Document:

EX-4.14

 Exhibit 4.14 

EXECUTION VERSION 
 REVOLVING SENIOR
SECURED CREDIT FACILITY 
 AGREEMENT 

19 SEPTEMBER 2017 

For 
 GOLD FIELDS LA
CIMA S.A. 
 with 

BANCO DE CRÉDITO DEL PERÚ 

acting as Agent 
 BANCO
DE CRÉDITO DEL PERÚ 
 acting as Onshore Security Agent 

SCOTIABANK EUROPE PLC 

acting as Offshore Security Agent 

U.S.$150,000,000 
  

 
 Allen & Overy LLP 

 CONTENTS 
  

							
	Clause	 	 	  	Page	 
	1.	 	 Definitions and interpretation
	  	 	1	 
	2.	 	 The Facility
	  	 	17	 
	3.	 	 Purpose
	  	 	19	 
	4.	 	 Conditions of Utilisation
	  	 	19	 
	5.	 	 Utilisation
	  	 	20	 
	6.	 	 Repayment
	  	 	21	 
	7.	 	 Prepayment and Cancellation
	  	 	23	 
	8.	 	 Interest
	  	 	26	 
	9.	 	 Interest Periods
	  	 	27	 
	10.	 	 Changes to the Calculation of Interest
	  	 	27	 
	11.	 	 Fees
	  	 	29	 
	12.	 	 Tax Gross-Up and Indemnities
	  	 	29	 
	13.	 	 Increased Costs
	  	 	34	 
	14.	 	 Other Indemnities
	  	 	35	 
	15.	 	 Mitigation by the Lenders
	  	 	37	 
	16.	 	 Costs and Expenses
	  	 	37	 
	17.	 	 Guarantee and indemnity
	  	 	38	 
	18.	 	 Representations
	  	 	41	 
	19.	 	 Information Undertakings
	  	 	45	 
	20.	 	 Financial Covenants
	  	 	49	 
	21.	 	 General Undertakings
	  	 	52	 
	22.	 	 Events of Default
	  	 	59	 
	23.	 	 Changes to the Lenders
	  	 	63	 
	24.	 	 Changes to the Obligors
	  	 	68	 
	25.	 	 Role of the Agent, the Security Agent, the Arranger and the Reference Banks
	  	 	70	 
	26.	 	 Conduct of business by the Finance Parties
	  	 	79	 
	27.	 	 Sharing among the Finance Parties
	  	 	79	 
	28.	 	 Payment Mechanics
	  	 	80	 
	29.	 	 Set-off
	  	 	84	 
	30.	 	 Notices
	  	 	85	 
	31.	 	 Calculations and Certificates
	  	 	87	 
	32.	 	 Partial Invalidity
	  	 	87	 
	33.	 	 Remedies and Waivers
	  	 	87	 
	34.	 	 Amendments and Waivers
	  	 	87	 
	35.	 	 Confidential Information
	  	 	90	 
	36.	 	 Confidentiality of Funding Rates and Reference Bank Quotations
	  	 	94	 
	37.	 	 Counterparts
	  	 	95	 
	38.	 	 Governing Law
	  	 	95	 
	39.	 	 Enforcement
	  	 	96	 

									
	Schedule	  	 	  	Page	 
	1.	  	The Original Lenders	  	 	97	 
	2.	  	Conditions Precedent	  	 	98	 
		  	Part 1	  	Conditions Precedent to Initial Utilisation	  	 	98	 
		  	Part 2	  	Conditions precedent required to be delivered by an Additional Obligor	  	 	101	 
	3.	  	Utilisation Request	  	 	103	 
	4.	  	Form of Transfer Certificate	  	 	104	 
	5.	  	Form of Assignment Agreement	  	 	106	 
	6.	  	Form of Accession Letter	  	 	109	 
	7.	  	Form of Resignation Letter	  	 	110	 
	8.	  	Security Agency Provisions	  	 	111	 
	9.	  	Form of Compliance Certificate	  	 	115	 
	10.	  	Existing Security/Quasi-Security	  	 	117	 
	11.	  	Timetables	  	 	118	 
	12.	  	Form of Increase Confirmation	  	 	119	 
	13.	  	Permitted Transferee List	  	 	121	 
	14.	  	Form of Promissory Note	  	 	123	 
	15.	  	Form of Agreement Regarding Completion of Note	  	 	125	 
	16.	  	Form of Compliance Certificate of Investments	  	 	127	 
			
	Signatories	  		  	 	128	 

  

 THIS AGREEMENT is dated 19 September 2017 and made 

BETWEEN: 
  

	(1)	 GOLD FIELDS LA CIMA S.A., a sociedad anónima incorporated and existent under
the laws of Peru, with Taxpayer’s I.D. (RUC) 20507828915 and with its principal place of business at Av. El Derby N°055, Torre 1, Piso 3, Oficina 301, Urbanización Lima Polo and Hunt Club, District of Santiago de Surco,
Province and Department of Lima (the Company); 

  

	(2)	 GOLD FIELDS LA CIMA S.A., a sociedad anónima incorporated and existent under
the laws of Peru, with Taxpayer’s I.D. (RUC) 20507828915 and with its principal place of business at Av. El Derby N°055, Torre 1, Piso 3, Oficina 301, Urbanización Lima Polo and Hunt Club, District of Santiago de Surco,
Province and Department of Lima (the Original Borrower); 

  

	(3)	 GOLD FIELDS LA CIMA S.A., a sociedad anónima incorporated and existent under
the laws of Peru, with Taxpayer’s I.D. (RUC) 20507828915 and with its principal place of business at Av. El Derby N°055, Torre 1, Piso 3, Oficina 301, Urbanización Lima Polo and Hunt Club, District of Santiago de Surco,
Province and Department of Lima (the Original Guarantor); 

  

	(4)	 THE FINANCIAL INSTITUTIONS listed in Schedule 1 (The Original Lenders) as lenders (the Original
Lenders); 

  

	(5)	 BANCO DE CRÉDITO DEL PERÚ as agent of the other Finance Parties (the Agent);

  

	(6)	 BANCO DE CRÉDITO DEL PERÚ as onshore security agent for the Finance Parties (the
Onshore Security Agent); and 

  

	(7)	 SCOTIABANK EUROPE PLC as offshore security agent for the Finance Parties (the Offshore Security Agent
and, together with the Onshore Security Agent, the Security Agent). 

