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17.All amounts received in each Collateral Account shall be held therein subject to the rights as provided in the applicable Collateral Account Control Agreement.
18.In the event that any installment of principal, interest due thereon, or any other amount in respect of the Pre-Export Loans or any other Obligation is not paid when due, or if any portion of principal or interest due on any Principal Repayment Date and/or Interest Payment Date remains unpaid, the Pre-Export Borrowers shall immediately pay such amount to the Pre-Export Administrative Agent for the benefit of the Pre-Export Credit Parties and the Pre-Export Lenders may demand payment thereof under the Notes.
19.To the extent not previously paid, all due and unpaid principal amount of the Pre-Export Loans and all other Obligations then due and payable shall be paid in full in Dollars by the Pre-Export Borrowers on each applicable Principal Repayment Date, Interest Payment Date or other due date, as applicable, irrespective of, and together with, any Indemnified Taxes, Other Taxes and other charges that may arise by reason of the payment of any such amounts not being made with proceeds of Export Receivables.  The Pre-Export Borrowers’ obligation to repay the Pre-Export Loans and to pay all interest accruing thereon and all other Obligations when due is and shall remain unconditional irrespective of the existence or lack of Export Receivables or export sales of any other product by the Pre-Export Borrowers or Off-Shore SugarCo.
20.Each Pre-Export Borrower acknowledges and agrees that any funds collected into and held in the Collateral Accounts may be applied by the Pre-Export Administrative Agent against the principal amount of any Pre-Export Loans owed by any Pre-Export Borrower, interest due thereon and any fees or other payments due under the Pre-Export Loan Documents regardless of the commingling of such funds and the absence of traceability of such funds to any particular Pre-Export Borrower.
21.No later than five (5) Business Days after the date on which any Shipping Documents are issued with respect to Goods delivered in respect of Assigned Export Receivables the applicable Pre-Export Borrower or Off-Shore SugarCo shall deliver to the Pre-Export Administrative Agent copies of all such Shipping Documents pertaining to the delivery of such Goods.
22.Notwithstanding anything to the contrary in this Agreement or any other Pre-Export Loan Document, the Pre-Export Collateral Agent shall be entitled to block, suspend or reject individual payments made to the Collateral Accounts if it reasonably believes that any such payment is from any Person named on a Sanctions List or related to sales of Products received by any Person named on a Sanctions list.
23.While an Event of Default is continuing, upon written instructions from the Pre-Export Administrative Agent, the Pre-Export Collateral Agent shall apply or direct the application of any cash balance then on deposit in the Collateral Accounts to the payment of any of the Obligations then due and unpaid (including any amounts accelerated), all as set forth in the instructions from the Pre-Export Administrative Agent.
g.Continuation of Interest Period
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.  Each Pre-Export Loan shall be automatically continued as such upon the expiration of the then current Interest Period with respect thereto with a new Interest Period to be applicable to such Pre-Export Loan in accordance with the defined term “Interest Period.”
h.Interest Rates and Payment Dates
.    Except as provided in Section 2.8(b), each Pre-Export Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to (i) the LIBO Rate determined for such day plus (ii) the Applicable Margin.  The Applicable Margin shall be established on the first day of each Interest Period based on the Total Net Leverage Ratio on such date.  In the event of an adjustment to the Applicable Margin, the applicable Pre-Export Borrower shall amend the ROF with respect to each outstanding Pre-Export Loan made to such Pre-Export Borrower.
24.During the continuance of an Event of Default all outstanding Pre-Export Loans (whether or not overdue) shall bear interest at a rate per annum equal to the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus [●]%.  If all or a portion of any interest payable on any Pre-Export Loan or any commitment fee or other amount payable hereunder (other than any amount to which the preceding sentence is applicable) shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the interest rate then applicable to the Pre-Export Loans plus [●]% from the date of such nonpayment until such amount is paid in full (as well after as before judgment).
25.Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (b) of this Section shall be payable from time to time on demand.
i.Computation of Interest and Fees
.    Interest and fees payable pursuant hereto shall be calculated on the basis of a 360-day year for the actual days elapsed, and fractions less than one (1) cent shall be rounded up.  The Pre-Export Administrative Agent shall as soon as practicable notify the Pre-Export Borrowers and the relevant Pre-Export Lenders of each determination of a LIBO Rate.  Interest shall accrue on each Pre-Export Loan for the day on which the Pre-Export Loan is made, and shall not accrue on any Pre-Export Loan (or portion of a Pre-Export Loan) for the day on which such Pre-Export Loan is paid.  For purposes of calculating accrued interest on all Pre-Export Loans, interest shall accrue on the first day of each Interest Period, but not the last day of such period. 
26.Each determination of an interest rate by the Pre-Export Administrative Agent pursuant to any provision of this Agreement shall be conclusive and binding on the Pre-Export Borrowers and the Pre-Export Lenders in the absence of manifest error.  The Pre-Export Administrative Agent shall, at the request of any Pre-Export Borrower, deliver to the Pre-Export Borrower Representative a statement showing the quotations used by the Pre-Export Administrative Agent in determining any interest rate pursuant to Sections 2.8(a) and (b).
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j.Inability to Determine Interest Rate
.  If prior to the first day of any Interest Period for a Pre-Export Loan:
27.the Pre-Export Administrative Agent shall have determined (which determination shall be conclusive and binding upon the Pre-Export Borrowers) that, by reason of circumstances affecting the relevant market, adequate and reasonable means do not exist for ascertaining the LIBO Rate for such Interest Period, or
28.the Pre-Export Administrative Agent shall have received notice from the Required Pre-Export Lenders that the LIBO Rate determined or to be determined for such Interest Period will not adequately and fairly reflect the cost to such Pre-Export Lenders (as conclusively certified by such Pre-Export Lenders) of making or maintaining their affected Pre-Export Loans during such Interest Period,
the Pre-Export Administrative Agent shall give telecopy or telephonic notice thereof to the Pre-Export Borrower Representative and the relevant Pre-Export Lenders as soon as practicable thereafter.  If such notice is given, the Pre-Export Loans subject to such notice shall bear interest at such rate as the Pre-Export Administrative Agent reasonably determines adequately reflects the costs to the Pre-Export Lenders of maintaining such Pre-Export Loans.  
k.Pro Rata Treatment and Payments
.    Each Pre-Export Loan from the Pre-Export Lenders hereunder shall be made pro rata according to the respective Pre-Export Commitments of the Pre-Export Lenders.  Except as otherwise provided in Section 2.5(g) and Section 2.17(b), from and excluding the Conversion Date, any reduction of the Pre-Export Commitments of the Pre-Export Lenders shall be made pro rata according to the respective Pre-Export Commitments of the Pre-Export Lenders.  Each payment by the Pre-Export Borrowers on account of any commitment fee with respect to any period shall be made pro rata according to the respective average daily Available Pre-Export Commitments of the Pre-Export Lenders for such period; provided, that the Pre-Export Borrowers shall not be obligated to pay any commitment fee owed to a Pre-Export Lender with respect to any period during which such Pre-Export Lender became a Defaulting Pre-Export Lender and such Defaulting Pre-Export Lender’s Available Pre-Export Commitment shall not be included in the calculation of the commitment fees owed to the Pre-Export Lenders that are not Defaulting Pre-Export Lenders during such period.  
29.Except as otherwise provided in Section 2.5(g) and Section 2.17(b), each payment by the Pre-Export Borrowers on account of principal of and interest on the Pre-Export Loans shall be made pro rata according to the respective outstanding principal amounts of the Pre-Export Loans then held by the Pre-Export Lenders.
30.All payments (including prepayments) to be made by the Pre-Export Borrowers hereunder, whether on account of principal, interest, fees or otherwise, shall be made without setoff or counterclaim and shall be made prior to 12:00 Noon, New York City time, on the due date thereof to the Pre-Export Administrative Agent, for the account of the Pre-Export Lenders, 
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at the Funding Office, in Dollars in immediately available funds.  The Pre-Export Administrative Agent shall distribute such payments to the Pre-Export Lenders promptly upon receipt in like funds as received.  If any payment (other than interest payments on the Pre-Export Loans) becomes due and payable on a day other than a Business Day, the maturity thereof shall be extended to the next succeeding Business Day unless the result of such extension would be to extend such payment into another calendar month, in which event such payment shall be made on the immediately preceding Business Day.  In the case of any extension of any payment of principal pursuant to the preceding sentence, interest thereon shall be payable at the then applicable rate during such extension. 
31.Unless the Pre-Export Administrative Agent shall have been notified in writing by any Pre-Export Lender prior to the Pre-Export Borrowing Time on a Pre-Export Drawdown Date that such Pre-Export Lender will not make the amount that would constitute its share of such borrowing on such date available to the Pre-Export Administrative Agent, the Pre-Export Administrative Agent may assume that such Pre-Export Lender has made such amount available to the Pre-Export Administrative Agent on such Pre-Export Drawdown Date, and the Pre-Export Administrative Agent may, but shall not be so required to, in reliance upon such assumption, make available to the Pre-Export Borrowers a corresponding amount.  If such amount is not made available to the Pre-Export Administrative Agent by the required time on such Pre-Export Drawdown Date, and if the Pre-Export Administrative Agent makes such corresponding amount available to the applicable Pre-Export Borrower, then such Pre-Export Lender shall pay to the Pre-Export Administrative Agent, on demand, such amount with interest thereon, at a rate determined by the Pre-Export Administrative Agent in accordance with banking industry rules on interbank compensation, for the period until such Pre-Export Lender makes such amount immediately available to the Pre-Export Administrative Agent.  A certificate of the Pre-Export Administrative Agent submitted to any Pre-Export Lender with respect to any amounts owing under this paragraph shall be conclusive in the absence of manifest error.  If the Pre-Export Administrative Agent makes such Pre-Export Lender’s share of such borrowing available to the applicable Pre-Export Borrower, and if such Pre-Export Lender’s share of such borrowing is not made available to the Pre-Export Administrative Agent by such Pre-Export Lender within three (3) Business Days after such Pre-Export Drawdown Date, the Pre-Export Administrative Agent shall also be entitled to recover such amount with interest thereon at the rate per annum applicable to such Pre-Export Loans, on demand, from such Pre-Export Borrower.  The failure of any Pre-Export Lender to make any Pre-Export Loan on a Pre-Export Drawdown Date shall not relieve any other Pre-Export Lender of its obligation hereunder to make a Pre-Export Loan on such Pre-Export Drawdown Date pursuant to the provisions contained herein, but no Pre-Export Lender shall be responsible for the failure of any other Pre-Export Lender to make the Pre-Export Loan to be made by such other Pre-Export Lender on a Pre-Export Drawdown Date.
32.Unless the Pre-Export Administrative Agent shall have been notified in writing by the Pre-Export Borrower Representative prior to the date of any payment due to be made by a Pre-Export Borrower hereunder that such Pre-Export Borrower will not make such payment to the Pre-Export Administrative Agent, the Pre-Export Administrative Agent may assume that such Pre-Export Borrower is making such payment, and the Pre-Export Administrative Agent may, but shall not be required to, in reliance upon such assumption, make available to the Pre-
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Export Lenders their respective pro rata shares of a corresponding amount.  If such payment is not made to the Pre-Export Administrative Agent by such Pre-Export Borrower within three (3) Business Days after such due date, the Pre-Export Administrative Agent shall be entitled to recover, on demand, from each Pre-Export Lender to which any amount which was made available pursuant to the preceding sentence, such amount with interest thereon at the rate per annum applicable to the relevant Pre-Export Loans.  Nothing herein shall be deemed to limit the rights of the Pre-Export Administrative Agent or any Pre-Export Lender against any Pre-Export Borrower.
33.If at any time insufficient funds are received by and available to the Pre-Export Administrative Agent to pay fully all amounts of principal,  interest, fees or other amounts (with respect to increased costs, Taxes or otherwise) then due under any Pre-Export Loan Document, such funds shall be applied (i) first, toward payment of fees and other right of indemnification (with respect to increased costs, Taxes or otherwise) due and payable, ratably among the parties entitled thereto in accordance with such amounts then due to such parties, (ii) second, toward payment of accrued and unpaid interest, (iii) third, toward payment of principal on the Pre-Export Loans, in the order determined by the Pre-Export Administrative Agent if not otherwise set forth hereunder, (iv) fourth, toward the discharge of any other amounts due and payable by the Pre-Export Borrowers under any Pre-Export Loan Document and (v) fifth, any surplus shall be paid, provided that the Pre-Export Borrowers are in full compliance with the terms and conditions of the Pre-Export Loan Documents, as the Pre-Export Borrower Representative may direct in writing; provided that while a Default or Event of Default is continuing, the Pre-Export Administrative Agent shall retain such surplus until further disposition in accordance with the terms hereof; provided further that this Section 2.11(f)(v) shall not require the Pre-Export Administrative Agent or the Pre-Export Collateral Agent to release or cause the release of funds deposited in the Collateral Accounts other than in accordance with Section 2.6(c) or (d). 
l.Requirements of Law
.    If the adoption of or any change in any Requirement of Law or in the interpretation or application thereof or compliance by any Pre-Export Lender with any request or directive (whether or not having the force of law) from any central bank or other Governmental Authority made subsequent to the date hereof (a “Change in Law”):
x.shall subject any Pre-Export Lender to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses (b) through (c) of the definition of Excluded Taxes and (C) Connection Income Taxes) with respect to this Agreement or on any Pre-Export Loan made by it;
xi.shall impose, modify or hold applicable any reserve, special deposit, compulsory loan or similar requirement against assets held by, deposits or other liabilities in or for the account of, advances, loans or other extensions of credit by, or any other acquisition of funds by, any office of such Pre-Export Lender that is not otherwise included in the determination of the LIBO Rate; or
xii.shall impose on such Pre-Export Lender any other condition (other than Taxes);
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and the result of any of the foregoing is to increase the cost to such Pre-Export Lender, by an amount that such Pre-Export Lender deems to be material, of making or maintaining any Pre-Export Loans or to reduce any amount receivable hereunder in respect thereof, then, in any such case, the Pre-Export Borrowers shall promptly pay such Pre-Export Lender, upon its demand, any additional amounts necessary to compensate such Pre-Export Lender for such increased cost or reduced amount receivable.  If any Pre-Export Lender becomes entitled to claim any additional amounts pursuant to this paragraph, it shall promptly notify the Pre-Export Borrower Representative (with a copy to the Pre-Export Administrative Agent) of the event by reason of which it has become so entitled.
34.If any Pre-Export Lender shall have determined that the adoption of or any change in any Requirement of Law regarding capital adequacy or in the interpretation or application thereof or compliance by such Pre-Export Lender or any corporation controlling such Pre-Export Lender with any request or directive regarding capital adequacy (whether or not having the force of law) from any Governmental Authority made subsequent to the date hereof shall have the effect of reducing the rate of return on such Pre-Export Lender’s or such corporation’s capital as a consequence of its obligations hereunder to a level below that which such Pre-Export Lender or such corporation could have achieved but for such adoption, change or compliance (taking into consideration such Pre-Export Lender’s or such corporation’s policies with respect to capital adequacy) by an amount deemed by such Pre-Export Lender to be material, then from time to time, after submission by such Pre-Export Lender to the Pre-Export Borrower Representative (with a copy to the Pre-Export Administrative Agent) of a written request therefor, the Pre-Export Borrowers shall pay to such Pre-Export Lender such additional amount or amounts as will compensate such Pre-Export Lender or such corporation for such reduction; provided that the Pre-Export Borrowers shall not be required to compensate a Pre-Export Lender pursuant to this paragraph for any amounts incurred more than six months prior to the date that such Pre-Export Lender notifies the Pre-Export Borrower Representative of such Pre-Export Lender’s intention to claim compensation therefor; and provided further that, if the circumstances giving rise to such claim have a retroactive effect, then such six month period shall be extended to include the period of such retroactive effect. 
35.A certificate as to any additional amounts payable pursuant to this Section 2.12 submitted by any Pre-Export Lender to the Pre-Export Borrower Representative (with a copy to the Pre-Export Administrative Agent) shall be conclusive in the absence of manifest error.  The obligations of the Pre-Export Borrowers pursuant to this Section shall survive the termination of this Agreement and the payment of the Pre-Export Loans and all other amounts payable hereunder.
36.Notwithstanding anything herein to the contrary (i) all requests, rules, guidelines, requirements and directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or by United States or foreign regulatory authorities, in each case pursuant to Basel III and Basel IV, (ii) the Dodd-Frank Wall Street Reform and Consumer Protection Act and (iii) CRD IV/CRR and all requests, rules, guidelines, requirements and directives thereunder or issued in connection therewith or in 
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implementation thereof, shall in each case be deemed to be a change in Requirements of Law, regardless of the date enacted, adopted, issued or implemented.
m.Taxes
.    All payments made by or on behalf of any Pre-Export Borrower under this Agreement or any other Pre-Export Loan Document shall be made free and clear of, and without deduction or withholding for or on account of, any Taxes; provided, that if any Taxes are required to be deducted or withheld from any amounts payable to the Pre-Export Administrative Agent or any Pre-Export Lender, as determined in good faith by the applicable Withholding Pre-Export Agent, (x) the applicable Withholding Pre-Export Agent shall be entitled to make such deduction or withholding and shall timely pay the amount deducted or withheld to the relevant Governmental Authority in accordance with applicable law and (y) if such Tax is an Indemnified Tax, then the sum payable by the Pre-Export Borrowers to the Pre-Export Administrative Agent or such Pre-Export Lender shall be increased to the extent necessary so that after such deduction or withholding has been made (including such deductions and withholdings applicable to additional sums payable under this Section), the Pre-Export Administrative Agent or such Pre-Export Lender receives an amount equal to the sum it would have received had no such withholding or deduction been made.
37.In addition, the Pre-Export Borrowers shall timely pay to the relevant Governmental Authority in accordance with applicable law, or at the option of the Pre-Export Administrative Agent timely reimburse it for the payment of, any Other Taxes.
38.Whenever any Indemnified Taxes are payable by a Pre-Export Borrower, as promptly as possible thereafter the applicable Pre-Export Borrower shall send to the Pre-Export Administrative Agent for its own account or for the account of the relevant Pre-Export Lender, as the case may be, a certified copy of an original official receipt received by such Pre-Export Borrower showing payment thereof, a copy of the tax return reporting such payment or other evidence of such payment reasonably satisfactory to the Pre-Export Administrative Agent.
39.The Pre-Export Borrowers shall jointly and severally indemnify each Recipient, within ten (10) days after demand therefor, for any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this Section) payable or paid by such Recipient or required to be withheld or deducted from a payment to such Recipient and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority.  A certificate setting forth in reasonable detail the amount of, calculation of and circumstances giving rise to such payment or liability delivered to the Pre-Export Borrower Representative by a Pre-Export Lender (with a copy to the Pre-Export Administrative Agent), or by the Pre-Export Administrative Agent on its own behalf or on behalf of a Pre-Export Lender, shall be conclusive absent manifest error.
40.Each Pre-Export Lender shall indemnify the Pre-Export Administrative Agent, within ten (10) days after demand therefor, for the full amount of (i) any Indemnified Taxes or Other Taxes that are attributable to such Pre-Export Lender and that are payable or paid by the 
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Pre-Export Administrative Agent (but only to the extent that Pre-Export Borrowers have not already indemnified the Pre-Export Administrative Agent for such Indemnified Taxes or Other Taxes and without limiting the obligation of the Pre-Export Borrowers to do so), and (ii) any Taxes attributable to such Pre-Export Lender’s failure to comply with the provisions of Section 8.6(b) relating to the maintenance of a Participant Register, together with all reasonable costs and expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority.  A certificate as to the amount of such payment or liability delivered to any Pre-Export Lender by the Pre-Export Administrative Agent shall be conclusive absent manifest error.  Each Pre-Export Lender hereby authorizes the Pre-Export Administrative Agent to set off and apply any and all amounts at any time owing to such Pre-Export Lender under any Pre-Export Loan Document or otherwise payable by the Pre-Export Administrative Agent to the Pre-Export Lender from any other source against any amount due to the Pre-Export Administrative Agent under this paragraph (e).
41.Any Pre-Export Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments made under any Pre-Export Loan Document shall deliver to the Pre-Export Borrower Representative and the Pre-Export Administrative Agent, at the time or times reasonably requested by the Pre-Export Borrower Representative or the Pre-Export Administrative Agent, such properly completed and executed documentation reasonably requested by the Pre-Export Borrower Representative or the Pre-Export Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding.  In addition, any Pre-Export Lender, if reasonably requested by the Pre-Export Borrower Representative or the Pre-Export Administrative Agent, shall deliver such other documentation prescribed by applicable law or reasonably requested by the Pre-Export Borrower Representative or the Pre-Export Administrative Agent as will enable the Pre-Export Borrower Representative or the Pre-Export Administrative Agent to determine whether or not such Pre-Export Lender is subject to backup withholding or information reporting requirements.  Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set forth in 2.13(g) below) shall not be required if in the Pre-Export Lender’s reasonable judgment such completion, execution or submission would subject such Pre-Export Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Pre-Export Lender. 
42.If a payment made to a Pre-Export Lender under any Pre-Export Loan Document would be subject to U.S. federal withholding tax imposed by FATCA if such Pre-Export Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Pre-Export Lender shall deliver to the Pre-Export Borrower Representative and the Pre-Export Administrative Agent at the time or times prescribed by law and at such time or times reasonably requested by the Pre-Export Borrower Representative or the Pre-Export Administrative Agent such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Pre-Export Borrower Representative or the Pre-Export Administrative Agent as may be necessary for the Pre-Export Borrowers and the Pre-Export Administrative Agent to comply with their obligations 
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under FATCA and to determine that such Pre-Export Lender has complied with such Pre-Export Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment.  Solely for purposes of this paragraph (g), “FATCA” shall include any amendments made to FATCA after the date of this Agreement.  Notwithstanding any other provision of this Section, a Pre-Export Lender shall not be required to deliver any form pursuant to this Section that such Pre-Export Lender is not legally able to deliver.
43.Each Pre-Export Lender agrees that if any form or certification it previously delivered pursuant to this Section 2.13 expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify the Pre-Export Borrower Representative and the Pre-Export Administrative Agent in writing of its legal inability to do so.
44.If the Pre-Export Administrative Agent or a Pre-Export Lender determines, in its sole good faith discretion, that it has received a refund of any Indemnified Taxes or Other Taxes as to which it has been indemnified by the Pre-Export Borrowers or with respect to which the Pre-Export Borrowers have paid additional amounts pursuant to this Section 2.13, it shall pay to the applicable Pre-Export Borrowers an amount equal to such refund (but only to the extent of indemnity payments made, or additional amounts paid, by the Pre-Export Borrowers under this Section 2.13 with respect to Indemnified Taxes or Other Taxes giving rise to such refund), net of all out-of-pocket expenses of the Pre-Export Administrative Agent or such Pre-Export Lender and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund); provided, that the Pre-Export Borrowers agree to pay, upon the request of the Pre-Export Administrative Agent or such Pre-Export Lender, the amount paid over to the Pre-Export Borrowers pursuant to this paragraph (i) (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to the Pre-Export Administrative Agent or such Pre-Export Lender in the event that the Pre-Export Administrative Agent or such Pre-Export Lender is required to repay such refund to such Governmental Authority.  Notwithstanding anything to the contrary in this paragraph (i), in no event will the indemnified party be required to pay any amount to an indemnifying party pursuant to this paragraph (i) the payment of which would place the indemnified party in a less favorable net after-tax position than the indemnified party would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts giving rise to such refund had never been paid.  This Section 2.13(i) shall not be construed to require the Pre-Export Administrative Agent or a Pre-Export Lender to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to the Pre-Export Borrowers.
45.The agreements in this Section shall survive the termination of this Agreement and the payment of the Pre-Export Loans and all other amounts payable hereunder.
n.Indemnity
.  The Pre-Export Borrowers agree jointly and severally to indemnify each Pre-Export Lender for, and to hold each Pre-Export Lender harmless from, any loss or expense that such Pre-Export Lender may sustain or incur as a consequence of (a) default by any Pre-Export Borrower in making a borrowing of Pre-Export Loans on a Pre-Export Drawdown Date, (b) default by any 
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Pre-Export Borrower in making any prepayment of Pre-Export Loans after any Pre-Export Borrower or the Pre-Export Borrower Representative has given a notice thereof in accordance with the provisions of this Agreement, (c) the making of a prepayment of Pre-Export Loans on a day that is not the last day of an Interest Period with respect thereto, or (d) the assignment of any Pre-Export Loan other than on the last day of an Interest Period with respect thereto, as the result of a request by the Pre-Export Borrower Representative pursuant to Section 2.17(a); provided, however, that the Pre-Export Borrowers shall not be obligated to indemnify a Defaulting Pre-Export Lender that is not a Performing Pre-Export Lender for any such loss or expense (incurred while such Pre-Export Lender was a Defaulting Pre-Export Lender) related to the prepayment or assignment of any Pre-Export Loan owed to such Defaulting Pre-Export Lender.  Such indemnification may include an amount equal to the excess, if any, of (i) the amount of interest that would have accrued on the amount so prepaid, or not so borrowed, for the period from the date of such prepayment or of such failure to borrow to the last day of such Interest Period (or, in the case of a failure to borrow the Interest Period that would have commenced on the date of such failure) in each case at the applicable rate of interest for such Pre-Export Loans provided for herein (excluding, however, the Applicable Margin included therein, if any) over (ii) the amount of interest (as reasonably determined by such Pre-Export Lender) that would have accrued to such Pre-Export Lender on such amount by placing such amount on deposit for a comparable period with leading banks in the interbank eurocurrency market.  A certificate as to any amounts payable pursuant to this Section submitted to the Pre-Export Borrower Representative by any Pre-Export Lender shall be conclusive in the absence of manifest error.  This covenant shall survive the termination of this Agreement and the payment of the Pre-Export Loans and all other amounts payable hereunder.
o.Change of Lending Office
.  
46.Prior to (and in connection with) the Conversion and subject to Section 2.15(b), any Pre-Export Lender (a “Designating Lender”) at its option may designate any domestic or foreign branch or office of such Pre-Export Lender (the “Designated Branch/Office”) to make its Pre-Export Loan by delivering written notice of such designation to the Pre-Export Administrative Agent.  Upon delivery of such notice, the Designated Branch/Office shall be the Pre-Export Lender for all purposes hereunder, and the Designating Lender shall have no further rights or obligations as a “Pre-Export Lender” under the Pre-Export Loan Documents. 
47.Notwithstanding paragraph (a) above, any designation by a Designating Lender of a Designated Branch/Office which is located in a tax haven jurisdiction or in a privileged tax regime (as defined by applicable Brazilian law) may not be made without the prior written consent of the Pre-Export Borrower Representative, which consent shall not be unreasonably delayed and may only be denied if such designation triggers an interest deductibility restriction for the Pre-Export Borrowers, under the thin capitalization and transfer pricing rules applicable in Brazil, in connection with the interest payable by the Pre-Export Borrowers hereunder, taking into account all the Pre-Export Loans advanced by all Pre-Export Lenders making their Pre-
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Export Loans through a branch or office of such Pre-Export Lenders located in a tax haven jurisdiction or in a privileged tax regime, in accordance with applicable Brazilian law.
48.Each Pre-Export Lender agrees that, upon the occurrence of any event giving rise to the operation of Section 2.12 or 2.13(a) with respect to such Pre-Export Lender, it will, if requested by the Pre-Export Borrower Representative, use reasonable efforts (subject to overall policy considerations of such Pre-Export Lender) to designate another lending office for any Pre-Export Loans affected by such event with the object of avoiding the consequences of such event; provided, that such designation is made on terms that, in the sole judgment of such Pre-Export Lender, cause such Pre-Export Lender and its lending office(s) to suffer no economic, legal or regulatory disadvantage, and provided, further, that nothing in this Section shall affect or postpone any of the obligations of the Pre-Export Borrowers or the rights of any Pre-Export Lender pursuant to Section 2.12 or 2.13(a).
49.As of the date hereof, and pursuant to Section 2.15(a), Coöperatieve Rabobank U.A., New York Branch (in its capacity as Pre-Export Lender) hereby designates Coöperatieve Rabobank U.A. as its Designated Branch/Office. For the avoidance of doubt, the Pre-Export Borrower Representative acknowledges and agrees that its consent is not required pursuant to Section 2.15(b).
p.Illegality
.  If, after the date of this Agreement, the introduction of, or any change in, any applicable law, rule or regulation or in the interpretation or administration thereof by any Governmental Authority shall, in the reasonable opinion of counsel to any Pre-Export Lender, make it unlawful for such Pre-Export Lender to make or maintain any Pre-Export Loan, then such Pre-Export Lender may, by notice to the Pre-Export Borrower Representative (with notice to the Pre-Export Administrative Agent), immediately declare that such Pre-Export Loan shall be due and payable.  The Pre-Export Borrowers shall repay any such Pre-Export Loan declared so due and payable in full on the last day of the Interest Period applicable thereto or earlier if required by law, together with accrued interest thereon.  Each Pre-Export Lender will promptly notify the Pre-Export Borrower Representative and the Pre-Export Administrative Agent of any event of which such Pre-Export Lender has knowledge which would entitle it to repayment pursuant to this Section 2.15(a) and will use its reasonable efforts to mitigate the effect of any event if, in the sole and absolute opinion of such Pre-Export Lender, such efforts will avoid the need for such prepayment and will not be otherwise disadvantageous to such Pre-Export Lender.
q.Replacement of Pre-Export Lenders
.    The Pre-Export Borrowers shall be permitted to replace any Pre-Export Lender that requests reimbursement for amounts owing pursuant to Section 2.12 or 2.13(a) with a replacement financial institution; provided that (i) such replacement does not conflict with any Requirement of Law, (ii) no Event of Default shall have occurred and be continuing at the time of such replacement, (iii) prior to any such replacement, such Pre-Export Lender shall have taken no action under Section 2.15 so as to eliminate the continued need for payment of amounts owing pursuant to Section 2.12 or 2.13(a), (iv) the replacement financial institution shall purchase, at 
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par, in immediately available funds, all Pre-Export Loans and other amounts owing to such replaced Pre-Export Lender on or prior to the date of replacement, (v) the Pre-Export Borrowers shall be jointly and severally liable to such replaced Pre-Export Lender under Section 2.14 if any Pre-Export Loan owing to such replaced Pre-Export Lender shall be purchased other than on the last day of the Interest Period relating thereto, (vi) the replacement financial institution, if not already a Pre-Export Lender, shall be reasonably satisfactory to the Pre-Export Administrative Agent, (vii) the replaced Pre-Export Lender shall be obligated to make such replacement in accordance with the provisions of Section 8.6 (provided that the Pre-Export Borrowers shall be obligated to pay the registration and processing fee referred to therein) and (viii) the Pre-Export Borrowers shall remain jointly and severally liable to such replaced Pre-Export Lender for all additional amounts (if any) required pursuant to Section 2.12 or 2.13(a), as the case may be.
50.The Pre-Export Borrowers shall be permitted to replace any Defaulting Pre-Export Lender with a replacement financial institution; provided that (i) such replacement does not conflict with any Requirement of Law, (ii) no Event of Default shall have occurred and be continuing at the time of such replacement, (iii) the replacement financial institution shall purchase, at par, in immediately available funds, all Pre-Export Loans and other amounts owing to such replaced Pre-Export Lender on or prior to the date of replacement, (iv) the replacement financial institution, if not already a Pre-Export Lender, shall be reasonably satisfactory to the Pre-Export Administrative Agent, (v) the replaced Pre-Export Lender shall be obligated to make such replacement in accordance with the provisions of Section 8.6 (provided that the Pre-Export Borrowers shall be obligated to pay the registration and processing fee referred to therein) and (vi) any such replacement shall not be deemed to be a waiver of any rights that the Pre-Export Borrowers, the Pre-Export Administrative Agent or any other Pre-Export Lender shall have against the replaced Pre-Export Lender.  To the extent the Pre-Export Borrowers are unable to replace any Defaulting Pre-Export Lender with a replacement financial institution, the Pre-Export Borrowers may, to the extent that the reduction in the Total Pre-Export Commitments provided for in this sentence does not cause the Total Pre-Export Commitments to fall below the Total Pre-Export Loans, remove such Defaulting Pre-Export Lender by repaying such Defaulting Pre-Export Lender’s outstanding Pre-Export Loans and reducing the aggregate Pre-Export Commitments by an amount equal to such Defaulting Pre-Export Lender’s Pre-Export Commitment.
r.Judgment Currency
.    If, for the purpose of obtaining judgment in any court, it is necessary to convert a sum owing hereunder in one currency into another currency, each party hereto agrees, to the fullest extent that it may effectively do so, that the rate of exchange used shall be that at which, in accordance with normal banking procedures in the relevant jurisdiction, the first currency could be purchased with such other currency on the Business Day immediately preceding the day on which final judgment is given.
51.The obligations of the Pre-Export Borrowers in respect of any sum due to any party hereto or any holder of the obligations owing hereunder (the “Applicable Creditor”) shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than the currency 
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in which such sum is stated to be due hereunder (the “Agreement Currency”), be discharged only to the extent that, on the Business Day following receipt by the Applicable Creditor of any sum adjudged to be so due in the Judgment Currency, the Applicable Creditor may in accordance with normal banking procedures in the relevant jurisdiction purchase the Agreement Currency with the Judgment Currency; if the amount of the Agreement Currency so purchased is less than the sum originally due to the Applicable Creditor in the Agreement Currency, the Pre-Export Borrowers as a separate obligation and notwithstanding any such judgment, agrees to indemnify the Applicable Creditor against such loss.  The obligations of the Pre-Export Borrowers contained in this Section shall survive the termination of this Agreement and the payment of all other amounts owing hereunder.
s.Notes; Bank Records
.  Each Pre-Export Loan made by each Pre-Export Lender to any Pre-Export Borrower hereunder shall be evidenced by a Note in an amount equal to [●]% of the aggregate principal amount of such Pre-Export Lender’s interest in such Pre-Export Loan.  Each such Note shall be duly completed and executed by each Pre-Export Borrower, and acknowledged and guaranteed by each Pre-Export Guarantor dated as of the applicable Pre-Export Drawdown Date in respect of the relevant Pre-Export Loan, and be payable to the order of such Pre-Export Lender in the amounts described above.  Each Pre-Export Lender shall maintain in accordance with its usual practice records evidencing the indebtedness of the Pre-Export Borrowers to such Pre-Export Lender resulting from the Pre-Export Loans made by such Pre-Export Lender, including the amounts of principal and interest payable and paid to such Pre-Export Lender from time to time hereunder, and such records shall be conclusive absent manifest error and serve as additional evidence of the Pre-Export Loans made by such Pre-Export Lender.  
t.Extension Option
.    Extension Request.  Subject to the limitations in Section 2.20(h), the Pre-Export Borrower Representative shall be entitled to request one time that the Original Pre-Export Maturity Date be extended for an additional period of up to twelve (12) Months by giving notice (the “Extension Request”) to the Pre-Export Administrative Agent not less than thirty (30) days before the Original Pre-Export Maturity Date.
52.Notification of Extension Request.  The Pre-Export Administrative Agent shall promptly notify the Pre-Export Lenders of any Extension Request as soon as practicable after receipt of it.
53.Pre-Export Lenders’ Response to Extension Request.
xiii.Each Pre-Export Lender may, in its sole discretion, agree to any Extension Request (each such lender, a “Consenting Pre-Export Lender”) by providing notice to the Pre-Export Administrative Agent on or before the date falling fifteen (15) days after the Pre-Export Administrative Agent’s receipt of such Extension Request (the “Extension Response Deadline”).
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xiv.The Pre-Export Maturity Date with respect to the Pre-Export Loans and Pre-Export Commitments of each Consenting Pre-Export Lender will be extended for the period referred to in such Extension Request; provided that the Required Pre-Export Lenders have agreed to such extension.
xv.If any Pre-Export Lender:
a.fails to reply to an Extension Request before the Extension Response Deadline; or
b.declines an Extension Request by the Extension Response Deadline,
(in each case, a “Declining Pre-Export Lender”), the Pre-Export Maturity Date of its Pre-Export Loans and Pre-Export Commitments will not be extended.
54.Form of Extension Request.  Each Extension Request shall be made in writing and be irrevocable.
55.Replacement of Declining Pre-Export Lenders.
xvi.The Pre-Export Administrative Agent shall notify the Pre-Export Borrower Representative and the Pre-Export Lenders no later than one (1) Business Day after Extension Response Deadline of the details of which Pre-Export Lenders are Consenting Pre-Export Lenders and which Pre-Export Lenders are Declining Pre-Export Lenders.
xvii.If the Pre-Export Administrative Agent notifies the Pre-Export Borrower Representative that the Required Pre-Export Lenders are Consenting Pre-Export Lenders and that there are one or more Declining Pre-Export Lenders, the Pre-Export Borrower Representative may, on fifteen (15) days' notice to the Pre-Export Administrative Agent replace a Declining Pre-Export Lender by requiring such Declining Pre-Export Lender to (and such Declining Pre-Export Lender shall) transfer, pursuant to Section 8.6, all (and not only part) of its rights and obligations under this Agreement and the Framework Agreement to a Consenting Pre-Export Lender or another bank, financial institution, trust fund or other entity (to the extent not a Consenting Pre-Export Lender, a “Replacement Pre-Export Lender”) selected by the Pre-Export Borrower Representative which is acceptable to the Pre-Export Administrative Agent (acting reasonably) which confirms its willingness to assume and does assume all the rights and obligations of such Declining Pre-Export Lender for a purchase price in cash payable at the time of transfer at least equal to the principal amount of such Declining Pre-Export Lender's participation in outstanding Pre-Export Loans under this Agreement and all accrued interest, costs and other amounts then due to the Declining Pre-Export Lender at such time.
xviii.The replacement of a Declining Pre-Export Lender pursuant to this Section 2.20(e) shall be subject to the following conditions:
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c.none of the Pre-Export Administrative Agent, any Pre-Export Joint Lead Arranger or any Pre-Export Lender shall have any obligation to find a Replacement Pre-Export Lender;
d.such replacement must take place by no later than the Original Pre-Export Maturity Date;
e.in no event shall the relevant Declining Pre-Export Lender be required to pay or surrender to the relevant Replacement Pre-Export Lender any of the fees or other amounts received by such Declining Pre-Export Lender pursuant to the Pre-Export Loan Documents prior to the date of such replacement; and
f.any Assignment and Acceptance executed by the relevant Declining Pre-Export Lender and the relevant Replacement Pre-Export Lender shall include a confirmation from the Replacement Pre-Export Lender that (x) it has agreed to the extension of the Original Pre-Export Maturity Date, requested by the Revolving Pre-Export Borrower in accordance with this Section 2.20 and to become and be deemed a party to this Agreement and a “Pre-Export Lender” hereunder for all purposes hereof and shall enjoy all rights and assume all obligations of the Declining Pre-Export Lender as a Pre-Export Lender set forth in this Agreement and (y) it has agreed to become and be deemed a party to the Framework Agreement and a “Pre-Export Lender” thereunder for all purposes thereof and shall enjoy all rights and assume all obligations of the Declining Lender as a Pre-Export Lender set forth in the Framework Agreement.
56.Reduction of Facility.  If, with respect to any Extension Request, (i) the Required Pre-Export Lenders agree to such extension, (ii) there are any Declining Pre-Export Lenders and (iii) such Declining Pre-Export Lenders cannot be replaced pursuant to Section 2.20(e), then (x) all outstanding principal, interest and other amounts payable to the Declining Pre-Export Lenders shall be repaid on the then current Pre-Export Maturity Date (without giving effect to the extension of the Original Pre-Export Maturity Date) and (y) the Total Pre-Export Commitments will be automatically reduced by each such Declining Pre-Export Lender's Pre-Export Commitment on the last date of the Subsequent Pre-Export Commitment Period (without giving effect to the extension of the Original Pre-Export Maturity Date) once such repayment has been made.
57.Extension of the Facility. The then current Pre-Export Maturity Date of this Agreement will be extended to the Extension Pre-Export Maturity Date, in an aggregate amount equal to the sum of the Aggregate Exposure of the Consenting Pre-Export Lenders (together with the Aggregate Exposure of the Replacement Pre-Export Lenders, if applicable). For the avoidance of doubt, the sum of the Aggregate Exposures in respect of which the Original Pre-
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Export Maturity Date has been extended under this clause shall not exceed the Total Pre-Export Commitments.
58.Limitations.  No more than one (1) Extension Request may be given, and no Extension Request may be made if there was previously an extension of the maturity of the Revolving Credit Agreement pursuant to Section 2.03 thereof.  For the avoidance of doubt, the Pre-Export Maturity Date cannot extend beyond the date falling six (6) years after the date hereof.  In addition, no extension pursuant to this Section 2.20 shall be effective unless the Required Pre-Export Lenders are Consenting Pre-Export Lenders with respect to such extension.
59.Conditions Precedent to an Extension.  The extension of the Pre-Export Maturity Date of the Pre-Export Loans of each Consenting Pre-Export Lender shall be subject to the following conditions precedent:
xix.Representations and Warranties.  The representations and warranties set forth in Section 3 hereof and in all other Pre-Export Loan Documents shall be true and correct in all material respects on and as of such date of extension; provided that, the representations and warranties made in Sections 3.1, 3.2, 3.3, 3.4, 3.5, 3.6, 3.9, 3.13 and 3.14 shall be true and correct in all respects as of such date of extension
xx.No Event of Default shall have occurred and be continuing as of such date of extension.
SECTION 238.REPRESENTATIONS AND WARRANTIES
To induce the Pre-Export Administrative Agent and the Pre-Export Lenders to enter into this Agreement and to make the Pre-Export Loans, each Pre-Export Borrower hereby represents and warrants to the Pre-Export Administrative Agent and each Pre-Export Lender, on the Conversion Date, the date of each Pre-Export Borrowing Notice, each Pre-Export Drawdown Date and the date that any Assigned Export Contract is assigned to the Pre-Export Collateral Agent or the Onshore Collateral Agent in accordance herewith, that:
a.No Change
.  Since December 31, 2017, there has been no development or event that has had or could, in such Pre-Export Borrower’s good faith reasonable judgment, reasonably be expected to have a Material Adverse Effect.
b.Existence; Compliance with Law
.  Each Pre-Export Loan Party (a) is duly organized and validly existing under the laws of the jurisdiction of its organization, (b)has the power and authority, and the legal right, to own and operate its property and to conduct the business in which it is currently engaged and (c) is in compliance with all Requirements of Law except to the extent that the failure to comply therewith could not, in the aggregate, reasonably be expected to have a Material Adverse Effect.  In addition, Off-Shore SugarCo is in good standing under the laws of the jurisdiction of its organization.
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c.Power; Authorization; Enforceable Obligations
.  Each Pre-Export Loan Party has the power and authority, and the legal right, to make, deliver and perform the Pre-Export Loan Documents to which it is a party and to obtain Pre-Export Loans hereunder.  Each Pre-Export Loan Party has taken all necessary organizational action to authorize the execution, delivery and performance of the Pre-Export Loan Documents to which it is a party and to authorize the Pre-Export Loans on the terms and conditions of this Agreement.  No Governmental Approval (except for those Brazilian Governmental Approvals and documents required to be obtained in connection with the shipping of Goods from Brazil under the Export Contracts, which the Pre-Export Loan Parties have no reason to believe would not be obtained in due course and time, the ROFs, the registration of the schedules of payment within the ROFs, and the perfection requirements as expressly provided in this Agreement or in any Security Document, which shall be obtained by the Pre-Export Loan Parties on or before the Initial Pre-Export Drawdown Date or after such date to the extent permitted under the Pre-Export Loan Documents and required by law) or other act by or in respect of, any Governmental Authority, or consent or authorization of, approval by or notice to any other Person is required or is necessary or required in connection with the Pre-Export Loans hereunder or with the execution, delivery, performance, validity or enforceability of this Agreement or any of the Pre-Export Loan Documents to which each Pre-Export Loan Party is a party, except for (a) any authorization by the Central Bank of Brazil which may be required in order for a Pre-Export Loan Party to convert Reais into foreign currency and remit such funds abroad to comply with any extraordinary cash payment obligations under any of the Credit Documents or prepay the Pre-Export Loans, in whole or in part and (b) such consents, authorizations, filings and notices that have been obtained or made and are in full force and effect; provided that in order to ensure the admission of the Pre-Export Loan Documents before the public agencies and courts in Brazil, the signatures of the legal representatives of the parties thereto that have not executed such Pre-Export Loan Documents in Brazil must be notarized by a notary public licensed as such under the laws of the place of signing and apostilled or authenticated by a consular official of Brazil, as applicable (except if the signatory has executed the Pre-Export Loan Documents in a country that maintains with Brazil an international treaty exempting such requirement), and each such Pre-Export Loan Document that was not executed in Portuguese must be translated into Portuguese by a public sworn translator and registered in Brazil with the competent titles and deeds registry (Cartório de Registro de Títulos e Documentos).  Each Pre-Export Loan Document to which any Pre-Export Loan Party is a party has been duly executed and delivered on behalf of such Pre-Export Loan Party.  This Agreement constitutes, and each other Pre-Export Loan Document to which any Pre-Export Loan Party is a party, upon execution will constitute, a legal, valid and binding obligation of such Pre-Export Loan Party, enforceable against such Pre-Export Loan Party in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, recuperação judicial, recuperação extrajudicial, falência or similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles (whether enforcement is sought by proceedings in equity or at law).  
d.No Legal Bar
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.  The execution, delivery and performance of this Agreement and the other Pre-Export Loan Documents to which any Pre-Export Loan Party is a party, the borrowings hereunder and the use of the proceeds thereof will not violate any Requirement of Law or any Contractual Obligation of any Pre-Export Loan Party and will not result in, or require, the creation or imposition of any Lien (other than any Permitted Lien) on any of any Pre-Export Loan Party’s properties or revenues pursuant to any Requirement of Law or any such Contractual Obligation.  No Requirement of Law or Contractual Obligation applicable to any Pre-Export Loan Party could reasonably be expected to have a Material Adverse Effect.
e.Litigation
.  No litigation, investigation or proceeding of or before any arbitrator or Governmental Authority is pending or, to the knowledge of any Pre-Export Loan Party, threatened by or against any Pre-Export Loan Party or against any of its properties or revenues (a) with respect to any of the Pre-Export Loan Documents to which any Pre-Export Loan Party is a party or any of the transactions contemplated hereby or thereby, or (b) that could reasonably be expected to have a Material Adverse Effect.
f.No Default
.  Each Pre-Export Loan Party is not in default under or with respect to any of its Contractual Obligations in any respect that could reasonably be expected to have a Material Adverse Effect.  No Default or Event of Default has occurred and is continuing.
g.Ownership of Property; Liens; Insurance
.  Each Pre-Export Loan Party has good title to all its property, none of such property is subject to any Lien other than Permitted Liens and any other Lien permitted under Section 5.3(a) and each Pre-Export Loan Party has in full force and effect insurance coverage with insurance companies that are not Affiliates and that are financially sound and reputable and in such amounts and covering such risks as are customarily carried by companies engaged in similar businesses and owning or operating properties or assets in Brazil similar to those owned or operated by them.
h.Taxes
.  Each Pre-Export Loan Party has filed or caused to be filed all federal, state and other material tax returns that are required to be filed and has paid all taxes shown to be due and payable on said returns or on any assessments made against it or any of its property and all other taxes, fees or other charges imposed on it or any of its property by any Governmental Authority (other than any taxes, fees or other charges the amount or validity of which are currently being contested in good faith by appropriate proceedings and with respect to which reserves in conformity with IFRS have been provided on the books of the applicable Pre-Export Loan Party).  No tax Lien (other than any Permitted Lien) has been filed, and, to the knowledge of each Pre-Export Loan Party, no claim is being asserted, with respect to any such tax, fee or other charge. 
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i.Federal Regulations
.  No part of the proceeds of any Pre-Export Loans will be used for “buying” or “carrying” any “margin stock” within the respective meanings of each of the quoted terms under Regulation U as now and from time to time hereafter in effect or for any purpose that violates the provisions of the Regulations of the Board.  If requested by any Pre-Export Lender or the Pre-Export Administrative Agent, each Pre-Export Borrower will furnish to the Pre-Export Administrative Agent and each Pre-Export Lender a statement to the foregoing effect in conformity with the requirements of FR Form G-3 or FR Form U1, as applicable, referred to in Regulation U.
j.Investment Company Act; Other Regulations
.  No Pre-Export Loan Party is an “investment company”, or a company “controlled” by an “investment company”, within the meaning of the Investment Company Act of 1940, as amended.  No Pre-Export Loan Party is subject to regulation under any Requirement of Law (other than Regulation X of the Board) that limits its ability to incur Indebtedness.
k.Subsidiaries
.  No Pre-Export Loan Party has a direct or indirect Subsidiary that is not a Pre-Export Borrower or a Pre-Export Guarantor under this Agreement. Schedule 1 contains a complete and correct list of each of the Pre-Export Borrowers and all of the direct and indirect holders of the Capital Stock of each Pre-Export Borrower and the nature of the ownership interest and the percentage of ownership held thereby, in each case, as of the Revolving Closing Date. Schedule 2 contains a complete and correct diagram showing each of the Pre-Export Borrowers, their Subsidiaries and the direct and indirect holders of their Capital Stock as of the Revolving Closing Date. Schedule 3 contains a complete and correct diagram showing each of the Pre-Export Borrowers, their Subsidiaries and the direct and indirect holders of their Capital Stock as of the Conversion Date.
l.Use of Proceeds
.  The proceeds of the Pre-Export Loans shall be used solely to finance or refinance the exports by the Pre-Export Borrowers and Off-Shore SugarCo of the Goods.
m.Solvency
.  Each Pre-Export Loan Party is, and after giving effect to the incurrence of all Indebtedness and obligations being incurred in connection herewith and therewith will be and will continue to be, Solvent.
n.Financial Condition
.  The balance sheet of the Pre-Export Loan Parties as at December 31, 2017 and the related statements of income for the fiscal year ended on such date, reported on by the Pre-Export Loan Parties’ independent public accountants, copies of which have heretofore been furnished to the Pre-Export Administrative Agent, are complete and correct, in all material respects, and present fairly the financial condition of the Pre-Export Loan Parties as at such date, and the results of 
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operations for the fiscal year then ended.  Such financial statements, including any related schedules and notes thereto, have been prepared in accordance with IFRS applied consistently throughout the periods involved (except as approved by the external auditors and as disclosed therein, if any).
o.Disclosure
.  No report, financial statement, certificate or other information furnished (whether in writing or orally) by or on behalf of the Pre-Export Loan Parties to the Pre-Export Joint Lead Arrangers in connection with the transactions contemplated hereby and the negotiation of this Agreement or delivered hereunder (as modified or supplemented by other information so furnished) contains any material misstatement of fact or omits to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided that, with respect to projected financial information, the Pre-Export Borrowers represent only that such information was prepared in good faith by the management of the Pre-Export Borrowers on the basis of assumptions believed by such management to be reasonable as of the time made.
p.Pari Passu
.  All of the Pre-Export Loan Parties’ payment obligations under the Pre-Export Loan Documents rank pari passu with the claims of all its other unsecured and unsubordinated creditors, except as may be limited by bankruptcy, insolvency, recuperação judicial or extrajudicial, falência or similar laws affecting enforcement of creditors’ rights generally and as may be limited by equitable principles of general applicability, it being understood that such other Indebtedness or other obligations may be secured by Permitted Liens (and, as such, may have a prior claim to the properties subject to such Permitted Liens) but no Indebtedness other than the Pre-Export Loans and Credit Agreement Refinancing Indebtedness shall benefit from Liens on Collateral except to the extent otherwise permitted by Section 5.3(a).
q.Sanctions
.    To the best of the knowledge of the Responsible Officers of such Pre-Export Borrower, each Pre-Export Loan Party is, to the extent applicable, in compliance in all material respects with Sanctions and Anti-Corruption Laws.
60.To the best of the knowledge of the Responsible Officers of such Pre-Export Borrower, each Pre-Export Loan Party is not, and no director or senior officer of any Pre-Export Loan Party is, any of the following:
xxi.a Restricted Party;
xxii.a Person owned [●]% or more or controlled by, or acting on behalf of, any Restricted Party; or
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xxiii.a Person that commits, threatens or conspires to commit or support “terrorism” as defined in the Executive Order.
61.Such Pre-Export Borrower has implemented and maintains in effect policies and procedures designed to promote and achieve continued compliance by the Pre-Export Loan Parties and their respective directors, officers and employees with applicable Anti-Corruption Laws and Sanctions.
r.Choice of Law
.  In any action or proceeding involving it that arises out of or is related to this Agreement, the Notes or the other Pre-Export Loan Documents in any court of the State of New York, the United States of America or Brazil, the Pre-Export Agents and the Pre-Export Lenders would be entitled to the recognition and enforcement of the choice of law provisions contained herein and therein.
s.Civil Law; No Immunity
.  Each Pre-Export Loan Party is subject to civil and commercial law with respect to its obligations under the Pre-Export Loan Documents and the execution, delivery and performance of the Pre-Export Loan Documents to which such Pre-Export Loan Party is a party constitute private and commercial activities rather than public or governmental acts.  None of the Pre-Export Loan Parties or any of the Pre-Export Loan Parties’ property has any immunity (sovereign or otherwise) from the jurisdiction of any court or from set-off or any legal process (whether through service or notice, attachment prior to judgment, attachment in aid of execution, execution or otherwise) under the laws of any jurisdiction.
t.The Pre-Export Loans
.
62.Each Pre-Export Borrower (i) confirms that the Pre-Export Loans that are made hereunder to each Pre-Export Borrower, whether by means of any new loan made by any Pre-Export Lender pursuant to this Agreement or by means of assignment of the Existing Pre-Export Loan taken by any Pre-Export Lender pursuant to the Framework Agreement, will qualify and enjoy the benefits of a Recebimento Antecipado de Exportação in accordance with the regulations issued by the National Monetary Council, the Central Bank of Brazil and any other applicable law, and (ii) represents and warrants that it is aware and understands the terms, conditions and mechanics set forth under applicable law for financings structured and carried out as Recebimento Antecipado de Exportação and the consequences for the breach thereof (including those consequences arising out the imposition of Taxes by the relevant Brazilian or other Governmental Authorities).
63.In addition to the foregoing, each Pre-Export Borrower represents and warrants to each of the Pre-Export Credit Parties that it understands and agrees that if any portion of the principal amount of the Pre-Export Loans (including, for the avoidance of doubt, any portion thereof that is prepaid pursuant to Section 2.5 is not repaid (i) through the proceeds of export 
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sales of Goods by the Pre-Export Borrowers or Off-Shore SugarCo to the Eligible Importers under the Assigned Export Contracts and the payment by such Eligible Importers in respect of the related Assigned Export Receivables directly into the Collateral Accounts, or (ii) otherwise with the export sale of products by the Pre-Export Borrowers or Off-Shore SugarCo and the payment thereof into the Collateral Accounts; then the Pre-Export Borrowers will cease to enjoy the benefits of a Recebimento Antecipado de Exportação in accordance with the regulations issued by the National Monetary Council, the Central Bank of Brazil and other applicable law, including the Brazilian withholding tax exemption on payments of interest on the Pre-Export Loans (the “Pre-Export Taxes”).  Furthermore, the Pre-Export Borrowers will be required to make the relevant Pre-Export Taxes payments and additional charges in accordance with Brazilian law.
u.Security Interests and Liens
.  Subject to the Perfection Requirements, on and after the date of execution and delivery thereof, the Security Documents create (or will create, as the case may be), as security for the obligations purported to be secured thereby, legal, valid and enforceable first priority (subject to Permitted Liens) perfected security interests or Liens in and Liens on or over all of the Collateral subject to the Security Documents, in favor of the Pre-Export Credit Parties party thereto or an Agent for the benefit of the Pre-Export Credit Parties.  No filings or recordings are required in order to perfect the security interests created under the Security Documents except for filings or recordings listed in such agreements or in Section 5.1(q) (Collateral) hereof.
v.Certain Taxes
.  There is no income, stamp or other tax, duty, impost, deduction or other charge imposed (whether by withholding or otherwise) by Brazil (including any political subdivision thereof) or any Brazilian Governmental Authority on or by virtue of the execution or delivery of this Agreement, the Notes, any other Pre-Export Loan Document or any other document required to be delivered hereunder or thereunder (except for any registration charge payable to the relevant registry (cartório) in Brazil in connection with any Security Document).
w.FATCA
.  No Pre-Export Loan Party is a U.S. Tax Obligor.
x.Environmental Matters
.  Each Pre-Export Loan Party is in compliance in all material respects with all applicable Environmental Laws and has obtained, maintains and is compliance in all materials respects with any and all licenses, approvals, registrations or permits required by applicable Environmental Laws, except where failure to obtain, maintain and comply in all material respects with such Environmental Laws, licenses, approvals, registration or permits could not reasonably be expected to have a Material Adverse Effect.
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SECTION 239.CONDITIONS PRECEDENT
a.Conditions to Effectiveness and the Initial Pre-Export Loans
.  This Agreement shall become effective on the date hereof upon execution by the parties hereto.  The Pre-Export Commitments will not become effective until the Conversion is completed.  The obligation for the Pre-Export Lenders to fund the Initial Pre-Export Loans is further subject to satisfaction of the following conditions on the Initial Pre-Export Drawdown Date:
64.Conversion.  Conversion has been completed.
65.Collateral Account.  Evidence of the establishment of the Collateral Accounts. 
66.Off-Shore SugarCo. Off-Shore SugarCo shall have entered into an Assigned Export Agreement with the Pre-Export Borrowers and Off-Shore SugarCo shall have entered into sufficient Assigned Export Agreements with Eligible Importers such that the Offtake Contract Value to Debt Service Coverage Ratio is less than or equal to [●], on a pro forma basis as of the Initial Pre-Export Drawdown Date, as detailed in a compliance certificate in substantially the form of Exhibit E attached hereto, delivered by the Pre-Export Borrowers to the Pre-Export Administrative Agent at least five (5) Business Days prior to such Initial Pre-Export Drawdown Date.
67.Registration of Resolutions.  Evidence shall have been provided, as soon as practicable but in any event prior to the Initial Pre-Export Drawdown Date, of the registration with the competent Trade Board (Junta Comercial) of the resolutions delivered to the Pre-Export Administrative Agent pursuant to the Framework Agreement authorizing the execution, delivery and performance of the Pre-Export Loan Documents and the transactions contemplated thereunder.
b.Conditions to Each Pre-Export Loan
.  The agreement of each Pre-Export Lender to make any Pre-Export Loan requested to be made by it on any date (including the Initial Pre-Export Loans), whether by means of any Pre-Export Loan made by any Pre-Export Lender pursuant to this Agreement or by means of an assignment of the Existing Pre-Export Loan taken by any Pre-Export Lender pursuant to the Framework Agreement, is subject to the satisfaction of the following conditions precedent:
68.Representations and Warranties.  Each of the representations and warranties made by any Pre-Export Borrower in or pursuant to the Pre-Export Loan Documents shall be true and correct in all material respects on and as of such date; provided that, the representations and warranties made in Sections 3.1, 3.2, 3.3, 3.4, 3.5, 3.6, 3.9 and 3.13 through 3.20 shall be true and correct in all respects as of such date. 
69.No Default.  No Default or Event of Default shall have occurred and be continuing on such date or after giving effect to the Pre-Export Loans requested to be made on such date.
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70.Pre-Export Borrowing Notice.  The Pre-Export Administrative Agent shall have received a Pre-Export Borrowing in accordance with the requirements hereof.
71.Notes.  The Pre-Export Borrowers, as borrowers, and each Pre-Export Guarantor, as guarantor, shall have executed and delivered to the Pre-Export Administrative Agent the original duly executed Notes evidencing the Pre-Export Loans to be made by each Pre-Export Lender to the Pre-Export Borrowers on the applicable Pre-Export Drawdown Date.
72. ROF. The Pre-Export Administrative Agent shall have received from the relevant Pre-Export Borrower evidence that the relevant ROF and its amendments, as applicable, required for each of the Pre-Export Loans requested to be made on such date have been obtained, except in the case of an assignment of an Existing Pre-Export Loan by any Pre-Export Lender pursuant to the Framework Agreement.
73.Financial Covenants.  The Pre-Export Borrowers shall be in pro forma compliance with the financial covenants set forth in Section 5.4 of this Agreement, and, with respect to each Pre-Export Loan, the Offtake Contract Value to Debt Service Coverage Ratio shall be less than or equal to [●], and, with respect to each Pre-Export Loan made on and after the Brazil Collateral Registration Trigger Date, the Fixed Asset Coverage Ratio shall be less than or equal to [●], in each case as of such date, as detailed in a compliance certificate in substantially the form of Exhibit E attached hereto, delivered to the Pre-Export Administrative Agent at least five (5) Business Days prior to such date.
74.Each borrowing by any Pre-Export Borrower hereunder shall constitute a representation and warranty by the Pre-Export Borrowers as of the date of such Pre-Export Loan that the conditions contained in this Section 4.2 have been satisfied.  The Pre-Export Administrative Agent shall cause the Pre-Export Lenders to be notified upon its receipt of all the documents required to be delivered in accordance with Section 4.1 or Section 4.2, as applicable, and shall provide electronic copies of the same to each Pre-Export Lender.  Each Pre-Export Lender shall be deemed to have agreed to and accepted each document, and to have approved or accepted each other matter delivered or occurring pursuant to Section 4.1 or Section 4.2, as applicable, unless such Pre-Export Lender (before making the amount of its applicable Pre-Export Commitment available to the Pre-Export Administrative Agent), acting reasonably, notifies the Pre-Export Administrative Agent in writing that it does not so agree with or accept such document or other matters set forth in Section 4.1 or Section 4.2, as the case may be. 
c.Conditions to Fifth Amendment Effective Date
.  The effectiveness of the fifth amendment and restatement of the Agreement is subject to satisfaction of the following conditions (the “Fifth Amendment Effective Date”):
75.execution and delivery of this Agreement by the Pre-Export Loan Parties to the Pre-Export Administrative Agent; and
76.each of the representations and warranties made by any Pre-Export Borrower in or pursuant to the Pre-Export Loan Documents shall be true and correct in all material respects on 
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and as of such date; provided that, the representations and warranties made in Sections 3.1, 3.2, 3.3, 3.4, 3.5, 3.6, 3.9 and 3.13 through 3.20 shall be true and correct in all respects as of such date.