 IT IS AGREED as follows: 

 

	1.	 DEFINITIONS AND INTERPRETATION 

 

	1.1	 Definitions 

In this Agreement:  

Acceptable Bank means: 
  

	 	(a)	 a bank or financial institution which has a rating for its long-term unsecured and non credit-enhanced debt
obligations of BBB or higher by Standard & Poor’s Rating Services or Fitch Ratings Ltd or Baa2 or higher by Moody’s Investors Services Limited or a comparable rating from an internationally recognised credit rating agency; or

  

	 	(b)	 any other bank or financial institution approved by the Agent. 

Accession Letter means a document substantially in the form set out in Schedule 6 (Form of Accession Letter). 

Additional Borrower means a company which becomes an Additional Borrower in accordance with Clause 24 (Changes to the Obligors).

  
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 Additional Guarantor means a company which becomes an Additional Guarantor in
accordance with Clause 24 (Changes to the Obligors). 
 Additional Obligor means an Additional Borrower or an Additional
Guarantor. 
 Affiliate means, in relation to any person, a Subsidiary of that person or a Holding Company of that person or
any other Subsidiary of that Holding Company. 
 Agreement Regarding Completion of Note means each agreement containing the
instructions to complete each Promissory Note (Acuerdo de Llenado de Pagaré), substantially in the form set out in Schedule 15 (Form of Agreement Regarding Completion of Note) to be executed between the Original Borrower or an
Additional Borrower, as applicable, and the respective Lender. 
 Anti-Corruption Laws means: 

 

	 	(a)	 the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions,
1997 (the OECD Convention); 

  

	 	(b)	 the US Foreign Corrupt Practices Act of 1977 (as amended by the Foreign Corrupt Practices Act Amendments of
1988 and 1998, and as may be further amended and supplemented from time to time) or the rules and regulations thereunder (the FCPA); 

  

	 	(c)	 the Bribery Act 2010; 

 

	 	(d)	 the following South African laws: 

 

	 	(i)	 the South African Prevention and Combating of Corrupt Activities Act, 2004; 

 

	 	(ii)	 the South African Prevention of Organised Crime Act 1998; and 

 

	 	(iii)	 the South African Protection of Constitutional Democracy Against Terrorist Related Activities Act, 2004; and

  

	 	(e)	 the Peruvian penal code (código penal) and Law 30424, and any regulations that may supplement or
substitute any of the above, or any other Applicable Law that may be enacted in Peru, and other applicable law in any applicable jurisdiction (including any (i) statute, ordinance, rule or regulation; (ii) order of any court, tribunal or
any other judicial body; and (iii) rule, regulation, guideline or order of any public body, or any other administrative requirement) which: 

  

	 	(i)	 prohibits the conferring of any gift, payment or other benefit on any person or any officer, employee, agent or
adviser of such person; and/or 

  

	 	(ii)	 is broadly equivalent to the FCPA and/or the Bribery Act 2010 or was intended to enact the provisions of the
OECD Convention or which has as its objective the prevention of corruption. 

 Applicable Law means with respect to
any Party: 
  

	 	(a)	 any domestic statute, law, treaty, code, ordinance, rule, regulation, restriction or by-law; 

  

	 	(b)	 any judgment, order, writ, injunction, decision, ruling, decree or award; 

 

	 	(c)	 any regulatory policy, practice, request, guideline or directive; or 

  
 2 

	 	(d)	 any franchise, licence, qualification, authorisation, consent, exemption, waiver, right, permit or other
approval of any Governmental Authority; applicable to, binding on or affecting such Party or its property in the context in which the term is used herein, in each case whether or not having the force of law (but, if not having the force of law, only
to the extent that those subject to it generally comply with it). 

 Arranger means Credicorp Capital Servicios
Financieros S.A., as mandated lead arranger for the Facility. 
 Assignment Agreement means an agreement substantially in the
form set out in Schedule 5 (Form of Assignment Agreement) or any other form agreed between the relevant assignor and assignee. 

Authorisation means an authorisation, consent, approval, resolution, licence, exemption, filing, notarisation or registration.

 Availability Period means the period from and including the date of this Agreement to and including the Business Day falling
one month before the Termination Date. 
 Available Commitment means a Lender’s Commitment minus: 

 

	 	(a)	 the amount of its participation in any outstanding Loans; and 

 

	 	(b)	 in relation to any proposed Utilisation, the amount of its participation in any Loans that are due to be made
on or before the proposed Utilisation Date, 

 other than that Lender’s participation in any Loans that are due to be
repaid or prepaid on or before the proposed Utilisation Date. 
 Available Facility means the aggregate for the time being of each
Lender’s Available Commitment. 
 Borrower means the Original Borrower or an Additional Borrower. 

Business Day means a day (other than a Saturday or Sunday) on which banks are open for general business in London, Lima and New
York City. 
 Code means the US Internal Revenue Code of 1986. 

Commitment means: 
  

	 	(a)	 in relation to an Original Lender, the amount in U.S. dollars set opposite its name under the heading
‘‘Commitment’’ in Schedule 1 (The Original Lenders) and the amount of any other Commitment transferred to it under this Agreement or assumed by it in accordance with Clause 2.2 (Increase); and 

 

	 	(b)	 in relation to any other Lender, the amount in U.S. dollars of any Commitment transferred to it under this
Agreement or assumed by it in accordance with Clause 2.2 (Increase), 

 to the extent not cancelled, reduced or transferred
by it under this Agreement. 
 Compliance Certificate means a certificate substantially in the form set out in Schedule 9 (Form of
Compliance Certificate). 
 Concentrate Sale Agreements means any offtake agreement with a maturity of more than one year
entered into by the Company in relation to the sale of mineral concentrates produced by the Company. 

  
 3 

 Confidential Information means all information relating to the Company, any Obligor,
the Group, the Finance Documents or the Facility of which a Finance Party becomes aware in its capacity as, or for the purpose of becoming, a Finance Party or which is received by a Finance Party in relation to, or for the purpose of becoming
a Finance Party under, the Finance Documents or the Facility from either: 
  

	 	(a)	 any member of the Group or any of its advisers; or 

 

	 	(b)	 another Finance Party, if the information was obtained by that Finance Party directly or indirectly from any
member of the Group or any of its advisers, 

 in whatever form, and includes information given orally and any document,
electronic file or any other way of representing or recording information which contains or is derived or copied from such information but excludes: 
  

	 	(i)	 information that: 

  

	 	(A)	 is or becomes public information other than as a direct or indirect result of any breach by that Finance Party
of Clause 35 (Confidential Information); 

  

	 	(B)	 is identified in writing at the time of delivery as non-confidential by
any member of the Group or any of its advisers; or 

  

	 	(C)	 is known by that Finance Party before the date the information is disclosed to it in accordance with paragraph
(a) or (b) above or is lawfully obtained by that Finance Party after that date, from a source which is, as far as that Finance Party is aware, unconnected with the Group and which, in either case, as far as that Finance Party is aware, has not
been obtained in breach of, and is not otherwise subject to, any obligation of confidentiality; and 

  

	 	(ii)	 any Funding Rate or Reference Bank Quotation. 

Confidentiality Undertaking means a confidentiality undertaking substantially in a recommended form of the LMA or in any other
form agreed between the Company and the Agent. 
 Deed of Release means the English law governed deed of release to be entered into on
or about the date of this Agreement relating to the release of the security granted under the Security Agreements (as defined in the Existing Facility Agreement) that are governed by English law. 

Default means an Event of Default or any event or circumstance specified in Clause 22 (Events of Default) which would (with the
expiry of a grace period, the giving of notice, the making of any determination under the Finance Documents or any combination of any of the foregoing) be an Event of Default. 

Defaulting Lender means any Lender: 
  

	 	(a)	 which has failed to make its participation in a Loan available (or has notified the Agent or the Company (which
has notified the Agent) that it will not make its participation in a Loan available) by the Utilisation Date of that Loan in accordance with Clause 5.4 (Lenders’ participation); 

 

	 	(b)	 which has otherwise rescinded or repudiated a Finance Document; or 

 

	 	(c)	 with respect to which an Insolvency Event has occurred and is continuing, 

  
 4 

 unless, in the case of paragraph (a) above: 

 

	 	(i)	 its failure to pay is caused by: 

 

	 	(A)	 administrative or technical error; or 

 

	 	(B)	 a Disruption Event; 

and payment is made within five Business Days of its due date; or 
  

	 	(ii)	 the Lender is disputing in good faith whether it is contractually obliged to make the payment in question.

 Delegate means any delegate, agent, attorney or co-trustee appointed by
the Security Agent. 
 Disruption Event means either or both of: 

 

	 	(a)	 a material disruption to those payment or communications systems or to those financial markets which are, in
each case, required to operate in order for payments to be made in connection with the Facility (or otherwise in order for the transactions contemplated by the Finance Documents to be carried out) which disruption is not caused by, and is beyond the
control of, any of the Parties; or 

  

	 	(b)	 the occurrence of any other event which results in a disruption (of a technical or systems-related nature) to
the treasury or payments operations of a Party preventing that, or any other Party: 

  

	 	(i)	 from performing its payment obligations under the Finance Documents; or 

 

	 	(ii)	 from communicating with other Parties in accordance with the terms of the Finance Documents,

 and which (in either such case) is not caused by, and is beyond the control of, the Party whose operations are
disrupted. 
 Environment means humans, animals, plants and all other living organisms including the ecological systems of
which they form part and the following media: 
  

	 	(a)	 air (including, without limitation, air within natural or man-made
structures, whether above or below ground); 

  

	 	(b)	 water (including, without limitation, territorial, coastal and inland waters, water under or within land and
water in drains and sewers); and 

  

	 	(c)	 land (including, without limitation, land under water). 

Environmental Certification means the environmental assessment approved by the corresponding authority, that can be classified
into the following categories, subject to the environmental impacts that the project can cause: (i) Environmental Impact Statement (Declaración de Impacto Ambiental - DIA), (ii) Semi-detailed Environmental Impact Assessment
(Estudio de Impacto Ambiental Semi Detallado - EIA-SD) and (iii) Detailed Environmental Impact Assessment (Estudio de Impacto Ambiental Detallado -
EIA-D). 
 Environmental Claim means any claim, proceeding, formal notice or investigation
by any person in respect of any Environmental Law. 

  
 5 

 Environmental Law means any applicable law or regulation which relates to: 

 

	 	(a)	 the pollution or protection of the Environment; 

 

	 	(b)	 the conditions of the workplace; or 

 

	 	(c)	 the generation, handling, storage, use, release or spillage of any substance which, alone or in combination
with any other, is capable of causing harm to the Environment, including, without limitation, any waste. 

 Event of
Default means any event or circumstance specified as such in Clause 22 (Events of Default). 
 Existing Facility means the
up to U.S.$200,000,000 facility established pursuant to the Existing Facility Agreement. 
 Existing Facility Agreement means
the revolving senior secured credit facility agreement dated 16 December 2014 between, among others, the Original Borrower, Scotiabank Europe plc as mandated lead arranger and original lender and The Bank of Nova Scotia as agent. 

Facility means the senior secured revolving credit facility made available under this Agreement as described in Clause 2 (The
Facility). 
 Facility Office means the office or offices notified by a Lender to the Agent in writing on or before the date it
becomes a Lender (or, following that date, by not less than five Business Days’ written notice) as the office or offices through which it will perform its obligations under this Agreement. 