SECTION 240.COVENANTS
Commencing on the Conversion Date (or with respect to certain provisions in Section 5.1(q) (Collateral) that expressly refer to the Brazil Collateral Registration Trigger Date, the Brazil Collateral Registration Trigger Date) and continuing while this Agreement is in effect (i.e., until all indebtedness and other amounts payable by the Pre-Export Borrowers hereunder have been paid in full and the Pre-Export Lenders no longer have any Pre-Export Commitments hereunder), each Pre-Export Borrower agrees that:
a.Affirmative Covenants
.  The Pre-Export Borrowers shall:
77.Information.  Provide the Pre-Export Administrative Agent all information that the Pre-Export Administrative Agent may reasonably request in writing concerning the business of the Pre-Export Borrower (or any of the Pre-Export Loan Parties) within a reasonable period of time considering the nature of the request; provided that with respect to any information relating to an annual audited report, the same may be delivered within one hundred and twenty (120) calendar days after the end of the Pre-Export Borrowers’ fiscal year.
78.Notice of proceedings.  Furnish or cause to be furnished to the Pre-Export Administrative Agent prompt written notice of the filing or commencement of any litigation, investigation or proceeding of or before any arbitrator or Governmental Authority against or affecting any Pre-Export Loan Party that could reasonably be expected to result in a Material Adverse Effect.
79.Payment of claims.  Take all actions necessary to ensure that all taxes and other governmental claims in respect of the Pre-Export Loan Parties’ operations and assets are promptly paid when due, except where the amount or validity thereof is currently being contested in good faith by appropriate proceedings and reserves to the extent required by IFRS with respect thereto have been provided on the books of the Pre-Export Loan Parties.
80.Compliance with law.  Ensure that all Pre-Export Loan Parties comply with all Requirements of Law (other than as relating to Sanctions, in which case Sections 5.1(o), Section 5.1(q) and Section 5.3(i) apply) except where the failure to so comply would not reasonably be expected to have a Material Adverse Effect.
81.Notice of Default.  Provide written notice to the Pre-Export Administrative Agent of the occurrence of each Default or Event of Default as promptly as practicable after any Pre-Export Loan Party becomes aware of any such Default or Event of Default, along with full 
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details of any steps it has taken or intends to take to remedy or mitigate the effect of such Default or Event of Default.
82.Annual Financial Statements.  Furnish to the Pre-Export Administrative Agent in sufficient number for each Pre-Export Lender as soon as available, but in any event within one hundred and twenty (120) days after the end of each fiscal year of the Pre-Export Borrowers, audited financial statements consisting of the consolidated balance sheet of the Pre-Export Borrowers as of the end of such year and the related statements of income and retained earnings and statements of cash flow for such year, setting forth in each case in comparative form the corresponding figures for the previous fiscal year, certified by independent certified public accountants satisfactory to the Pre-Export Administrative Agent to the effect that such financial statements fairly present in all material respects the financial condition and results of operations of the Pre-Export Borrowers in accordance with IFRS consistently applied.
83.Quarterly Financial Statements.  Furnish to the Pre-Export Administrative Agent as soon as available but in any event within sixty (60) days after the end of each of the first three quarters for each fiscal year of the Pre-Export Borrowers, unaudited financial statements consisting of a consolidated balance sheet of the Pre-Export Borrowers as at the end of such quarter and a statement of income and retained earnings and of cash flow for such quarter, setting forth (in the case of financial statements furnished for calendar quarters subsequent to the first full calendar year of the Pre-Export Borrowers) in comparative form the corresponding figures for the corresponding quarter of the preceding fiscal year.
84.Compliance Certificate.  Furnish, or cause to be furnished, to the Pre-Export Administrative Agent together with the financial statements required pursuant to clause (f) and clause (g) a certificate of a Responsible Officer of the Pre-Export Borrower Representative in the form of Exhibit E stating (i) that the attached financial statements have been prepared in accordance with IFRS and accurately reflect the financial condition of the Pre-Export Loan Parties, (ii) that the Pre-Export Borrowers are in compliance with the Financial Covenants and Section 5.1(q)(xiii) and, to the extent applicable, Section 5.1(q)(xii), (iii) solely in the compliance certificate delivered in connection with the financial statements required pursuant to clause (f), that the Pre-Export Borrowers are in compliance with Section 5.1(q)(xiii) and, to the extent applicable, Section 5.1(q)(xii) and (iv) all information and calculations necessary for determining compliance by the Pre-Export Borrowers with the Financial Covenants and Section 5.1(q)(xiii) and, to the extent applicable, Section 5.1(q)(xii) as of the last day of the fiscal quarter or fiscal year of the Pre-Export Borrowers, as the case may be.
85.Appraisals.  Furnish to the Pre-Export Administrative Agent in sufficient number for each Pre-Export Lender (i) as soon as available, but in any event within 120 days after the end of each fiscal year of the Pre-Export Borrowers, an appraisal in form and substance reasonably satisfactory to the Pre-Export Administrative Agent from a third party appraiser reasonably acceptable to the Pre-Export Administrative Agent of all Sugar Cane that is pledged as Collateral; provided that the Pre-Export Administrative Agent may request up to three (3) additional appraisals from third party appraisers of their choice of the Sugar Cane that is pledged as Collateral prior to the Pre-Export Maturity Date, and (ii) as soon as available, but in any event 
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before each third (3rd) anniversary of the Conversion Date, an appraisal in form and substance reasonably satisfactory to the Pre-Export Administrative Agent from a third party appraiser reasonably acceptable to the Pre-Export Administrative Agent of the Pre-Export Borrowers’ Property and fixed assets.  In addition, the Pre-Export Collateral Agent shall be permitted to obtain (at the expense of the Pre-Export Lenders) one additional appraisal of the Pre-Export Borrowers’ Property and fixed assets from a third party appraiser reasonably acceptable to the Pre-Export Administrative Agent any time prior to the third (3rd) anniversary of the date of the Property and fixed assets appraisal delivered by the Pre-Export Borrowers prior to the Conversion Date in accordance with the Framework Agreement.
86.Preservation of Existence.  (i) Except as otherwise permitted by the Pre-Export Loan Documents, preserve, renew and keep in full force and effect the corporate existence of the Pre-Export Loan Parties and (ii) take all reasonable action to maintain all rights, privileges and franchises necessary or desirable in the normal conduct of the Pre-Export Loan Parties’ business, except where the failure to maintain the same would not have a Material Adverse Effect.
87.Visitation.  Permit any of the officers or employees of the Pre-Export Credit Parties to visit and inspect any of the properties of the Pre-Export Loan Parties and to discuss matters pertinent to an evaluation of the credit of the Pre-Export Loan Parties or relating to compliance with the Pre-Export Loan Documents with the principal officers of the Pre-Export Loan Parties, provided that (w) solely to the extent no Default or Event of Default is continuing, there is no more than one (1) visit and inspection made by each relevant Pre-Export Credit Party in any fiscal year, (x) any visit and inspection is carried out during regular business hours, (y) each visit and inspection shall be consented to by the Pre-Export Borrower Representative (such consent not to be unreasonably denied, delayed or withheld) after reasonably prior written notice given to it by the Pre-Export Administrative Agent following the Pre-Export Administrative Agent’s receipt of a request in that connection from a Pre-Export Credit Party and (z) the Pre-Export Administrative Agent and each Pre-Export Lender has executed a confidentiality agreement reasonably satisfactory to the Pre-Export Borrowers.  The Pre-Export Borrowers will be responsible for any costs and expenses incurred by such Pre-Export Credit Party in connection with (x) one (1) visit and inspection in any fiscal year and (y) any visit and inspection made following and during the continuance of a Default or Event of Default.  For the avoidance of doubt, no Agent will make any visit and inspection unless such Pre-Export Agent’s reasonable fees, costs and expenses are fully funded by the Pre-Export Lenders or, alternatively, by the Pre-Export Borrowers.
88.Books and Records.  Keep proper books of record and account in which full, true and correct entries in conformity with IFRS and the requirements of applicable law shall be made of all dealings and transactions in relation to such Person’s business.
89.Insurance.  Ensure that the Pre-Export Loan Parties maintain insurance coverage with insurance companies that are not Affiliates and that are financially sound and reputable and in such forms and amounts and covering such risks as are customarily carried by companies engaged in similar businesses and owning or operating properties or assets in Brazil similar to those owned or operated by the Pre-Export Loan Parties. 
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90.Pari Passu obligations.  Ensure that each Pre-Export Loan Party promptly takes all actions as may be necessary to ensure that its payment obligations under the Pre-Export Loan Documents to which it is a party will at all times constitute unconditional and unsubordinated general obligations thereof ranking at least pari passu with all present and future unsubordinated indebtedness thereof, except as may be limited by bankruptcy, insolvency, recuperação judicial or extrajudicial, falência or similar laws affecting enforcement of creditors’ rights generally and as may be limited by equitable principles of general applicability, it being understood that such other Indebtedness or other obligations may be secured by Permitted Liens (and, as such, may have a prior claim to the properties subject to such Permitted Liens) but no Indebtedness other than the Pre-Export Loans and Credit Agreement Refinancing Indebtedness shall benefit from Liens on Collateral.
91.Notice of Sanctions.  Promptly upon a Responsible Officer of any Pre-Export Borrower becoming aware that any Pre-Export Loan Party has received formal notice that it has become subject to any material action or investigation under any Sanctions, such Pre-Export Borrower shall, to the extent permitted by law, supply to the Pre-Export Administrative Agent details of any such material action or investigation.
92.Anti-Corruption and Sanctions Compliance Policies and Procedures.  Each Pre-Export Borrower shall maintain in effect policies and procedures designed to promote and achieve continued compliance by the Pre-Export Loan Parties and their respective directors, officers and employees with applicable Anti-Corruption Laws and Sanctions.
93.Collateral.  
xxiv.Perform any and all reasonable acts and execute any and all documents (including the execution, amendment or supplementation of any financing statement and continuation statement or other statement) for filing under (a) the statutes, laws, rules or regulations of any applicable federal, state or municipal jurisdiction of or within the United States of America and (b) applicable English laws, to grant and maintain in favor of the relevant Agent, for the benefit of the relevant Pre-Export Credit Parties, security interests or Liens in the rights under the Export Contracts assigned under the Assignment and Security Agreements perfected to the extent of and in the priority contemplated in the Assignment and  Security Document (in form and substance satisfactory to the relevant Agent).
xxv.Deliver or cause to be delivered to the relevant Agents for the benefit of the relevant Pre-Export Credit Parties from time to time such other documentation, consents, authorizations, approvals and orders in form and substance satisfactory to such Pre-Export Credit Parties as such Pre-Export Credit Parties shall deem reasonably necessary or advisable to perfect or maintain the security interest or Liens in the rights under the Export Contracts assigned under the Assignment and Security Agreements and each Collateral Account for the benefit of such relevant Pre-Export Credit Parties.
xxvi.Ensure that (x) at all times and until the indefeasible and final payment of all Obligations, each Security Document, subject to the provisions hereof and of such 
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Security Document, is valid, enforceable against the parties thereto and, except for such Brazilian Security Documents which registration with the relevant registries has not been required as a condition to Conversion, enforceable against any third party in accordance with its terms and (y) at all times on and after the Brazil Collateral Registration Trigger Date and until the indefeasible and final payment of all Obligations, each Brazilian Security Document, subject to the provisions hereof and of such Security Document, is valid and enforceable in accordance with its terms.
xxvii.Ensure that all times and until the indefeasible and final payment of all Obligations, the relevant Pre-Export Credit Party under each Security Document (other than, until the Brazil Collateral Registration Trigger Date, such Brazilian Security Documents which registration with the relevant registries has not been required as a condition to Conversion), subject to the provisions hereof and thereof, shall have a first priority (subject to Permitted Liens) perfected security interest in all of the Collateral pledged thereunder.
xxviii.From time to time and pursuant to the terms and conditions of the Security Documents, execute, acknowledge and deliver or cause to be executed, acknowledged and delivered such further instruments and take such further actions under the Security Documents, including, without limitation, entering into any amendments thereto and to their respective annexes and schedules as well updating any Schedules or Exhibits thereto in order to create, perfect and maintain in full force and effect as security interests under the Security Documents the respective Liens on (i) all Properties; (ii) all Equipment; (iii) all Sugar Cane; and (iv) all Assigned Export Receivables and the Collateral Accounts, in each case limited to those that are included in the Security Documents as Collateral, except for, until the Brazil Collateral Registration Trigger Date, the registration of such Brazilian Security Documents with the relevant registries that has not been required as a condition to Conversion.
xxix.On the Brazil Collateral Registration Trigger Date, deliver to the Pre-Export Administrative Agent customary legal opinions in respect to the Brazilian Security Documents registered on or before such date, confirming the creation of security in respect of the Collateral described in such Brazilian Security Documents, from counsel to the Pre-Export Loan Parties.
xxx.Take all necessary action to ensure that the appraised value (set forth in an appraisal to be delivered by the Pre-Export Borrowers) of the Pre-Export Borrowers’ Property, fixed assets and Sugar Cane constituting Collateral that are subject to Equipment Fiduciary Sale Agreements, Sugar Cane Pledge Agreements, Mortgage Deeds or other applicable Security Documents, as applicable, that are registered at the Registry of Deeds and Documents Offices or Real Estate Registry Offices, as applicable, shall equal or exceed $[●] on the Brazil Collateral Registration Trigger Date using an Exchange Rate calculated for the Exchange Rate Calculation Period ending March 31, 2021 (the “Brazil Collateral Registration Trigger Date Collateral Value Requirement”).  
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xxxi.On the Brazil Collateral Registration Trigger Date, deliver to the Pre-Export Administrative Agent customary legal opinions in respect to the Brazilian Security Documents registered on or before such date, the perfection of security in respect of the Collateral described in such Brazilian Security Documents, from counsel to the Pre-Export Loan Parties.
xxxii.On and after the Brazil Collateral Registration Trigger Date, ensure that at all times and until the indefeasible and final payment of all Obligations, the relevant Pre-Export Credit Party, under each of the Brazilian Security Documents, subject to the provisions hereof and thereof, shall have a first priority (subject to Permitted Liens) perfected security interest in all of the Collateral pledged under the Brazilian Security Documents.
xxxiii.On and after the Brazil Collateral Registration Trigger Date, from time to time and pursuant to the terms and conditions of the Brazilian Security Documents, execute, acknowledge and deliver or cause to be executed, acknowledged and delivered such further instruments and take such further actions under the Brazilian Security Documents, including, without limitation, entering into any amendments thereto and to their respective annexes and schedules as well updating any Schedules or Exhibits thereto in order to create, perfect and maintain in full force and effect as security interests under such Brazilian Security Documents the respective Liens on all Properties, all Equipment and all Sugar Cane that are included as Collateral in the calculation of the Brazil Collateral Registration Trigger Date Collateral Value Requirement or that are otherwise necessary to satisfy the Fixed Asset Coverage Ratio requirement in accordance with Section 5.1(q)(xii).
xxxiv.On and after the Brazil Collateral Registration Trigger Date, deliver or cause to be delivered to the relevant Agents for the benefit of the relevant Pre-Export Credit Parties from time to time such other documentation, consents, authorizations, approvals and orders in form and substance satisfactory to such Pre-Export Credit Parties as such Pre-Export Credit Parties shall deem reasonably necessary or advisable to perfect or maintain the security interest or Liens in the rights under the Collateral described under the Brazilian Security Documents for the benefit of such relevant Pre-Export Credit Parties.
xxxv.Commencing with the Pre-Export Borrowers’ fiscal year ending March 31, 2021 and in connection with the end of each Pre-Export Borrowers’ fiscal year thereafter, based on the financial statements delivered for each such fiscal year in accordance with Section 5.1(f) and prepared in accordance with IFRS, ensure that as of the end of each such fiscal year of the Pre-Export Borrowers the Fixed Asset Coverage Ratio is equal to or less than [●].
xxxvi.On and after the Conversion Date, based on the financial statements delivered for each fiscal quarter in accordance with Section 5.1(g) and prepared in accordance with IFRS, ensure that as of the end of each fiscal quarter of the Pre-Export 
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Borrowers the Offtake Contract Value to Debt Service Coverage Ratio is equal to or less than [●].
xxxvii.During December 2020, deliver a report substantially in the form of Exhibit H attached hereto (the “Collateral Registration Report”) to the Pre-Export Administrative Agent detailing the status of the Brazilian Security Documents that have been registered at the Registry of Deeds and Documents Offices or Real Estate Registry Offices, as applicable, pursuant to Section 5.1(q)(vii) as of a date in December 2020.  The Collateral Registration Report shall be delivered solely for informational purposes and shall not be used as evidence of compliance or non-compliance with the Brazil Collateral Registration Trigger Date Collateral Value Requirement, the Fixed Asset Coverage Ratio, the Offtake Contract Value to Debt Service Coverage Ratio or for any other purpose hereunder.