Factoring Deed of Release means the deed of release dated on or about the date of this Agreement between the Company and the
Offshore Security Agent. 
 FATCA means: 
  

	 	(a)	 sections 1471 to 1474 of the Code or any associated regulations; 

 

	 	(b)	 any treaty, law or regulation of any other jurisdiction, or relating to an intergovernmental agreement between
the US and any other jurisdiction, which (in either case) facilitates the implementation of any law or regulation referred to in paragraph (a) above; or 

  

	 	(c)	 any agreement pursuant to the implementation of any treaty, law or regulation referred to in paragraph
(a) or (b) above with the US Internal Revenue Service, the US government or any governmental or taxation authority in any other jurisdiction. 

FATCA Application Date means: 
  

	 	(a)	 in relation to a ‘‘withholdable payment’’ described in section 1473(1)(A)(i) of the Code
(which relates to payments of interest and certain other payments from sources within the US), 1 July 2014; 

  

	 	(b)	 in relation to a ‘‘withholdable payment’’ described in section 1473(1)(A)(ii) of the Code
(which relates to ‘‘gross proceeds’’ from the disposition of property of a type that can produce interest from sources within the US), 1 January 2019; or 

 

	 	(c)	 in relation to a ‘‘passthru payment’’ described in section 1471(d)(7) of the Code not
falling within paragraph (a) or (b) above, 1 January 2019, 

  
 6 

 or, in each case, such other date from which such payment may become subject to a deduction
or withholding required by FATCA as a result of any change in FATCA after the date of this Agreement. 
 FATCA Deduction means a
deduction or withholding from a payment under a Finance Document required by FATCA. 
 FATCA Exempt Party means a Party that is
entitled to receive payments free from any FATCA Deduction. 
 Fee Letter means any letter or letters dated on or about the
date of this Agreement between, as the case may be, the Arranger and the Company, the Agent and the Company or the Security Agent and the Company setting out any of the fees referred to in Clause 11 (Fees) and includes the
‘‘Arrangement Fee’’ and ‘‘Participation Fee’’ sections of the Term Sheet for this purpose. 

Finance Document means this Agreement, the Promissory Note, the Agreement Regarding Completion of Note, any Fee Letter, any
Accession Letter, the Security Documents, the Factoring Deed of Release and any other document designated as such by the Agent and the Company. 

Finance Party means the Agent, the Security Agent or a Lender. 

Financial Indebtedness means (without double counting) any indebtedness for or in respect of: 

 

	 	(a)	 moneys borrowed; 

  

	 	(b)	 any amount raised by acceptance under any acceptance credit facility or dematerialised equivalent;

  

	 	(c)	 any amount raised pursuant to any note purchase facility or the issue of bonds, notes, debentures, loan stock
or any other similar instrument; 

  

	 	(d)	 the amount of any liability in respect of any lease or hire purchase contract which would, in accordance with
IFRS, be treated as a balance sheet liability; 

  

	 	(e)	 receivables sold or discounted (other than any receivables to the extent they are sold on a non-recourse basis); 

  

	 	(f)	 the amount of liability in respect of any purchase price for assets or services the payment of which is
deferred where the deferral of such price is either: 

  

	 	(i)	 used primarily as a method of raising credit; or 

 

	 	(ii)	 not made in the ordinary course of business; 

 

	 	(g)	 any agreement or option to re-acquire an asset if one of the primary
reasons for entering into such agreement or option is to raise finance; 

  

	 	(h)	 any amount raised under any other transaction (including any forward sale or purchase agreement) having the
commercial effect of a borrowing; 

  

	 	(i)	 any derivative transaction entered into in connection with protection against or benefit from fluctuation in
any rate or price (and, when calculating the value of any derivative transaction, only the marked to market value shall be taken into account); 

  
 7 

	 	(j)	 any counter-indemnity obligation in respect of a guarantee, indemnity, bond, standby or documentary letter of
credit or any other instrument issued by a bank or financial institution; 

  

	 	(k)	 any amount raised by the issue of redeemable shares; and 

 

	 	(l)	 the amount of any liability in respect of any guarantee or indemnity for any of the items referred to in
paragraphs (a) to (k) above. 

 Funding Rate means any individual rate notified by a Lender to the Agent
pursuant to paragraph (a)(ii) of Clause 10.3 (Market disruption). 
 Governmental Authority means any entity (including any
stock exchange) that exercises executive, legislative, regulatory, judicial, arbitral, municipal or administrative duties corresponding to government duties and has jurisdiction over a person or matters in question. 

Group means the Obligors and their subsidiaries from time to time. 

Guarantor means the Original Guarantor or an Additional Guarantor, unless it has ceased to be a Guarantor in accordance with
Clause 24 (Changes to the Obligors). 
 Holding Company means, in relation to a person, any other person in respect of which it is
a Subsidiary. 
 IFRS means international accounting standards within the meaning of IAS Regulation 1606/2002 to the
extent applicable to the relevant financial statements. 
 Impaired Agent means the Agent at any time when: 

 

	 	(a)	 it has failed to make (or has notified a Party that it will not make) a payment required to be made by it under
the Finance Documents by the due date for payment; 

  

	 	(b)	 the Agent otherwise rescinds or repudiates a Finance Document; 

 

	 	(c)	 (if the Agent is also a Lender) it is a Defaulting Lender under paragraph (a) or (b) of the definition of
Defaulting Lender; or 

  

	 	(d)	 an Insolvency Event has occurred and is continuing with respect to the Agent; 

unless, in the case of paragraph (a) above: 
  

	 	(i)	 its failure to pay is caused by: 

 

	 	(A)	 administrative or technical error; or 

 

	 	(B)	 a Disruption Event; and 

payment is made within five Business Days of its due date; or 
  

	 	(ii)	 the Agent is disputing in good faith whether it is contractually obliged to make the payment in question.

 Increase Confirmation means a confirmation substantially in the form set out in Schedule 12 (Form of
Increase Confirmation). 
 Increase Lender has the meaning given to that term in paragraph (a) of Clause 2.2 (Increase). 

  
 8 

 Indebtedness for Borrowed Money means Financial Indebtedness save for any
indebtedness for or in respect of paragraphs (i) and (j) of the definition of Financial Indebtedness. 
 Insolvency Event
in relation to an entity means that entity: 
  

	 	(a)	 is dissolved (other than pursuant to a consolidation, amalgamation or merger); 

 

	 	(b)	 becomes insolvent or is unable to pay its debts or fails or admits in writing its inability generally to pay
its debts as they become due; 

  

	 	(c)	 makes a general assignment, arrangement or composition with or for the benefit of its creditors;

  

	 	(d)	 institutes or has instituted against it, by a regulator, supervisor or any similar official with primary
insolvency, rehabilitative or regulatory jurisdiction over it in the jurisdiction of its incorporation or organisation or the jurisdiction of its head or home office, a proceeding seeking a judgment of insolvency or bankruptcy or any other relief
under any bankruptcy or insolvency law or other similar law affecting creditors’ rights, or a petition is presented for its winding-up or liquidation by it or such regulator, supervisor or other official;

  

	 	(e)	 has instituted against it a proceeding seeking a judgment of insolvency or bankruptcy or any other relief under
any bankruptcy or insolvency law or other similar law affecting creditors’ rights, or a petition is presented for its winding-up or liquidation and, in the case of any such proceeding or petition
instituted or presented against it, such proceeding or petition is instituted or presented by a person or entity not described in paragraph (d) above and: 

 

	 	(i)	 results in a judgment of insolvency or bankruptcy or the entry of an order for relief or the making of an order
for its winding-up or liquidation; or 

  

	 	(ii)	 is not dismissed, discharged, stayed or restrained in each case within 30 days of the institution or
presentation thereof; 

  

	 	(f)	 has exercised in respect of it one or more of the stabilisation powers pursuant to Part 1 of the Banking Act
2009 and/or has instituted against it a bank insolvency proceeding pursuant to Part 2 of the Banking Act 2009 or a bank administration proceeding pursuant to Part 3 of the Banking Act 2009; 

 

	 	(g)	 has a resolution passed for its winding-up, official management or
liquidation (other than pursuant to a consolidation, amalgamation or merger); 

  

	 	(h)	 seeks or becomes subject to the appointment of an administrator, provisional liquidator, conservator, receiver,
trustee, custodian or other similar official for it or for all or substantially all its assets (other than, for so long as it is required by law or regulation not to be publicly disclosed, any such appointment which is to be made, or is made, by a
person or entity described in paragraph (d) above); 

  

	 	(i)	 has a secured party take possession of all or substantially all its assets or has a distress, execution,
attachment, sequestration or other legal process levied, enforced or sued on or against all or substantially all its assets and such secured party maintains possession, or any such process is not dismissed, discharged, stayed or restrained, in each
case within 30 days thereafter; 

  
 9 

	 	(j)	 causes or is subject to any event with respect to it which, under the applicable laws of any jurisdiction, has
an analogous effect to any of the events specified in paragraphs (a) to (i) above; or 

  

	 	(k)	 takes any action in furtherance of, or indicating its consent to, approval of, or acquiescence, in any of the
foregoing acts. 

 Interest Period means, in relation to a Loan, each period determined in accordance with Clause
9 (Interest Periods) and, in relation to an Unpaid Sum, each period determined in accordance with Clause 8.3 (Default interest). 

Interpolated Screen Rate means, in relation to LIBOR for any Loan, the rate (rounded to the same number of decimal places as the
two relevant Screen Rates) which results from interpolating on a linear basis between: 
  

	 	(a)	 the applicable Screen Rate for the longest period (for which that Screen Rate is available) which is less than
the Interest Period of that Loan; and 

  

	 	(b)	 the applicable Screen Rate for the shortest period (for which that Screen Rate is available) which exceeds the
Interest Period of that Loan, 

 each as of the Specified Time on the Quotation Day for U.S. dollars. 

JORC Code means the 2012 Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves published by
the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy, the Australian Institute of Geoscientists and the Minerals Council of Australia, as updated from time to time. 

Lender means: 
  

	 	(a)	 any Original Lender; and 

 

	 	(b)	 any bank, financial institution, trust, fund or other entity which has become a Party as a
‘‘Lender’’ in accordance with Clause 2.2 (Increase) or Clause 23 (Changes to the Lenders), 

 which in
each case has not ceased to be a Party as such in accordance with the terms of this Agreement. 
 LIBOR means, in relation to any
Loan: 
  

	 	(a)	 the applicable Screen Rate as of the Specified Time on the Quotation Day for U.S. dollars and for a period
equal in length to the Interest Period of that Loan; or 

  

	 	(b)	 as otherwise determined pursuant to Clause 10.1 (Unavailability of Screen Rate). 

Life of Mine means the expected working life of the Cerro Corona mine calculated in years by dividing (i) the Reserves (in
metric tonnes) according to the most recent Reserves Report by (ii) the arithmetic average per year of the minerals processed (in metric tonnes) by the Cerro Corona mine during the immediately preceding three financial years of the Company.

 Life of Mine Plan means a plan prepared by the Company in accordance with industry accepted standards detailing the expected
working life of the Cerro Corona mine based on the employment of available capital and the current ore reserves (or such reasonable extension of the ore reserves as a conservative geological analysis may justify). 

  
 10 

 LMA means the Loan Market Association. 

Loan means a loan made or to be made under the Facility or the principal amount outstanding for the time being of that loan. 

Majority Lenders means a Lender or Lenders whose Commitments aggregate more than
662/ 3% of the Total Commitments (or, if the Total Commitments have been reduced to zero, aggregated more than 662/3% of the Total Commitments immediately prior to the reduction). 

Margin means 1.20% per annum. 