94.Environmental Laws. Unless, in the good faith judgment of the Pre-Export Borrowers, the failure to do so would not unreasonably be expected to have a Material Adverse Effect, the Pre-Export Borrowers will (and will cause each Pre-Export Loan Party to) comply in all material respects with all applicable Environmental Laws and obtain and comply in all respects with and maintain, any and all licenses, approvals, registrations or permits required by applicable Environmental Laws, except where failure to obtain and comply in all material respects with and maintain such licenses, approvals, registrations or permits could not reasonably be expected to have a Material Adverse Effect.
95.Further Assurances.  The Pre-Export Borrowers will cooperate, and will ensure that each Pre-Export Loan Party cooperates, with the Pre-Export Credit Parties and execute and deliver such further instruments and documents as any Pre-Export Agent shall reasonably request to carry out or perfect the transactions or the terms and conditions contemplated by the Pre-Export Loan Documents.
96.New Subsidiaries. With respect to any new Subsidiary (other than the Off-Shore SugarCo) created or acquired after the Conversion Date by any Pre-Export Loan Party, promptly, and in any event within sixty (60) days of the creation or acquisition of such Subsidiary:
xxxviii.if such new Subsidiary is organized in Brazil and is directly or indirectly wholly-owned by the Pre-Export Borrowers, cause such new Subsidiary to become a Pre-Export Borrower under this Agreement by executing any documents or agreements as the Pre-Export Administrative Agent shall reasonably determine necessary;
xxxix.if such new Subsidiary is not organized in Brazil or is not directly or indirectly wholly-owned by the Pre-Export Borrowers, but is controlled by the Pre-Export Borrowers, cause such new Subsidiary to enter into or become party to the Pre-Export Guaranty by executing any documents or agreements as the Pre-Export Administrative Agent shall reasonably determine necessary;
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xl.deliver to the Pre-Export Administrative Agent a secretary's certificate of such Subsidiary substantially in the form of Exhibit A, with charter documents, by-laws and appropriate resolutions attached; and
xli.deliver to the Pre-Export Administrative Agent legal opinions relating to the matters described above, which opinions shall be in form and substance, and from counsel, reasonably satisfactory to the Pre-Export Administrative Agent.
97.Registration. Promptly upon request of the Pre-Export Administrative Agent acting upon request of any Pre-Export Credit Party, provided that the Pre-Export Borrowers and Off-Shore SugarCo receive, to the extent applicable, the duly notarized, apostilled or consularized signatures of the applicable Pre-Export Credit Parties of the applicable Pre-Export Loan Documents, each Pre-Export Borrower and Off-Shore SugarCo shall register any of the Pre-Export Loan Documents (prior to the Brazil Collateral Registration Trigger Date, other than the Brazilian Security Documents) (and a sworn translation hereof or thereof in Portuguese, if executed in English) with the competent titles and deeds registry (Cartório de Registro de Títulos e Documentos), and pay all expenses incurred in connection with such translation and filings. The relevant Pre-Export Loan Party (or the Pre-Export Borrower Representative on its behalf) shall provide evidence of such registration to the Pre-Export Collateral Agent, the Onshore Collateral Agent and the Pre-Export Administrative Agent (in form and substance satisfactory to them) by not later than sixty (60) days from the relevant request date.
b.Export Contracts and Export Receivables Covenants
.
98.The Pre-Export Borrowers (or the Pre-Export Borrower Representative on their behalf) shall, and shall cause Off-Shore SugarCo to, promptly notify the Pre-Export Administrative Agent if any of the following events occurs under or in relation to an Assigned Export Contract or any Assigned Export Receivable, as applicable:
xlii.any actual, proposed or threatened material deduction from, or suspension of, payments to be made by an Eligible Importer, including without limitation any credit, rebates, offsets, holdbacks, disputes, counterclaims or other adjustments in respect of the relevant Assigned Export Receivables; 
xliii.any event which may entitle the relevant Eligible Importer thereunder to terminate or suspend any of the Pre-Export Loan Parties’ rights, or such Eligible Importer’s obligations, under the relevant Assigned Export Contract in respect of Assigned Export Receivables, or the delivery of any notice of default, suspension or termination given by an Eligible Importer;
xliv.any Assigned Export Contract or Assigned Export Receivable is no longer the valid, binding and enforceable obligation of the parties thereto or is otherwise no longer in full force and effect; 
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xlv.any Pre-Export Loan Party determines that it is reasonably likely that it will not be able to or otherwise fails to ship all or any portion of the Goods generating any Assigned Export Receivable in the quantity and within the shipment window specified therefor in the applicable Assigned Export Contract; and
xlvi.any Eligible Importer fails to deposit funds into the applicable Collateral Account in an amount sufficient to pay for a shipment of Goods generating any Assigned Export Receivable in full and within the shipment window specified therefor in the applicable Assigned Export Contract.
99.The Pre-Export Borrowers (or the Pre-Export Borrower Representative on their behalf) shall, and shall cause Off-Shore SugarCo to, supply the Pre-Export Administrative Agent with any further information (including copies of related documentation) in connection with any event mentioned in paragraph (a) above as the Pre-Export Administrative Agent or any Pre-Export Lender may reasonably require.
100.The Pre-Export Borrowers may not, and shall ensure that any Pre-Export Guarantors do not, without the prior written consent of the Required Pre-Export Lenders, agree to, amend or waive in any material respect all or any part of any Assigned Export Receivable or the terms in respect thereof under the relevant Assigned Export Contract, or to assign or transfer, terminate, cancel, suspend or abandon (or permit the transfer, termination, cancellation suspension or abandonment of), all or any part of any such Assigned Export Receivable.
101.The Pre-Export Borrowers shall, and shall cause Off-Shore SugarCo to, cause all Assigned Export Receivables to (i) have “cash against documents” (CAD) as their payment terms or (ii) provide that payments thereunder shall be made against delivery of scanned copies of applicable Shipping Documents, with the delivery of original copies of such Shipping Documents occurring after payment is acknowledged by the applicable seller.
102.The Pre-Export Borrowers shall, and shall cause Off-Shore SugarCo to, cause the shipments in respect of the Assigned Export Contracts to be sufficient to produce Assigned Export Receivables in such amounts to ensure timely payment of all amounts due by the Pre-Export Borrowers under this Agreement and compliance with the other provisions of the Pre-Export Loan Documents.
103.Each Pre-Export Borrower will, and will cause Off-Shore SugarCo to, ensure that (i) either all invoices relating to an Assigned Export Receivable include a prominent irrevocable instruction requiring the relevant Eligible Importer to make all payments thereunder directly to the applicable Collateral Account or such Pre-Export Borrower or Off-Shore SugarCo has provided separate written instructions to such relevant Eligible Importer to make all payments thereunder directly to the applicable Collateral Account, and (ii) a copy of each such invoice or written instructions is delivered to the Pre-Export Collateral Agent.
c.Negative Covenants
.  The Pre-Export Borrowers will not, and will ensure that the Pre-Export Guarantors do not:
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104.Liens.  Contract for, create, incur, assume or suffer to exist any Lien, security interest, charge or other encumbrance of any nature upon any of its property or assets, whether now owned or hereafter acquired, other than Permitted Liens and any other Liens on property that is not Collateral securing in the aggregate Indebtedness that does not exceed $[●].
105.Indebtedness.  Create, incur, assume or suffer to exist any Indebtedness, whether current or funded, other than:
xlvii.Indebtedness created under the Pre-Export Loan Documents and Credit Agreement Refinancing Indebtedness;
xlviii.Indebtedness in an aggregate amount not to exceed R$[●] incurred from (i) BNDES or any other Brazilian governmental development bank or credit agency or any financial institution acting as agent for such development bank, but only to the extent acting in its agency capacity therefor or in its capacity as agente de repasse (including borrowings from any Brazilian governmental bank with funds provided by Brazilian governmental regional funds (which shall include, without limitation, Financiadora de Estudos e Projetos – FINEP, Fundo de Desenvolvimento do Nordeste – FDNE and Fundo de Desenvolvimento do Centro Oeste – FCO)), or (ii) any international or multilateral development bank, government-sponsored agency, export-import bank or official export-import credit insurer; and
xlix.Indebtedness for working capital totaling no more than $[●] in the aggregate (“Permitted Working Capital Indebtedness”); provided, that Permitted Shareholder Indebtedness and Permitted Intercompany Indebtedness shall not be considered Permitted Working Capital Indebtedness for the purposes of this clause (b)(iii); 
l.unsecured Indebtedness for working capital owed by any Pre-Export Loan Party to any member of the Parent Group (“Permitted Intercompany Indebtedness”); provided, however, that (i) any Indebtedness owed by any Pre-Export Borrower or Pre-Export Guarantor to any member of the Parent Group (other than a Pre-Export Borrower or Pre-Export Guarantor) shall only be considered Permitted Intercompany Indebtedness if such Indebtedness is subject to a Subordination Agreement executed and delivered by such member of the Parent Group in favor of the Pre-Export Collateral Agent and (ii) any Indebtedness owed by any Pre-Export Borrower or Pre-Export Guarantor to any other Pre-Export Borrower or Pre-Export Guarantor  shall only be considered Permitted Intercompany Indebtedness if such Pre-Export Borrower or Pre-Export Guarantor  shall have executed and delivered a Waiver of Voting Rights in favor of the Pre-Export Collateral Agent;
li.unsecured Indebtedness for working capital owed by any member of the Parent Group to Bunge Limited or BP Biocombustíveis S.A. or any of their respective Affiliates that has a maturity date that does not exceed 364 days (“Permitted Shareholder Indebtedness”); provided, however, that any such Indebtedness shall only be considered Permitted Shareholder Indebtedness if such Indebtedness is subject to a Subordination 
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Agreement executed and delivered by Bunge Limited, BP Biocombustíveis S.A. or any such Affiliate, as applicable, in favor of the Pre-Export Collateral Agent; and
lii.Indebtedness existing as of the date of this Agreement as set forth in Schedule 4 attached hereto.
106.Fundamental Transactions.  Merge, dissolve, liquidate, consolidate with or into another Person (other than any merger or consolidation by a Pre-Export Borrower with and into another Pre-Export Borrower or by a Pre-Export Guarantor with and into another Pre-Export Guarantor), or dispose of (whether in one transaction or in a series of transactions) all or substantially all of its assets (whether now owned or hereafter acquired) to or in favor of any Person.   
107.Capital expenditures.  Make any expenditure in respect of the purchase or other acquisition of any fixed or capital asset (excluding normal operational expenditures for replacements, maintenance and replanting Sugar Cane which are incurred in the ordinary course of business and properly charged to current operations), except for expenditures in any fiscal year that, in the aggregate, do not exceed $[●].
108.Business.  (i) Make any material change in its line of business or (ii) take any action that might adversely affect the priority, perfection or validity of the Liens created or purported to be created pursuant to any Pre-Export Loan Documents. 
109.Disposals.  Dispose, sell, transfer, lease, convey or otherwise grant rights to (or agree to dispose of at any future time), in one or a series of transactions, whether related or not, all or any part of its property of assets, except that:
liii.the Pre-Export Loan Parties may (A) make sales of inventory and other personal property in the ordinary course of business, or (B) in the ordinary course of business, sell equipment which is uneconomic or obsolete; 
liv.the Pre-Export Loan Parties may sell equipment which is subject to a Lien which is permitted pursuant to clause (h) of the definition of “Permitted Liens”; and
lv.any Pre-Export Loan Party may freely dispose its properties or assets to any other Pre-Export Loan Party. 
110.Restricted Payments.  Declare or make, directly or indirectly, any Restricted Payment, or incur any obligation (contingent or otherwise) to do so, except that (i) so long as no Default or Event of Default shall have occurred and be continuing at the time of any action described below or would result therefrom, each Pre-Export Loan Party may make Restricted Payments during a fiscal year in an aggregate amount not to exceed, collectively, the higher of (x) $[●] and (y) the mandatory annual distributions of dividends required by applicable Brazilian laws, (ii) each Pre-Export Loan Party may make Restricted Payments pursuant to and in accordance with stock option plans or other benefit plans for management or employees of the Pre-Export Loan Parties, (iii) any Pre-Export Borrower may make Restricted Payments to any 
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other Pre-Export Borrower with respect to any Permitted Intercompany Indebtedness, (iv) any Pre-Export Borrower or Pre-Export Guarantor may make Restricted Payments to the Parent with respect to Permitted Intercompany Indebtedness in accordance with the Subordination Agreement applicable to such Permitted Intercompany Indebtedness and (v) any member of the Parent Group may make Restricted Payments to Bunge Limited, BP Biocombustíveis S.A. or any of their respective Affiliates with respect to Permitted Shareholder Indebtedness in accordance with the Subordination Agreement applicable to such Permitted Shareholder Indebtedness.
111.Hedge Agreements.  Enter into any Hedge Agreement other than Hedge Agreements, entered into in the ordinary course of business, including without limitation, Hedge Agreements entered into to manage pricing risk related to any agricultural commodities or products, foreign exchange rates and interest rates.
112.Anti-Money Laundering and Sanctions.
lvi.Anti-Money Laundering.  Knowingly conduct its operations in violation of any applicable financial recordkeeping and reporting requirements of the U.S. Bank Secrecy Act of 1970, as amended, the money laundering statutes of all jurisdictions, the rules and regulations thereunder and any related or similar rules, regulations or guidelines issued, administered or enforced by any applicable authority (collectively, the “Money Laundering Laws”), and no action or inquiry by or before any authority involving it with respect to Money Laundering Laws is pending or, to the best of the knowledge of its Responsible Officers, is threatened.
lvii.Sanctions and Anti-Corruption.  Knowingly use, or permit any of its Subsidiaries to use, any funds derived from any activity that would violate Sanctions or any Anti-Corruption Laws to pay any of the obligations under the Pre-Export Loan Documents.
113.Loans and Guarantees.  Except as contemplated by the Pre-Export Loan Documents and Permitted Intercompany Loans, make any loan or advance or credit to, or guarantee (directly or indirectly or by an instrument having the effect of assuring another’s payment or performance on any obligation or capability of so doing or otherwise), endorse or otherwise become contingently liable, directly or indirectly, in connection with the obligations, stocks or dividends of, any other Person other than in the ordinary course of business.
114.Governing Documents.  Amend its Governing Documents without the prior written consent of the Pre-Export Administrative Agent if such amendment could reasonably be expected to materially adversely affect the Pre-Export Credit Parties or result in a Material Adverse Effect.
115.Transactions with Affiliates.  Enter into or cause or permit to exist any arrangement, transaction or contract (including for the purchase, sale, lease or exchange of property or the rendering of services) with any of its Affiliates, unless such arrangement, transaction or contract is:
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lviii.in the ordinary course of their respective businesses and on fair and reasonable terms no less favorable to the Pre-Export Loan Party than it could obtain in an arm’s length transaction with a Person that is not an Affiliate; 
lix.carried out between the Pre-Export Loan Parties; or
lx.Permitted Shareholder Indebtedness or Permitted Intercompany Indebtedness. 
116.Fiscal Year.  Change its fiscal year.
117.FATCA.  No Pre-Export Loan Party shall be or become a U.S. Tax Obligor.
d.Financial Covenants
.  The Pre-Export Borrowers shall, based on the financial statements delivered for each fiscal quarter in accordance with Section 5.1(g) and each fiscal year in accordance with Section 5.1(f) and prepared in accordance with IFRS, ensure that as of the end of each fiscal quarter of the Pre-Export Borrowers:
118.the Total Net Leverage Ratio is equal to or less than [●];
119.the Interest Coverage Ratio is equal to or greater than [●]; and

120.the Net Debt/Total Assets Ratio is equal to or less than [●]; 
(each a “Financial Covenant” and together the “Financial Covenants”).
e.Use of Websites
.    The Pre-Export Borrowers may satisfy their obligation to deliver any public information to the Pre-Export Lenders by posting this information onto an electronic website designated by the Pre-Export Borrower Representative and the Pre-Export Administrative Agent (the “Designated Website”) by notifying the Pre-Export Administrative Agent (i) of the address of the website together with any relevant password specifications and (ii) that such information has been posted on the website; provided, that in any event the Pre-Export Borrower Representative shall supply the Pre-Export Administrative Agent with one copy in paper form of any information which is posted onto the website.
121.The Pre-Export Administrative Agent shall supply each Pre-Export Lender with the address of and any relevant password specifications for the Designated Website following designation of that website by the Pre-Export Borrower Representative and the Pre-Export Administrative Agent.
122.The Pre-Export Borrowers shall promptly upon becoming aware of its occurrence notify the Pre-Export Administrative Agent if:
lxi.the Designated Website cannot be accessed due to technical failure;
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lxii.the password specifications for the Designated Website change;
lxiii.any new information which is required to be provided under this Agreement is posted onto the Designated Website; 
lxiv.any existing information which has been provided under this Agreement and posted onto the Designated Website is amended; or
lxv.the Pre-Export Borrowers becomes aware that the Designated Website or any information posted onto the Designated Website is or has been infected by any electronic virus or similar software.  
If any Pre-Export Borrower notifies the Pre-Export Administrative Agent under Section 5.5(c)(i) or Section 5.5(c)(v) above, all information to be provided by any Pre-Export Borrower under this Agreement after the date of that notice shall be supplied in paper form unless and until the Pre-Export Administrative Agent is satisfied that the circumstances giving rise to the notification are no longer continuing.
SECTION 241.EVENTS OF DEFAULT
If any of the following events shall occur and be continuing on or after the Conversion Date:
123.any Pre-Export Loan Party shall fail to pay any principal of any Pre-Export Loan when due in accordance with the terms hereof; or any Pre-Export Loan Party shall fail to pay any interest on any Pre-Export Loan, fees or any other amount payable hereunder or under any other Pre-Export Loan Document, within three (3) days after any such interest, fees or other amount becomes due in accordance with the terms hereof; or
124.any representation or warranty made or deemed made by any Pre-Export Borrower herein or in any other Pre-Export Loan Document or that is contained in any certificate, document or financial or other statement furnished by it at any time under or in connection with this Agreement or any such other Pre-Export Loan Document shall prove to have been inaccurate in any material respect on or as of the date made or deemed made; or
125.any Pre-Export Borrower shall default in the observance or performance of any agreement contained in Section 5.1(e), Section 5.1(f), Section 5.1(g), Section 5.1(h), Section 5.1(i), Section 5.1(j)(i), Section 5.3, or Section 5.4 of this Agreement; or
126.any Pre-Export Borrower shall default in the observance or performance of any agreement contained in Section 5.1(q)(xii), and such default shall continue unremedied for a period of ninety (90) days; or
127.any Pre-Export Loan Party shall default in the observance or performance of any other agreement contained in this Agreement or any other Pre-Export Loan Document (other than as provided in paragraphs (a) through (c) of this Section), and such default shall continue unremedied for a period of thirty (30) days after the earlier of (i) the date on which a Responsible 
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Officer of any Pre-Export Borrower has knowledge of such default and (ii) any Pre-Export Borrower receives written notice thereof from any Pre-Export Agent or any Pre-Export Lender; or
128.any Pre-Export Loan Party shall (i) default in making any payment of any principal of any Indebtedness (excluding the Pre-Export Loans) on the scheduled or original due date with respect thereto; or (ii) default in making any payment of any interest on any such Indebtedness (including any Guarantee Obligations) beyond the period of grace, if any, provided in the instrument or agreement under which such Indebtedness was created; or (iii) default in the observance or performance of any other agreement or condition relating to any such Indebtedness or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event shall occur or condition exist, the effect of which default or other event or condition is to cause, or to permit the holder or beneficiary of such Indebtedness (or a trustee or agent on behalf of such holder or beneficiary) to cause, with the giving of notice if required, such Indebtedness to become due prior to its stated maturity or, in the case of any such Indebtedness constituting a Guarantee Obligation, to become payable; provided, that a default, event or condition described in clauses (i), (ii) or (iii) of this paragraph (f) shall not at any time constitute an Event of Default unless, at such time, one or more defaults, events or conditions of the type described in clauses (i), (ii) and (iii) of this paragraph (f) shall have occurred and be continuing with respect to Indebtedness the outstanding principal amount of which exceeds in the aggregate the Dollar Equivalent of the Applicable Threshold; or
129.(i) any Pre-Export Loan Party shall commence any case, proceeding or other action (A) under any existing or future law of any jurisdiction, domestic or foreign, relating to falência, bankruptcy, insolvency, reorganization or relief of debtors, seeking to have an order for relief entered with respect to it, or seeking to adjudicate it a falência, bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, windingup, liquidation, dissolution, composition or other relief with respect to it or its debts, or (B) seeking appointment of a receiver, trustee, custodian, administrador judicial, liquidator, conservator or other similar official for it or for all or any substantial part of its assets, or any Pre-Export Loan Party shall make a general assignment for the benefit of its creditors; or (ii) there shall be commenced against any Pre-Export Loan Party any case, proceeding or other action of a nature referred to in clause (i) above that (A) results in the entry of an order for relief or any such adjudication or appointment or (B) remains undismissed, undischarged or unbonded for a period of sixty (60) days; or (iii) there shall be commenced against any Pre-Export Loan Party any case, proceeding or other action seeking issuance of a warrant of attachment, execution, distraint or similar process against all or any substantial part of its assets that results in the entry of an order for any such relief that shall not have been vacated, discharged, or stayed or bonded pending appeal within sixty (60) days from the entry thereof; or (iv) any Pre-Export Loan Party shall take any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the acts set forth in clause (i), (ii) or (iii) above; or (v) any Pre-Export Loan Party shall generally not, or shall be unable to, or shall admit in writing its inability to, pay its debts as they become due; or
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130.one or more protesto(s) de títulos shall be issued against any Pre-Export Loan Party for the payment of money in an aggregate amount in excess of the Applicable Threshold (or its Dollar Equivalent) and such Pre-Export Loan Party shall have failed to (x) suspend or cancel the effects of such protesto(s) de títulos within the period stipulated by the Requirement of Law or (y) post judicial bonds with respect to such protesto(s) de títulos accepted by the relevant court;
131.Brazil or any Governmental Authority thereof shall declare a moratorium on the payment of external indebtedness by Brazil or any Governmental Authority thereof or any other Person therein or shall fail to approve or permit exchanges of Reais for Dollars or otherwise restrict or prevent any such exchange in a manner that would directly or indirectly prevent the Pre-Export Loan Parties from repaying the Pre-Export Loans;
132.one or more judgments or decrees shall be entered against any Pre-Export Loan Party involving in the aggregate a liability (not paid or fully covered by insurance as to which the relevant insurance company has acknowledged coverage) the Dollar Equivalent of the Applicable Threshold or more, and all such judgments or decrees shall not have been vacated, discharged, stayed or bonded pending appeal within thirty (30) days from the entry thereof; or
133.any of the Pre-Export Loan Documents shall cease, for any reason, to be in full force and effect or any Pre-Export Loan Party shall so assert in writing; or
134.any Pre-Export Loan Party shall become an “investment company” within the meaning of the Investment Company Act of 1940, as amended, and shall not be exempt from compliance under such Act; or
135.following the occurrence of a SugarCo COC Event, a Change in Control (other than a SugarCo COC Event) shall have occurred; or
136.any event or circumstance described in Articles 333 or 1.425 of the Civil Code (Código Civil) of Brazil in relation to any Pre-Export Loan Party shall have occurred; or
137.Any Governmental Approval at any time necessary to enable any Pre-Export Loan Party to comply with any of its obligations under any of the Pre-Export Loan Documents shall be revoked, withdrawn, withheld or otherwise not in full force and effect and is not reinstated to the satisfaction of the Required Pre-Export Lenders within the earlier of (a) ninety (90) days or (b) prior to the third Business Day before the day in which it shall be required to enable such Pre-Export Loan Party to comply with its obligations under the Pre-Export Loan Documents, or shall be modified or amended in a manner that in the aggregate has had or could reasonably be expected to have a Material Adverse Effect; provided, however that any such event shall not constitute an Event of Default if the Pre-Export Borrowers are either contesting such event in good faith or have filed a legal or administrative proceeding seeking to reinstate such Governmental Approval; or
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138.any Lien provided for in the Pre-Export Loan Documents shall cease to exist or cease to give the applicable Agent (on behalf of the Pre-Export Credit Parties) a first priority perfected security interest (subject to Permitted Liens); or
139.any Governmental Authority shall: (i) take any action to condemn, seize, nationalize, expropriate or appropriate all or any substantial part of the property of any Pre-Export Loan Party (either with or without payment of compensation), or (ii) take any other action that (A) in the aggregate, has had or would reasonably be expected to have a Material Adverse Effect or purports to render any of the Pre-Export Loan Documents invalid or unenforceable or to prevent the performance or observance by any Pre-Export Borrower of its obligations thereunder or (B) shall, for ninety (90) or more days, prevent any Pre-Export Loan Party from exercising normal control over all or any substantial part of its property; or
140.any ROF or related schedules of payments required pursuant to this Agreement (i) shall cease to be in full force and effect or (ii) shall be modified or amended without the prior written consent of the Pre-Export Administrative Agent, which consent shall not be unreasonably withheld so long as such modification or amendment does not in the good faith opinion of the Required Pre-Export Lenders adversely affect the interests of any Pre-Export Lender Parties (provided, that such consent shall not be required for any amendment of any ROF that is necessary in connection with an adjustment to the Applicable Margin); 
then, and in any such event, (A) if such event is an Event of Default specified in paragraph (g) above with respect to any Pre-Export Loan Party, then in such case automatically the Pre-Export Commitments shall immediately terminate and the Pre-Export Loans (with accrued interest thereon) and all other amounts owing under this Agreement and the other Pre-Export Loan Documents shall immediately become due and payable, and (B) if such event is any other Event of Default, any or all of the following actions may be taken:  (i) with the consent of the Required Pre-Export Lenders, the Pre-Export Administrative Agent may, or upon the request of the Required Pre-Export Lenders, the Pre-Export Administrative Agent shall, by notice to the Pre-Export Borrower Representative, declare the Pre-Export Commitments to be terminated forthwith, whereupon the Pre-Export Commitments shall immediately terminate and (ii) with the consent of the Required Pre-Export Lenders, the Pre-Export Administrative Agent may, or upon the request of the Required Pre-Export Lenders, the Pre-Export Administrative Agent shall, by notice to the Pre-Export Borrower Representative, declare the Pre-Export Loans (with accrued interest thereon) and all other amounts owing under this Agreement and the other Pre-Export Loan Documents to be due and payable forthwith, whereupon the same shall immediately become due and payable.  Except as expressly provided above in this Section, presentment, demand, protest and all other notices of any kind are hereby expressly waived by the Pre-Export Borrowers.
SECTION 242.THE PRE-EXPORT AGENTS
a.Appointment
.  Each Pre-Export Lender hereby irrevocably designates and appoints each Pre-Export Agent as the agent and attorney-in-fact of such Pre-Export Lender under this Agreement and the other Pre-
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Export Loan Documents, and each such Pre-Export Lender irrevocably authorizes each Pre-Export Agent, in such capacity, to receive the Collateral on behalf of the Pre-Export Lenders and take such action on its behalf under the provisions of this Agreement and the other Pre-Export Loan Documents and to exercise such powers and perform such duties as are expressly delegated to such Pre-Export Agent by the terms of this Agreement and the other Pre-Export Loan Documents, together with such other powers as are reasonably incidental thereto.   Notwithstanding any provision to the contrary elsewhere in this Agreement, no Agent shall have any duties or responsibilities, except those expressly set forth herein, or any fiduciary relationship with any Pre-Export Lender, and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Pre-Export Loan Document or otherwise exist against any Pre-Export Agent.
b.Delegation of Duties
.  Any Pre-Export Agent may execute any of its duties under this Agreement and the other Pre-Export Loan Documents by or through agents or attorneysinfact and shall be entitled to advice of counsel concerning all matters pertaining to such duties.  No Agent shall be responsible for the negligence or misconduct of any agents or attorneys infact selected by it with reasonable care.
c.Exculpatory Provisions
.  Neither any Pre-Export Agent nor any of its officers, directors, employees, agents, attorneysinfact or Affiliates shall be (i) liable for any action lawfully taken or omitted to be taken by it or such Person under or in connection with this Agreement or any other Pre-Export Loan Document (except to the extent that any of the foregoing are found by a court of competent jurisdiction to have resulted from its or such Person’s own gross negligence or willful misconduct) or (ii) responsible in any manner to any of the Pre-Export Lenders for any recitals, statements, representations or warranties made by any Pre-Export Borrower or any officer thereof contained in this Agreement or any other Pre-Export Loan Document or in any certificate, report, statement or other document referred to or provided for in, or received by any Pre-Export Agent under or in connection with, this Agreement or any other Pre-Export Loan Document or for the value, validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Pre-Export Loan Document or for any failure of any Pre-Export Borrower a party thereto to perform its obligations hereunder or thereunder.  No Agent shall be under any obligation to any Pre-Export Lender to ascertain or to inquire as to the observance or performance of any of the agreements contained in, or conditions of, this Agreement or any other Pre-Export Loan Document, or to inspect the properties, books or records of any Pre-Export Borrower.
d.Reliance by Agents
.  Each Pre-Export Agent shall be entitled to rely, and shall be fully protected in relying, upon any instrument, writing, resolution, notice, consent, certificate, affidavit, letter, telecopy, telex or teletype message, statement, order or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and 
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upon advice and statements of legal counsel (including counsel to the Pre-Export Borrowers), independent accountants and other experts selected by such Pre-Export Agent.  The Pre-Export Agents may deem and treat the payee of any note as the owner thereof for all purposes unless a written notice of assignment, negotiation or transfer thereof shall have been filed with the Pre-Export Administrative Agent.  Each Pre-Export Agent shall be fully justified in failing or refusing to take any action under this Agreement or any other Pre-Export Loan Document unless it shall first receive such advice or concurrence of the Required Pre-Export Lenders (or, if so specified by this Agreement, all Pre-Export Lenders) as it deems appropriate or it shall first be indemnified to its satisfaction by the Pre-Export Lenders against any and all liability and expense that may be incurred by it by reason of taking or continuing to take any such action.  Each Pre-Export Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Pre-Export Loan Documents in accordance with a request of the Required Pre-Export Lenders (or, if so specified by this Agreement, all Pre-Export Lenders), and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Pre-Export Lenders and all future holders of the Pre-Export Loans.
e.Notice of Default
.  No Agent shall be deemed to have knowledge or notice of the occurrence of any Default or Event of Default unless such Pre-Export Agent has received notice from a Pre-Export Lender or the Pre-Export Borrowers referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default”.  In the event that the Pre-Export Administrative Agent receives such a notice, the Pre-Export Administrative Agent shall give notice thereof to the Pre-Export Lenders.  Each Pre-Export Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Pre-Export Lenders (or, if so specified by this Agreement, all Pre-Export Lenders); provided that unless and until an Agent shall have received such directions, such Pre-Export Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable in the best interests of the Pre-Export Lenders.
f.Non-Reliance on Agents and Other Pre-Export Lenders
.  Each Pre-Export Lender expressly acknowledges that neither any Pre-Export Agent nor any of its officers, directors, employees, agents, attorneysinfact or Affiliates have made any representations or warranties to it and that no act by any Pre-Export Agent hereafter taken, including any review of the affairs of a Pre-Export Borrower or any Affiliate of a Pre-Export Borrower, shall be deemed to constitute any representation or warranty by any Pre-Export Agent to any Pre-Export Lender.  Each Pre-Export Lender represents to the Pre-Export Agents that it has, independently and without reliance upon any Pre-Export Agent or any other Pre-Export Lender, and based on such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, operations, property, financial and other condition and creditworthiness of the Pre-Export Borrowers and their Affiliates and made its own decision to make its Pre-Export Loans hereunder and enter into this Agreement.  Each Pre-Export Lender also represents that it will, independently and without reliance upon any Pre-
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Export Agent or any other Pre-Export Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under this Agreement and the other Pre-Export Loan Documents, and to make such investigation as it deems necessary to inform itself as to the business, operations, property, financial and other condition and creditworthiness of the Pre-Export Borrowers and their Affiliates.  Except for notices, reports and other documents expressly required to be furnished to the Pre-Export Lenders by an Agent hereunder, no Agent shall have any duty or responsibility to provide any Pre-Export Lender with any credit or other information concerning the business, operations, property, condition (financial or otherwise), prospects or creditworthiness of any Pre-Export Borrower or any Affiliate of a Pre-Export Borrower that may come into the possession of such Pre-Export Agent or any of its officers, directors, employees, agents, attorneysinfact or Affiliates.
g.Indemnification
.  The Pre-Export Lenders agree to indemnify each Pre-Export Agent in its capacity as such (to the extent not reimbursed by the Pre-Export Borrowers and without limiting the obligation of the Pre-Export Borrowers to do so), ratably according to their respective Aggregate Exposure Percentages in effect on the date on which indemnification is sought under this Section (or, if indemnification is sought after the date upon which the Pre-Export Commitments shall have terminated and the Pre-Export Loans shall have been paid in full, ratably in accordance with such Aggregate Exposure Percentages immediately prior to such date), from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind whatsoever that may at any time (whether before or after the payment of the Pre-Export Loans) be imposed on, incurred by or asserted against such Pre-Export Agent in any way relating to or arising out of, the Pre-Export Commitments, this Agreement, any of the other Pre-Export Loan Documents or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby or any action taken or omitted by any Pre-Export Agent under or in connection with any of the foregoing; provided that no Pre-Export Lender shall be liable for the payment of any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements that are found by a decision of a court of competent jurisdiction to have resulted from the applicable Agent’s gross negligence or willful misconduct.  The agreements in this Section shall survive the payment of the Pre-Export Loans and all other amounts payable hereunder.
h.Agent in Its Individual Capacity
.  Each Pre-Export Agent and its Affiliates may make loans to, accept deposits from and generally engage in any kind of business with any Pre-Export Borrower as though such Pre-Export Agent were not an Agent.  With respect to its Pre-Export Loans made or renewed by it, each Pre-Export Agent shall have the same rights and powers under this Agreement and the other Pre-Export Loan Documents as any Pre-Export Lender and may exercise the same as though it were not an Agent, and the terms “Pre-Export Lender” and “Pre-Export Lenders” shall include each such Pre-Export Agent in its individual capacity.
i.Successor Agents
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.  Each Pre-Export Agent may resign, or shall resign upon the request of the Required Pre-Export Lenders in the event such Pre-Export Agent becomes a Defaulting Pre-Export Lender and is not a Performing Pre-Export Lender, as Agent upon ten (10) days’ notice to the Pre-Export Lenders and the Pre-Export Borrower Representative.  If an Agent shall resign as Agent under this Agreement and the other Pre-Export Loan Documents, then the Required Pre-Export Lenders shall appoint from among the Pre-Export Lenders a successor Agent, which successor Agent shall (unless an Event of Default under Sections 6(a) or 6(f) with respect to any Pre-Export Borrower shall have occurred and be continuing) be subject to approval by the Pre-Export Borrower Representative (which approval shall not be unreasonably withheld or delayed), whereupon such successor agent shall succeed to the rights, powers and duties of the applicable Agent, and the term “Pre-Export Administrative Agent,” “Pre-Export Collateral Agent” or “Onshore Collateral Agent”, as applicable, shall mean such successor agent effective upon such appointment and approval, and the former Agent’s rights, powers and duties as Agent shall be terminated, without any other or further act or deed on the part of such former Agent or any of the parties to this Agreement or any holders of the Pre-Export Loans.  If no successor agent has accepted appointment as Agent by the date that is ten (10) days following a retiring Agent’s notice of resignation, the retiring Agent’s resignation shall nevertheless thereupon become effective, and the Pre-Export Lenders shall assume and perform all of the duties of the Pre-Export Agent hereunder until such time, if any, as the Required Pre-Export Lenders appoint a successor agent as provided for above.  After any retiring Agent’s resignation as Agent, the provisions of this Section 7 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Agent under this Agreement and the other Pre-Export Loan Documents.  
j.Pre-Export Lead Arrangers and Pre-Export Bookrunners
.  None of the Pre-Export Joint Lead Arrangers, the Pre-Export Joint Bookrunners nor the Pre-Export Senior Mandated Lead Arranger shall have any duties or responsibilities hereunder in its capacity as such. 
k.Agent Communications
.  Each Pre-Export Agent shall provide to each Pre-Export Lender a copy of each material report, certificate, statement or other communication required to be delivered to it under the Pre-Export Loan Documents and which has not been delivered to the Pre-Export Lenders; provided, that posting by the Pre-Export Agent to Intralinks or to a similar electronic distribution location shall satisfy the requirements of this Section.  Without limiting the foregoing, none of such Pre-Export Lenders shall have or be deemed to have a fiduciary relationship with any Pre-Export Lender.  The Pre-Export Lenders are not partners or co ventures, and no Pre-Export Lender shall be liable for the acts or omissions of, or (except as otherwise set forth herein in case of any Pre-Export Agent) authorized to act for, any other Pre-Export Lender. 
SECTION 243.MISCELLANEOUS
a.Amendments and Waivers
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.    Neither this Agreement, any other Pre-Export Loan Document, nor any terms hereof or thereof may be amended, supplemented or modified except in accordance with the provisions of this Section 8.1.  The Required Pre-Export Lenders and each Pre-Export Borrower party to the relevant Pre-Export Loan Document may, or, with the written consent of the Required Pre-Export Lenders, each Pre-Export Agent and each Pre-Export Borrower party to the relevant Pre-Export Loan Document may, from time to time, (i) enter into written amendments, supplements or modifications hereto and to the other Pre-Export Loan Documents for the purpose of adding any provisions to this Agreement or the other Pre-Export Loan Documents or changing in any manner the rights of the Pre-Export Lenders or of the Pre-Export Borrowers hereunder or thereunder or (ii) waive, on such terms and conditions as the Required Pre-Export Lenders or the applicable Agent, as the case may be, may specify in such instrument, any of the requirements of this Agreement or the other Pre-Export Loan Documents or any Default or Event of Default and its consequences; provided, however, that (A) no such waiver and no such amendment, supplement or modification shall (v) reduce (by way of forgiveness or otherwise) the principal amount or extend the final scheduled date of maturity of any Pre-Export Loan, reduce the amount or stated rate of any interest or fee payable hereunder (except (1) in connection with the waiver of applicability of any post-default increase in interest rates and (2) that any amendment or modification of defined terms used in the financial covenants in this Agreement or the other Pre-Export Loan Documents shall not constitute a reduction in the rate of interest or fees for purposes of this clause (v)) or extend the scheduled date of any payment thereof, or increase the amount or extend the expiration date of any Pre-Export Lender’s Pre-Export Commitment, or increase any Pre-Export Lender’s Aggregate Exposure Percentage, in each case without the written consent of each Pre-Export Lender directly affected thereby; (w) eliminate or reduce the voting rights of any Pre-Export Lender, or otherwise amend any provisions, under this Section 8.1 without the written consent of such Pre-Export Lender; (x) waive any of the conditions set forth in Section 4.1 or Section 4.2, reduce any percentage specified in the definition of Required Pre-Export Lenders, consent to the assignment or transfer by any Pre-Export Borrower of any of its rights and obligations under this Agreement and the other Pre-Export Loan Documents, amend or waive the Financial Covenants, Section 5.1(q)(vii), Section 5.1(q)(xii) or Section 5.1(q)(xiii); (y) amend or waive Section 3.17 or Section 5.3(h) or their related definitions, release a Pre-Export Guarantor or all or substantially all of the Collateral (other than in accordance with the provisions of the Pre-Export Loan Documents), or change any provision hereof requiring ratable funding or ratable sharing of payments or setoffs or otherwise related to the pro rata treatment of Pre-Export Lenders, in each case without the written consent of all Pre-Export Lenders; or (z) amend, modify or waive any provision of Section 7 without the written consent of each Pre-Export Agent and (B) the Pre-Export Administrative Agent and the Pre-Export Borrowers may amend this Agreement to add any documentation agent as a party hereto without the consent of any other Pre-Export Lender.  Any such waiver and any such amendment, supplement or modification shall apply equally to each of the Pre-Export Lenders and shall be binding upon the Pre-Export Borrowers, the Pre-Export Lenders, the Pre-Export Agents and all future holders of the Pre-Export Loans.  In the case of any waiver, the Pre-Export Borrowers, the Pre-Export Lenders and the Pre-Export Agents shall be restored to their former position and rights hereunder and under the other Pre-Export Loan Documents, and any Default or Event of Default waived shall be deemed to be cured and not continuing; but no such waiver 
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shall extend to any subsequent or other Default or Event of Default, or impair any right consequent thereon.
141.Notwithstanding Section 8.1(a), the Pre-Export Commitments and Aggregate Exposure of any Defaulting Pre-Export Lender that is not a Performing Pre-Export Lender shall be disregarded for all purposes of any determination of whether the Required Pre-Export Lenders have taken or may take any action hereunder (including any consent to any amendment or waiver pursuant to Section 8.1(a)), provided that any waiver, amendment or modification requiring the consent of all Pre-Export Lenders or each affected Pre-Export Lender shall require the consent of such Defaulting Pre-Export Lender.
b.Notices
.  All notices, requests and demands to or upon the respective parties hereto to be effective shall be in writing (including by telecopy), and, unless otherwise expressly provided herein, shall be deemed to have been duly given or made when delivered, or three (3) Business Days after being deposited in the mail, postage prepaid, or, in the case of telecopy notice, when received, addressed as follows in the case of each Pre-Export Borrower, the Pre-Export Borrower Representative, the Pre-Export Administrative Agent and the Pre-Export Collateral Agent, and as set forth in an administrative questionnaire delivered to the Pre-Export Administrative Agent in the case of the Pre-Export Lenders, or to such other address as may be hereafter notified by the respective parties hereto:
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	Each Pre-Export Borrower and the Pre-Export Borrower Representative:	Bunge Açúcar e Bioenergia S.A. (current name of Usina Moema Açúcar e Álcool Ltda.) 
Naçőes Unidas, n° 12.399, 4°floor, Cj. 43B, Tower C
Edifício Landmark, Brooklin Paulista,
São Paulo, SP, CEP 04578-000 
Brasil

		

with a copy to: 

Attn: Treasurer 
Bunge Limited 
1391 Timberlake Manor Parkway
Chesterfield, MO 63017

Attn: Treasury
BP North America
501 Westlake Park Boulevard
Houston, TX  77079

	

	
		
	Pre-Export Administrative Agent:
	Sumitomo Mitsui Banking Corporation
Agency Services
277 Park Avenue
New York, New York 10172
Attention:  Priscilla Mark
Tel. No: 212-224-4265 
Telecopy: 212-918-1633
with a copy to:
Sumitomo Mitsui Banking Corporation
US Corporate Banking
277 Park Avenue
New York, NY 10172
Attention:  Patrick McGoldrick 
Tel. No.: 212-224-4228

		
	Pre-Export Collateral Agent:	Banco Rabobank International
Brasil S.A.
Av. das Nações Unidas, 12.995 – 7o andar
São Paulo – SP – Brazil 
Attention:  Operations/Middle Office Department
Tel. No: +55 11 5503-7000
Telecopy: +55 11 5503-7000
 

	Onshore Collateral Agent:	Banco Rabobank International
Brasil S.A.
Av. das Nações Unidas, 12.995 – 7o andar
São Paulo – SP – Brazil 
Attention:  Operations/Middle Office Department
Tel. No: +55 11 5503-7000
Telecopy: +55 11 5503-7000

provided that any notice, request or demand to or upon the Pre-Export Administrative Agent or the Pre-Export Lenders shall not be effective until received.
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c.No Waiver; Cumulative Remedies
.  No failure to exercise and no delay in exercising, on the part of the Pre-Export Administrative Agent or any Pre-Export Lender, any right, remedy, power or privilege hereunder or under the other Pre-Export Loan Documents shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.  The rights, remedies, powers and privileges herein provided are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law.
d.Survival of Representations and Warranties
.  All representations and warranties made hereunder, in the other Pre-Export Loan Documents and in any document, certificate or statement delivered pursuant hereto or in connection herewith shall survive the execution and delivery of this Agreement and the making of the Pre-Export Loans hereunder.
e.Payment of Expenses
.  The Pre-Export Borrowers agree jointly and severally (a) to pay or reimburse the Pre-Export Credit Parties for all reasonable outofpocket costs and expenses incurred in connection with the development, preparation and execution of, and any amendment, supplement or modification to, this Agreement and the other Pre-Export Loan Documents and any other documents prepared in connection herewith or therewith, and the consummation and administration of the transactions contemplated hereby and thereby, including the reasonable fees and disbursements of counsel to the Pre-Export Credit Parties and filing and recording fees and expenses, with statements with respect to the foregoing to be submitted to the Pre-Export Borrower Representative prior to the Conversion Date (in the case of amounts to be paid on the Conversion Date) and from time to time thereafter on a quarterly basis or such other periodic basis as the Pre-Export Credit Parties shall deem appropriate, (b) to pay or reimburse each Pre-Export Credit Party for all costs and expenses incurred in connection with the enforcement or preservation of any rights under this Agreement, the other Pre-Export Loan Documents and any such other documents, including the fees and disbursements of counsel (including the allocated fees and expenses of in-house counsel) to each Pre-Export Credit Party, (c) to pay, indemnify, and hold each Pre-Export Credit Party harmless from, any and all recording and filing fees that may be payable or determined to be payable in connection with the execution and delivery of, or consummation or administration of any of the transactions contemplated by, or any amendment, supplement or modification of, or any waiver or consent under or in respect of, this Agreement, the other Pre-Export Loan Documents and any such other documents, (d) to pay or reimburse each Pre-Export Credit Party for all its reasonable out-of-pocket costs and expenses incurred in connection with any Credit Agreement Refinancing Indebtedness and any related documents, including the reasonable fees and disbursements of counsel to each Pre-Export Credit Party and (e) to pay, indemnify, and hold each Pre-Export Credit Party and their respective officers, directors, employees, Affiliates, agents and controlling persons (each, an “Indemnitee”) harmless from and against any and all other liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever with respect 
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to the execution, delivery, enforcement, performance and administration of this Agreement, the other Pre-Export Loan Documents and any such other documents, including any of the foregoing relating to the use of proceeds of the Pre-Export Loans or the violation of, noncompliance with or liability under, any Environmental Law applicable to the operations of any Pre-Export Borrower or any of the properties owned by such Pre-Export Borrower and the reasonable fees and expenses of legal counsel in connection with claims, actions or proceedings by any Indemnitee against any Pre-Export Borrower under any Pre-Export Loan Document (all the foregoing in this clause (d), collectively, the “Indemnified Liabilities”), provided, that the Pre-Export Borrowers shall have no obligation hereunder to any Indemnitee with respect to Indemnified Liabilities to the extent such Indemnified Liabilities are found by a final, non appealable judgment of a court of competent jurisdiction to have resulted from the gross negligence or willful misconduct of such Indemnitee.  Without limiting the foregoing, and to the extent permitted by applicable law, the Pre-Export Borrowers agree not to assert, and hereby waive, all rights for contribution or any other rights of recovery with respect to all claims, demands, penalties, fines, liabilities, settlements, damages, costs and expenses of whatever kind or nature, under or related to Environmental Laws, that any of them might have by statute or otherwise against any Indemnitee.  For the avoidance of doubt, no Indemnitee shall be liable for any damages arising from the use by unintended recipients of any information or other materials distributed by it through telecommunications, electronic or other information transmission systems in connection with this Agreement or the other Pre-Export Loan Documents or the transactions contemplated hereby or thereby, except to the extent that any such damages are determined in a final and non-appealable judgment of a court of competent jurisdiction, to result from the willful misconduct or gross negligence of such Indemnitee.  All amounts due under this Section 8.5 shall be payable not later than ten (10) days after written demand to the Pre-Export Borrower Representative therefor.  The agreements in this Section 8.5 shall survive repayment of the Pre-Export Loans and all other amounts payable hereunder.  Notwithstanding the foregoing, and for the avoidance of doubt, this Section 8.5 shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from a non-Tax claim.
f.Successors and Assigns; Participations and Assignments
.    This Agreement shall be binding upon and inure to the benefit of the Pre-Export Borrowers, the Pre-Export Lenders, the Pre-Export Agents, all future holders of the Pre-Export Loans and their respective successors and assigns, except that (i) no Pre-Export Borrower may assign or transfer any of its rights or obligations under this Agreement without the prior written consent of each Pre-Export Lender and (ii) any attempted assignment or transfer by a Pre-Export Borrower without such consent shall be null and void.
142.Any Pre-Export Lender may, without the consent of the Pre-Export Borrowers, in accordance with applicable law, at any time sell to one or more banks, financial institutions or other entities (each, a “Participant”) participating interests in any Pre-Export Loan owing to such Pre-Export Lender, the Pre-Export Commitment of such Pre-Export Lender or any other interest of such Pre-Export Lender hereunder and under the other Pre-Export Loan Documents.  In the event of any such sale by a Pre-Export Lender of a participating interest to a Participant, such Pre-Export Lender’s obligations under this Agreement to the other parties to this Agreement 
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shall remain unchanged, such Pre-Export Lender shall remain solely responsible for the performance thereof, such Pre-Export Lender shall remain the holder of any such Pre-Export Loan for all purposes under this Agreement and the other Pre-Export Loan Documents, and the Pre-Export Borrower Representative and the Pre-Export Administrative Agent shall continue to deal solely and directly with such Pre-Export Lender in connection with such Pre-Export Lender’s rights and obligations under this Agreement and the other Pre-Export Loan Documents.  In no event shall any Participant under any such participation have any right to approve any amendment or waiver of any provision of any Pre-Export Loan Document, or any consent to any departure by any Pre-Export Borrower therefrom, except any amendment, waiver or consent described in the proviso to Section 8.1(a) that affects such Participant, in each case to the extent subject to such participation.  Each Pre-Export Borrower agrees that if amounts outstanding under this Agreement and the Pre-Export Loans are due or unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of Default, each Participant shall, to the maximum extent permitted by applicable law, be deemed to have the right of setoff in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest were owing directly to it as a Pre-Export Lender under this Agreement, provided that, in purchasing such participating interest, such Participant shall be deemed to have agreed to share with the Pre-Export Lenders the proceeds thereof as provided in Section 8.7 as fully as if it were a Pre-Export Lender hereunder.  Each Pre-Export Borrower also agrees that each Participant shall be entitled to the benefits of Sections 2.12, 2.13 and 2.14 (and subject to the limitations thereof) with respect to its participation in the Pre-Export Commitments and the Pre-Export Loans outstanding from time to time as if it was a Pre-Export Lender; provided that, in the case of Section 2.13, such Participant shall have complied with the requirements of Section 2.13 (including the requirements under Sections 2.13(f) and 2.13(g) (it being understood that the documentation required under Sections 2.13(f) and 2.13(g) shall be delivered to the participating Pre-Export Lender) as if it was a Pre-Export Lender that had acquired its interest by assignment, and provided, further, that no Participant shall be entitled to receive any greater amount pursuant to Sections 2.12, 2.13 or 2.14 (as the case may be) than the transferor Pre-Export Lender would have been entitled to receive in respect of the amount of the participation transferred by such transferor Pre-Export Lender to such Participant had no such transfer occurred, except to the extent such entitlement to receive a greater payment results from a Change in Law that occurs after the Participant acquired the applicable participation.  Each Pre-Export Lender that sells a participation shall, acting as a non-fiduciary agent on behalf of the Pre-Export Borrowers, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s interest in the Pre-Export Loans or other obligations under this Agreement (the “Participant Register”); provided that no Pre-Export Lender shall have any obligation to disclose all or any portion of the Participant Register to any Person (including the identity of any Participant or any information relating to a Participant’s interest in any Pre-Export Commitments or Pre-Export Loans or its other obligations under any Pre-Export Loan Document) except to the extent that such disclosure is necessary to establish that such Pre-Export Commitment, or Pre-Export Loan or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations.  The entries in the Participant Register shall be conclusive, in the absence of manifest error, and such Pre-Export Lender, each Pre-Export Borrower and the Pre-Export Administrative Agent shall treat each person whose name is recorded in the Participant Register 
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pursuant to the terms hereof as the owner of such participation for all purposes of this Agreement, notwithstanding notice to the contrary.
143.Any Pre-Export Lender (an “Assignor”) may, in accordance with applicable law, at any time and from time to time assign to any Person (other than a Pre-Export Borrower or any of its Affiliates) (an “Assignee”) all or any part of its rights and obligations under this Agreement and the other Pre-Export Loan Documents pursuant to an Assignment and Acceptance, executed by such Assignee, such Assignor and any other Person whose consent is required pursuant to this paragraph, and delivered to the Pre-Export Administrative Agent for its acceptance and recording in the Register; provided that (i) the consent of the Pre-Export Borrower Representative and the Pre-Export Administrative Agent (which, in each case, shall not be unreasonably withheld or delayed, and the Pre-Export Borrower Representative shall be deemed to have consented to any such assignment unless it objects thereto by written notice to the Pre-Export Lender and Pre-Export Administrative Agent within ten (10) Business Days after having received notice thereof) shall be required in the case of any assignment to a Person that is not a Pre-Export Lender or a Pre-Export Lender Affiliate (except that the consent of the Pre-Export Borrowers shall not be required for any assignment that occurs when either a Default or an Event of Default shall have occurred and be continuing), (ii) unless otherwise agreed by the Pre-Export Borrower Representative and the Pre-Export Administrative Agent, no such assignment to an Assignee (other than any Pre-Export Lender or any Pre-Export Lender Affiliate) shall be in an aggregate principal amount of less than $[●], in each case except in the case of an assignment of all of a Pre-Export Lender’s interests under this Agreement and (iii) any such assignment to an Assignee will include a corresponding assignment of the Assignor’s rights and obligations under the Framework Agreement.  For purposes of the proviso contained in the preceding sentence, the amount described therein shall be aggregated in respect of each Pre-Export Lender and its Pre-Export Lender Affiliates, if any.  Upon such execution, delivery, acceptance and recording, from and after the effective date determined pursuant to such Assignment and Acceptance, (x) the Assignee thereunder shall be a party hereto and, to the extent provided in such Assignment and Acceptance, have the rights and obligations of a Pre-Export Lender hereunder with a Pre-Export Commitment and/or Pre-Export Loans as set forth therein, (y) the Assignee thereunder shall become and be deemed a party to the Framework Agreement and a “Pre-Export Lender” thereunder for all purposes thereof and, to the extent provided in such Assignment and Acceptance, shall enjoy all rights and assume all obligations of the Assignor as a Pre-Export Lenders set forth in the Framework Agreement and (z) the Assignor thereunder shall, to the extent provided in such Assignment and Acceptance, be released from its obligations under this Agreement and the Framework Agreement (and, in the case of an Assignment and Acceptance covering all of an Assignor’s rights and obligations under this Agreement, such Assignor shall cease to be a party hereto) and under the Framework Agreement.
144.The Pre-Export Administrative Agent, acting as a non-fiduciary agent of the Pre-Export Borrowers solely for tax purposes, shall maintain at its address referred to in Section 8.2 a copy of each Assignment and Acceptance delivered to it and a register (the “Register”) for the recordation of the names and addresses of the Pre-Export Lenders and the Pre-Export Commitment of, and the principal amount (and stated interest) of the Pre-Export Loans owing to, each Pre-Export Lender from time to time, which Register shall be made available to the Pre-
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Export Borrowers and any Pre-Export Lender upon reasonable request.  The entries in the Register shall be conclusive, in the absence of manifest error, and the Pre-Export Borrowers, the Pre-Export Administrative Agent and the Pre-Export Lenders shall treat each Person whose name is recorded in the Register as the owner of the Pre-Export Loans and any Notes evidencing the Pre-Export Loans recorded therein for all purposes of this Agreement.  Any assignment of any Pre-Export Loan, whether or not evidenced by a Note, shall be effective only upon appropriate entries with respect thereto being made in the Register.  Any assignment or transfer of all or part of a Pre-Export Loan evidenced by a Note shall be registered on the Register only upon surrender for registration of assignment or transfer of the Note evidencing such Pre-Export Loan, accompanied by a duly executed Assignment and Acceptance, and thereupon one or more new Notes shall be issued to the designated Assignee.
145.Upon its receipt of an Assignment and Acceptance executed by an Assignor, an Assignee and any other Person whose consent is required by Section 8.6(c), the Pre-Export Administrative Agent shall (i) promptly accept such Assignment and Acceptance and (ii) record the information contained therein in the Register on the effective date determined pursuant thereto.
146.For avoidance of doubt, the parties to this Agreement acknowledge that the provisions of this Section 8.6 concerning assignments relate only to absolute assignments and that such provisions do not prohibit assignments creating security interests, including any pledge or assignment by a Pre-Export Lender to any Federal Reserve Bank or any other central bank in accordance with applicable law.
147.The Pre-Export Borrowers, upon receipt of written notice from the relevant Pre-Export Lender, agree to issue Notes to any Pre-Export Lender requiring Notes to facilitate transactions of the type described in paragraph (f) above.
g.Adjustments; Setoff
.    Except to the extent that this Agreement expressly provides for payments to be allocated to a particular Pre-Export Lender or to the Pre-Export Lenders on a non pro rata basis, if any Pre-Export Lender (a “Benefitted Pre-Export Lender”) shall receive any payment of all or part of the Obligations owing to it, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by setoff, pursuant to events or proceedings of the nature referred to in Section 6(g), or otherwise), in a greater proportion than any such payment to or collateral received by any other Pre-Export Lender, if any, in respect of the Obligations owing to such other Pre-Export Lender, such Benefitted Pre-Export Lender shall purchase for cash from the other Pre-Export Lenders a participating interest in such portion of the Obligations owing to each such other Pre-Export Lender, or shall provide such other Pre-Export Lenders with the benefits of any such collateral, as shall be necessary to cause such Benefitted Pre-Export Lender to share the excess payment or benefits of such collateral ratably with each of the Pre-Export Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such Benefitted Pre-Export Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. 
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148.In addition to any rights and remedies of the Pre-Export Lenders provided by law, upon the occurrence of an Event of Default, each Pre-Export Lender shall have the right, without prior notice to any Pre-Export Borrower, any such notice being expressly waived by the Pre-Export Borrowers to the extent permitted by applicable law, upon any amount becoming due and payable by any Pre-Export Borrower hereunder (whether at the stated maturity, by acceleration or otherwise), to set off and appropriate and apply against such amount any and all deposits (general or special, time or demand, provisional or final), in any currency, and any other credits, indebtedness or claims, in any currency, in each case whether direct or indirect, absolute or contingent, matured or unmatured, at any time held or owing by such Pre-Export Lender or any branch or agency thereof to or for the credit or the account of the Pre-Export Borrowers, as the case may be.  Each Pre-Export Lender agrees promptly to notify the Pre-Export Borrower Representative and the Pre-Export Administrative Agent after any such setoff and application made by such Pre-Export Lender, provided that the failure to give such notice shall not affect the validity of such setoff and application.
h.Counterparts
.  This Agreement may be executed by one or more of the parties to this Agreement on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument.  Delivery of an executed signature page of this Agreement by facsimile transmission or portable document format shall be effective as delivery of a manually executed counterpart hereof.  A set of the copies of this Agreement signed by all the parties shall be lodged with the Pre-Export Borrower Representative and the Pre-Export Administrative Agent.
i.Severability
.  Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.
j.Integration
.  This Agreement and the other Pre-Export Loan Documents represent the entire agreement of the Pre-Export Borrowers, the Pre-Export Administrative Agent and the Pre-Export Lenders with respect to the subject matter hereof and thereof, and there are no promises, undertakings, representations or warranties by the Pre-Export Administrative Agent or any Pre-Export Lender relative to the subject matter hereof not expressly set forth or referred to herein or in the other Pre-Export Loan Documents.
k.Governing Law
.  THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.  
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For purposes solely of Article 9 of Brazilian Decree Law No. 4,657 dated September 4, 1942, and Article 78 of the Brazilian Civil Code the transactions contemplated hereby have been constituted and proposed to the PRE-EXPORT Borrowers by the PRE-EXPORT Lenders outside Brazil.
l.Submission To Jurisdiction; Waivers
.  Each Pre-Export Borrower hereby irrevocably and unconditionally:
149.submits for itself and its property in any legal action or proceeding relating to this Agreement and the other Pre-Export Loan Documents to which it is a party, or for recognition and enforcement of any judgment in respect thereof, to the nonexclusive general jurisdiction of the courts of the State of New York sitting in New York county, the courts of the United States for the Southern District of New York, and appellate courts from any thereof;
150.consents that any such action or proceeding may be brought in such courts and waives any objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees not to plead or claim the same;
151.agrees that a final non-appealable judgment (a certified copy of which shall be conclusive evidence of the amount of any indebtedness of such Person arising out of, or relating in any way to, this Agreement or any Note, as the case may be) against such Person in any action, proceeding or claim arising out of, or relating in any way to, this Agreement or any Note, shall be conclusive and may be enforced by suit on the judgment in any court lawfully entitled to entertain such suit;
152.recognizes that the remedies of the Pre-Export Credit Parties specified in this Section are not exclusive and that the exercise of any such remedy shall not preclude any Pre-Export Credit Party from pursuing other remedies available to it in any competent court;
153.waives, to the fullest extent permitted by applicable law, all immunity (whether on the basis of sovereignty or otherwise) from jurisdiction, attachment and execution, both before and after judgment, to which such Person might otherwise be entitled in any action or proceeding in the courts of Brazil, the State of New York, the United States District Court for the Southern District of New York or any other jurisdiction, relating in any way to this Agreement or any Note, and agrees that such Pre-Export Borrower will neither raise nor claim any such immunity at or in respect of any such action or proceeding;
154.(i) designates and appoints Bunge Limited’s chief financial officer (from time to time) at its principal executive offices at 1391 Timberlake Manor Parkway Chesterfield, MO 63017 (the “Authorized Agent”) as its agent and attorney-in-fact to receive, accept and acknowledge for and on its behalf, and in respect of its property, service of any and all legal process, summons, notices and documents which may be served in any action or proceeding in the state courts sitting in the Borough of Manhattan in the City of New York, New York, United States of America or the United States District Court for the Southern District of New York until 
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the date that is one (1) year after the Pre-Export Maturity Date, (ii) confirms that the Authorized Agent has accepted such appointment and (iii) agrees that service in such manner shall, to the fullest extent permitted by law, be deemed effective service of process upon it in any such suit, action or proceeding.  If for any reason the Authorized Agent shall cease to be available to act as such, each of the Pre-Export Borrowers agrees to designate a new Authorized Agent in the Borough of Manhattan in the City of New York (and notify the Pre-Export Administrative Agent of such designation), on the terms and for the purposes of this provision, provided that the new Authorized Agent shall have accepted such designation in writing before the termination of the appointment of the prior Authorized Agent.  Each of the Pre-Export Borrowers further consents to the service of process or summons by certified or registered mail, postage prepaid, return receipt requested, directed to it at its address specified in Section 8.2.  Nothing herein shall in any way be deemed to limit the ability of any Pre-Export Credit Party to serve legal process in any other manner permitted by applicable law, and any service of process received by the Authorized agent shall, for all purposes under Brazilian law, be deemed to have been received by the Pre-Export Borrower.  At any time on or after the Conversion Date, BL may deliver written notice to the Pre-Export Administrative Agent and the Pre-Export Borrowers that BL’s chief financial officer shall no longer act as the Authorized Agent on behalf of the Pre-Export Borrowers (an “Authorized Agent Resignation Notice”) and, effective upon the Pre-Export Administrative Agent’s receipt of evidence that each Pre-Export Borrower has appointed a new agent for service of process in New York and such agent shall have accepted such appointment for a period ending one (1) year after the Pre-Export Maturity Date, BL shall no longer be the Authorized Agent for the Pre-Export Borrowers hereunder;
155.agrees that nothing herein shall affect the right to effect service of process in any other manner permitted by law or shall limit the right to sue in any other jurisdiction; and
156.waives, to the maximum extent not prohibited by law, any right it may have to claim or recover in any legal action or proceeding referred to in this Section any special, exemplary, punitive or consequential damages.
m.Acknowledgements
.  Each Pre-Export Borrower hereby acknowledges that:
157.it has been advised by counsel in the negotiation, execution and delivery of this Agreement and the other Pre-Export Loan Documents;
158.neither the Pre-Export Administrative Agent nor any Pre-Export Lender has any fiduciary relationship with or duty to any Pre-Export Borrower arising out of or in connection with this Agreement or any of the other Pre-Export Loan Documents, and the relationship between Pre-Export Administrative Agent and Pre-Export Lenders, on one hand, and the Pre-Export Borrowers, on the other hand, in connection herewith or therewith is solely that of debtor and creditor; and
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159.no joint venture is created hereby or by the other Pre-Export Loan Documents or otherwise exists by virtue of the transactions contemplated hereby among the Pre-Export Lenders or among the Pre-Export Borrowers and the Pre-Export Lenders.
n.Confidentiality
.  Each of the Pre-Export Administrative Agent and each Pre-Export Lender agrees to keep confidential all non-public information provided to it by any Pre-Export Borrower pursuant to this Agreement that is designated by such Pre-Export Borrower as confidential; provided that nothing herein shall prevent the Pre-Export Administrative Agent or any Pre-Export Lender from disclosing any such information (a) to the Pre-Export Administrative Agent, any other Pre-Export Lender or any Pre-Export Lender Affiliate, (b) subject to an agreement to comply with the provisions of this Section, to any actual or prospective Transferee or any direct or indirect counterparty to any Hedge Agreement (or any professional advisor to such counterparty), (c) to its employees, directors, agents, attorneys, accountants, auditors and other professional advisors or those of any of its Affiliates (the “Permitted Parties”), (d) upon the request or demand of any Governmental Authority, (e) in response to any order of any court or other Governmental Authority or as may otherwise be required pursuant to any Requirement of Law, (f) if requested or required to do so in connection with any litigation or similar proceeding, (g) that has been publicly disclosed, (h) to any credit insurance provider relating to any Pre-Export Borrower and its obligations, (i) to any direct, indirect, actual or prospective counterparty (and its advisor) to any swap, derivative or securitization transaction related to the obligations under this Agreement, (j) to the CUSIP Service Bureau or any similar organization, (k) in connection with the exercise of any remedy hereunder or under any other Pre-Export Loan Document, (l) in “league tables” and other similar trade publications, and, subject to the prior review and approval of the Pre-Export Borrower Representative (which shall not be unreasonably withheld), to the Pre-Export Credit Parties publication of tombstones and similar advertising materials relating to this Agreement (which information so disclosed shall consist of information customarily found in such publications, tombstones and advertising materials) or (m) with the prior written consent of the Pre-Export Borrower Representative.  In addition, the Pre-Export Administrative Agent and the Pre-Export Lenders may disclose the existence of this Agreement and information about this Agreement to market data collectors, similar service providers to the lending industry and service providers to the Pre-Export Agents and the Pre-Export Lenders in connection with the administration of this Agreement, the other Pre-Export Loan Documents and the Pre-Export Commitments; provided, that the Pre-Export Administrative Agent and the Pre-Export Lenders shall have obtained such service providers’ written agreement to maintain the confidentiality of all non-public information relating to this Agreement and the other Pre-Export Loan Documents.
Each Pre-Export Lender acknowledges that information furnished to it pursuant to this Agreement or the other Pre-Export Loan Documents may include material non-public information concerning the Pre-Export Borrowers and their Affiliates and their related parties or their respective securities, and confirms that it has developed compliance procedures regarding the use of material non-public information and that it will handle such material non-public information in accordance with those procedures and applicable law, including Federal and state securities laws.
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All information, including requests for waivers and amendments, furnished by the Pre-Export Borrowers or the Pre-Export Administrative Agent pursuant to, or in the course of administering, this Agreement or the other Pre-Export Loan Documents will be syndicate-level information, which may contain material non-public information about the Pre-Export Borrowers and its Affiliates and their related parties or their respective securities.  Accordingly, each Pre-Export Lender represents to the Pre-Export Borrowers and the Pre-Export Administrative Agent that it has identified in its administrative questionnaire a credit contact who may receive information that may contain material non-public information in accordance with its compliance procedures and applicable law, including Federal and state securities laws.
o.WAIVERS OF JURY TRIAL
.  EACH BORROWER, THE ADMINISTRATIVE AGENT AND THE LENDERS HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVE TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN.
p.Conversion of Currencies into Dollars
.  Unless the context otherwise requires, any calculation of an amount or percentage that is required to be made by the Pre-Export Borrower or the Pre-Export Administrative Agent under the Pre-Export Loan Documents shall be made by first converting any amounts denominated in Reais or any other applicable currency into Dollars at the Rate of Exchange.
q.U.S.A. Patriot Act
.  Each Pre-Export Lender hereby notifies the Pre-Export Borrowers that pursuant to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Patriot Act”), it is required to obtain, verify and record information that identifies the Pre-Export Borrowers, which information includes the name and address of the Pre-Export Borrowers and other information that will allow such Pre-Export Lender to identify the Pre-Export Borrowers in accordance with the Act.
r.Acknowledgment and Consent to Bail-In of EEA Financial Institutions
.  Notwithstanding anything to the contrary in any Pre-Export Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any EEA Financial Institution arising under any Pre-Export Loan Document, to the extent such liability is unsecured, may be subject to the Write-Down and Conversion Powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by:
160.the application of any Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an EEA Financial Institution; and
161.the effects of any Bail-in Action on any such liability, including, if applicable:
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lxvi.a reduction in full or in part or cancellation of any such liability;
lxvii.a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA Financial Institution, its parent entity, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement or any other Pre-Export Loan Document; or
lxviii.the variation of the terms of such liability in connection with the exercise of the Write-Down and Conversion Powers of any EEA Resolution Authority.
s.Effect of Restatement
.  This Agreement shall, except as otherwise expressly set forth herein, supersede the Existing Pre-Export Financing Agreement.  The parties hereto further acknowledge and agree that all references in the other Pre-Export Loan Documents to the Existing Pre-Export Financing Agreement shall be deemed to refer without further amendment to this Agreement.

SECTION 244.CO-BORROWER ARRANGEMENTS AND BORROWER REPRESENTATIVE
a.Status of Co-Pre-Export Borrowers
.  Each Pre-Export Borrower agrees that it is jointly and severally liable (devedores solidários) for, and absolutely and unconditionally guarantees to Agent and Pre-Export Lenders the prompt payment and performance of, all Obligations and all agreements under the Pre-Export Loan Documents.  Each Pre-Export Borrower agrees that its guaranty obligations hereunder constitute a continuing guaranty of payment and not of collection, that such obligations shall not be discharged until full payment and discharge of the Obligations, and that such obligations are absolute and unconditional, irrespective of (a) the genuineness, validity, regularity, enforceability, subordination or any future modification of, or change in, any Obligations or Pre-Export Loan Document, or any other document, instrument or agreement to which any Obligor is or may become a party or be bound; (b) the absence of any action to enforce this Agreement (including this Section) or any other Pre-Export Loan Document, or any waiver, consent or indulgence of any kind by the Pre-Export Agents or any Pre-Export Lender with respect thereto; (c) the existence, value or condition of, or failure to perfect a Lien or to preserve rights against, any security or guaranty for the Obligations or any action, or the absence of any action, by the Pre-Export Agents or any Pre-Export Lender in respect thereof (including the release of any security or guaranty); (d) the insolvency of any Pre-Export Borrower; (e) any election by an Agent or any Pre-Export Lender in an insolvency proceeding for the application of Section 1111(b)(2) of the United States Bankruptcy Code; (f) any borrowing or grant of a Lien by any other Pre-Export Borrower, as debtor-in-possession under Section 364 of the United States Bankruptcy Code or otherwise; (g) the disallowance of any claims of the Pre-Export 
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Agents or any Pre-Export Lender against any Pre-Export Borrower for the repayment of any Obligations under Section 502 of the United States Bankruptcy Code or otherwise; or (h) any other action or circumstances that might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor, except full payment and discharge of all Obligations.  If and to the extent that any Pre-Export Borrower shall fail to make any payment with respect to any of the Obligations as and when due or to perform any of the Obligations in accordance with the terms thereof, then in each such event each other Pre-Export Borrower will make such payment with respect to, or perform, such Obligation. 
b.Appointment of Pre-Export Borrower Representative; Nature of Relationship
.    Pre-Export Borrower Representative is hereby irrevocably and unconditionally appointed by each of the Pre-Export Borrowers as its agent and contractual representative hereunder and under each other Pre-Export Loan Document, which appointment is coupled with an interest and cannot be revoked, and each of the Pre-Export Borrowers irrevocably and unconditionally authorizes the Pre-Export Borrower Representative to act as the agent and contractual representative of such Pre-Export Borrower with the rights and duties expressly set forth herein and in the other Pre-Export Loan Documents.   
162.The Pre-Export Borrower Representative agrees irrevocably to act as such contractual representative upon the express conditions contained in this 8.19.  Additionally, each Pre-Export Borrower hereby irrevocably and unconditionally appoints the Pre-Export Borrower Representative as its agent to receive and direct all of the proceeds of the Pre-Export Loans, at which time the Pre-Export Borrower Representative shall promptly disburse such Pre-Export Loans to the appropriate Pre-Export Borrower.  None of the Pre-Export Lenders or their respective officers, directors, agents or employees shall be liable to the Pre-Export Borrower Representative or any Pre-Export Borrower for any action taken or omitted to be taken by the Pre-Export Borrower Representative or the Pre-Export Borrowers pursuant to this Section 9.2.
c.Powers
.  The Pre-Export Borrower Representative shall have and may exercise such powers under the Pre-Export Loan Documents as are specifically delegated to the Pre-Export Borrower Representative by the terms of each thereof, together with such powers as are reasonably incidental thereto.  The Pre-Export Borrower Representative shall have no implied duties to the Pre-Export Borrowers, or any obligation to the Pre-Export Lenders to take any action thereunder except any action specifically provided by the Pre-Export Loan Documents to be taken by the Pre-Export Borrower Representative. Without limitation of the foregoing, each Pre-Export Borrower other than the Pre-Export Borrower Representative hereby irrevocably and unconditionally authorizes the Pre-Export Borrower Representative, with full authority in the place and stead of each such Pre-Export Borrower and in the name of each such Pre-Export Borrower or otherwise in relation to the Pre-Export Loan Documents: (i) on behalf of such Pre-Export Borrower, to supply all information concerning such Pre-Export Borrower contemplated by this Agreement and the other Pre-Export Loan Documents and give all notices and instructions (including Pre-Export Borrowing Requests), to make such agreements and to effect 
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the relevant amendments, supplements and variations capable of being given, made or effected by such Pre-Export Borrower notwithstanding that they may affect such Pre-Export Borrower, without further reference to or the consent of such Pre-Export Borrower and (ii) to receive any notice, demand or other communication to such Pre-Export Borrower pursuant to the Pre-Export Loan Documents, and in each case such Pre-Export Borrower shall be bound as though such Pre-Export Borrower itself had given the notices and instructions or executed or made the agreements or effected the amendments, supplements or variations, or received the relevant notice, demand or other communication.
d.Employment of Agents
.  The Pre-Export Borrower Representative may execute any of its duties as the Pre-Export Borrower Representative hereunder and under any other Pre-Export Loan Document by or through its Responsible Officers.
[Signature pages follow.]

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IN WITNESS WHEREOF, the parties hereto have caused this Pre-Export Financing Agreement to be duly executed and delivered by their proper and duly authorized officers as of the day and year first above written.
									