Material Adverse Effect means any event or circumstance that has had, has or could reasonably be expected to have a material
adverse effect on: 
  

	 	(a)	 the ability of an Obligor to perform its financial obligations or any other material obligations (including,
without limitation, the covenants in Clause 20 (Financial Covenants)) under the Finance Documents; 

  

	 	(b)	 the validity or enforceability of any of the Finance Documents, any obligation thereunder or the rights or
remedies of the Lenders thereunder; or 

  

	 	(c)	 the business, operations, property or financial condition of the Group taken as a whole, so as to cause any of
the events in paragraphs (a) and (b) above. 

 Month means 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)	 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. 

 The above rules will only apply to
the last Month of any period. 
 New Lender has the meaning given to that term in Clause 23.1 (Assignments and transfers by the
Lenders). 
 Obligor means a Borrower or a Guarantor. 

Offshore Sale Agreements means any Concentrate Sale Agreements or Spot Sale Agreements governed by any law (other than Peruvian
law). 
 Offshore Security Agreement means the security agreement entered into on or about the date of this Agreement between,
among others, the Offshore Security Agent and the Original Borrower, assigning all rights, title and interest in the Offshore Sale Agreements governed by English law and charging certain offshore bank accounts related thereto. 

Onshore Sale Agreements means any Concentrate Sale Agreements or Spot Sale Agreements governed by Peruvian law. 

  
 11 

 Onshore Security Agreements means each security agreement entered into on or about
the date of this Agreement between the Onshore Security Agent and the Original Borrower, pledging or assigning, as applicable, (i) all of the Original Borrower’s credit rights and all funds arising from such credit rights, under the
Onshore Sale Agreements; and (ii) the funds available from time to time in certain bank accounts of the Original Borrower into which payments related to the Onshore Sale Agreements are to be received. 

Original Financial Statements means the audited consolidated financial statements of the Company for the financial year ended
31 December 2016. 
 Original Obligor means the Original Borrower or the Original Guarantor. 

Parent means Gold Fields Limited, a company duly organised under the laws of South Africa. 

Participating Member State means any member state of the European Union that has the euro as its lawful currency in accordance
with legislation of the European Union relating to Economic and Monetary Union. 
 Party means a party to this Agreement. 

Permitted Security has the meaning given to that term in paragraph (c) of Clause 21.3 (Negative pledge). 

Permitted Transferee means any entity on the Permitted Transferee List. 

Permitted Transferee List means the list of entities in Schedule 13 (Permitted Transferee List) as amended from time to time
pursuant to Clause 23.3 (Removal of Permitted Transferee). 
 Promissory Note means each incomplete promissory note (pagaré
incompleto) issued to each Lender in accordance with Peruvian law N°27287 (Ley de Titulos Valores) substantially in the form set out in Schedule 14 (Form of Promissory Note) delivered or to be delivered to the Agent for the
benefit of each of the Lenders pursuant to Clause 5.6 (The Promissory Note). 
 Quasi-Security has the meaning given to that term in
Clause 21.3 (Negative pledge). 
 Quotation Day means, in relation to any period for which an interest rate is to be determined,
two Business Days before the first day of that period unless market practice differs in the Relevant Interbank Market, in which case the Quotation Day will be determined by the Agent in accordance with market practice in the Relevant
Interbank Market (and if quotations for that currency and period would normally be given by leading banks in the Relevant Interbank Market on more than one day, the Quotation Day will be the last of those days). 

Receiver means a receiver or receiver and manager or administrative receiver of the whole or any part of the Security Assets.

 Reference Bank Quotation means any quotation supplied to the Agent by a Reference Bank. 

Reference Bank Rate means the arithmetic mean of the rates (rounded upwards to four decimal places) as supplied to the Agent at
its request by the Reference Banks: 
  

	 	(a)	 if: 

  

	 	(i)	 the Reference Bank is a contributor to the Screen Rate; and 

 

	 	(ii)	 it consists of a single figure, 

  
 12 

 the rate (applied to the relevant Reference Bank and the relevant currency and period)
which contributors to the Screen Rate are asked to submit to the relevant administrator; or 
  

	 	(b)	 in any other case, the rate at which the relevant Reference Bank could fund itself in U.S. dollars for the
relevant period with reference to the unsecured wholesale funding market. 

 Reference Banks means, in relation to
LIBOR, the Original Lenders and such other banks as may be appointed by the Agent in consultation with the Company. 
 Related Fund
in relation to a fund (the first fund), means a fund which is managed or advised by the same investment manager or investment adviser as the first fund or, if it is managed by a different investment manager or investment adviser, a
fund whose investment manager or investment adviser is an Affiliate of the investment manager or investment adviser of the first fund. 

Relevant Interbank Market means the London interbank market. 

Repeating Representations means each of the representations set out in Clause 18.1 (Status), Clause 18.2 (Power and authority),
paragraph (b) of Clause 18.3 (Binding obligations), Clause 18.4 (Non-conflict with other obligations), Clause 18.5 (Validity and admissibility in evidence), Clause 18.7 (No Event of Default), paragraph
(a) of Clause 18.8 (No misleading information), Clause 18.9 (Financial statements), Clause 18.11 (No winding up), Clause 18.12 (No Security), Clause 18.13 (Assets), Clause 18.14 (Insurance), Clause 18.15 (Environmental compliance), Clause 18.16
(Environmental Claim), Clause 18.17 (Taxation), Clause 18.18 (Labour matters), Clause 18.19 (No Material Adverse Effect), Clause 18.21 (Bankruptcy proceedings) and paragraph (b) of Clause 18.23 (Sanctions and Anti-Corruption). 

Representative means any delegate, agent, manager, administrator, nominee, attorney, trustee or custodian. 

Reserves means the proved and probable reserves of the Cerro Corona mine in metric tonnes and ounces of gold equivalent. 

Reserves Report means a report prepared by the Company in accordance with the JORC Code and reviewed by a first class independent
expert and to the satisfaction of the Majority Lenders which details the Reserves as at the date of that Reserves Report. 
 Resignation
Letter means a letter substantially in the form set out in Schedule 7 (Form of Resignation Letter). 
 Restricted Payment
has the meaning given to that term in Clause 21.16 (Distributions). 
 Rollover Loan means one or more Loans: 

 

	 	(a)	 made or to be made on the same day that one or more maturing Loans is or are due to be repaid;

  

	 	(b)	 the aggregate amount of which is equal to or less than the amount of the maturing Loan(s); and

  

	 	(c)	 made or to be made to the same Borrower for the purpose of refinancing the maturing Loan(s).

 Sale Agreements means, collectively, the Offshore Sale Agreements and the Onshore Sale Agreements. 

  
 13 

 Sanctions means any economic, financial or trade sanctions laws, regulations,
embargoes or restrictive measures administered, enacted or enforced by the United States government (including without limitation, the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State and
including, without limitation, the designation as a ‘‘specially designated national’’ or ‘‘blocked person’’), the United Nations Security Council, the European Union, Her Majesty’s Treasury, any Peruvian
Governmental Authority that has a similar authority to administer, enact or enforce sanctions as the abovementioned entities or any other relevant sanctions authority which replaces, or is a successor to, any of the foregoing. 

Sanctioned Country means a country, territory or region that is the target of Sanctions. 

Screen Rate means the London interbank offered rate administered by ICE Benchmark Administration Limited (or any applicable
successor entity) for U.S. dollars for the relevant period displayed on pages LIBOR01 or LIBOR02 of the Thomson Reuters screen (or any replacement Thomson Reuters page which displays that rate) or, if not available, on the appropriate page of such
other information service which publishes that rate from time to time in place of Thomson Reuters (such as Bloomberg Financial Markets Service). If such page or service ceases to be available, the Agent may specify another page or service displaying
the relevant rate after consultation with the Company. 
 Secured Obligations has the meaning given to it in each Security Document.

 Security means a mortgage, charge, pledge, lien or other security interest securing any obligation of any person or any
other agreement or arrangement having a similar effect. 
 Security Assets means all of the assets of the Obligors which from time to
time are, or are expressed to be, the subject of the Security Documents. 
 Security Document means the Offshore Security
Agreement, the Onshore Security Agreements and any other security document that may at any time be given as security for any of the Secured Obligations pursuant to or in connection with any Finance Document. 

Security Property has the meaning given to it in paragraph 1 (Definitions) of Schedule 8 (Security Agency Provisions). 

Separate Loans has the meaning given to that term in paragraph (c) of Clause 6 (Repayment). 

Specified Time means a time determined in accordance with Schedule 11 (Timetables). 

Spot Sale Agreements means any offtake agreement with a maturity of one year or less entered into by the Company in relation to
the sale of mineral concentrates produced by the Company. 
 Subsidiary means, in relation to any company, corporation or other legal
entity (a holding company), a company, corporation or other legal entity: 
  

	 	(a)	 which is controlled, directly or indirectly, by the holding company; 

 

	 	(b)	 in which a majority of the voting rights are held by the holding company (directly or indirectly), either alone
or pursuant to an agreement with others; 

  

	 	(c)	 more than half the issued share capital of which is beneficially owned, directly or indirectly, by the holding
company; or 

  

	 	(d)	 which is a subsidiary of another Subsidiary of the holding company, 

  
 14 

 and, for this purpose, a company, corporation or other legal entity shall be treated as
being controlled by another if that other company, corporation or other legal entity is able to determine the composition of the majority of its board of directors or equivalent body. 

Tax means any tax, levy, impost, duty or other charge or withholding of a similar nature (including any penalty or interest
payable in connection with any failure to pay or any delay in paying any of the same). 
 Term Sheet means the term sheet attached to
the letter dated 23 June 2017 from the Agent and the Arranger to the Company, documenting various commercial terms relating to this Agreement and signed by the Company and the Agent. 

Termination Date means the date which is three years after the date of this Agreement. 

Third Parties Act means the Contracts (Rights of Third Parties) Act 1999. 

Total Commitments means the aggregate of the Commitments, being U.S.$150,000,000 at the date of this Agreement subject to any
reduction pursuant to Clause 7.3 (Life of Mine). 
 Transfer Certificate means a certificate substantially in the form set out in
Schedule 4 (Form of Transfer Certificate) or any other form agreed between the Agent and the Company. 
 Transfer Date means,
in relation to an assignment or a transfer, the later of: 
  

	 	(a)	 the proposed Transfer Date specified in the relevant Assignment Agreement or Transfer Certificate; and

  

	 	(b)	 the date on which the Agent executes the relevant Assignment Agreement or Transfer Certificate.

 Unpaid Sum means any sum due and payable but unpaid by an Obligor under the Finance Documents. 

US means the United States of America. 

Utilisation means a utilisation of the Facility. 

Utilisation Date means the date of a Utilisation, being the date on which the relevant Loan is to be made. 

Utilisation Request means a notice substantially in the form set out in Schedule 3 (Utilisation Request). 

VAT means the Impuesto General a las Ventas (as regulated by the Texto Único Ordenado de la
Ley del Impuesto General a las Ventas e Impuesto Selectivo al Consumo) and its regulations, which, among other things, applies to the supply of goods and services (including financial services) in Peru, as well as services
provided by non-residents that are used in Peru, including interest payable on foreign loans (other than interest on loans granted by local or foreign bank or financial entities which are VAT exempted). 