			BUNGE AÇÚCAR E BIOENERGIA S.A., as Pre-Export Borrower and Pre-Export Borrower Representative
By:  /s/ G. Consul
Printed Name:  G. Consul
Title:  CEO

By:  /s/ Ricardo Carvalho
Printed Name:  Ricardo Carvalho
Title:  Commercial Director

[Signature Page to Pre-Export Financing Agreement]

USINA GUARIROBA LTDA., 
as Pre-Export Borrower

    By:  /s/ G. Consul
Printed Name:  G. Consul
Title:  CEO

By:  /s/ Ricardo Carvalho
Printed Name:  Ricardo Carvalho
Title:  Commercial Director

 [Signature Page to Pre-Export Financing Agreement]

PEDRO AFONSO AÇÚCAR & BIOENERGIA LTDA.,
as Pre-Export Borrower
By:  /s/ G. Consul
Printed Name:  G. Consul
Title:  CEO
By:  /s/ Ricardo Carvalho
Printed Name:  Ricardo Carvalho
Title:  Commercial Director

 [Signature Page to Pre-Export Financing Agreement]

USINA ITAPAGIPE AÇÚCAR E áLCOOL LTDA., 
as Pre-Export Borrower
By: /s/ G. Consul
Printed Name:  G. Consul
Title:  CEO
By:  /s/ Ricardo Carvalho
Printed Name:  Ricardo Carvalho
Title:  Commercial Director

 [Signature Page to Pre-Export Financing Agreement]

USINA FRUTAL AÇÚCAR E áLCOOL LTDA., 
as Pre-Export Borrower
By:  /s/ G. Consul
Printed Name:  G. Consul
Title:  CEO
By:  /s/ Ricardo Carvalho
Printed Name:  Ricardo Carvalho
Title:  Commercial Director

 [Signature Page to Pre-Export Financing Agreement]

AGROINDUSTRIAL SANTA JULIANA LTDA., 
as Pre-Export Borrower
By:  /s/ G. Consul
Printed Name:  G. Consul
Title:  CEO
By:  /s/ Ricardo Carvalho
Printed Name:  Ricardo Carvalho
Title:  Commercial Director

 [Signature Page to Pre-Export Financing Agreement]

USINA OUROESTE AÇÚCAR E áLCOOL LTDA., 
as Pre-Export Borrower 
By:  /s/ G. Consul
Printed Name:  G. Consul
Title:  CEO
By:  /s/ Ricardo Carvalho
Printed Name:  Ricardo Carvalho
Title:  Commercial Director
BP BIOENERGIA TROPICAL S.A., 
 [Signature Page to Pre-Export Financing Agreement]

as Pre-Export Borrower 
By:  /s/ Wilson Lucena
Printed Name:  Wilson Lucena
Title:  Director Industrial 
By:  /s/ Marcus Schlosser 
Printed Name:  Marcus Schlosser 
Title:  CFO
BP BIOENERGIA ITUIUTABA LTDA., 
 [Signature Page to Pre-Export Financing Agreement]

as Pre-Export Borrower 
By:  /s/ Wilson Lucena
Printed Name:  Wilson Lucena
Title:  Director Industrial 
By:  /s/ Marcus Schlosser 
Printed Name:  Marcus Schlosser 
Title:  CFO
BP BIOENERGIA ITUMBIARA S.A., 
 [Signature Page to Pre-Export Financing Agreement]

as Pre-Export Borrower 
By:  /s/ Wilson Lucena
Printed Name:  Wilson Lucena
Title:  Director Industrial 
By:  /s/ Marcus Schlosser 
Printed Name:  Marcus Schlosser 
Title:  CFO

WITNESSES:
____________________________        _____________________________
Name: Lucio Sugae            Name: Desiree Caetano Fernandes 
CPF/MF:    [●]                CPF/MF: [●]

 [Signature Page to Pre-Export Financing Agreement]

									
			SUMITOMO MITSUI BANKING CORPORATION, 
as Pre-Export Administrative Agent and a Pre-Export Lender
By:  /s/ Jun Ashley 
Printed Name:  Jun Ashley 
Title:  Director 

BANCO RABOBANK INTERNATIONAL BRASIL S.A., 

as Pre-Export Collateral Agent 
By:  /s/ Marcelo Rezende 
Printed Name:  Marcelo Rezende
By:  /s/ Ricardo Gusmam De Bri
Printed Name:  Ricardo Gusmam De Bri

COÖPERATIEVE RABOBANK U.A., 

as a Pre-Export Lender
By:  /s/ Marcelo Rezende 
Printed Name:  Marcelo Rezende
By:  /s/ Ricardo Gusmam De Bri
Printed Name:  Ricardo Gusmam De Bri

									
			ABN AMRO BANK N.V., 
as a Pre-Export Lender
By:  /s/ Mateus Praxedes Souza
Printed Name:  Mateus Praxedes Souza
By:  /s/ Nicolau Nardi
Printed Name: Nicolau Nardi

									
			ING BANK N.V., 
as a Pre-Export Lender
By:  /s/ Eber Faria, MD
Printed Name:  Eber Faria, MD
Title:  Head of Trade & Commodity Finance LATAM
By:  /s/ Samuel A.B. Canineu
Printed Name:  Samuel A.B. Canineu
Title:  Country Manager Brazil 

SCHEDULE 1

See attached.
SCHEDULE 2

See attached.
SCHEDULE 3

See attached.
SCHEDULE 4

Existing Indebtedness

[●]

EXHIBIT A
[●]

EXHIBIT B
FORM OF ASSIGNMENT AND ACCEPTANCE
[●]

EXHIBIT C
FORM OF FUNDING INDEMNITY LETTER AGREEMENT

    
[●]
    

EXHIBIT D
FORM OF NOTE
[●]

EXHIBIT E
FORM OF COMPLIANCE CERTIFICATE

[●]Document

Exhibit 10.29
AS OF JANUARY 27, 2021

    ANNEX X
“1940 Act” shall mean the United States Investment Company Act of 1940, as amended.
“ABR” shall mean, for any day, a rate per annum equal to the greatest of (a) the Prime Rate in effect on such day, (b) the NYFRB Rate in effect on such day plus 1⁄2 of 1% and (c) the Adjusted LIBOR Rate for a one month Interest Period on such day (or if such day is not a Business Day, the immediately preceding Business Day) plus 1%; provided that for the purpose of this definition, the Adjusted LIBOR Rate for any day shall be based on the LIBOR Screen Rate (or if the LIBOR Screen Rate is not available for such one month Interest Period, the Interpolated Rate) at approximately 11:00 a.m. London time on such day.  Any change in the ABR due to a change in the Prime Rate, the NYFRB Rate or the Adjusted LIBOR Rate shall be effective from and including the effective date of such change in the Prime Rate, the NYFRB Rate or the Adjusted LIBOR Rate, respectively.  If the ABR is being used as an alternate rate of interest pursuant to Section 4.09 of the Liquidity Agreement, then the ABR shall be the greater of clauses (a) and (b) above and shall be determined without reference to clause (c) above.  For the avoidance of doubt, if the ABR as determined pursuant to the foregoing would be less than 1.00%, such rate shall be deemed to be 1.00%.
“ABR Liquidity Loan” means a Liquidity Loan bearing interest based on ABR in accordance with the Liquidity Agreement.
“ACH” has the meaning assigned to such term in Section 34 of the Depositary Agreement.
“Act” has the meaning assigned to such term in Section 11.20 of the Liquidity Agreement.
“Additional Responsibilities” shall have the meaning assigned to such term in Section 35 of the Depositary Agreement.
“Adjusted Capitalization” means the sum of the Guarantor’s Consolidated Net Worth and the Guarantor’s consolidated Adjusted Net Debt.
“Adjusted EBITDA” shall mean the sum of the Guarantor’s and its consolidated Subsidiaries’ earnings (or losses) for any period, after all expenses and other proper charges, but before payment or provision for any income taxes or interest expense for such period and before depreciation, amortization and any other non-cash charges to earnings for such period determined in accordance with GAAP.
“Adjusted Invested Amount” shall mean, with respect to any Outstanding Series, the definition assigned to such term in the related Supplement.
US_ACTIVE-157325436.3

"Adjusted LIBOR Rate" shall mean, with respect to any Borrowing of LIBOR Liquidity Loans for any Interest Period, an interest rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to (a) the LIBOR Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate.
“Adjusted Net Debt” shall mean, with respect to any Person on any date of determination, (a) the aggregate principal amount of Indebtedness of such Person on such date (including, without limitation, letter of credit obligations of such Person) minus (b) the sum of all cash, time deposits, marketable securities and Liquid Inventory of such Person on such date.
“Adjustment Amount” shall have the meaning assigned in subsection 2.05(a) of the Sale Agreement.
“Adjustment Payments” shall mean payments of Transfer Deposit Amounts.
“Administrative Agent” shall mean JPMorgan Chase in its capacity as the Administrative Agent under the Liquidity Agreement, together with any successors and permitted assigns.
“Affected Person” means a Liquidity Bank that is removed by BAFC as described in subsection 4.05(d) of the Liquidity Agreement.
“Affiliate” shall mean, with respect to any specified Person, any other Person which, directly or indirectly, is in control of, is controlled by, or is under common control with, such specified Person.  For purposes of this definition “control” of a Person means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities or otherwise, and the terms “controlling” and “controlled” have meanings correlative to the foregoing.
“Aggregate Adjusted Invested Amount” shall mean, with respect to any date of determination, the sum of the Adjusted Invested Amounts with respect to all Outstanding Series on such date of determination.
“Aggregate Allocated Loan Amount” shall mean, with respect to any date of determination, the sum of the Allocated Loan Amounts with respect to all Outstanding Series on such date of determination.
“Aggregate Available Liquidity Commitment” means, as of any day, the lesser of (i) the Series 2000-1 Allocated Loan Amount and (ii) the Aggregate Liquidity Commitment.
 “Aggregate Invested Amount” shall mean, at any date of determination, the sum of the Invested Amounts with respect to all Outstanding Series on such date of determination.
									
		Annex - 2
	

“Aggregate Liquidity Commitment” shall mean the aggregate of the Liquidity Commitments under the Liquidity Agreement.
“Aggregate Loan Amount” shall mean, with respect to any date of determination, the aggregate Principal Amount and accrued interest (or discount) of all Eligible Loans in the Trust at the end of the Business Day immediately preceding such date.
“Aggregate Target Loan Amount” shall mean, with respect to any date of determination, the sum of the Target Loan Amounts with respect to all Outstanding Series on such date of determination.
“Allocable Charged-Off Amount” shall have, with respect to any Series, the meaning assigned in subsection 3.01(e) of the Pooling Agreement and in any Supplement for such Series.
“Allocable Recoveries Amount” shall have, with respect to any Series, the meaning assigned in subsection 3.01(e) of the Pooling Agreement and in any Supplement for such Series.
“Allocated Loan Amount” shall have, with respect to any Outstanding Series, the meaning assigned in the related Supplement for such Outstanding Series.
“Amendment Effective Date” shall mean December 14, 2018.
“Amortization Period” shall have, with respect to any Outstanding Series, the meaning assigned to such term in the related Supplement.
“Anti-Corruption Laws” shall mean all laws, rules and regulations of any jurisdiction applicable to the Guarantor or any of its Subsidiaries from time to time concerning or relating to bribery or corruption.
“Applicable L/C Percentage” shall mean the percentage set forth below based on the higher of the Applicable S&P Rating and the Applicable Moody’s Rating:
									
	Rating
BBB+/Baa1 or higher
BBB/Baa2
BBB-/Baa3 or lower
		Percentage
10.0%
12.5%
15.0%

									
		Annex - 3
	

“Applicable Insolvency Laws” shall mean with respect to any Person, any applicable bankruptcy, insolvency or other similar United States or foreign law now or hereafter in effect.
“Applicable Moody’s Rating” shall mean the senior long-term unsecured debt rating that Moody’s provides of (i) the Guarantor or (ii) if Moody’s does not provide such a rating of the Guarantor, then the Trust or (iii) if Moody’s does not provide such a rating of the Guarantor or the Trust, then BLFC.
“Applicable S&P Rating” shall mean the senior long-term unsecured debt rating that S&P provides of (i) the Guarantor or (ii) if S&P does not provide such a rating of the Guarantor, then the Trust or (iii) if S&P does not provide such a rating of the Guarantor or the Trust, then BLFC.
“Applicants” shall have the meaning assigned in Section 5.07 of the Pooling Agreement.
“Approved Currency” shall mean Dollars, Euro, Sterling and Yen.
“Approved Fund” shall mean any Person (other than a natural person) that is engaged in making, purchasing, holding or investing in bank loans and similar extensions of credit in the ordinary course of its business and that is administered or managed by (i) a Liquidity Bank, (ii) an Affiliate of a Liquidity Bank or (iii) an entity or an Affiliate of an entity that administers or manages a Liquidity Bank.
“Approving Person” has the meaning assigned to such term in Section 2 of the Depositary Agreement.
“Assessment Rate” shall mean, for any date, the annual rate (rounded upwards, if necessary, to the next 1/100 of 1%) most recently estimated by the Administrative Agent as the then current net annual assessment rate that will be employed in determining amounts payable by the Administrative Agent to the Federal Deposit Insurance Corporation (or any successor) for insurance by such corporation (or such successor) of time deposits made in U.S. Dollars at the Administrative Agent’s domestic offices.
“Assigned Collateral” shall have the meaning assigned to such term in subsection 3.1(a) of the Security Agreement.
“Authenticating Representatives” has the meaning assigned to such term in Section 2 of the Depositary Agreement.
“Authorization Letter” has the meaning assigned to such term in Section 2 of the Depositary Agreement.
									
		Annex - 4
	

“Authorized Newspaper” shall mean the Wall Street Journal.  If such newspaper shall cease to be published, the Servicer, the Company (or the Servicer on behalf of the Company) or the Trustee shall substitute for it another newspaper in the United States customarily published at least once a day for at least five (5) days in each calendar week, of general circulation.
“Authorized Officer” means any Person who is an officer of BAFC authorized to act, and to give and receive instructions and notices, on behalf of BAFC with respect to all matters in connection with the Transaction Documents as certified by BAFC.
“Authorized Signatories” has the meaning assigned to such term in Section 2 of the Depositary Agreement.
“BAFC” means Bunge Asset Funding Corp., a Delaware corporation, and its successors and permitted assigns.
“Bail-In Action” shall mean the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution.

“Bail-In Legislation” shall mean with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule.

“Bankruptcy Code” shall mean the United States Federal Bankruptcy Code, 11 U.S.C. §§ 101-1330, as amended.
“Basel III” shall mean (a) the agreements on capital requirements, a leverage ratio and liquidity standards contained in “Basel III:  A global regulatory framework for more resilient banks and banking systems”, “Basel III:  International framework for liquidity risk measurement, standards and monitoring” and “Guidance for national authorities operating the countercyclical capital buffer” published by the Basel Committee on Banking Supervision in December 2010; (b) the rules for global systemically important banks contained in “Global systemically important banks: assessment methodology and the additional loss absorbency requirements-rules text” published by the Basil Committee on Banking Supervision in November 2011, as amended, supplemented or restated; and (c) any further guidance or standards published by the Basel Committee on Banking Supervision relating to “Basel III”.
“Beneficial Ownership Certification” shall mean a certification regarding beneficial ownership or control as required by the Beneficial Ownership Regulation.
“Beneficial Ownership Regulation” shall mean 31 C.F.R. § 1010.230.
									
		Annex - 5
	

“Benefit Plan” shall mean any of (a) an “employee benefit plan” (as defined in Section 3(3) of ERISA) that is subject to Title I of ERISA, (b) a “plan” as defined in Section 4975 of the Code to which Section 4975 of the Code applies, and (c) any Person whose assets "include (for purposes of the Plan Asset Regulations or otherwise for purposes of Title I of ERISA or Section 4975 of the Code) the assets of any such “employee benefit plan” or “plan”.
“BFE” shall mean Bunge Finance Europe B.V., a company organized under the laws of the Netherlands, and its successors and permitted assigns.
“BFE Account” shall mean any account established by or for BFE, other than the Series 2003-1 Collection Subaccount (or any sub-subaccount thereof), for the purpose of depositing funds borrowed by BFE, any amounts paid pursuant to the Series 2003-1 VFC Certificate and all amounts received with respect to Hedge Agreements.
“BL” shall mean Bunge Limited, a company organized under the laws of Bermuda, and its successors and permitted assigns.
“BLFC” shall mean Bunge Limited Finance Corp., a Delaware corporation, and its successors and permitted assigns.
“BLFC Account” shall mean any account establish by or for BLFC, other than the Series 2002-1 Collection Subaccount (or any sub-subaccount thereof), for the purpose of depositing funds borrowed by BLFC, any amounts paid pursuant to the Series 2002-1 VFC Certificate and all amounts received with respect to Hedge Agreements.
“Board of Directors” means, with respect to any Person, the board of directors of such Person or any duly authorized committee thereof.
“BOA System” shall mean the Depositary’s “Bank of America, N.A. Money Market Issuance” service, as described in Exhibit D to the Depositary Agreement.
“BONY” shall mean The Bank of New York Mellon, a New York bank, and its successors and assigns.
“Book-Entry CP Note” shall mean Commercial Paper, the ownership and transfer of which may be made through book entries by DTC as described in the Depositary Agreement.  The aggregate of all Book-Entry CP Notes shall be evidenced by the Master Note.
“Book-Entry Certificates” shall mean Certificates evidencing a beneficial interest in the Investor Certificates, ownership and transfers of which shall be made through book entries by a Clearing Agency as described in Section 5.11 of the Pooling Agreement; provided, however, that after the occurrence of a condition whereupon book-entry registration and transfer are no longer permitted and Definitive Certificates are issued to the Certificate Book-Entry Holders, such Investor Certificates shall no longer be “Book-Entry Certificates”.
									
		Annex - 6
	

“Borrowing” means the incurrence of a Liquidity Loan on a given date from the Liquidity Banks pursuant to Section 3.01 of the Liquidity Agreement.
“Bunge Finance” shall mean Bunge Finance Limited, a company organized under the laws of Bermuda, and its successors and permitted assigns.
“Bunge Finance North America” shall mean Bunge Finance North America, Inc., a Delaware corporation, and its successors and permitted assigns.
“Business Day” shall mean any day other than (i) a Saturday or a Sunday or (ii) another day on which commercial banking institutions or trust companies in the State of New York or in the city where the Corporate Trust Office is located, are authorized or obligated by law, executive order or governmental decree to be closed; provided that, when used in connection with the calculation of Certificate Rates which are determined by reference to the LIBOR Rate, “Business Day” shall mean any Business Day banks are open for dealings in dollar deposits in the London interbank market.
“Business Day Received” shall mean, except as otherwise set forth in the applicable Supplement, (i) with respect to funds deposited in the Collection Account (a) if funds are deposited in the Collection Account by 12:00 (Noon), New York City time, such day of deposit and (b) if funds are deposited in the Collection Account after 12:00 (Noon), New York City time, the Business Day immediately following such day of deposit and (ii) with respect to funds deposited in any Lock-Box Account, such day of deposit.
“Capital Stock” means, with respect to any Person, any and all shares, interests, rights to purchase, warrants, options (whether or not currently exercisable), participations or other equivalents of or interests in (however designated) the equity (which includes, but is not limited to, common stock or shares, preferred stock or shares and partnership and joint venture interests) of such Person (excluding any debt securities convertible into, or exchangeable for, such equity).
“Cash Collateral Account” shall have the meaning assigned to such term in subsection 5.1(a) of the Security Agreement.
“Certificate” shall mean any certificate issued pursuant to a Supplement.
“Certificate Book-Entry Holder” shall mean, with respect to a BookEntry Certificate, the Person who is listed on the books of the Clearing Agency, or on the books of a Person maintaining an account with such Clearing Agency, as the beneficial owner of such BookEntry Certificate (directly or as an indirect participant, in accordance with the rules of such Clearing Agency).
									
		Annex - 7
	

“Certificate Rate” shall mean with respect to any Series and Class of Investor Certificates, the percentage interest rate (or formula on the basis of which such interest rate shall be determined) stated in the applicable Supplement.
“Certificate Register” shall mean the register maintained pursuant to subsection 5.03(a) of the Pooling Agreement providing for the registration of the Investor Certificates and transfers and exchanges thereof.
“Change in Law” has the meaning assigned to such term in Section 4.05(a) of the Liquidity Agreement. 
“Change of Control” means the occurrence of any of the following:
(1)    the Guarantor becomes aware (by way of a report or any other filing pursuant to Section 13(d) of the Exchange Act, proxy, vote, written notice or otherwise) of the acquisition by any Person or group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act, or any successor provision), including any group acting for the purpose of acquiring, holding or disposing of securities (within the meaning of Rule 13d-5(b)(1) under the Exchange Act), in a single transaction or in a related series of transactions, by way of merger, consolidation or other business combination, of 50% or more of the total voting power of the Voting Stock of the Guarantor then outstanding; 
(2)    the sale, lease or transfer, in one or a series of related transactions, of all or substantially all of the assets of the Guarantor and its Subsidiaries, taken as a whole, to any Person that is not a Subsidiary of the Guarantor; or
(3)    the first day on which a majority of the members of the Guarantor’s Board of Directors are not Continuing Directors.
“CHIPS” has the meaning assigned to such term in Section 34(a) of the Depositary Agreement.
“Citigroup” shall mean Citigroup Global Markets Inc., and its successors and assigns.
“Class” shall mean, with respect to any Series, any one of the classes of Investor Certificates of that Series as specified in the related Supplement.
“CleanUp Call Repurchase Price” shall have the meaning assigned in subsection 9.02(a) of the Pooling Agreement.
“Clearing Agency” shall mean each organization registered as a “clearing agency” pursuant to Section 17A of the Securities Exchange Act of 1934.
									
		Annex - 8
	

“Clearing Agency Participant” shall mean a broker, dealer, bank, other financial institution or other Person for whom from time to time a Clearing Agency effects book-entry transfers and pledges of securities deposited with such Clearing Agency.
“CoBank” shall mean CoBank, ACB, and it successors and assigns.
“Code” shall mean the United States Internal Revenue Code of 1986, as amended from time to time, and the rules and regulations promulgated thereunder from time to time.
“Collateral Accounts” shall have the meaning assigned to such term in subsection 3.1(a)(vi) of the Security Agreement.
“Collateral Agent” means The Bank of New York Mellon, in its capacity as Collateral Agent under the Security Agreement, together with any successors and assigns.
“Collateral Agent Expenses” means all Fees, Costs and Expenses of the Collateral Agent payable under the Security Agreement and, such fees as from time to time may be agreed to by BAFC, the Collateral Agent, the Administrative Agent and the Letter of Credit Agent.
“Collateral Agent Fee” shall have the meaning assigned to such term in Section 7.7 of the Security Agreement.
“Collection Account” shall have the meaning assigned in subsection 3.01(a) of the Pooling Agreement, and shall include, without limitation, all subaccounts thereof.
“Collections” shall mean all collections and all amounts received in respect of the Purchased Loans transferred to the Trust, including Recoveries, Adjustment Payments, indemnification payments made by the Servicer, a Seller or the Company, together with all collections received in respect of the Related Property in the form of cash, checks, wire transfers or any other form of cash payment, and all proceeds of Purchased Loans and collections thereof (including, without limitation, collections evidenced by an account, note, instrument, letter of credit, security, contract, security agreement, chattel paper, general intangible or other evidence of indebtedness or security, whatever is received upon the sale, exchange, collection or other disposition of, or any indemnity, warranty or guaranty payable in respect of, the foregoing and all “proceeds” of the Purchased Loans as defined in Section 9102(a)(64) of the UCC as in effect in the State of New York).
“Commercial Paper” means the commercial paper issued or to be issued by BAFC, in the form of Exhibit A to the Depositary Agreement.
“Commercial Paper Holder Obligations” means all indebtedness, obligations and liabilities, whether absolute, fixed or contingent, at any time owing by BAFC, to the holders of the outstanding Commercial Paper.
									
		Annex - 9
	

“Commercial Paper Account” shall mean the commercial paper account established pursuant to Section 3(a) of the Depositary Agreement.
“Commercial Paper Deficit” has the meaning ascribed to such term in subsection 3.01(a) of the Liquidity Agreement.
“Commercial Paper Holders” shall mean the holders of the Commercial Paper of the Issuer to be offered in the commercial paper markets.
“Commercial Paper Program Documents” shall mean, collectively, the Commercial Paper, the Liquidity Agreement, the Letter of Credit Reimbursement Agreement, the Security Agreement, the Depositary Agreement, the Placement Agency Agreement, and each other agreement or instrument issued or entered into in connection with any of the foregoing documents.
“Commitment Fee” shall have the meaning assigned in subsection 4.01(a) of the Liquidity Agreement.
“Company” shall mean Bunge Funding, Inc., a Delaware corporation, and its successors and permitted assigns.
“Company Collection Subaccount” shall have the meaning assigned in subsection 3.01(a) of the Pooling Agreement.
“Company Exchange” shall have the meaning assigned in subsection 5.10(a) of the Pooling Agreement
“Company Obligations” shall mean all obligations owed by the Company for commissions, fees, expenses, indemnifications, principal (including but not limited to the Aggregate Invested Amount) or interest (including the interest and other claims accruing on or after the occurrence of an Insolvency Event, relating to the Company, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding), and all other obligations and liabilities of every nature of the Company, from time to time owed to the Trustee, the Letter of Credit Agent, the Letter of Credit Banks, the Administrative Agent, the Liquidity Banks and the Investor Certificateholders, whether direct or indirect, absolute or contingent, due or to become due, or now existing or thereafter incurred, whether on account of commissions, principal, accrued and unpaid interest, incurred fees, indemnities, out-of-pocket costs or expenses (including, without limitation, all reasonable fees and disbursements of counsel) or otherwise which arise under any Transaction Document.
“Company Subordinated Obligations” shall mean any Company Obligation or other liability designated as such in any Pooling and Servicing Agreement, each of which payment obligations and other liabilities shall (i) be subordinated and subject to the prior payment in full of all Company Unsubordinated Obligations then due, (ii) be made solely from 
									
		Annex - 10
	

funds available to the Company that are not required to be applied to Company Unsubordinated Obligations then due and (iii) not constitute a general recourse claim against the Company, but only a claim against the Company to the extent of funds available to the Company after satisfying all Company Unsubordinated Obligations then due.
“Company Unsubordinated Obligations” shall mean all Company Obligations and other liabilities of the Company under any Pooling and Servicing Agreement that are not designated as Company Subordinated Obligations.
“Connection Income Taxes” shall mean Other Connection Taxes that are imposed on or measured by net income (however denominated) or that are franchise Taxes or branch profits Taxes.
“Consenting Liquidity Bank” shall have the meaning assigned to such term in Section 4.03(b)(iv) of the Liquidity Agreement.
“Consolidated Net Worth” shall mean, the Net Worth of the Guarantor and its consolidated Subsidiaries determined on a consolidated basis in accordance with GAAP, plus minority interests in Subsidiaries.
“Continuing Directors” means, as of any date of determination, any member of the Board of Directors of the Guarantor who (1) was a member of such Board of Directors on the Amendment Effective Date; or (2) was nominated for election, appointed or elected to such Board of Directors with the approval of a majority of the Continuing Directors who were members of such Board of Directors at the time of such nomination or election (either by a specific vote or by approval of the Guarantor’s proxy statement in which such member was named as a nominee for election as a director).
“Contract Rate Fees” means the Collateral Agent Expenses, fees payable to the Administrative Agent and the Liquidity Banks under the Liquidity Agreement, and to the Letter of Credit Agent and the Letter of Credit Banks under the Letter of Credit Reimbursement Agreement and the Letter of Credit Fee Letter, including, without limitation, the Letter of Credit Facility Fee; provided however that, Contract Rate Fees shall not include reimbursement for outofpocket expenses except with respect to the Collateral Agent Expenses.
“Contractual Obligation” shall mean, as to any Person, any provision of any security issued by such Person or of any agreement, instrument or other undertaking to which such Person is a party or by which it or any of its property is bound.
“Corporate Trust Office” shall mean the principal office of the Trustee at which at any particular time its corporate trust business shall be administered, which as of the Amendment Effective Date is: The Bank of New York Mellon, 240 Greenwich Street, Floor 7W, New York, NY  10286, attention: Global Structured Finance.
									
		Annex - 11
	

“CP Note” means a BookEntry CP Note.
“Credit Enhancer” shall mean, with respect to any Series, that Person, if any, designated as such in the applicable Supplement.
“Credits Outstanding” shall mean, with respect to any date of determination, the result of (i) the Face Amount of Commercial Paper outstanding on such date plus (ii) the aggregate principal amount of and accrued interest on Liquidity Loans outstanding on such date minus (iii) amounts on deposit in the Commercial Paper Account, the Special Payment Account, any Collateral Account or the Series 2000-1 Collection Subaccount that are unconditionally available to repay the Face Amount of Commercial Paper and principal and interest on Liquidity Loans (or with respect to the Series 2000-1 Collection Subaccount, unconditionally available to repay principal and interest on the Series 2000-1 VFC Certificate which amounts are in turn unconditionally available to make such payments on the Commercial Paper and Liquidity Loans) in accordance with the terms of the Transaction Documents (provided, that any amounts on deposit in such accounts that represent amounts drawn on the Letter of Credit shall not reduce Credits Outstanding).
“Daily Report” shall mean a report prepared by the Servicer on each Business Day required pursuant to Section 4.01 of the Servicing Agreement, in substantially the form of Exhibit B attached to each Supplement.
“Declining Liquidity Bank” shall have the meaning assigned to such term in Section 4.03(b)(iv) of the Liquidity Agreement.
“Default” means a condition or event which but for the passage of time or the giving of notice or both would constitute an Event of Default; provided, however, that when such condition or event allows a period of time for an action or event to occur, any such condition or event shall not constitute a Default until passage of such period of time unless it is not reasonable to believe that such action or event will take place.
“Defaulted Loan” shall mean any Purchased Loan with respect to which the related Obligor or the Guarantor has failed to make any payment due and owing (whether by acceleration or otherwise) under the applicable Loan Note for a period of eight (8) days or more.
“Defaulting Liquidity Bank” shall mean any Liquidity Bank that (a) has failed to fund any portion of its Liquidity Loans required to be funded by it under the Liquidity Agreement within three (3) Business Days of the date required to be funded by it thereunder, (b) has notified BAFC or the Administrative Agent in writing that it does not intend to comply with any of its funding obligations under the Liquidity Agreement or has made a public statement to the effect that it does not intend to comply with its funding obligations under the Liquidity Agreement (unless such writing or public statement indicates that such position is based on such Liquidity Bank’s good faith determination that a condition precedent to funding a Liquidity Loan 
									
		Annex - 12
	

under the Liquidity Agreement cannot be satisfied), (c) has otherwise failed to pay over to the Administrative Agent any other amount required to be paid by it hereunder within three (3) Business Days of the date when due, unless the subject of a good faith dispute, or (d) has become the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee or custodian appointed for it, or has indicated its consent to, approval of or acquiescence in any such proceeding or appointment or has become the subject of a Bail-In Action; provided, that a Liquidity Bank shall not become a "Defaulting Liquidity Bank" solely as a result of the acquisition or maintenance of an ownership interest in such Liquidity Bank or Person controlling such Liquidity Bank or the exercise of control over a Liquidity Bank or Person controlling such Liquidity Bank by a Governmental Authority or instrumentality thereof.
“Definitive Certificates” shall have the meaning assigned in Section 5.11 of the Pooling Agreement.
“Delinquent Loan” shall mean any Purchased Loan (i) with respect to which the related Obligor or the Guarantor has failed to make any payment due and owing (whether by acceleration or otherwise) under the applicable Loan Note for a period of at least one (1) day but not greater than seven (7) days or (ii) as to which an Insolvency Event has occurred with respect to the related Obligor.
“Depositary” means Bank of America, N.A., in its capacity as Depositary under the Depositary Agreement, together with any successors and assigns.
“Depositary Accounts” mean, collectively the Commercial Paper Account and the Special Payment Account.
“Depositary Agreement” shall mean that certain Sixth Amended and Restated Issuing, Paying and Depositary Agreement, dated as of November 17, 2014, entered into between the Depositary and BAFC, as amended, supplemented or otherwise modified from time to time in accordance with the Transaction Documents.
“Depositary Authorization Letter” means that certain Depositary Authorization Letter, from time to time executed by the Depositary and delivered to BAFC pursuant to Section 2 of the Depositary Agreement.
“Depositary Fee” has the meaning assigned to such term in Section 26 of the Depositary Agreement.
“Depositary Termination Date” has the meaning assigned to such term in Section 17(b) of the Depositary Agreement.
“Depository” shall mean, with respect to any Series, the Clearing Agency designated as the “Depository” in the related Supplement. 
									
		Annex - 13
	

“Depository Agreement” shall mean, with respect to any Series an agreement among the Company, the Trustee and a Clearing Agency, in a form reasonably satisfactory to the Trustee and the Company.
“Depository Participant” shall mean a broker, dealer, bank, other financial institution or other Person for whom from time to time the Depository effects book-entry transfers and pledges of securities deposited with the Depository.
“Designated Persons” has the meaning assigned to such term in Section 2 of the Depositary Agreement.
“Designated Obligors” shall mean BL and the Subsidiaries of the Guarantor set forth on Schedule I hereto (and their successors) and any other Subsidiaries of the Guarantor designated by the Guarantor from time to time that satisfy the conditions set forth in the definition of “Eligible Obligor” and are acceptable to the Administrative Agent.  Notwithstanding the immediately preceding sentence, with the prior written consent of the Majority Liquidity Banks and of Investor Certificateholders evidencing more than 50% of the Invested Amount of any Series (which consent in each case shall not be unreasonably withheld), the Guarantor may from time to time identify BL and certain Subsidiaries that shall not be classified as Designated Obligors.
“Distribution Date” shall mean, except as otherwise set forth in the applicable Supplement, the 15th day of the month, or if such 15th day is not a Business Day, the next succeeding Business Day.
“Documentation Agent” shall mean, collectively, BNP Paribas and The Bank of Tokyo Mitsubishi UFJ, Ltd. in their capacities as the Documentation Agents under the Liquidity Agreement, together with any successors and permitted assigns.
“Dollar Equivalent” means on any date of determination, with respect to any amount denominated in a currency other than Dollars, the equivalent in Dollars of such amount, determined by the Administrative Agent using the Rate of Exchange with respect to such currency.
“Dollars”, “U.S. Dollars” and “$” shall mean dollars in lawful currency of the United States of America.
“DTC” means The Depository Trust Company, a limited purpose trust company organized under and pursuant to the banking laws of the State of New York, and a “clearing agency” registered pursuant to Section 17(a) of the Securities and Exchange Act of 1934, as amended, and the regulations of the Securities and Exchange Commission thereunder, whose principal office is located at 55 Water Street, New York, New York 10041, until a successor Person shall have become the clearing agency and thereafter “DTC” shall mean such successor Person.
									
		Annex - 14
	

“Early Amortization Event” shall have, with respect to any Series, the meaning assigned in Section 7.01 of the Pooling Agreement (without taking into account any Supplements) and in any Supplement for such Series.
“Early Amortization Period” shall have, with respect to any Series, the definition assigned to such term in Section 7.01 of the Pooling Agreement (without taking into account any Supplements) and in any Supplement for such Series.
“Early Termination” shall have the meaning assigned in Article VII of the Sale Agreement.
“ECI Holder” shall mean any holder of an Exchangeable Company Interest, but only to the extent of such Exchangeable Company Interest.
“EDGAR” shall mean the Electronic Data-Gathering, Analysis and Retrieval system, which performs automated collection, validation, indexing and forwarding of submissions by Persons who are required by law to file forms with the U.S. Securities and Exchange Commission.
“EEA Financial Institution” shall mean (a) any institution established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent.
“EEA Member Country” shall mean any of the member states of the European Union, Iceland, Liechtenstein and Norway.
“EEA Resolution Authority” shall mean any public administrative authority or any person entrusted with public administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution.
“Effective Date” shall mean August 25, 2000.
“Eligible Institution” shall mean a depositary institution or trust company (which may include the Trustee and its Affiliates) organized under the laws of the United States of America or any one of the States thereof or the District of Columbia; provided, however, that at all times (i) such depositary institution or trust company is a member of the Federal Deposit Insurance Corporation, (ii) the unsecured and uncollateralized debt obligations of such depositary institution or trust company are rated in one of the two highest longterm or shortterm rating categories by each Rating Agency and (iii) such depositary institution or trust company has a combined capital and surplus of at least $100,000,000.
									
		Annex - 15
	

“Eligible Investments” shall mean any bookentry securities, negotiable instruments or securities represented by instruments in bearer or registered form which evidence:
(a)    direct obligations of, or obligations fully guaranteed as to timely payment by, the United States of America or any OECD Country;
(b)    Federal funds, demand deposits, time deposits or certificates of deposit of any depositary institution or trust company incorporated under the laws of the United States of America, any state thereof (or any domestic branch of a foreign bank) or any OECD Country and subject to supervision and examination by federal, state or foreign banking or depositary institution authorities; provided, however, that at the time of the investment or contractual commitment to invest therein the commercial paper or other shortterm unsecured debt obligations (other than such obligations the rating of which is based on the credit of a Person other than such depository institution or trust company) thereof shall have a credit rating from each of the Rating Agencies rating such investment in the highest investment category granted thereby;
(c)    commercial paper rated, at the time of the investment or contractual commitment to invest therein, in the highest rating category by each Rating Agency rating such commercial paper;
(d)    investments in money market funds (including funds for which the Trustee or any of its Affiliates is investment manager or adviser) rated in the highest rating category by each Rating Agency rating such money market fund (provided that, if such Rating Agency is S&P, such rating shall be AAAm);
(e)    bankers acceptances issued by any depository institution or trust company referred to in clause (b) above;
(f)    repurchase obligations with respect to any security that is a direct obligation of, or fully guaranteed by, the United States of America, any OECD Country or any agency or instrumentality thereof the obligations of which are backed by the full faith and credit of the United States of America or such OECD Country, in either case entered into with a depository institution or trust company (acting as principal) described in clause (b) above; or
(g)    any other investment upon satisfaction of the Rating Agency Condition with respect thereto.
“Eligible Loan” shall mean, as of any date of determination, each Loan owing by an Eligible Obligor that as of such date satisfies the following eligibility criteria:
(a)    it is not a Defaulted Loan or a Delinquent Loan;
									
		Annex - 16
	

(b)    at such date of determination, the Sale Agreement has not been terminated as to the related Seller;
(c)    it does not contravene any applicable law, rule or regulation and the applicable Seller is not in violation of any law, rule or regulation in connection with it, in each case which in any way renders such Loan unenforceable or would otherwise impair in any material respect the collectability of such Loan;
(d)    it is an “eligible asset” as defined in Rule 3a-7 under the 1940 Act;
(e)    all required consents, approvals, authorizations or notifications necessary for the creation and enforceability of such Loan and the effective assignment and sale thereof by the applicable Seller to the Company and by the Company to the Trust shall have been obtained or made with respect to such Loan;
(f)    the applicable Seller is not in default in any material respect under the terms of the Loan Documents related to such Loan;
(g)    all right, title and interest in such Loan has been validly sold by the applicable Seller to the Company pursuant to the Sale Agreement;
(h)    (i) the Company or the Trust (with respect to Loans sold by the applicable Seller to the Company and thereafter by the Company to the Trust) will either have legal and beneficial ownership therein or a first priority perfected security interest therein free and clear of all Liens other than Permitted Liens and Trustee Liens and (ii) such Loan has been the subject of a valid transfer from the applicable Seller to the Company (with respect to transfers under the Sale Agreement) or from the Company to the Trust (with respect to transfers under the Pooling Agreement) or, alternatively, pursuant to the Pooling Agreement, the subject of the grant of a first priority perfected security interest therein to the Trust free and clear of all Liens other than such Permitted Liens and Trustee Liens;
(i)    the Loan Documents related to such Loans expressly prohibit any offset, counterclaim or defense with respect to such Loan and it is not subject to any dispute in whole or in part;
(j)    it is at all times the legal, valid and binding obligation of the Obligor thereon, enforceable against such Obligor in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors rights generally and by general equitable principles (whether enforcement is sought by proceedings in equity or law);
									
		Annex - 17
	

(k)    as of the date of purchase of such Loan, neither the applicable Seller nor the Company has (i) taken any action in contravention of the terms of any Transaction Document that would impair the rights of the Trustee or the Investor Certificateholders therein or (ii) failed to take any action required to be taken by the terms of any Transaction Document that was necessary to avoid impairing the rights therein of the Trustee or Investor Certificateholders with respect to such Loans;
(l)    as of the date of purchase of such Loan, each of the representations and warranties made in the Sale Agreement by the applicable Seller with respect to such Loan is true and correct in all material respects;
(m)    at the time such Loan was sold by the applicable Seller to the Company under the Sale Agreement, no Insolvency Event had occurred with respect to such Seller;
(n)    it is not subject to or is payable net of any withholding taxes of any applicable jurisdiction or political subdivision and is assignable free and clear of any sales or other tax, impost or levy;
(o)    either (i) the Loan Documents related to such Loan do not expressly prohibit, or require consent to be obtained from the related Obligor in connection with, a sale, transfer, assignment or conveyance of such Loan, or (ii) if such consent is required the related Obligor has consented in writing in accordance with the terms of the Loan Documents and applicable laws; 
(p)    it is denominated and payable only in an Approved Currency; 
(q)    the obligations of the related Obligor under such Loan are senior to or pari passu with all other unsecured, unsubordinated Indebtedness of such Obligor;
(r)    the Loan Note related to such Loan constitutes an “instrument” (as defined in the UCC of the State of New York); and
(s)    it is payable upon demand of the applicable Seller or its assignees and does not have a maturity in excess of twenty (20) years.
“Eligible Obligor” shall mean, as of any date of determination, each Obligor in respect of a Loan that satisfies the following eligibility criteria:
(a)    it is a Designated Obligor; 
(b)    it is not the subject of any voluntary or involuntary bankruptcy proceeding; and
									
		Annex - 18
	

(c)    it has not (i) failed to pay any amounts due and owing under any of its other Indebtedness or (ii) failed to observe or perform any covenant or agreement contained in any document related to any of its other Indebtedness to the extent such default caused or permitted an acceleration of such Indebtedness in an amount in excess of $5,000,000 in the aggregate.
“Eligible Successor Servicer” shall mean a Person which, at the time of its appointment as Servicer (i) is legally qualified and has the corporate power and authority to service the Purchased Loans transferred to the Trust, (ii) has demonstrated the ability to service a portfolio of similar Loans in accordance with high standards of skill and care in the sole determination of the Servicer and (iii) has a combined capital and surplus of at least $100,000,000; provided that no such Person shall be an Eligible Successor Servicer if it is a direct competitor of the Guarantor or its Subsidiaries.
“Enhancement” shall mean, with respect to any Series (i) the funds on deposit in or credited to any bank account (or subaccount thereof) of the Trust, (ii) any surety arrangement, any letter of credit, guaranteed rate agreement, maturity guaranty facility, tax protection agreement, interest rate swap, currency swap or other contract, agreement or arrangement, in each case for the benefit of any Investor Certificateholders of such Series, as designated in the applicable Supplement and (iii) the subordination of one Class of Investor Certificates in a Series to another Class in such Series or the subordination of any Interest to the Investor Certificates of such Series.
“Environmental Claims” shall mean any and all administrative, regulatory or judicial actions, suits, demands, demand letters, claims, liens, notices of non-compliance or violation, investigations or proceedings relating in any way to any Environmental Law or any permit issued under any such law (hereinafter “Claims”), including, without limitation, (a) any and all Claims by governmental or regulatory authorities for enforcement, cleanup, removal, response, remedial or other actions or damages pursuant to any applicable Environmental Law and (b) any and all Claims by any third party seeking damages, contribution, indemnification, cost recovery, compensation or injunctive relief resulting or arising from alleged or actual injury or threat of injury to the environment by reason of a violation of or liability arising under any Environmental Law.
“Environmental Laws” shall mean any and all Federal, state, local or foreign laws, rules, orders, regulations, statutes, ordinances, codes, decrees, requirements of any Governmental Authority or other Requirements of Law (including common law) regulating, relating to or imposing liability or standards of conduct concerning protection of human health or the environment, as now or may at any time hereafter be in effect.
“ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended.
									
		Annex - 19
	

“ERISA Affiliate” shall mean with respect to any Person, any trade or business (whether or not incorporated) that is a member of a group of which such Person is a member and which is treated as a single employer under Section 414 of the Code.
“ERISA Event” means (a) (i) the occurrence of a reportable event, within the meaning of Section 4043 of ERISA, with respect to any Plan unless the 30-day notice requirement with respect to such event has been waived by the PBGC or (ii) the requirements of Section 4043(b) of ERISA apply with respect to a contributing sponsor, as defined in Section 4001(a)(13) of ERISA, of a Plan, and an event described in paragraph (9), (10), (11), (12) or (13) of Section 4043(c) of ERISA is reasonably expected to occur with respect to such Plan within the following 30 days; (b) any failure by any Plan to satisfy the minimum funding standards (within the meaning of Section 412 of the Code or Section 302 of ERISA) applicable to such Plan, whether or not waived, the filing of an application for a minimum funding waiver with respect to a Plan, or the failure to make by its due date a required installment under Section 430(j) of the Code with respect to any Plan or the failure by BAFC or any of its ERISA Affiliates to make any required contribution to a Multiemployer Plan; (c) the provision by the administrator of any Plan of a notice of intent to terminate such Plan, pursuant to Section 4041(a)(2) of ERISA (including any such notice with respect to a plan amendment referred to in Section 4041(e) of ERISA) or the incurrence of any liability under Title IV of ERISA with respect to the termination of any Plan; (d) the cessation of operations at a facility of the Guarantor or any of its ERISA Affiliates in the circumstances described in Section 4062(e) of ERISA; (e) the withdrawal by the Guarantor or any of its ERISA Affiliates from a Multiple Employer Plan during a plan year for which it was a substantial employer, as defined in Section 4001(a)(2) of ERISA; (f) the conditions for imposition of a lien under Section 303 (k) of ERISA shall have been met with respect to any Plan; (g) the adoption of an amendment to a Plan which could result in the posting of a bond or other security; (h) the institution by the PBGC of proceedings to terminate a Plan pursuant to Section 4042 of ERISA, or the occurrence of any event or condition described in Section 4042 of ERISA that constitutes grounds for the termination of, or the appointment of a trustee to administer, such Plan; (i) a determination that any Plan is, or is expected to be, in "at risk" status, within the meaning of Section 430 of the Code; or (j) the receipt by the Guarantor or any of its ERISA Affiliates of a determination that a Multiemployer Plan is in endangered or critical status, within the meaning of Section 432 of the Code or Section 305 of ERISA.
“EU Bail-In Legislation Schedule” shall mean EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor Person), as in effect from time to time.

“Euro” shall mean the single lawful currency introduced at the start of the third stage of the European Economic and Monetary Union pursuant to a treaty establishing the European Union (as amended from time to time).
									
		Annex - 20
	

“Event of Default” means (a) with respect to the Letter of Credit Reimbursement Agreement, the “Events of Default” specified in Section 2.11 thereof and (b) with respect to the Liquidity Agreement, the “Mandatory Liquidation Events” specified in Article VIII thereof.
“Exchange Act” shall mean the U.S. Securities Exchange Act of 1934, as amended.
“Exchange Date” shall have the meaning, with respect to any Series issued pursuant to a Company Exchange, assigned in subsection 5.10(a) of the Pooling Agreement.
“Exchange Notice” shall have the meaning, with respect to any Series issued pursuant to a Company Exchange, assigned in subsection 5.10(a) of the Pooling Agreement.
“Exchange Register” shall have the meaning assigned in subsection 5.10(a) of the Pooling Agreement.
“Exchangeable Company Interest” shall have the meaning assigned in subsection 3.01(b) of the Pooling Agreement, may be represented by a Certificate and shall be exchangeable as provided in Section 5.10 of the Pooling Agreement.
“Excluded Taxes” shall mean any of the following Taxes imposed on, or required to be withheld or deducted from a payment to, the Administrative Agent, any Liquidity Bank, the Letter of Credit Agent, any Letter of Credit Bank, the Collateral Agent, the Trustee or any other recipient of payment to be made by or on account of any obligation of BAFC hereunder: (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (i) imposed as a result of the Administrative Agent, such Liquidity Bank, the Letter of Credit Agent, such Letter of Credit Bank, the Collateral Agent, the Trustee or other recipient being organized under the laws of, or having its principal office or, in the case of a Liquidity Bank or a Letter of Credit Bank, its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are Other Connection Taxes, (b) in the case of a Liquidity Bank or a Letter of Credit Bank, U.S. federal withholding Taxes imposed on amounts payable to or for the account of such Liquidity Bank or such Letter of Credit Bank with respect to an applicable interest in a Liquidity Loan or a Letter of Credit pursuant to a law in effect on the date on which (i) such Liquidity Bank or Letter of Credit Bank acquires such interest in the Liquidity Loan or Letter of Credit or (ii) such Liquidity Bank or Letter of Credit Bank changes its lending office or location, except in each case to the extent that, pursuant to Section 4.06 of the Liquidity Agreement or Section 2.10 of the Letter of Credit Reimbursement Agreement, amounts with respect to such Taxes were payable either to such Liquidity Bank's or Letter of Credit Bank’s assignor immediately before such Liquidity Bank or Letter of Credit Bank became a party to the Liquidity Agreement or the Letter of Credit Reimbursement Agreement or to such Liquidity Bank or Letter of Credit Bank immediately before it changed its lending office, (c) Taxes attributable to the failure by a Liquidity Bank or Letter of Credit Bank to comply with Sections 4.06(e), 4.06(f), 4.06(g), 4.06(h), 4.06(i) or 4.06(j) 
									
		Annex - 21
	

of the Liquidity Agreement or Section 2.10(e), 2.10(f) or 2.10(g), 2.10(h), 2.10(i) or 2.10(j) of the Letter of Credit Reimbursement Agreement, as applicable, and (d) any U.S. federal withholding Taxes imposed under FATCA.
“Executive Order” shall mean Executive Order No. 13224 of September 23, 2001 – Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten To Commit, or Support Terrorism.
“Exiting Bank” has the meaning assigned to such term in subsection 4.03(c)(ii) of the Liquidity Agreement.
“Exiting Letter of Credit Bank(s)” shall have the meaning assigned to such term in subsection 2.01(d) of the Letter of Credit Reimbursement Agreement.
“Exiting Letter of Credit Bank Draw” shall have the meaning assigned to such term in subsection 2.01(d) of the Letter of Credit Reimbursement Agreement.
“Exiting Loan” has the meaning assigned to such term in subsection 4.03(c)(ii) of the Liquidity Agreement.
“Face Amount” means, when used with respect to the Commercial Paper, the amount due at maturity of such Commercial Paper.
“FATCA” shall mean (a) Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is substantially comparable to and not materially more onerous to comply with), any current or future regulations or official interpretations thereof and any agreements entered into pursuant to Section 1471(b)(1) of the Code or (b) any treaty, law or regulation of any jurisdiction other than the United States adopted pursuant to an intergovernmental agreement between the United States and such other jurisdiction, which facilitates the implementation of any law or regulation referred to in paragraph (a) above.
“FCPA” has the meaning assigned to such term in subsection 9.13(a) of the Liquidity Agreement.
“Federal Funds Effective Rate” shall mean, for any day, the rate calculated by the NYFRB based on such day’s federal funds transactions by depositary institutions, as determined in such manner as the NYFRB shall set forth on its public website from time to time, and published on the next succeeding Business Day by the NYFRB as the effective federal funds rate; provided that if the Federal Funds Effective Rate as so determined would be less than zero, such rate shall be deemed to be zero.
“Federal Government Obligor” shall mean the United States Federal government or any subdivision thereof or any agency, department or instrumentality thereof.
									
		Annex - 22
	

“Federal Reserve Board” shall mean the Board of Governors of the Federal Reserve system of the United States of America.
“Fees, Costs and Expenses” means, with respect to the relevant Person, all amounts charged for services rendered and all amounts advanced or expended by such Person for the account of the Company or BAFC payable under any Transaction Document(s): including, without limitation, all outofpocket costs and expenses (excluding expenses solely attributable to administrative overhead) at any time and from time to time incurred by such Person in connection with the enforcement of or preservation of any right under such Transaction Document(s) (including, without limitation, the reasonable fees and outofpocket expenses of counsel employed by such Person in connection therewith); any other outofpocket costs and expenses payable by the Company and BAFC to such Person under or in connection with such Transaction Document(s); and all indemnities, increased costs, capital requirements and taxes at any time and from time to time owed to or payable by such Person under or in connection with such Transaction Document(s).
“First Extension Liquidity Commitment Expiration Date” shall mean the date falling twelve (12) Months after the Original Liquidity Commitment Expiration Date, or if such day is not a Business Day, the preceding Business Day.
“First Liquidity Commitment Extension Request” has the meaning assigned to such term in Section 4.03(b)(i) of the Liquidity Agreement.
“Force Majeure Delay” shall mean, with respect to the Servicer, any cause or event which is beyond the control and not due to the negligence of the Servicer which delays, prevents or prohibits the Servicer’s delivery of Daily Reports and/or Monthly Settlement Statements, including, without limitation, acts of God, or the elements and fire, but shall not include strikes; provided that no such cause or event shall be deemed to be a Force Majeure Delay unless the Servicer shall have given the Company, the Trustee, the Letter of Credit Agent (if applicable) and the Administrative Agent (if applicable) written notice thereof as soon as reasonably possible after the beginning of such delay.
“Fractional Undivided Interest” shall mean a fractional undivided interest, which, with respect to any Investor Certificate, can be expressed as a percentage of the interest in the Trust Assets represented by the Series or Class in which it was issued by taking the percentage equivalent of a fraction the numerator of which is the principal amount of such Investor Certificate and the denominator of which is the aggregate principal amount of all Investor Certificates of such Series or Class.
“GAAP” shall mean generally accepted accounting principles in the United States as in effect from time to time.
									
		Annex - 23
	

“General Opinion” shall mean, with respect to any action, an Opinion of Counsel to the effect that (i) such action has been duly authorized by all necessary corporate action on the part of the Servicer, the Company, a Seller or BAFC, as the case may be, (ii) any agreement executed in connection with such action constitutes a legal, valid and binding obligation of the Servicer, the Company, a Seller or BAFC, as the case may be, enforceable in accordance with the terms thereof, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws now or hereinafter in effect, affecting the enforcement of creditors’ rights and except as such enforceability may be limited by general principles of equity (whether considered in a proceeding at law or in equity), (iii) such action does not violate any Requirement of Law or require any consent or filing thereunder, (iv) such action does not result in a breach of, or default under any contractual obligation, or creation of any Lien, pursuant thereto and (v) any condition precedent to any such action specified in the applicable agreement, if any, has been complied with, which opinion in the case of clauses (iv) or (v) may, to the extent that such opinion concerns questions of fact, rely on a Responsible Officer’s certificate with respect to such questions of fact.
“Governmental Authority” shall mean any nation or government, any State or other political subdivision thereof and any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government.
“Guarantee Obligation” shall mean as to any Person (the "guaranteeing person"), any obligation of (a) the guaranteeing person or (b) another Person (including any bank under any letter of credit) with respect to which the guaranteeing person has issued a reimbursement, counterindemnity or similar obligation, in either case guaranteeing or in effect guaranteeing any Indebtedness, leases, dividends or other obligations (the "primary obligations") of any other third Person (the "primary obligor") in any manner, whether directly or indirectly, including any obligation of the guaranteeing person, whether or not contingent, (i) to purchase any such primary obligation or any property constituting direct or indirect security therefor, (ii) to advance or supply funds (1) for the purchase or payment of any such primary obligation or (2) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary obligor, (iii) to purchase property, securities or services primarily for the purpose of assuring the owner of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation or (iv) otherwise to assure or hold harmless the owner of any such primary obligation against loss in respect thereof; provided, however, that the term Guarantee Obligation shall not include endorsements of instruments for deposit or collection in the ordinary course of business.  The amount of any Guarantee Obligation of any guaranteeing person shall be deemed to be the lower of (a) an amount equal to the stated or determinable amount of the primary obligation in respect of which such Guarantee Obligation is made and (b) the maximum amount for which such guaranteeing person may be liable pursuant to the terms of the instrument embodying such Guarantee Obligation, unless such primary obligation and the maximum amount for which such guaranteeing person may be liable are not stated or determinable, in which case the amount of such Guarantee Obligation shall be such 
									
		Annex - 24
	

guaranteeing person's maximum reasonably anticipated liability in respect thereof as determined by the owner of the primary obligation in good faith.
“Guarantor” shall mean BL.
“Guaranty” shall mean the Ninth Amended and Restated Guaranty, dated as of December 14, 2018, by the Guarantor to the Letter of Credit Agent (for the benefit of the Letter of Credit Banks), the Administrative Agent (for the benefit of the Liquidity Banks), the Collateral Agent and the Trustee, as amended, supplemented or otherwise modified from time to time in accordance with the Transaction Documents.
“Guaranty Obligations” has the meaning ascribed to such term in Section 2 of the Guaranty.
“Hazardous Materials” shall mean (a) any petroleum or petroleum products, radioactive materials, asbestos in any form that is or could become friable, urea formaldehyde foam insulation, transformers or other equipment that contain dielectric fluid containing levels of polychlorinated biphenyls, and radon gas; (b) any chemicals, materials or substances defined as or included in the definition of “hazardous substances,” “hazardous waste,” “hazardous materials,” “extremely hazardous waste,” “restricted hazardous waste,” “toxic substances,” “toxic pollutants,” “contaminants,” or “pollutants,” or words of similar import, under any applicable Environmental Law; and (c) any other chemical, material or substance, exposure to which is prohibited, limited or regulated by any governmental authority having jurisdiction over the Guarantor or its Subsidiaries and the manufacturing, trading or extraction of which constitutes a material portion of the business of the Guarantor or any of its Subsidiaries.
“Hedge Agreements” shall mean all swaps, caps or collar agreements or similar arrangements dealing with interest rates or currency exchange rates or the exchange of nominal interest obligations either generally or under specific contingencies.
“Hedge Termination Amounts” shall mean, as the context requires, (i) with respect to Series 2002-1, all amounts (a) due and owing by BLFC or (b) received by BLFC, in each case in connection with the termination of a Hedge Agreement entered into by BLFC and (ii) with respect to Series 2003-1, all amounts (a) due and owing by BFE or (b) received by BFE, in each case in connection with the termination of a Hedge Agreement entered into by BFE.
“Holders” shall mean any or all of the Investor Certificateholders and the holders of the Exchangeable Company Interest.
“Impacted Interest Rate” shall have the meaning assigned in the definition of “LIBOR Rate”.
 “Indebtedness” shall mean as to any Person, without duplication, (a) all obligations of such Person for borrowed money, (b) all obligations of such Person evidenced by 
									
		Annex - 25
	

bonds, debentures, notes or other similar instruments, (c) all obligations of such Person to pay the deferred purchase price of property, except trade accounts payable arising in the ordinary course of business, (d) all obligations of such Person as lessee which are capitalized in accordance with GAAP, (e) all obligations of such Person created or arising under any conditional sales or other title retention agreement with respect to any property acquired by such Person (including without limitation, obligations under any such agreement which provides that the rights and remedies of the seller or lender thereunder in the event of default are limited to repossession or sale of such property), (f) all obligations of such Person with respect to letters of credit and similar instruments, including without limitation obligations under reimbursement agreements, (g) all Indebtedness of others secured by (or for which the holder of such Indebtedness has existing right, contingent or otherwise, to be secured by) a Lien on any asset of such Person, whether or not such Indebtedness is assumed by such Person, and (h) all guarantees by such Person of Indebtedness of others (other than guarantees of obligations of direct or indirect Subsidiaries of such Person).
 “Indemnified Person” shall have the meaning assigned in Section 10.18 of the Pooling Agreement.
“Indemnified Taxes” shall mean (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of any obligation of BAFC or the Guarantor under any Transaction Document and (b) to the extent not otherwise described in clause (a), Other Taxes.
“Independent Public Accountants” shall mean, with respect to any Person, any independent certified public accountants of nationally recognized standing, or any successor thereto, (who may also render other services to the Company, the Servicer or a Seller); provided that such firm is independent with respect to such Person within the meaning of Rule 201(b) of Regulation SX under the Securities Act.
“Ineligibility Determination Date” shall have the meaning assigned in subsection 2.05(a) of the Pooling Agreement.
“Ineligibility Event” shall have the meaning assigned in subsection 2.05(a) of the Sale Agreement.
“Ineligible Purchased Loan” shall (i) as used in the Sale Agreement, have the meaning specified in subsection 2.05(a) of the Sale Agreement, and (ii) as used in all other Transaction Documents, have the meaning specified in subsection 2.05(a) of the Pooling Agreement.
“Initial Invested Amount” shall have, with respect to any Series, the meaning specified in the related Supplement for such Series.
									
		Annex - 26
	

“Insolvency Event” shall mean, with respect to any Person, (i) a court having jurisdiction shall enter a decree or order for relief in respect of such Person in an involuntary case under Applicable Insolvency Laws, which decree or order is not stayed or any other similar relief shall be granted under any applicable federal, state or foreign law now or hereafter in effect and shall not be stayed; (ii)(A) an involuntary case is commenced against such Person under any Applicable Insolvency Law now or hereafter in effect, a decree or order of a court having jurisdiction for the appointment of a receiver, liquidator, sequestrator, trustee, custodian or other officer having similar powers over such Person, or over all or a substantial part of the property of such Person, shall have been entered, an interim receiver, trustee or other custodian of such Person for all or a substantial part of the property of such Person is involuntarily appointed, a warrant of attachment, execution or similar process is issued against any substantial part of the property of such Person, and (B) any event referred to in clause (ii)(A) above continues for 60 days unless dismissed, bonded or discharged; (iii) such Person shall at its request have a decree or an order for relief entered with respect to it or commence a voluntary case under any Applicable Insolvency Law now or hereafter in effect, or shall consent to the entry of a decree or an order for relief in an involuntary case, or to the conversion of an involuntary case to a voluntary case, under any such Applicable Insolvency Law, consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property; (iv) the making by such Person of any general assignment for the benefit of creditors; (v) the inability or failure of such Person generally to pay its debts as such debts become due; or (vi) the Board of Directors (or the equivalent thereof) of such Person authorizes action to approve any of the foregoing.
“Instructions” shall have the meaning assigned to such term in subsection 5(b) of the Depositary Agreement.
“Interest” shall mean any interest in the Trust Assets issued pursuant to the Pooling Agreement or any Supplement.
“Interest Period” has the meaning given such term in subsection 3.01(h) of the Liquidity Agreement.
“Internal Operating Procedures Memorandum” shall mean the internal operating procedures memorandum prepared by the Trustee as set forth in Exhibit A attached to the Pooling Agreement.
“Interpolated Rate” shall mean, with respect to any currency at any time, for any Interest Period, the rate per annum (rounded to the same number of decimal places as the LIBOR Screen Rate) determined by the Administrative Agent (which determination shall be conclusive and binding absent manifest error) to be equal to the rate that results from interpolating on a linear basis between: (a) the LIBOR Screen Rate for the longest period for which the LIBOR Screen Rate is available for the applicable currency that is shorter than the Impacted Interest Period; and (b) the LIBOR Screen Rate for the shortest period (for which that LIBOR Screen 
									
		Annex - 27
	

Rate is available for the applicable currency) that exceeds the Impacted Interest Period, in each case, at such time.
“Invested Amount” shall have, with respect to any Series, the meaning assigned in the related Supplement for such Series.
“Invested Percentage” shall have, with respect to any Series, the meaning assigned in the related Supplement for such Series.
“Investment” shall mean the making by the Company or a Seller of any advance, loan, extension of credit or capital contribution to, the purchase of any stock, bonds, notes, debentures or other securities of or any assets constituting a business unit of, or the making by the Company or a Seller of any other investment in, any Person.
“Investment Earnings” shall have the meaning assigned in subsection 3.01(c) of the Pooling Agreement.
“Investor Certificateholder” shall mean the holder of record of, or the bearer of, an Investor Certificate.
“Investor Certificateholders’ Interest” shall have the meaning assigned in subsection 3.01(b) of the Pooling Agreement.
“Investor Certificates” shall mean the Certificates executed by the Company, as agent of the Trustee, and authenticated by or on behalf of the Trustee, substantially in the form attached to the applicable Supplement, but shall not include the Exchangeable Company Interest or any other Interest held by the Company.
“Issuance Date” shall mean, with respect to any Series, the date of issuance of such Series, or the date of any increase to the Invested Amount of such Series, as specified in the related Supplement.
“Issuer” shall mean BAFC.
“JPMorgan Chase” shall mean JPMorgan Chase Bank, N.A., a national banking association, and its successors and assigns.
“JPMorgan Chase Roles” shall have the meaning assigned in Section 9.15 of the Series 2000-1 Supplement.
“JPMS” shall mean J.P. Morgan Securities LLC, and its successors and assigns.
“L/C Expiration Date” shall mean (a) with respect to the initial L/C Expiration Date, November 5, 2021, or if such day is not a Business Day, the preceding Business Day and 
									
		Annex - 28
	

(b) with respect to subsequent L/C Expiration Dates, the last day of any extension of such date pursuant to Section 2.01(c) of the Letter of Credit Reimbursement Agreement, or if such day is not a Business Day, the preceding Business Day.
“L/C Termination Date” shall mean the earlier of (a) the L/C Expiration Date and (b) the date of receipt by the Letter of Credit Agent of a notice from the Administrative Agent in the form of Annex 2 to the Letter of Credit.
“Legal Rate” means the maximum rate of interest permitted to be charged by applicable law.
“Letter of Credit” means that certain irrevocable letter of credit issued by the Letter of Credit Banks as revised or amended from time to time pursuant to the terms of the Letter of Credit Reimbursement Agreement, and all permitted substitutes and replacements thereof.
“Letter of Credit Agent” means the party or parties from time to time acting as “Letter of Credit Agent” under the Letter of Credit Reimbursement Agreement.
“Letter of Credit Amount” shall mean, as of any day, (a) the Letter of Credit Commitment less (b) any amount previously drawn under the Letter of Credit and not reimbursed to the Letter of Credit Banks.
“Letter of Credit Bank” means each financial institution in its capacity as a “Letter of Credit Bank” under the Letter of Credit Reimbursement Agreement, together with any successors and permitted assigns.
“Letter of Credit Bank Breach” means a failure or refusal of a Letter of Credit Bank to honor a proper drawing under the Letter of Credit, or any other breach of its obligations under the Letter of Credit.
“Letter of Credit Commitment” shall mean an amount equal to the Applicable L/C Percentage of the Aggregate Liquidity Commitment as such amount may be increased or decreased from time to time pursuant to the Letter of Credit Reimbursement Agreement.
“Letter of Credit Commitment Share” shall mean the percent of the Letter of Credit Commitment attributable to each Letter of Credit Bank, as set forth from time to time on Schedule I to the Letter of Credit Reimbursement Agreement.
“Letter of Credit Disbursement” shall have the meaning assigned in Section 2.03 of the Letter of Credit Reimbursement Agreement.
“Letter of Credit Facility Fee” shall have the meaning assigned to such term in subsection 2.05(a) of the Letter of Credit Reimbursement Agreement.
									
		Annex - 29
	

“Letter of Credit Fee Letter” shall mean any letter agreement between BAFC and the Letter of Credit Agent, which describes BAFC’s obligations to pay the Letter of Credit Facility Fee.
“Letter of Credit Obligations” means all indebtedness, obligations and liabilities, whether absolute, fixed or contingent, at any time owing by BAFC to the Letter of Credit Agent and the Letter of Credit Banks under the Letter of Credit Reimbursement Agreement and the Letter of Credit Fee Letter, including for this purpose, without limitation, the Letter of Credit Facility Fee, Repayment Amounts and any Fees, Costs and Expenses of the Letter of Credit Agent and the Letter of Credit Banks thereunder.
“Letter of Credit Reimbursement Agreement” shall mean the Ninth Amended and Restated Letter of Credit Reimbursement Agreement, dated as of December 14, 2018, among the Series 2000-1 Purchaser, the Letter of Credit Agent and the Letter of Credit Banks, as amended, supplemented or otherwise modified from time to time in accordance with the Transaction Documents.
“Letter of Representations” means that certain Letter of Representations, dated as of August 25, 2000, entered into between BAFC, JPMorgan Chase and DTC, as the same may at any time be modified or amended and in effect.
“LIBOR Liquidity Loan” means a Liquidity Loan bearing interest based on a LIBOR Rate in accordance with Section 3.03 of the Liquidity Agreement.
“LIBOR Rate” shall mean, with respect to any Borrowing of LIBOR Liquidity Loans for any Interest Period, the LIBOR Screen Rate at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period; provided that if the LIBOR Screen Rate shall not be available at such time for such Interest Period (an “Impacted Interest Period”) with respect to the applicable currency then the LIBOR Rate shall be the Interpolated Rate.
“LIBOR Screen Rate” means, for any day and time, with respect to any Borrowing of LIBOR Liquidity Loans for any Interest Period, the London interbank offered rate for Dollars as administered by ICE Benchmark Administration (or any other Person that takes over the administration of such rate for Dollars) for a period equal in length to such Interest Period as displayed on such day and time on pages LIBOR01 or LIBOR02 of the Reuters screen that displays such rate (or, in the event such rate does not appear on a Reuters page or screen, on any successor or substitute page on such screen that displays such rate, or on the appropriate page of such other information service that publishes such rate from time to time as selected by the Administrative Agent in consultation with BAFC); provided that if the LIBOR Screen Rate as so determined would be less than zero, such rate shall be deemed to be zero.
									
		Annex - 30
	

“LIBOR Successor Rate” shall have the meaning assigned to such term in Section 4.09 of the Liquidity Agreement.
“Lien” shall mean, with respect to any asset, (a) any mortgage, deed of trust, lien, pledge, encumbrance, charge or security interest in or on such asset and (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention agreement relating to such asset.
“Lien Creation” shall mean the creation, incidence, assumption or suffering to exist by the Company, the Servicer or a Seller of any Lien upon the Purchased Loans, Related Property or the proceeds thereof.
“Liquid Inventory” shall mean, as to the Guarantor and its consolidated Subsidiaries at any time, its inventory at such time of commodities which are traded on any recognized commodities exchange, valued depending on the type of such commodity at either (a) the lower of cost or the market value at such time or (b) the market value at such time.
“Liquidation Event” shall have the meaning assigned to such term in Article VIII of the Liquidity Agreement.
“Liquidity Agreement” shall mean that certain Thirteenth Amended and Restated Liquidity Agreement, dated as of December 14, 2018, entered into among BAFC, the Administrative Agent and the Liquidity Banks, as the same may at any time be modified or amended and in effect.
“Liquidity Bank Breach” means a failure or refusal of the Administrative Agent or a Liquidity Bank to make an advance properly requested under the Liquidity Agreement.
“Liquidity Bank Obligations” means all indebtedness, obligations and liabilities, whether absolute, fixed or contingent, at any time owing by BAFC to the Administrative Agent or the Liquidity Banks under the Liquidity Agreement, including, without limitation, the Liquidity Loan Obligations and any Fees, Costs and Expenses of the Administrative Agent or the Liquidity Banks thereunder.
“Liquidity Bank(s)” shall mean a financial institution or institutions now or hereafter a party to the Liquidity Agreement as a lender, together with their successors and permitted assigns; provided that such successors and permitted assigns must have short-term ratings of at least “A-1” by S&P and “P-1” by Moody’s.
“Liquidity Commitment” shall mean the obligation of the Liquidity Banks to make Liquidity Loans in a maximum principal amount at any time outstanding equal to the amount set forth on Annex Y to the Liquidity Agreement, as such amount may from time to time be reduced pursuant to Sections 4.02 and 4.03 of the Liquidity Agreement.
									
		Annex - 31
	

“Liquidity Commitment Anniversary” shall mean the date falling twelve (12) Months after the Amendment Effective Date and the date falling on each twelve (12) Months anniversary thereafter.
“Liquidity Commitment Expiration Date” means the Original Liquidity Commitment Expiration Date or, in respect of Consenting Liquidity Banks (and replacement Liquidity Banks, if applicable), if the extension option under Section 4.03(b) of the Liquidity Agreement has been exercised, the First Extension Liquidity Commitment Expiration Date or the Second Extension Liquidity Commitment Expiration Date. 
“Liquidity Commitment Extension Request” and “Liquidity Commitment Extension Requests” shall have the meaning assigned to such term in Section 4.03(b)(ii) of the Liquidity Agreement.
 “Liquidity Facility Collateral” shall mean collectively, all of the Issuer’s right, title and interest in (i) the Letter of Credit Reimbursement Agreement, (ii) all amounts deposited in the Collateral Accounts related to drawings by the Administrative Agent under the Letter of Credit, (iii) all amounts deposited in the Reserve Account by BAFC pursuant to subsection 5.05(g) of the Liquidity Agreement and (iv) all proceeds, in cash or otherwise, of the Liquidity Facility Collateral described in the foregoing clauses (i), (ii) and (iii), all Liens with respect to such Liquidity Facility Collateral and all remedies and claims (whether in nature of indemnities, warranties, guaranties or otherwise) of the Issuer with respect to such Liquidity Facility Collateral, including without limitation, the right of the Issuer to bring suit to enforce its rights with respect to such Liquidity Facility Collateral, in any case whether now existing or hereafter arising.
“Liquidity Loan Notes” shall have the meaning assigned to such term in subsection 3.02(a) of the Liquidity Agreement.
“Liquidity Loan Obligations” shall mean the principal amount of, and interest accrued on, any Liquidity Loans by the Liquidity Banks to BAFC under the Liquidity Agreement.
“Liquidity Loan(s)” shall mean a loan or loans from the Liquidity Banks to BAFC pursuant to the Liquidity Agreement.
 “Loan(s)” shall mean any and all loans or advances to or for the account of Eligible Obligors by a Seller, each as evidenced by Loan Note(s).
“Loan Assets” shall, as used in the Sale Agreement, have the meaning assigned in subsection 2.01(a) thereof.
“Loan Documents” shall mean each Loan Note, and each other document, certificate or instrument entered into or delivered in connection with a Loan.
									
		Annex - 32
	

“Loan Note(s)” means the promissory notes, executed by any Obligor from time to time, together with all renewals, extensions, modifications and replacements thereof and substitutions therefor, which have been endorsed by such Obligor, to be payable to the order of the Trustee, for the benefit of the Holders.
“Loan Purchase Date” shall mean, with respect to any Purchased Loan, the Business Day on which the Company purchases such Purchased Loan from the applicable Seller and transfers such Purchased Loan to the Trust.
“Lock-Box Accounts” shall mean the accounts listed on Exhibit C to the Servicing Agreement, each in the name of the Company, and under the exclusive ownership, dominion and control of the Trustee.
“Lock-Box Agreement” shall mean an agreement between the Servicer, the Company, the Trustee (on behalf of the Investor Certificateholders) and the Lock-Box Bank in substantially the form of Exhibit D to the Servicing Agreement.
“Lock-Box Bank” shall mean each of the banks set forth on Exhibit C to the Servicing Agreement, and such banks as may be added thereto or deleted therefrom pursuant to subsection 2.03(d) of the Servicing Agreement.
“Majority Letter of Credit Banks” shall mean one or more Letter of Credit Banks whose aggregate Letter of Credit Commitment Share exceed 50% of the Letter of Credit Commitment.
“Majority Liquidity Banks” shall mean (i) Liquidity Banks having an aggregate Percentage of the Aggregate Liquidity Commitment greater than fifty percent (50%) or (ii) if the Aggregate Liquidity Commitment shall have been terminated, Liquidity Banks holding more than 50% of the aggregate outstanding Liquidity Loans.
“Mandatory CP Wind-Down Event” shall have the meaning assigned to such term in Section 8.02 of the Liquidity Agreement.
“Mandatory Liquidation Event” has the meaning ascribed to such term in Section 8.01 of the Liquidity Agreement.
“Margin Stock” shall have the meaning given to such term in Regulation U of the Federal Reserve Board.
“Master Note” shall mean a CP Note issued in the name of Cede & Co., the nominee of DTC, in an aggregate principal amount at all times reflecting the aggregate unpaid principal amount of all Commercial Paper which constitutes Book-Entry CP Notes.
									
		Annex - 33
	

“Material Adverse Effect” shall mean (a) a material impairment of the ability of a Seller, the Servicer, the Guarantor, BAFC or the Company, as the case may be, to perform its obligations under the Transaction Documents, (b) a materially adverse effect on the business, operations, property, prospects or condition (financial or otherwise) of a Seller, the Servicer, BAFC, the Company or the  Guarantor and its consolidated Subsidiaries taken as a whole, (c) a material impairment of the validity or enforceability of any of the Transaction Documents against a Seller, the Servicer, the Guarantor, BAFC or the Company, (d) a material impairment of the collectability of the Purchased Loans taken as a whole or (e) a material impairment of the interests, rights or remedies of the Trustee or the Investor Certificateholders of any Outstanding Series (or, if applicable, any Letter of Credit Bank or any Liquidity Bank) under or with respect to the Transaction Documents or the Purchased Loans taken as a whole.
“Month” shall mean a period starting on one day in a calendar month and ending on the numerically corresponding day in the next calendar month, except that (a) (subject to paragraph (c) below) if the numerically corresponding day is not a Business Day, that period shall end on the next Business Day in that calendar month in which that period is to end if there is one, or if there is not, on the immediately preceding Business Day; (b) if there is no numerically corresponding day in the calendar month in which that period is to end, that period shall end on the last Business Day in that calendar month; and (c) if an Interest Period begins on the last Business Day of a calendar month, that Interest Period shall end on the last Business Day in the calendar month in which that Interest Period is to end.
“Monthly Servicing Fee” shall have the meaning assigned in subsection 2.05(a) of the Servicing Agreement.
“Monthly Settlement Statement” shall have the meaning assigned in Section 4.02 of the Servicing Agreement.
“Moody’s” shall mean Moody’s Investors Service, Inc. or any successor thereto.
“Multiemployer Plan” shall mean with respect to any Person, a multiemployer plan as defined in Section 4001(a)(3) of ERISA to which such Person or any ERISA Affiliate of such Person (other than one considered an ERISA Affiliate only pursuant to subsection (m) or (o) of Section 414 of the Code) is making or accruing an obligation to make contributions, or has within any of the preceding five plan years made or accrued an obligation to make contributions.
“Multiple Employer Plan” means a single employer plan, as defined in Section 4001(a)(15) of ERISA, that (a) is maintained for employees of the Guarantor or any ERISA Affiliate and at least one Person other than such Guarantor and the ERISA Affiliates or (b) was so maintained and in respect of which the Guarantor or any ERISA Affiliate could have liability under Section 4064 or 4069 of ERISA in the event such plan has been or were to be terminated.
									
		Annex - 34
	

“Net Worth” shall mean with respect to any Person, the sum of such Person’s capital stock, capital in excess of par or stated value of shares of its capital stock, retained earnings and any other account which, in accordance with GAAP, constitutes stockholders’ equity, excluding any treasury stock.
“NoIssuance Conditions for Commercial Paper” means the following:
(1)    the Depositary shall have received, prior to the time of delivery of any CP Note to a Placement Agent (or other appropriate dealer or its designated consignee), and in any event prior to 12:01 p.m., New York City time, instructions from an officer of the Administrative Agent not to issue or deliver CP Notes because:
(A)    a Mandatory Liquidation Event has occurred and is continuing, (B) a Mandatory CP Wind-Down Event has occurred and is continuing, (C) the issuance of CP Notes is prohibited pursuant to subsection 4.02(b) or (c) of the Liquidity Agreement, (D) BAFC shall have terminated the Aggregate Liquidity Commitment under the Liquidity Agreement pursuant to subsection 4.02(a) thereof, (E) the Aggregate Liquidity Commitment shall otherwise have been terminated in whole for any reason in accordance with Article VIII of the Liquidity Agreement, (F) the conditions precedent specified in Article VI of the Liquidity Agreement with respect to the issuance of CP Notes are not satisfied (until revoked or superseded by further instructions from an officer of the Administrative Agent), (G) the Liquidity Commitment Expiration Date or termination of the Liquidity Agreement shall have occurred, or the L/C Expiration Date shall have occurred, or (H) a Security Agreement Event of Default shall have occurred; or
(2)    if the CP Notes are to be issued on a date which is less than three (3) Business Days before the Liquidity Commitment Expiration Date, the Depositary shall not have received written notice from the Administrative Agent in accordance with Section 4.03 of the Liquidity Agreement, extending such Liquidity Commitment Expiration Date; or
(3)    if at the time of proposed issuance of the CP Notes, the Depositary shall have received written notice that the Collection Account or any Collateral Account is subject to any stay, writ, order, judgment, warrant of attachment, execution or similar process and BAFC shall not have obtained the prior approval of the Administrative Agent to continue to issue and sell the CP Notes in accordance with subsection 4.02(c) of the Liquidity Agreement.
									
		Annex - 35
	

“Non-U.S Liquidity Bank” shall have the meaning assigned in Section 4.06(e) of the Liquidity Agreement.
“Notice Address” or “Notice Addresses” shall mean as follows: 
									
	If to BAFC:		BUNGE ASSET FUNDING CORP.
1391 Timberlake Manor Parkway
Chesterfield, Missouri 63017
Attention: Treasurer 
Tel. No: (636) 292-3029
Telecopy: (636) 292-4029

with a copy to:

BUNGE LIMITED
1391 Timberlake Manor Parkway
Chesterfield, Missouri 63017
Attention: Treasurer 
Tel. No: (636) 292-3029
Telecopy: (636) 292-4029

			
	If to BLFC:		BUNGE LIMITED FINANCE CORP.
1391 Timberlake Manor Parkway
Chesterfield, Missouri 63017
Attention: Treasurer 
Tel. No: (636) 292-3029
Telecopy: (636) 292-4029

with a copy to:

BUNGE LIMITED
1391 Timberlake Manor Parkway
Chesterfield, Missouri 63017
Attention: Treasurer 
Tel. No: (636) 292-3029
Telecopy: (636) 292-4029

			

									
		Annex - 36
	

									
	If to BFE:		BUNGE FINANCE EUROPE B.V.
1391 Timberlake Manor Parkway
Chesterfield, Missouri 63017
Attention: Treasurer 
Tel. No: (636) 292-3029
Telecopy: (636) 292-4029

with a copy to:

BUNGE LIMITED
1391 Timberlake Manor Parkway
Chesterfield, Missouri 63017
Attention: Treasurer 
Tel. No: (636) 292-3029
Telecopy: (636) 292-4029

			
	If to Rabobank as Letter of Credit Agent and as Letter of Credit Bank:		COÖPERATIEVE RABOBANK U.A., NEW YORK BRANCH
245 Park Avenue, 38th Floor
New York, NY 10167-0062
Attention:    International Trade Services Dept
Tel. No:  (212) 574-7315
Telecopy:  (914) 304-9330

			
	If to CoBank as Letter of Credit Bank:		COBANK, ACB
5500 South Quebec Street
Greenwood Village, CO 80111
Attention:  Porter Little
Tel. No.:  (303) 694-5954
Telecopy:  (303) 740-6492

			
	If to the Administrative Agent:		JPMORGAN CHASE BANK, N.A.
500 Stanton Christiana Rd, NCC5, Floor 1
Newark, DE 19713
Attention: Robert Nichols
Tel. No:  (302) 634-3376
Telecopy:  (201) 244-3628

			

									
		Annex - 37
	

									
	If to the Collateral Agent:		THE BANK OF NEW YORK MELLON
240 Greenwich Street, Floor 7W
New York, NY  10286
Attention: Global Structured Finance
Telecopy:  (212) 815-5917

			
	If to the Depositary with respect to Instructions regarding the Commercial Paper:		BANK OF AMERICA, N.A.
135 South LaSalle Street
Mail Code IL4-135-18-11
Chicago, IL 60603
Attention:    IPA Operations
Tel. No:  (312) 992-7990
Fax:  (866) 940-0414

			
	If to the Depositary with respect to all other notices:		BANK OF AMERICA, N.A.
135 South LaSalle Street
Mail Code IL4-135-05-07
Chicago, IL 60603
Attention:    Marili Nieminski
Tel. No:  (312) 992-2306
Telecopy:  (312) 453-3478

			
	If to JPMS as Placement Agent:		J.P. MORGAN SECURITIES LLC
383 Madison Avenue – 3rd Floor
New York, NY  10179
Attention:  Short-Term Fixed Income
Tel. No:  (212) 834-5543
Telecopy:  (212) 834-6560

			
	If to Citigroup as Placement Agent:		CITIGROUP GLOBAL MARKETS INC.
390 Greenwich Street, 4th Floor
New York, NY  10013
Attention:  Money Markets Origination
Tel. No:  (212) 723-6669
Telecopy:  (212) 723-8624

			

									
		Annex - 38
	

									
	If to the Trustee:		THE BANK OF NEW YORK MELLON
240 Greenwich Street, Floor 7W
New York, NY  10286
Attention: Global Structured Finance
Telecopy:  (212) 815-5917

			
	If to BL as the Guarantor:		BUNGE LIMITED
1391 Timberlake Manor Parkway
Chesterfield, Missouri 63017
Attention: Treasurer 
Tel. No: (636) 292-3029
Telecopy: (636) 292-4029

			
	If to the Servicer:		BUNGE MANAGEMENT SERVICES, INC.
1391 Timberlake Manor Parkway
Chesterfield, Missouri 63017
Attention: Treasurer 
Tel. No: (636) 292-3029
Telecopy: (636) 292-4029

with a copy to:

BUNGE LIMITED
1391 Timberlake Manor Parkway
Chesterfield, Missouri 63017
Attention: Treasurer 
Tel. No: (636) 292-3029
Telecopy: (636) 292-4029

			

									
		Annex - 39
	

									
	If to the Company:		BUNGE FUNDING, INC.
1391 Timberlake Manor Parkway
Chesterfield, Missouri 63017
Attention: Treasurer 
Tel. No: (636) 292-3029
Telecopy: (636) 292-4029

with a copy to:

BUNGE LIMITED
1391 Timberlake Manor Parkway
Chesterfield, Missouri 63017
Attention: Treasurer 
Tel. No: (636) 292-3029
Telecopy: (636) 292-4029

			
	If to Bunge Finance:		BUNGE FINANCE LIMITED
1391 Timberlake Manor Parkway
Chesterfield, Missouri 63017
Attention: Treasurer 
Tel. No: (636) 292-3029
Telecopy: (636) 292-4029

with a copy to:

BUNGE LIMITED
1391 Timberlake Manor Parkway
Chesterfield, Missouri 63017
Attention: Treasurer 
Tel. No: (636) 292-3029
Telecopy: (636) 292-4029

			

									
		Annex - 40
	

									
	If to Bunge Finance North America:		BUNGE FINANCE NORTH AMERICA, INC.
1391 Timberlake Manor Parkway
Chesterfield, Missouri 63017
Attention: Treasurer 
Tel. No: (636) 292-3029
Telecopy: (636) 292-4029

with a copy to:

BUNGE LIMITED
1391 Timberlake Manor Parkway
Chesterfield, Missouri 63017
Attention: Treasurer 
Tel. No: (636) 292-3029
Telecopy: (636) 292-4029

			

“Notice of Borrowing” has the meaning ascribed to such term in subsection 3.01(b) of the Liquidity Agreement.
“Notice of Enforcement” has the meaning assigned to such term in subsection 6.1(b) of the Security Agreement.
“Notice of a Security Agreement Event of Default” shall have the meaning assigned to such term in subsection 6.1(a) of the Security Agreement.
“NYFRB” shall mean the Federal Reserve Bank of New York.
“NYFRB Rate” shall mean, for any day, the greater of (a) the Federal Funds Effective Rate in effect on such day and (b) the Overnight Bank Funding Rate in effect on such day (or for any day that is not a Business Day, for the immediately preceding Business Day); provided, that if none of such rates are published for any day that is a Business Day, the term “NYFRB Rate” means the rate for a federal funds transaction quoted at 11:00 a.m. on such day received by the Administrative Agent from a federal funds broker of recognized standing selected by it; provided, further, that if any of the aforesaid rates as so determined be less than zero, such rate shall be deemed to be zero.
“Obligations” means all indebtedness, obligations and liabilities of BAFC as defined in Article II of the Security Agreement.
									
		Annex - 41
	

“Obligor” shall mean, with respect to any Loan, the party obligated to make payments with respect to such Loan, including any guarantor thereof.
“OECD Country” shall mean a country that is a member of the grouping of countries that are full members of the Organization of Economic Cooperation and Development. 
“OFAC” shall have the meaning set forth in the definition of “Sanctions.”
“Offering Memoranda” or “Offering Memorandum” means the offering memorandum dated December 2018 as the same may be amended from time to time which describes (i) the CP Notes, (ii) the proposed use of proceeds from the sale of the CP Notes, (iii) the business of BAFC, the Servicer and the Guarantor, and any material change thereof or in the financial condition of BAFC, the Servicer and the Guarantor, (iv) such summary financial information concerning BAFC, the Servicer and the Guarantor as BAFC, the Servicer, the Guarantor and the Placement Agent consider appropriate, and (v) the restrictions on resale of the CP Notes.
“Opinion of Counsel” shall mean a written opinion or opinions of one or more counsel (who, unless otherwise specified in the Transaction Documents, may be internal counsel) to the Company, the Servicer or a Seller, designated by the Company, the Servicer or a Seller, as the case may be, that is reasonably acceptable to the Trustee, the Letter of Credit Agent (if applicable) and the Administrative Agent (if applicable).
“Optional Repurchase Percentage” shall have, with respect to any Series, the meaning assigned in the related Supplement for such Series.
“Optional Termination Notice” shall have, with respect to any Series, the meaning assigned in the related Supplement for such Series.
“Original Liquidity Commitment Expiration Date” shall mean the date on which the Aggregate Liquidity Commitment shall expire as provided in Annex Y to the Liquidity Agreement, or if such day is not a Business Day, the preceding Business Day.
“Original Principal Amount” of any Purchased Loan shall mean the Principal Amount of such Loan as of the date on which such Loan is sold or otherwise conveyed to the Company under the Sale Agreement.
“Other Connection Taxes” shall mean, with respect to the Administrative Agent, any Liquidity Bank, the Letter of Credit Agent, any Letter of Credit Bank, the Collateral Agent, the Trustee or any other recipient of payment to be made by or on account of any obligation of BAFC under any Transaction Document, Taxes imposed as a result of a present or former connection between the Administrative Agent, such Liquidity Bank, the Letter of Credit Agent, such Letter of Credit Bank, the Collateral Agent, the Trustee or other recipient and the jurisdiction imposing such Tax (other than connections arising from the Administrative Agent, 
									
		Annex - 42
	

such Liquidity Bank, the Letter of Credit Agent, such Letter of Credit Bank, the Collateral Agent, the Trustee or other recipient having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Transaction Document, or sold or assigned an interest in any Liquidity Loan, Letter of Credit or Transaction Document).
“Other Taxes” shall mean any and all present or future stamp or documentary Taxes or any other excise or property Taxes, charges or similar levies arising from any payment made hereunder or from the execution, delivery or enforcement of, or otherwise with respect to, the Liquidity Agreement or any other Transaction Document.
“Outstanding Series” shall mean, at any time, a Series issued pursuant to an effective Supplement for which the Series Termination Date for such Series has not occurred.
“Overnight Bank Funding Rate” shall mean, for any day, the rate comprised of both overnight federal funds and overnight eurocurrency borrowings for Dollars by U.S.-managed banking offices of depository institutions, as such composite rate shall be determined by the NYFRB as set forth on its public website from time to time, and published on the next succeeding Business Day by the NYFRB as an overnight bank funding rate.
“Participant” has the meaning ascribed to such term in subsection 11.05(b) of the Liquidity Agreement.
“Participant Register” shall (i) as used in the Liquidity Agreement, have the meaning assigned to such term in subsection 11.05(b) thereof and (ii) as used in the Letter of Credit Reimbursement Agreement, have the meaning assigned to such term in subsection 6.09(d) thereof.
“Patriot Act” has the meaning ascribed to such term in subsection 11.21 of the Liquidity Agreement.
“Paying Agent” shall mean any paying agent and co-paying agent appointed pursuant to Section 5.06 of the Pooling Agreement and, unless otherwise specified in the related Supplement of any Series and with respect to such Series, shall initially be The Bank of New York.
“Payment Office” means the office of the Administrative Agent in New York, New York or the Letter of Credit Agent at New York, New York, as applicable, or such other office as the Administrative Agent or the Letter of Credit Agent may hereafter designate in writing as such to BAFC, the Collateral Agent and the Depositary.
“PBGC” shall mean the Pension Benefit Guaranty Corporation established pursuant to Subtitle A of Title IV of ERISA and any Person succeeding to the functions thereof.
									
		Annex - 43
	

“Percentage” shall mean, for each Liquidity Bank, the percentage of the Aggregate Liquidity Commitment set forth opposite the name of such Liquidity Bank on Annex Y to the Liquidity Agreement, as adjusted as additional Liquidity Banks become a party to the Liquidity Agreement.
“Performing Liquidity Bank” shall mean any Liquidity Bank that is a Defaulting Liquidity Bank solely as a result of the occurrence of an event described in clause (d) of the definition of Defaulting Liquidity Bank that following such event continues to perform all of its obligations under the Liquidity Agreement and any other Transaction Document, and has not been replaced or repaid in accordance with Section 4.07 of the Liquidity Agreement.
“Permitted Indebtedness” means (i) indebtedness evidenced by the Commercial Paper, (ii) indebtedness evidenced by the Liquidity Loan Notes and the Liquidity Agreement, (iii) indebtedness of BAFC representing fees, expenses and indemnities payable to the Depositary pursuant to the Depositary Agreement, (iv) indebtedness of BAFC representing amounts, indemnities or expenses payable to a Placement Agent under a Placement Agency Agreement, (v) indebtedness of BAFC representing fees, expenses and indemnities payable to the Administrative Agent and the Liquidity Banks, (vi) indebtedness of BAFC representing fees, expenses and indemnities, including without limitation, the Letter of Credit Facility Fees, payable to the Letter of Credit Agent and the Letter of Credit Banks under the Letter of Credit Reimbursement Agreement, (vii) indebtedness of BAFC representing fees, expenses or other amounts payable to investment bankers, lawyers, accountants, consultants, financial advisors and other professionals for services rendered to BAFC, including, but not limited to, premiums payable for officer and director liability insurance coverage, (viii) indebtedness representing Taxes of BAFC, (ix) indebtedness of BAFC under the Letter of Credit Reimbursement Agreement or any other amounts or obligations in respect of the Letter of Credit or Letter of Credit Reimbursement Agreement, (x) indebtedness of BAFC representing fees, expenses or other amounts payable to the Collateral Agent under the Security Agreement, and (xi) any other indebtedness or liabilities that shall not exceed $50,000 at any one time outstanding.
“Permitted Liens” shall mean, at any time, for any Person:
(a)    Liens created pursuant to any Transaction Document;
(b)    Liens for taxes, assessments or other governmental charges or levies (i) which are not delinquent or remain payable without any penalty or (ii) the validity of which is contested in good faith by appropriate proceedings upon stay of execution of the enforcement thereof or upon posting a bond in connection therewith and reserves to the extent required by GAAP with respect thereto have been provided on the books of such Person;
(c)    Liens of or resulting from any judgment or award, the time for the appeal or petition for rehearing of which shall not have expired, or in respect of which such 
									
		Annex - 44
	

Person shall at any time in good faith be prosecuting an appeal or proceeding for a review and with respect to which adequate reserves or other appropriate provisions are being maintained in accordance with GAAP; and
(d)    Liens, charges or other encumbrances or priority claims incidental to the conduct of business or the ownership of properties and assets (including mechanics’, carriers’, repairers’, warehousemen’s and statutory landlords’ Liens) and deposits, pledges or Liens to secure statutory obligations, surety or appeal bonds or other Liens of like general nature incurred in the ordinary course of business and not in connection with the borrowing of money, provided in each case, the obligation secured is not overdue, or, if overdue, is being contested in good faith by appropriate actions or proceedings and with respect to which adequate reserves or other appropriate provisions are being maintained in accordance with GAAP.
“Permitted Secured Indebtedness” shall mean any Secured Indebtedness that:
(a)    is secured by any mechanic, laborer, workmen, repairmen, materialmen, supplier, carrier, warehousemen, landlord or vendor Lien or any other Lien provided for by mandatory provisions of law, any order, attachment or similar legal process arising in connection with a court or other similar proceeding, any tax, charge or assessment ruling or required by any Governmental Authority under any other similar circumstances;
(b)    is incurred or assumed solely for the purpose of financing all or any part of the cost of constructing or acquiring Property, and any Secured Indebtedness extending, renewing or replacing, in whole or in part Secured Indebtedness permitted pursuant to this clause (b), so long as the principal amount of the Secured Indebtedness secured by such Lien does not exceed its original principal amount;
(c)    is secured by Property existing prior to the acquisition of such Property or the acquisition of any Subsidiary that is the owner of such Property and is not incurred in contemplation of such acquisition and any Secured Indebtedness extending, renewing or replacing, in whole or in part Secured Indebtedness permitted pursuant to this clause (c), so long as the principal amount of the Secured Indebtedness secured by such Lien does not exceed its original principal amount; 
(d)     is owed by any Subsidiary to the Guarantor or any other Subsidiary; 
(e) is secured by any accounts receivable from or invoices to export customers (including, but not limited to, Subsidiaries), any contracts to sell, purchase or receive commodities to or from export customers and any cash collateral and proceeds thereof; 
(f) is incurred pursuant to the Loan Documents or Transaction Documents; 
									
		Annex - 45
	

(g) is secured by accounts receivable and other related assets arising in connection with transfers thereof to the extent such transfers are treated as true sales; 
(h) is secured by a Lien on any checking account, saving account, clearing account, futures account, deposit account, securities account, brokerage account, custody account or other account (or on any assets held in such account), securing obligations under any agreement or arrangement related to the opening of or provision of clearing, pooling, zero-balancing, brokerage, settlement, margin or other services related to such account (or on any assets held in such account), which customarily exist on similar accounts (or on any assets held in such accounts) of corporations in connection with the opening of, or provision of clearing, pooling, zero-balancing, brokerage, settlement, margin or other services related, to such accounts; or
(i) is incurred in connection with letters of credit or other similar instruments issued in the normal course of business of the Guarantor or any Subsidiary, including without limitation, obligations under reimbursement agreements.
“Person” shall mean any individual, partnership, corporation, business trust, joint stock company, trust, unincorporated association, joint venture, limited liability company, Governmental Authority or other entity of whatever nature.
“Placement Agency Agreement” means (i) that certain Fifth Amended and Restated Placement Agency Agreement, dated as of November 17, 2014, entered into between BAFC, BL and JPMS, as Placement Agent, (ii) that certain Amended and Restated Placement Agency Agreement, dated as of November 17, 2014, entered into between BAFC, BL and Citigroup, as Placement Agent, and (iii) each other placement agency agreement entered into between BAFC and a Placement Agent, in each case as the same may at any time be modified or amended and in effect.
“Placement Agent” shall mean J.P. Morgan Securities LLC and Citigroup Global Markets Inc. in their respective capacities as Placement Agent under their respective Placement Agency Agreement, and each other placement agent appointed by BAFC pursuant to a Placement Agency Agreement, in each case together with any successors and assigns.
“Plan” means a Single Employer Plan or a Multiple Employer Plan.
 “Plan Asset Regulations” shall mean 29 CFR § 2510.3-101 et seq., as modified by Section 3(42) of ERISA, as amended from time to time. 
“Pooling Agreement” shall mean the Sixth Amended and Restated Pooling Agreement, dated as of August 31, 2020, among the Company, the Servicer and the Trustee, and all amendments thereof and supplements thereto, and including, unless expressly stated otherwise, each Supplement.
									
		Annex - 46
	

“Pooling and Servicing Agreements” shall have the meaning assigned in subsection 10.01(a) of the Pooling Agreement.
“Potential Early Amortization Event” shall mean an event which, with the giving of notice and/or the lapse of time, would constitute an Early Amortization Event under the Pooling Agreement or under any Supplement.
“Potential Mandatory Liquidation Event” shall mean any condition or act that, with the giving of notice or the lapse of time or both, would become a Mandatory Liquidation Event.
“Potential Purchase Termination Event” shall mean any condition or act that, with the giving of notice or the lapse of time or both, would become a Purchase Termination Event.
“Potential Series 2000-1 Early Amortization Event” shall mean an event which, with the giving of notice or the lapse of time or both, would constitute a Series 2000-1 Early Amortization Event.
“Potential Series 2002-1 Early Amortization Event” shall mean an event which, with the giving of notice or the lapse of time or both, would constitute a Series 2002-1 Early Amortization Event.
“Potential Series 2003-1 Early Amortization Event” shall mean an event which, with the giving of notice or the lapse of time or both, would constitute a Series 2003-1 Early Amortization Event.
“Potential Servicer Default” shall mean an event which, with the giving of notice or the lapse of time or both, would constitute a Servicer Default hereunder or under the Servicing Agreement or any Supplement.
“Prepayment Request” shall have, with respect to any Series, the meaning assigned in the related Supplement.
“Prime Rate” shall mean the rate of interest last quoted by The Wall Street Journal as the “Prime Rate” in the U.S. or, if The Wall Street Journal ceases to quote such rate, the highest per annum interest rate published by the Federal Reserve Board in Federal Reserve Statistical Release H.15 (519) (Selected Interest Rates) as the “bank prime loan” rate or, if such rate is no longer quoted therein, any similar rate quoted therein (as determined by the Administrative Agent) or any similar release by the Federal Reserve Board (as determined by the Administrative Agent). Each change in the Prime Rate shall be effective from and including the date such change is publicly announced or quoted as being effective; provided that, if the Prime Rate as so determined would be less than zero, such rate shall be deemed zero.
									
		Annex - 47
	

“Prime Rate Liquidity Loan” means a Liquidity Loan bearing interest based at ABR in accordance with Section 3.03 of the Liquidity Agreement.
“Principal Amount” shall mean, with respect to any Purchased Loan, the unpaid principal amount due thereunder.
“Principal Terms” shall have the meaning, with respect to any Series issued pursuant to a Company Exchange, assigned in subsection 5.10(c) of the Pooling Agreement.
“Program Costs” shall have, with respect to any Series, the meaning assigned in the related Supplement for such Series.
“Program Parties” shall mean BAFC, the Collateral Agent, the Depositary, each Placement Agent, the Servicer and the Guarantor.
“Property” shall mean any of the Guarantor’s or any Subsidiary’s present or future property including any asset, revenue, or right to receive income or any other property, whether tangible or intangible, real or personal.
“PTE” shall mean a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be amended from time to time.
“Publication Date” shall have the meaning assigned in subsection 7.02(a) of the Pooling Agreement.
“Purchase Termination Event” shall have the meaning assigned in Section 7.01 of the Sale Agreement.
“Purchased Loan” shall mean all Eligible Loans sold by the Sellers to the Company and thereafter sold by the Company to the Trust as indicated in the Daily Reports delivered to the Trustee.
“Rabobank” shall mean Coöperatieve Rabobank U.A., New York Branch, and its successors and assigns.
“Rate of Exchange” shall mean, as of the relevant date, the rate of exchange set forth on the relevant page of the Telerate screen on or about 11:00 A.M., New York City time, for the purchase of (as the context shall require) an Approved Currency with any other Approved Currency on such date.
“Rating Agency” shall mean, with respect to each Outstanding Series, any rating agency or agencies designated as such in the related Supplement; provided that (i) in the event that no Outstanding Series has been rated, then for purposes of the definitions of “Eligible Institution” and “Eligible Investments”, “Rating Agency” shall mean S&P and Moody’s; (ii) 
									
		Annex - 48
	

except as provided in (i), in the event no Outstanding Series has been rated, any reference to “Rating Agency” or the “Rating Agencies” shall be deemed to have been deleted from the Pooling Agreement, except that references to the term “Rating Agency Condition” shall not be deemed deleted, but shall be modified as set forth under the definition of such term.
“Rating Agency Condition” shall mean, with respect to any action, that each Rating Agency shall have notified the Company, the Servicer, the Letter of Credit Agent (if applicable), the Administrative Agent (if applicable) and the Trustee in writing that such action will not result in a reduction, qualification or withdrawal of the rating of any Outstanding Series or any Class of any such Outstanding Series (or, if applicable, the Commercial Paper) with respect to which it is a Rating Agency; provided that in the event that an Outstanding Series has not been rated, any reference to a “Rating Agency Condition” shall be deemed to be a reference to the consent of Investor Certificateholders representing Fractional Undivided Interest aggregating not less than 50% of the Invested Amount of such Series with respect to such action.
“Record Date” shall mean, with respect to the initial Distribution Date, the Business Day immediately preceding such Distribution Date and, with respect to any other Distribution Date, the last Business Day of the immediately preceding Settlement Period.
“Recoveries” shall mean all amounts collected (net of outofpocket costs of collection) in respect of Defaulted Loans.
“Register” has the meaning ascribed to it in subsection 11.05(f) of the Liquidity Agreement.
“Regulation D” shall mean Regulation D of the Federal Reserve Board, as in effect from time to time and all official rulings and interpretations thereunder or thereof.
"Regulation U" shall mean Regulation U of the Federal Reserve Board, as in effect from time to time and all official rulings and interpretations thereunder or thereof.
“Regulation X” shall mean Regulation X of the Federal Reserve Board, as in effect from time to time and all official rulings and interpretations thereunder or thereof.
“Related Property” shall mean, with respect to each Purchased Loan:
(a)    all security interests or Liens and property subject thereto from time to time purporting to secure payment of such Purchased Loan, whether pursuant to the Loan Documents related to such Purchased Loan or otherwise, together with all financing statements signed by an Obligor describing any collateral securing such Purchased Loan; and
(b)    all guarantees, insurance and other agreements or arrangements of whatever character from time to time supporting or securing payment of such Purchased 
									
		Annex - 49
	

Loan whether pursuant to the Loan Documents related to such Purchased Loan or otherwise;
including in the case of clauses (a) and (b), without limitation, any rights described therein evidenced by an account, note, instrument, contract, security agreement, chattel paper, general intangible or other evidence of indebtedness or security.
“Repayment Amount” shall have the meaning assigned to such term in Section 2.03 of the Letter of Credit Reimbursement Agreement.
“Replacement Person” means a Liquidity Bank that replaces a removed Liquidity Bank as described in subsection 4.05(d) of the Liquidity Agreement.
“Reportable Event” shall mean any reportable event as defined in Section 4043(b) of ERISA or the regulations issued thereunder with respect to a Plan (other than a Plan maintained by an ERISA Affiliate which is considered an ERISA Affiliate only pursuant to subsection (m) or (o) of Section 414 of the Code).
“Requirement of Law” for any Person shall mean the certificate of incorporation and bylaws or other organizational or governing documents of such Person, and any law, treaty, rule or regulation, or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such Person or any of its property or to which such Person or any of its property is subject.
“Reserve Account” shall have the meaning assigned to such term in Section 5.7 of the Security Agreement.
“Resignation Notice” shall have the meaning assigned in subsection 6.02(a) of the Servicing Agreement.
“Responsible Officer” shall mean (i) when used with respect to the Trustee, any officer within the Corporate Trust Office of the Trustee including any Vice President, any Assistant Vice President, Trust Officer or Assistant Trust Officer or any other officer of the Trustee customarily performing functions similar to those performed by any of the above designated officers and (ii) when used with respect to any other Person, any member of the Board, the Chief Executive Officer, the President, the Chief Financial Officer, the Treasurer or any Vice President of such Person or any other officer of such Person customarily performing functions similar to those performed by any of the above-designated officers.
“Restricted Party” shall mean any Person listed:
(a)    in the Annex to the Executive Order;
									
		Annex - 50
	

(b)    on the “Specially Designated Nationals and Blocked Persons” list maintained by OFAC; or
(c)    in any successor list to either of the foregoing.
“Restricted Payments” shall have the meaning assigned in subsection 7.03(a) of the Series 2000-1 Supplement.
“Restricted Person” shall mean a Person that is (a) listed on, or owned 50% or more by or controlled by a Person listed on any applicable Sanctions List; or (b) located in, a resident of, organized under the laws of, or owned or controlled by, or acting on behalf of, a Person located in or organized under the laws of a country or territory that is or whose government is the target of any applicable country-wide Sanctions.  For the purposes of this definition, "control" means the possession of the power to direct or cause the direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise.  The term "controlled" has the meaning correlative thereto.
“Revolving Period” shall have, with respect to any Outstanding Series, the definition assigned to such term in the related Supplement.
“Sanctions” shall mean any applicable economic sanctions laws, regulations, embargoes or restrictive measures administered, enacted or enforced by: (i) the United States government; (ii) the United Nations; (iii) the European Union; (iv) the United Kingdom; (v) the relevant authorities of Switzerland; or (vi) the respective governmental institutions and agencies of any of the foregoing, including without limitation, the Office of Foreign Assets Control of the US Department of the Treasury ("OFAC"), the United States Department of State, and Her Majesty’s Treasury (together "Sanctions Authorities").
“Sanctions Authorities” shall have the meaning assigned to such term in the definition of “Sanctions.”
“Sanctions List” shall mean the "Specially Designated Nationals and Blocked Persons" list issued by OFAC, the Consolidated List of Financial Sanctions Targets issued by Her Majesty's Treasury, or any similar applicable list issued or maintained or made public by any of the Sanctions Authorities.
“S&P” shall mean Standard & Poor’s Financial Services LLC or any successor thereto.
“Sale Agreement” shall mean the Second Amended and Restated Sale Agreement, dated as of September 6, 2002, among the Sellers and the Company, as amended, supplemented or otherwise modified from time to time in accordance with the Transaction Documents.
									
		Annex - 51
	

“Second Extension Liquidity Commitment Expiration Date” shall mean either (a) the date falling twelve (12) Months after the First Extension Liquidity Commitment Expiration Date; or (b) if the First Liquidity Commitment Extension Request has not been granted or, with respect to Liquidity Banks who have refused the First Liquidity Commitment Extension Request, the date falling twenty-four (24) Months after the Original Liquidity Commitment Expiration Date, or, in each case, if such day is not a Business Day, the preceding Business Day.
“Second Liquidity Commitment Extension Request” shall have the meaning assigned to such term in Section 4.03(b)(ii) of the Liquidity Agreement.
“Secured Indebtedness” shall mean all Indebtedness incurred by the Guarantor and any of its Subsidiaries (without duplication) which is secured by Property pledged by the Guarantor or any Subsidiary.
“Secured Parties” shall mean the Liquidity Banks, the Administrative Agent, the Letter of Credit Agent, the Letter of Credit Banks, the Commercial Paper Holders, the Collateral Agent and the respective successors and assigns of each of the forgoing.
“Securities Act” shall mean the United States Securities Act of 1933, as amended.
“Security Agreement” shall mean the Fifth Amended and Restated Security Agreement, dated as of November 17, 2014, among BAFC, the Servicer, the Administrative Agent, the Letter of Credit Agent and the Collateral Agent, as amended, supplemented or otherwise modified from time to time in accordance with the Transaction Documents.
“Security Agreement Event of Default” shall have the meaning assigned in Section 3.4 of the Security Agreement.
“Sellers” shall mean Bunge Finance and Bunge Finance North America and their respective successors and permitted assigns and any additional Seller that becomes a party to the Sale Agreement in accordance with the terms of the Transaction Documents.
“Seller Addition Date” shall have the meaning assigned in Section 3.05 of the Sale Agreement.
“Seller Adjustment Payment” shall have the meaning assigned in subsection 2.05(a) of the Sale Agreement.
“Seller Documents” shall have the meaning assigned in subsection 7.02(b)(iii) of the Sale Agreement.
“Seller Indemnified Liabilities” shall have the meaning assigned in Section 8.02 of the Sale Agreement.
									
		Annex - 52
	

“Seller Purchase Price” shall have the meaning assigned in Section 2.02 of the Sale Agreement.
“Sender” shall have the meaning assigned to such term in Section 34 of the Depositary Agreement.
“Senior Obligations” shall have the meaning assigned to such term in the Subordination Agreement.
“Series” shall mean any series of Investor Certificates the terms of which are set forth in a Supplement.
“Series 2000-1” shall mean the Series of Investor Certificates, the Principal Terms of which are set forth in the Series 2000-1 Supplement.
“Series 2000-1 Accrued Interest” shall have the meaning assigned in subsection 3A.03 of the Series 2000-1 Supplement.
“Series 2000-1 Adjusted Invested Amount” shall mean, as of any date of determination, (i) the Series 2000-1 Invested Amount on such date, minus (ii) the amount on deposit in the Series 2000-1 Collection Subaccount on such date that is unconditionally available to reduce the Series 2000-1 Invested Amount up to a maximum of the Series 2000-1 Invested Amount.
“Series 2000-1 Aggregate Unpaids” shall mean, at any time, an amount equal to the sum of (i) the Series 2000-1 Invested Amount, (ii) the Series 2000-1 Accrued Interest, (iii)  all Series 2000-1 Program Costs previously accrued and unpaid, and (iv) all other amounts owed (whether due or accrued) under the Transaction Documents by the Company, the Servicer, the Sellers or BAFC to the Secured Parties at such time.
“Series 2000-1 Allocable Charged-Off Amount” shall mean, with respect to any Special Allocation Settlement Report Date, the “Allocable Charged-Off Amount”, if any, that has been allocated to Series 2000-1.
“Series 2000-1 Allocable Recoveries Amount” shall mean, with respect to any Special Allocation Settlement Report Date, the “Allocable Recoveries Amount”, if any, that has been allocated to Series 2000-1.
“Series 2000-1 Allocated Loan Amount” shall mean, on any date of determination, the lower of (i) the Series 2000-1 Target Loan Amount on such day and (ii) the product of (x) the Aggregate Loan Amount on such day times (y) the percentage equivalent of a fraction the numerator of which is the Series 2000-1 Target Loan Amount on such day and the denominator of which is the Aggregate Target Loan Amount on such day.
									
		Annex - 53
	

“Series 2000-1 Amortization Period” shall mean the period commencing on the Business Day following the earlier to occur of (i) the date on which a Series 2000-1 Early Amortization Period is declared to commence or automatically commences and (ii) the Series 2000-1 Commitment Termination Date and ending on the date when the Series 2000-1 Invested Amount shall have been reduced to zero and all Series 2000-1 Accrued Interest and other amounts owing on the Series 2000-1 VFC Certificate and to the Secured Parties under the Transaction Documents shall have been paid.
“Series 2000-1 Applicable Margin” shall mean the per annum rate set forth below based on the higher of the Applicable S&P Rating and the Applicable Moody’s Rating:
						
	

  Rating
	Series 2000-1 Applicable Margin

	A-/A3 or higher
BBB+/Baa1
BBB/Baa2
BBB-/Baa3
BB+/Ba1 or lower
	1.00%
1.125%
1.25%
1.375%
1.625%

“Series 2000-1 Certificate Rate” shall mean on any date of determination, the average (weighted based on the respective outstanding amounts of the Series 2000-1 Floating Tranche, each Series 2000-1 CP Tranche and each Series 2000-1 Eurodollar Tranche) of ABR, the Series 2000-1 CP Rate and LIBOR Rate in effect on such day plus, in each case, the Series 2000-1 Applicable Margin and the Series 2000-1 Excess Margin.
“Series 2000-1 Collection Subaccount” shall have the meaning assigned in subsection 3A.02(a) of the Series 2000-1 Supplement.
“Series 2000-1 Collections” shall mean, with respect to any Business Day, an amount equal to the product of (i) the Series 2000-1 Invested Percentage on such Business Day and (ii) aggregate Collections deposited in the Collection Account on such Business Day.
“Series 2000-1 Commitment Period” shall mean the period commencing on the Series 2000-1 Issuance Date and terminating on the Series 2000-1 Commitment Termination Date.
“Series 2000-1 Commitment Termination Date” shall mean the earliest to occur of (a) the L/C Termination Date, (b) the Liquidity Commitment Expiration Date, (c) an Event of Default or a Default shall have occurred and be continuing or (d) a Series 2000-1 Early Amortization Event or a Potential Series 2000-1 Early Amortization Event shall have occurred and be continuing.
									
		Annex - 54
	

“Series 2000-1 CP Rate” shall mean with respect to any Series 2000-1 CP Rate Period, the rate equivalent to the rate (or if more than one rate, the weighted average of the rates) at which Commercial Paper having a term equal to such Series 2000-1 CP Rate Period may be sold by a Placement Agent or any other placement agent or commercial paper dealer selected by BAFC, plus the amount of any Placement Agent or commercial paper dealer fees and commissions incurred or to be incurred in connection with such sale; provided, however, that if the rate (or rates) as agreed between any such agent or dealer and BAFC is a discount rate, the “Series 2000-1 CP Rate” shall mean the rate equivalent to the rate (or if more than one rate, the weighted average of the rates) resulting from BAFC’s converting such discount rate (or rates) to an interest-bearing equivalent rate per annum.
“Series 2000-1 CP Rate Period” shall mean, with respect to any Series 2000-1 CP Tranche, a period of days not to exceed one hundred and eighty (180) days commencing on a Business Day.  If a Series 2000-1 CP Rate Period would end on a day which is not a Business Day, such Series 2000-1 CP Rate Period shall end on the next succeeding Business Day.
“Series 2000-1 CP Tranche” shall mean a portion of the Series 2000-1 Invested Amount for which the Series 2000-1 Accrued Interest is calculated by reference to a particular Series 2000-1 CP Rate and a particular Series 2000-1 CP Rate Period.
“Series 2000-1 Currency Collection Sub-subaccount” shall have the meaning assigned in subsection 3A.02(a) of the Series 2000-1 Supplement.
“Series 2000-1 Daily Interest Expense” for any day, shall mean the sum of (A) the product of (i) the portion of the Series 2000-1 Invested Amount (calculated without regard to clauses (d) and (e) of the definition of Series 2000-1 Invested Amount) allocable to the Series 2000-1 Floating Tranche on such day divided by 365 and (ii) the ABR plus the sum of the Series 2000-1 Applicable Margin and the Series 2000-1 Excess Margin in effect on such day, 
(B) the product of (i) the portion of the Series 2000-1 Invested Amount (calculated without regard to clauses (d) and (e) of the definition of Series 2000-1 Invested Amount) allocable to each Series 2000-1 Eurodollar Tranche on such day divided by 360 and (ii) the LIBOR Rate applicable to each Series 2000-1 Eurodollar Tranche plus the sum of the Series 2000-1 Applicable Margin and the Series 2000-1 Excess Margin on such day in effect with respect thereto, and (C) the product of (i) the Series 2000-1 Invested Amount (calculated without regard to clauses (d) and (e) of the definition of Series 2000-1 Invested Amount) allocable to Series 2000-1 CP Tranches on such day divided by 360 and (ii) the Series 2000-1 CP Rate allocable to each Series 2000-1 CP Tranche; provided, however, that for any such day during the continuation of a Series 2000-1 Early Amortization Period, the “Series 2000-1 Daily Interest Expense” for such day shall be equal to the greater of (i) the sum of the amounts calculated pursuant to clauses (A), (B) and (C) above and (ii) the product of (x) the Series 2000-1 Invested 
									
		Annex - 55
	

Amount on such day divided by 365 and (y) the ABR in effect on such day plus 2.00% per annum.
“Series 2000-1 Decrease” shall have the meaning assigned in subsection 2.06(a) of the Series 2000-1 Supplement.
“Series 2000-1 Early Amortization Event” shall have the meanings assigned in Section 5.01 of the Series 2000-1 Supplement and Section 7.01 of the Pooling Agreement.
“Series 2000-1 Early Amortization Period” shall have the meanings assigned in Section 5.01 of the Series 2000-1 Supplement and Section 7.01 of the Pooling Agreement.
“Series 2000-1 Eurodollar Tranche” shall mean a portion of the Series 2000-1 Invested Amount for which the Series 2000-1 Accrued Interest is calculated by reference to the LIBOR Rate determined by reference to a particular Interest Period for the related LIBOR Liquidity Loan.
“Series 2000-1 Excess Margin” shall mean for each Series 2000-1 Tranche, a rate per annum as determined from time to time by BAFC and the Company.  
“Series 2000-1 Floating Tranche” shall mean that portion of the Series 2000-1 Invested Amount related to Liquidity Loans for which the Series 2000-1 Accrued Interest is calculated by reference to ABR.
“Series 2000-1 Increase” shall have the meaning assigned in subsection 2.05(a) of the Series 2000-1 Supplement.
“Series 2000-1 Increase Amount” shall have the meaning assigned in subsection 2.05(a) of the Series 2000-1 Supplement.
“Series 2000-1 Increase Date” shall have the meaning assigned in subsection 2.05(a) of the Series 2000-1 Supplement.
“Series 2000-1 Indemnified Amounts” shall have the meaning assigned in subsection 2.08(a) of the Series 2000-1 Supplement.
“Series 2000-1 Indemnified Parties” shall have the meaning assigned in subsection 2.08(a) of the Series 2000-1 Supplement.
“Series 2000-1 Initial Invested Amount” shall mean $0.
“Series 2000-1 Invested Amount” shall mean, as of any date of determination, with respect to the Series 2000-1 Purchaser on the Series 2000-1 Issuance Date, an amount equal to the Series 2000-1 Initial Invested Amount or on any date of determination thereafter, an amount equal to (a) the Series 2000-1 Purchaser’s Series 2000-1 Invested Amount on the 
									
		Annex - 56
	

immediately preceding Business Day plus (b) the amount of any increases in the Series 2000-1 Purchaser’s Series 2000-1 Invested Amount pursuant to Section 2.05 of the Series 2000-1 Supplement made on such day, minus (c) the amount of any distributions received and applied to the Series 2000-1 Purchaser pursuant to Section 2.06 or subsection 3A.05(a)(ii) or subsection 3A.05(b)(ii) of the Series 2000-1 Supplement on such day, minus (d) the aggregate Series 2000-1 Allocable Charged-Off Amount allocable to the Series 2000-1 VFC Beneficial Interest of the Series 2000-1 Purchaser on or prior to such date pursuant to subsection 3A.04(a) of the Series 2000-1 Supplement, plus (e) (but only to the extent of any unreimbursed reductions made pursuant to clause (d) above) the aggregate Series 2000-1 Allocable Recoveries Amount allocable to the Series 2000-1 VFC Beneficial Interest of the Series 2000-1 Purchaser on or prior to such date pursuant to subsection 3A.04(b) of the Series 2000-1 Supplement.
“Series 2000-1 Invested Percentage” shall mean, with respect to any Business Day (i) during the Series 2000-1 Revolving Period, the percentage equivalent of a fraction, the numerator of which is the Series 2000-1 Allocated Loan Amount as of the end of the immediately preceding Business Day and the denominator of which is the greater of (A) the Aggregate Loan Amount as of the end of the immediately preceding Business Day and (B) the sum of the numerators used to calculate the Invested Percentage for all Outstanding Series on the Business Day for which such percentage is determined and (ii) during the Series 2000-1 Amortization Period, the percentage equivalent of a fraction, the numerator of which is the Series 2000-1 Allocated Loan Amount as of the end of the last Business Day of the Series 2000-1 Revolving Period (provided that if during the Series 2000-1 Amortization Period, the amortization periods of all other Outstanding Series which were outstanding prior to the commencement of the Series 2000-1 Amortization Period commence, then, from and after the date the last of such series commences its Amortization Period, the numerator shall be the Series 2000-1 Allocated Loan Amount as of the end of the Business Day preceding such date) and the denominator of which is the greater of (A) the Aggregate Loan Amount as of the end of the immediately preceding Business Day and (B) the sum of the numerators used to calculate the Invested Percentage for all Outstanding Series on the Business Day for which such percentage is determined.
“Series 2000-1 Issuance Date” shall mean August 25, 2000.
“Series 2000-1 Maximum Invested Amount” shall mean, as of any day, the lesser of (i) $600,000,000 and (ii) the Aggregate Liquidity Commitment.
“Series 2000-1 Monthly Servicing Fee” shall have the meaning assigned in Section 6.01 of the Series 2000-1 Supplement
“Series 2000-1 Principal Payment” shall have the meaning assigned in subsection 3A.05 (a)(ii) of the Series 2000-1 Supplement.
									
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“Series 2000-1 Program Costs” shall mean, for any Business Day, the sum of (i) all fees, expenses, indemnities and other amounts due and payable to the Series 2000-1 Purchaser, the Administrative Agent, the Liquidity Banks, the Letter of Credit Agent, the Letter of Credit Banks and the other Secured Parties under the Transaction Documents (including, without limitation, all Collateral Agent Expenses and all Contract Rate Fees), (ii) the product of (A) all unpaid fees and expenses due and payable to counsel to, and independent auditors of, the Company (other than fees and expenses payable on or in connection with the closing of the issuance of the Series 2000-1 VFC Certificate) and (B) the Series 2000-1 Invested Percentage on such Business Day, (iii) all unpaid fees and expenses due and payable to counsel to, and independent auditors of, BAFC (other than fees and expenses payable on or in connection with the closing of the issuance of the Series 2000-1 VFC Certificate) and (iv) all unpaid fees and expenses due and payable to the Series 2000-1 Rating Agencies.
“Series 2000-1 Purchaser” shall mean BAFC, including its successors and assigns.
“Series 2000-1 Rating Agencies” shall mean the collective reference to S&P and Moody’s.
“Series 2000-1 Revolving Period” shall mean the period commencing on the Series 2000-1 Issuance Date and terminating on the earlier to occur of the close of business on (i) the date on which a Series 2000-1 Early Amortization Period is declared to commence or automatically commences and (ii) three (3) Business Days prior to the Series 2000-1 Commitment Termination Date.
“Series 2000-1 Target Loan Amount” shall mean, on any date of determination, the sum of (i) the Series 2000-1 Adjusted Invested Amount on such day plus (ii) the result of (a) Series 20001 Accrued Interest on such day minus (b) the amount on deposit in the Series 2000-1 Collection Subaccount on such day that is unconditionally available to pay such Series 2000-1 Accrued Interest.
“Series 2000-1 Tranche” shall mean any Series 2000-1 CP Tranche, Series 2000-1 Floating Tranche or Series 2000-1 Eurodollar Tranche.
“Series 2000-1 VFC Beneficial Interest” shall mean each percentage interest in the Series 2000-1 VFC Certificate acquired by the Series 2000-1 Purchaser in connection with the initial purchase of such Series 2000-1 VFC Certificate or any Series 2000-1 Increase in the Series 2000-1 Invested Amount.
“Series 2000-1 VFC Certificate” shall mean the Series 2000-1 VFC Certificate executed by the Company and authenticated by or on behalf of the Trustee, substantially in the form of Exhibit A attached to the Series 2000-1 Supplement.
									
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“Series 2000-1 VFC Certificateholder(s)” shall mean the registered holder of the Series 2000-1 VFC Certificate.
“Series 2000-1 VFC Certificateholder’s Interest” shall have the meaning assigned in subsection 2.02(a) of the Series 2000-1 Supplement.
“Series 2002-1” shall mean the Series of Investor Certificates, the Principal Terms of which are set forth in the Series 2002-1 Supplement.
“Series 2002-1 Accrued Interest” shall have the meaning assigned in subsection 3A.03 of the Series 2002-1 Supplement.
“Series 2002-1 Adjusted Invested Amount” shall mean, as of any date of determination, (i) the Series 2002-1 Invested Amount on such date, minus (ii) the amount on deposit in the Series 2002-1 Collection Subaccount on such date that is unconditionally available to reduce the Series 2002-1 Invested Amount up to a maximum of the Series 2002-1 Invested Amount.
“Series 2002-1 Aggregate Unpaids” shall mean, at any time, an amount equal to the sum of (i) the Series 2002-1 Invested Amount and (ii) the Series 2002-1 Accrued Interest.
“Series 2002-1 Allocable Charged-Off Amount” shall mean, with respect to any Special Allocation Settlement Report Date, the “Allocable Charged-Off Amount”, if any, that has been allocated to Series 2002-1.
“Series 2002-1 Allocable Recoveries Amount” shall mean, with respect to any Special Allocation Settlement Report Date, the “Allocable Recoveries Amount”, if any, that has been allocated to Series 2002-1.
“Series 2002-1 Allocated Loan Amount” shall mean, on any date of determination, the lower of (i) the Series 2002-1 Target Loan Amount on such day and (ii) the product of (x) the Aggregate Loan Amount on such day times (y) the percentage equivalent of a fraction the numerator of which is the Series 2002-1 Target Loan Amount on such day and the denominator of which is the Aggregate Target Loan Amount on such day.
“Series 2002-1 Amortization Period” shall mean the period commencing on the Business Day following the date on which a Series 2002-1 Early Amortization Period is declared to commence or automatically commences and ending on the earlier of (a) the date when the Series 2002-1 Invested Amount shall have been reduced to zero and all Series 2002-1 Accrued Interest shall have been paid and (b) the Series 2002-1 Termination Date.
“Series 2002-1 Certificate Rate” shall mean a rate determined from time to time by BLFC which shall at all times be higher than the weighted average cost of funds for BLFC.
									
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“Series 2002-1 Collection Subaccount” shall have the meaning assigned in subsection 3A.02(a) of the Series 2002-1 Supplement.
“Series 2002-1 Collections” shall mean, with respect to any Business Day, an amount equal to the product of (i) the Series 2002-1 Invested Percentage on such Business Day and (ii) aggregate Collections deposited in the Collection Account on such Business Day.
“Series 2002-1 Currency Collection Sub-subaccount” shall have the meaning assigned in subsection 3A.02(a) of the Series 2002-1 Supplement.
“Series 2002-1 Daily Interest Expense” for any day, shall mean the product of (i) the Series 2002-1 Invested Amount (calculated without regard to clauses (d) and (e) of the definition of Series 2002-1 Invested Amount) on such day divided by 360 and (ii) the Series 2002-1 Certificate Rate in effect for such day.
“Series 2002-1 Decrease” shall have the meaning assigned in Section 2.06 of the Series 2002-1 Supplement.
“Series 2002-1 Early Amortization Event” shall have the meanings assigned in Section 5.01 of the Series 2002-1 Supplement and Section 7.01 of the Pooling Agreement.
“Series 2002-1 Early Amortization Period” shall have the meanings assigned in Section 5.01 of the Series 2002-1 Supplement and Section 7.01 of the Pooling Agreement.
“Series 2002-1 Increase” shall have the meaning assigned in subsection 2.05(a) of the Series 2002-1 Supplement.
“Series 2002-1 Increase Amount” shall have the meaning assigned in subsection 2.05(a) of the Series 2002-1 Supplement.
“Series 2002-1 Increase Date” shall have the meaning assigned in subsection 2.05(a) of the Series 2002-1 Supplement.
“Series 2002-1 Initial Invested Amount” shall mean $0.
“Series 2002-1 Invested Amount” shall mean, as of any date of determination, with respect to the Series 2002-1 Purchaser on the Series 2002-1 Issuance Date, an amount equal to the Series 2002-1 Initial Invested Amount or on any date of determination thereafter, an amount equal to (a) the Series 2002-1 Purchaser’s Series 2002-1 Invested Amount on the immediately preceding Business Day plus (b) the amount of any increases in the Series 2002-1 Purchaser’s Series 2002-1 Invested Amount pursuant to Section 2.05 of the Series 2002-1 Supplement made on such day, minus (c) the amount of any distributions received and applied to the Series 2002-1 Purchaser pursuant to subsection 3A.05(a)(ii) or subsection 3A.05(b)(ii) of the Series 2002-1 Supplement on such day, minus (d) the aggregate Series 2002-1 Allocable 
									
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Charged-Off Amount allocable to the Series 2002-1 VFC Beneficial Interest of the Series 2002-1 Purchaser on or prior to such date pursuant to subsection 3A.04(a) of the Series 2002-1 Supplement, plus (e) (but only to the extent of any unreimbursed reductions made pursuant to clause (d) above) the aggregate Series 2002-1 Allocable Recoveries Amount allocable to the Series 2002-1 VFC Beneficial Interest of the Series 2002-1 Purchaser on or prior to such date pursuant to subsection 3A.04(b) of the Series 2002-1 Supplement.
“Series 2002-1 Invested Percentage” shall mean, with respect to any Business Day (i) during the Series 2002-1 Revolving Period, the percentage equivalent of a fraction, the numerator of which is the Series 2002-1 Allocated Loan Amount as of the end of the immediately preceding Business Day and the denominator of which is the greater of (A) the Aggregate Loan Amount as of the end of the immediately preceding Business Day and (B) the sum of the numerators used to calculate the Invested Percentage for all Outstanding Series on the Business Day for which such percentage is determined and (ii) during the Series 2002-1 Amortization Period, the percentage equivalent of a fraction, the numerator of which is the Series 2002-1 Allocated Loan Amount as of the end of the last Business Day of the Series 2002-1 Revolving Period (provided that if during the Series 2002-1 Amortization Period, the amortization periods of all other Outstanding Series which were outstanding prior to the commencement of the Series 2002-1 Amortization Period commence, then, from and after the date the last of such series commences its Amortization Period, the numerator shall be the Series 2002-1 Allocated Loan Amount as of the end of the Business Day preceding such date) and the denominator of which is the greater of (A) the Aggregate Loan Amount as of the end of the immediately preceding Business Day and (B) the sum of the numerators used to calculate the Invested Percentage for all Outstanding Series on the Business Day for which such percentage is determined.
“Series 2002-1 Issuance Date” shall mean February 26, 2002.
“Series 2002-1 Maximum Invested Amount” shall mean, as of any day, $12,000,000,000, calculated by converting Approved Currencies other than Dollars into Dollars at the Rate of Exchange.
“Series 2002-1 Monthly Servicing Fee” shall have the meaning assigned in Section 6.01 of the Series 2002-1 Supplement
“Series 2002-1 Principal Payment” shall have the meaning assigned in subsection 3A.05 (a)(ii) of the Series 2002-1 Supplement.
“Series 2002-1 Purchaser” shall mean BLFC, including its successors and assigns.
“Series 2002-1 Revolving Period” shall mean the period commencing on the Series 2002-1 Issuance Date and terminating on the close of business on the date on which a Series 2002-1 Early Amortization Period is declared to commence or automatically commences.
									
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“Series 2002-1 Target Loan Amount” shall mean, on any date of determination, the sum of (i) the Series 2002-1 Adjusted Invested Amount on such day plus (ii) the result of (a) Series 2002-1 Accrued Interest on such day minus (b) the amount on deposit in the Series 2002-1 Collection Subaccount on such day that is unconditionally available to pay such Series 2002-1 Accrued Interest.
“Series 2002-1 Termination Date” shall mean the date that occurs one hundred and eighty (180) days after the last day of the Series 2002-1 Revolving Period.
“Series 2002-1 VFC Beneficial Interest” shall mean each percentage interest in the Series 2002-1 VFC Certificate acquired by the Series 2002-1 Purchaser in connection with the initial purchase of such Series 2002-1 VFC Certificate or any Series 2002-1 Increase in the Series 2002-1 Invested Amount.
“Series 2002-1 VFC Certificate” shall mean the Series 2002-1 VFC Certificate executed by the Company and authenticated by or on behalf of the Trustee, substantially in the form of Exhibit A attached to the Series 2002-1 Supplement.
“Series 2002-1 VFC Certificateholder(s)” shall mean the registered holder of the Series 2002-1 VFC Certificate.
“Series 2002-1 VFC Certificateholder’s Interest” shall have the meaning assigned in subsection 2.02(a) of the Series 2002-1 Supplement.
“Series 2003-1” shall mean the Series of Investor Certificates, the Principal Terms of which are set forth in the Series 2003-1 Supplement.
“Series 2003-1 Accrued Interest” shall have the meaning assigned in subsection 3A.03 of the Series 2003-1 Supplement.
“Series 2003-1 Adjusted Invested Amount” shall mean, as of any date of determination, (i) the Series 2003-1 Invested Amount on such date, minus (ii) the amount on deposit in the Series 2003-1 Collection Subaccount on such date that is available to reduce the Series 2003-1 Invested Amount up to a maximum of the Series 2003-1 Invested Amount.
“Series 2003-1 Aggregate Unpaids” shall mean, at any time, an amount equal to the sum of (i) the Series 2003-1 Invested Amount and (ii) the Series 2003-1 Accrued Interest.
“Series 2003-1 Allocable Charged-Off Amount” shall mean, with respect to any Special Allocation Settlement Report Date, the “Allocable Charged-Off Amount”, if any, that has been allocated to Series 2003-1.
									
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“Series 2003-1 Allocable Recoveries Amount” shall mean, with respect to any Special Allocation Settlement Report Date, the “Allocable Recoveries Amount”, if any, that has been allocated to Series 2003-1.
“Series 2003-1 Allocated Loan Amount” shall mean, on any date of determination, the lower of (i) the Series 2003-1 Target Loan Amount on such day and (ii) the product of (x) the Aggregate Loan Amount on such day times (y) the percentage equivalent of a fraction the numerator of which is the Series 2003-1 Target Loan Amount on such day and the denominator of which is the Aggregate Target Loan Amount on such day.
“Series 2003-1 Amortization Period” shall mean the period commencing on the Business Day following the date on which a Series 2003-1 Early Amortization Period is declared to commence or automatically commences and ending on the earlier of (a) the date when the Series 2003-1 Invested Amount shall have been reduced to zero and all Series 2003-1 Accrued Interest shall have been paid and (b) the Series 2003-1 Termination Date.
“Series 2003-1 Certificate Rate” shall mean a rate determined from time to time by BFE which shall at all times be higher than the weighted average cost of funds for BFE.
“Series 2003-1 Collection Subaccount” shall have the meaning assigned in subsection 3A.02(a) of the Series 2003-1 Supplement.
“Series 2003-1 Collections” shall mean, with respect to any Business Day, an amount equal to the product of (i) the Series 2003-1 Invested Percentage on such Business Day and (ii) aggregate Collections deposited in the Collection Account on such Business Day.
“Series 2003-1 Currency Collection Sub-subaccount” shall have the meaning assigned in subsection 3A.02(a) of the Series 2003-1 Supplement.
“Series 2003-1 Daily Interest Expense” for any day, shall mean the product of (i) the Series 2003-1 Invested Amount (calculated without regard to clauses (d) and (e) of the definition of Series 2003-1 Invested Amount) on such day divided by 360 and (ii) the Series 2003-1 Certificate Rate in effect for such day.
“Series 2003-1 Decrease” shall have the meaning assigned in Section 2.06 of the Series 2003-1 Supplement.
“Series 2003-1 Early Amortization Event” shall have the meanings assigned in Section 5.01 of the Series 2003-1 Supplement and Section 7.01 of the Pooling Agreement.
“Series 2003-1 Early Amortization Period” shall have the meanings assigned in Section 5.01 of the Series 2003-1 Supplement and Section 7.01 of the Pooling Agreement.
									
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“Series 2003-1 Increase” shall have the meaning assigned in subsection 2.05(a) of the Series 2003-1 Supplement.
“Series 2003-1 Increase Amount” shall have the meaning assigned in subsection 2.05(a) of the Series 2003-1 Supplement.
“Series 2003-1 Increase Date” shall have the meaning assigned in subsection 2.05(a) of the Series 2003-1 Supplement.
“Series 2003-1 Initial Invested Amount” shall mean $0.
“Series 2003-1 Invested Amount” shall mean, as of any date of determination, with respect to the Series 2003-1 Purchaser on the Series 2003-1 Issuance Date, an amount equal to the Series 2003-1 Initial Invested Amount or on any date of determination thereafter, an amount equal to (a) the Series 2003-1 Purchaser’s Series 2003-1 Invested Amount on the immediately preceding Business Day plus (b) the amount of any increases in the Series 2003-1 Purchaser’s Series 2003-1 Invested Amount pursuant to Section 2.05 of the Series 2003-1 Supplement made on such day, minus (c) the amount of any distributions received and applied to the Series 2003-1 Purchaser pursuant to subsection 3A.05(a)(ii) or subsection 3A.05(b)(ii) of the Series 2003-1 Supplement on such day, minus (d) the aggregate Series 2003-1 Allocable Charged-Off Amount allocable to the Series 2003-1 VFC Beneficial Interest of the Series 2003-1 Purchaser on or prior to such date pursuant to subsection 3A.04(a) of the Series 2003-1 Supplement, plus (e) (but only to the extent of any unreimbursed reductions made pursuant to clause (d) above) the aggregate Series 2003-1 Allocable Recoveries Amount allocable to the Series 2003-1 VFC Beneficial Interest of the Series 2003-1 Purchaser on or prior to such date pursuant to subsection 3A.04(b) of the Series 2003-1 Supplement.
“Series 2003-1 Invested Percentage” shall mean, with respect to any Business Day (i) during the Series 2003-1 Revolving Period, the percentage equivalent of a fraction, the numerator of which is the Series 2003-1 Allocated Loan Amount as of the end of the immediately preceding Business Day and the denominator of which is the greater of (A) the Aggregate Loan Amount as of the end of the immediately preceding Business Day and (B) the sum of the numerators used to calculate the Invested Percentage for all Outstanding Series on the Business Day for which such percentage is determined and (ii) during the Series 2003-1 Amortization Period, the percentage equivalent of a fraction, the numerator of which is the Series 2003-1 Allocated Loan Amount as of the end of the last Business Day of the Series 2003-1 Revolving Period (provided that if during the Series 2003-1 Amortization Period, the amortization periods of all other Outstanding Series which were outstanding prior to the commencement of the Series 2003-1 Amortization Period commence, then, from and after the date the last of such series commences its Amortization Period, the numerator shall be the Series 2003-1 Allocated Loan Amount as of the end of the Business Day preceding such date) and the denominator of which is the greater of (A) the Aggregate Loan Amount as of the end of the immediately preceding Business Day and (B) the sum of the numerators used to calculate the 
									
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Invested Percentage for all Outstanding Series on the Business Day for which such percentage is determined.
“Series 2003-1 Issuance Date” shall mean May 1, 2003.
“Series 2003-1 Maximum Invested Amount” shall mean, as of any day, $3,500,000,000, calculated by converting Approved Currencies other than Dollars into Dollars at the Rate of Exchange.
“Series 2003-1 Monthly Servicing Fee” shall have the meaning assigned in Section 6.01 of the Series 2003-1 Supplement
“Series 2003-1 Principal Payment” shall have the meaning assigned in subsection 3A.05 (a)(ii) of the Series 2003-1 Supplement.
“Series 2003-1 Purchaser” shall mean BFE, including its successors and assigns.
“Series 2003-1 Revolving Period” shall mean the period commencing on the Series 2003-1 Issuance Date and terminating on the close of business on the date on which a Series 2003-1 Early Amortization Period is declared to commence or automatically commences.
“Series 2003-1 Target Loan Amount” shall mean, on any date of determination, the sum of (i) the Series 2003-1 Adjusted Invested Amount on such day plus (ii) the result of (a) Series 2003-1 Accrued Interest on such day minus (b) the amount on deposit in the Series 2003-1 Collection Subaccount on such day that is available to pay such Series 2003-1 Accrued Interest.
“Series 2003-1 Termination Date” shall mean the date that occurs one hundred and eighty (180) days after the last day of the Series 2003-1 Revolving Period.
“Series 2003-1 VFC Beneficial Interest” shall mean each percentage interest in the Series 2003-1 VFC Certificate acquired by the Series 2003-1 Purchaser in connection with the initial purchase of such Series 2003-1 VFC Certificate or any Series 2003-1 Increase in the Series 2003-1 Invested Amount.
“Series 2003-1 VFC Certificate” shall mean the First Amended and Restated Series 2003-1 VFC Certificate executed by the Company and authenticated by or on behalf of the Trustee, substantially in the form of Exhibit A attached to the Series 2003-1 Supplement.
“Series 2003-1 VFC Certificateholder(s)” shall mean the registered holder of the Series 2003-1 VFC Certificate.
“Series 2003-1 VFC Certificateholder’s Interest” shall have the meaning assigned in subsection 2.02(a) of the Series 2003-1 Supplement.
									
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“Series Account” shall mean any deposit, trust, escrow, reserve or similar account maintained for the benefit of the Investor Certificateholders of any Series or Class, as specified in any Supplement.
“Series Collection Subaccount” shall have the meaning assigned in subsection 3.01(a) of the Pooling Agreement.
“Series Collection Sub-subaccount” shall have the meaning assigned in subsection 3.01(a) of the Pooling Agreement.
“Series Currency Collection Sub-subaccount” shall have the meaning assigned in subsection 3.01(a) of the Pooling Agreement.
“Series Non-Principal Collection Sub-subaccount” shall have the meaning assigned in subsection 3.01(a) of the Pooling Agreement.
“Series Principal Collection Subsubaccount” shall have the meaning assigned in subsection 3.01(a) of the Pooling Agreement.
“Series Termination Date” shall mean (i) for Series 2002-1, the Series 2002-1 Termination Date, (ii) for Series 2003-1, the Series 2003-1 Termination Date and (iii) for any other Series, the meaning assigned in the related Supplement for such Series.
“Service Transfer” shall have the meaning assigned in Section 6.01 of the Servicing Agreement.
“Servicer” shall mean Bunge Management Services, Inc. and any Successor Servicer under the Transaction Documents.
“Servicer Default” shall have, with respect to any Series, the meaning assigned in Section 6.01 of the Servicing Agreement and, if applicable, as supplemented by the related Supplement for such Series.
“Servicer Indemnification Event” shall have the meaning assigned in subsection 5.02(b) of the Servicing Agreement. 
“Servicer Indemnified Person” shall have the meaning assigned in subsection 5.02(a) of the Servicing Agreement.
“Servicer’s Certificate” means a certificate delivered by the Servicer to the Administrative Agent and the Collateral Agent which (a) notifies the Administrative Agent of the amount of any Loans which became Defaulted Loans as of the most recent Daily Report, pursuant to which the Administrative Agent shall either draw on the Letter of Credit or request the Collateral Agent to withdraw amounts deposited in the Reserve Account in an amount equal 
									
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to the lesser of (i) the amount of the aggregate outstanding principal amount of such Defaulted Loans plus accrued interest thereon to and including the day prior to the day such Loans became Defaulted Loans and (ii) the Letter of Credit Amount or the amount on deposit in the Reserve Account, as applicable, (b) verifies the Letter of Credit Amount, and (c) instructs the Collateral Agent to reimburse the Letter of Credit Agent for the amount of such draw and any other amounts due in connection with such draw.
“Servicing Agreement” shall mean the Third Amended and Restated Servicing Agreement, dated as of December 23, 2003, among the Company, the Servicer and the Trustee, as such agreement may be amended, supplemented or otherwise modified and in effect from time to time.
“Servicing Fee” shall have the meaning assigned in subsection 2.05(a) of the Servicing Agreement.
“Settlement Period” shall mean each calendar month.
“Settlement Report Date” shall mean, except as otherwise set forth in the applicable Supplement, the 10th day of each calendar month or, if such 10th day is not a Business Day, the next succeeding Business Day.
“Single Employer Plan” means a single employer plan, as defined in Section 4001(a)(15) of ERISA, that (a) is maintained for employees of the Guarantor or any ERISA Affiliate and no Person other than the Guarantor and the ERISA Affiliates or for which the Guarantor or any of its ERISA Affiliates could incur liability or (b) was so maintained and in respect of which the Guarantor or any ERISA Affiliate has liability, whether direct or contingent, under Section 4069 of ERISA in the event such plan has been or were to be terminated.
“Solicitation Fee” shall mean a fee payable to Bunge Finance and Bunge Finance North America as set forth in each Supplement in an amount agreed upon from time to time by Bunge Finance or Bunge Finance North America, as applicable, and the Company; provided, that the Solicitation Fee shall at all times be less than the difference of (i) the aggregate amount of interest (or discount) that has accrued on all outstanding Loans during the immediately preceding Settlement Period minus (ii) the sum of all interest and Program Costs for all Outstanding Series that have accrued during the immediately preceding Settlement Period.
“Solvent” and “Solvency” shall mean, with respect to any Person on a particular date, that on such date (a) the fair value of the property of such Person is greater than the total amount of liabilities, including, without limitation, contingent liabilities, of such Person, (b) the present fair salable value of the assets of such Person is not less than the amount that will be required to pay the probable liability of such Person on its debts as they become absolute and matured, (c) such Person does not intend to, and does not believe that it will, incur debts or liabilities beyond such Person’s ability to pay such debts and liabilities as they mature and (d) 
									
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such Person is not engaged in business or a transaction, and is not about to engage in business or a transaction, for which such Person’s property would constitute an unreasonably small capital.  The amount of contingent liabilities at any time shall be computed as the amount that, in the light of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability.
“Specified Bankruptcy Opinion Provisions” shall mean the factual assumptions (including those contained in the factual certificates referred to therein) and the actions to be taken by the Sellers or the Company in the legal opinion of Winston & Strawn relating to certain bankruptcy matters delivered on each Issuance Date.
“Special Allocation Settlement Report Date” shall have the meaning assigned in subsection 3.01(e) of the Pooling Agreement.
“Special Payment Account” has the meaning assigned to such term in Section 3(b) of the Depositary Agreement.
“State/Local Government Obligor” shall mean any state of the United States or local government thereof or any subdivision thereof or any agency, department, or instrumentality thereof.
“Statutory Reserve Rate" means a fraction (expressed as a decimal), the numerator of which is the number one and the denominator of which is the number one minus the aggregate of the maximum reserve percentages (including any marginal, special, emergency or supplemental reserves) expressed as a decimal established by the Federal Reserve Board to which the Administrative Agent is subject with respect to the Adjusted LIBOR Rate for eurocurrency funding (currently referred to as "Eurocurrency liabilities" in Regulation D).  Such reserve percentages shall include those imposed pursuant to such Regulation D.  LIBOR Liquidity Loans shall be deemed to constitute eurocurrency funding and to be subject to such reserve requirements without benefit of or credit for proration, exemptions or offsets that may be available from time to time to any Liquidity Bank under such Regulation D or any comparable regulation.  The Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any change in any reserve percentage.
“Sterling” shall mean the lawful currency of the United Kingdom of Great Britain and Northern Ireland.
“Subordination Debt” shall have the meaning assigned to such term in the Subordinated Agreement.
“Subordination Agreement” shall mean the Third Amended and Restated Subordination Agreement, dated as of June 28, 2004, among the Guarantor, the Collateral Agent and the Trustee, as such agreement may be amended, supplemented or otherwise modified and in effect from time to time.
									
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“Subsidiary” shall mean, as to any Person, a corporation, partnership or other entity of which shares of stock or other ownership interests having ordinary voting power (other than stock or such other ownership interests having such power only by reason of the happening of a contingency) to elect a majority of the board of directors or other managers of such corporation, partnership or other entity are at the time owned directly or indirectly through one or more intermediaries, or both, by such Person.
“Successor Servicer” shall have the meaning assigned in Section 6.02 of the Servicing Agreement.
“Supplement” shall mean, with respect to any Series, a supplement to the Pooling Agreement complying with the terms of the Pooling Agreement, executed by the Company, the Servicer, the Trustee and other parties listed therein in conjunction with the issuance of any Series.
“Syndication Agent” shall mean Citibank, N.A. in its capacity as the Syndication Agent under the Liquidity Agreement, together with any successors and permitted assigns.
“Target Loan Amount” shall have, with respect to any Outstanding Series, the meaning specified in the related Supplement for such Outstanding Series.
“Tax Opinion” shall mean, unless otherwise specified in the Supplement for any Series with respect to such Series or any Class within such Series, with respect to any action, an Opinion of Counsel of one or more outside law firms to the effect that, for United States federal income tax purposes, (i) such action will not adversely affect the characterization as debt of any Investor Certificates of any Outstanding Series or Class not retained by the Company, (ii) in the case of Section 5.10 of the Pooling Agreement, the Investor Certificates of the new Series that are not retained by the Company will be characterized as debt and (iii) the Trust will be disregarded as an entity separate from the Company for U.S. federal income tax purposes.
“Taxes” shall mean all present or future income, stamp or other taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto.
“Termination Notice” shall have the meaning assigned in Section 6.01 of the Servicing Agreement.
“Total Tangible Assets” shall mean at any date of determination, the total amount of assets of the Guarantor and its Subsidiaries (without duplication and excluding any asset owned by the Guarantor or any Subsidiary that represents an obligation of the Guarantor or any other Subsidiary to such Subsidiary or Guarantor) after deducting therefrom all goodwill, trade names, trademarks, patents, licenses, copyrights and other intangible assets.
									
		Annex - 69
	

“Transaction Documents” shall mean the collective reference to the Pooling Agreement, the Servicing Agreement, each Supplement with respect to any Outstanding Series, the Sale Agreement, the Guaranty, the Subordination Agreement, the Investor Certificates, the Commercial Paper Program Documents and any other documents delivered pursuant to or in connection therewith.
“Transactions” shall mean the transactions contemplated under each of the Transaction Documents.
“Transfer Agent and Registrar” shall have the meaning assigned in Section 5.03 of the Pooling Agreement and shall initially be the Trustee.
“Transfer Deposit Amount” shall have the meaning assigned in subsection 2.05(b) of the Pooling Agreement.
“Transferred Agreements” shall have the meaning assigned in subsection 2.01(a)(v) of the Pooling Agreement.
“Trust” shall mean the Bunge Master Trust created by the Pooling Agreement.
“Trust Accounts” shall mean the trust accounts established under the Supplements.
“Trust Assets” shall have the meaning assigned in subsection 2.01(a) of the Pooling Agreement.
“Trust Termination Date” shall have the meaning assigned in subsection 9.01(a) of the Pooling Agreement.
“Trustee” shall mean the institution executing the Pooling Agreement as trustee, or its successor in interest, or any successor trustee appointed as therein provided.
“Trustee Force Majeure Delay” shall mean any cause or event that is beyond the control and not due to the gross negligence of the Trustee that delays, prevents or prohibits the Trustee’s performance of its duties under Article III of the Pooling Agreement, including acts of God, floods, fire, explosions of any kind, snowstorms and other irregular weather conditions, unanticipated employee absenteeism, mass transportation disruptions, any power failure, telephone failure or computer failure in the office of the Trustee, including without limitation, failure of the bank wire system utilized by the Trustee or any similar system or failure of the Fed Wire system operated by any applicable Federal Reserve Bank and all similar events.  The Trustee shall notify the Company as soon as reasonably possible after the beginning of any such delay.
									
		Annex - 70
	

“Trustee Liens” shall mean any Liens in or on the Trust Assets created by the Trustee in the Pooling Agreement and any Supplement.
“UCC” shall mean the Uniform Commercial Code, as amended, replaced or otherwise revised from time to time, as in effect in any specified jurisdiction.
“United States” for purposes of geographic description shall mean the United States of America (including the States and the District of Columbia), its territories, its possessions (including Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, Wake Island and the Northern Mariana Islands) and other areas subject to its jurisdictions.
“United States Person” means an individual who is a citizen or resident of the United States, or a corporation, partnership or other entity created or organized in or under the laws of the United States or any political subdivision thereof, or an estate or trust the income of which is subject to U.S. federal income taxation regardless of its source.
“Unpaid Holder” and “Unpaid Holders” collectively means a holder or holders of not less than fifty-one percent (51%) of the aggregate Face Amount of outstanding Commercial Paper matured and not yet matured.
“Unused Fee Rate” shall mean the per annum rate set forth below based on the higher of the Applicable S&P Rating and the Applicable Moody’s Rating:
									
	Rating		Unused Fee Rate
	A-/A3 or higher
BBB+/Baa1
BBB/Baa2
BBB-/Baa3
BB+/Ba1 or lower 
		0.09%
0.10%
0.125%
0.175%
0.225%

“Variable Funding Certificate” or “VFC Certificate” shall have the meaning assigned in Section 5.10 of the Pooling Agreement.
“Voting Stock” of any Person as of any date means the Capital Stock of such Person that is at the time entitled to vote in the election of the Board of Directors of such Person.
“Withdrawal Liability” shall mean liability to a Multiemployer Plan as a result of a complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Title IV of ERISA.
“Withholding Agent” shall mean BAFC and, in the case of the Liquidity Agreement, the Administrative Agent, and in the case of the Letter of Credit Reimbursement Agreement, the Letter of Credit Agent.
									
		Annex - 71
	

“Write-Down and Conversion Powers” shall mean with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which writedown and conversion powers are described in the EU Bail-In Legislation Schedule.

“Yen” shall mean the lawful currency of Japan.

									
		Annex - 72
	

Schedule I
DESIGNATED OBLIGORS

Bunge Limited
Bunge Global Markets Inc.
Bunge N.A. Holdings, Inc.
Bunge North America, Inc.
Koninklijke Bunge B.V.
Bunge Argentina S.A.
Bunge S.A.
Bunge Alimentos S.A.
Bunge Fertilizantes S.A. (Brazil)
Bunge International Commerce Ltd. 
Bunge Trade Limited (successor to Bunge Fertilizantes International Limited)
						
	SI - 1

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