  
 15 

	1.2	 Construction 

  

	(a)	 Unless a contrary indication appears, any reference in this Agreement to: 

 

	 	(i)	 the Agent, any Finance Party, any Lender, any Obligor, any Party or the
Security Agent shall be construed so as to include its successors in title, permitted assigns and permitted transferees to, or of, it rights and/or obligations under the Finance Documents; 

 

	 	(ii)	 assets includes present and future properties, revenues and rights of every description;

  

	 	(iii)	 a Finance Document or any other agreement or instrument is a reference to that Finance Document or other
agreement or instrument as amended, novated, supplemented, extended, restated (however fundamentally and whether or not more onerously) or replaced and includes any change in the purpose of, any extension of or any increase in any facility or the
addition of any new facility under that Finance Document or other agreement or instrument; 

  

	 	(iv)	 a group of Lenders includes all the Lenders; 

 

	 	(v)	 indebtedness includes any obligation (whether incurred as principal or as surety) for the payment
or repayment of money, whether present or future, actual or contingent; 

  

	 	(vi)	 a person includes any individual, firm, company, corporation, government, state or agency of a state or
any association, trust, joint venture, consortium or partnership or other entity (whether or not having separate legal personality); 

  

	 	(vii)	 a regulation includes any regulation, rule, official directive, request or guideline (whether or not
having the force of law) of any governmental, intergovernmental or supranational body, agency, department or of any regulatory, self-regulatory or other authority or organisation; 

 

	 	(viii)	 a provision of law is a reference to that provision as amended or
re-enacted; and 

  

	 	(ix)	 a time of day is a reference to Lima time. 

 

	(b)	 The determination of the extent to which a rate is for a period equal in length to an Interest Period
shall disregard any inconsistency arising from the last day of that Interest Period being determined pursuant to the terms of this Agreement. 

  

	(c)	 Section, Clause and Schedule headings are for ease of reference only. 

 

	(d)	 Unless a contrary indication appears, a term used in any other Finance Document or in any notice given under or
in connection with any Finance Document has the same meaning in that Finance Document or notice as in this Agreement. 

  

	(e)	 A Default (other than an Event of Default) is continuing if it has not been remedied or waived and an
Event of Default is continuing if it has not been remedied or waived. 

  

	1.3	 Currency symbols and definitions 

U.S.$ and U.S. dollars denote the lawful currency of the United States of America. 

Peruvian Soles denote the lawful currency of Peru. 
  

	1.4	 Third party rights 

 

	(a)	 Unless expressly provided to the contrary in a Finance Document, a person who is not a Party has no right under
the Third Parties Act to enforce or to enjoy the benefit of any term of this Agreement. 

  
 16 

	(b)	 Subject to paragraph (b) of Clause 34.2 (Exceptions) but otherwise notwithstanding any term of any Finance
Document, the consent of any person who is not a Party is not required to rescind or vary this Agreement at any time. 

  

	2.	 THE FACILITY 

  

	2.1	 The Facility 

Subject to the terms of this Agreement, the Lenders make available to the Borrowers a revolving loan facility in U.S. dollars in an aggregate
amount equal to the Total Commitments. 
  

	2.2	 Increase 

  

	(a)	 The Company may by giving prior notice to the Agent after the effective date of a cancellation of:

  

	 	(i)	 the Available Commitments of a Defaulting Lender in accordance with paragraph (i) of Clause 7.6 (Right of
replacement or repayment and cancellation in relation to a single Lender); or 

  

	 	(ii)	 the Commitments of a Lender in accordance with: 

 

	 	(A)	 Clause 7.1 (Illegality); or 

 

	 	(B)	 paragraph (a) of Clause 7.6 (Right of replacement or repayment and cancellation in relation to a single
Lender), 

 request that the Commitments relating to the Facility be increased (and the Commitments relating to the
Facility shall be so increased) in an aggregate amount in U.S. dollars of up to the amount of the Available Commitments or Commitments relating to the Facility so cancelled as follows: 

 

	 	I.	 the increased Commitments will be assumed by one or more Lenders or other banks or financial institutions,
(each, an Increase Lender) selected by the Company (each of which shall not be a member of the Group) and each of which confirms in writing (whether in the relevant Increase Confirmation or otherwise) its willingness to assume and does assume
all the obligations of a Lender corresponding to that part of the increased Commitments which it is to assume, as if it had been an Original Lender; 

  

	 	II.	 each of the Obligors and any Increase Lender shall assume obligations towards one another and/or acquire rights
against one another as the Obligors and the Increase Lender would have assumed and/or acquired had the Increase Lender been an Original Lender; 

  

	 	III.	 each Increase Lender shall become a Party as a ‘‘Lender’’ and any Increase Lender and each
of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as that Increase Lender and those Finance Parties would have assumed and/or acquired had the Increase Lender been an Original Lender;

  

	 	IV.	 the Commitments of the other Lenders shall continue in full force and effect; and 

  
 17 

	 	V.	 any increase in the Commitments relating to the Facility shall take effect on the date specified by the Company
in the notice referred to above or any later date on which the conditions set out in paragraph (b) below are satisfied. 

  

	(b)	 An increase in the Commitments relating to the Facility will only be effective on: 

 

	 	(i)	 the execution by the Agent of an Increase Confirmation from the relevant Increase Lender; and

  

	 	(ii)	 in relation to an Increase Lender which is not a Lender immediately prior to the relevant increase, the Agent
being satisfied that it has complied with all necessary ‘‘know your customer’’ or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitments by that Increase Lender.
The Agent shall promptly notify the Company and the Increase Lender upon being so satisfied. 

  

	(c)	 Each Increase Lender, by executing the Increase Confirmation, confirms (for the avoidance of doubt) that the
Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the increase becomes effective.

  

	(d)	 The Company shall, promptly on demand, pay the Agent and the Security Agent the amount of all costs and
expenses (including legal fees) reasonably incurred by either of them in connection with any increase in Commitments under this Clause 2.2. 

  

	(e)	 The Increase Lender shall, on the date upon which the increase takes effect, pay to the Agent (for its own
account) a fee in an amount equal to the fee which would be payable under Clause 23.4 (Assignment or transfer fee) if the increase was a transfer pursuant to Clause 23.6 (Procedure for transfer) and if the Increase Lender was a New Lender.

  

	(f)	 Clause 23.5 (Limitation of responsibility of Existing Lenders) shall apply mutatis mutandis in this
Clause 2.2 in relation to an Increase Lender as if references in that Clause to: 

  

	 	(i)	 an Existing Lender were references to all the Lenders immediately prior to the relevant increase;

  

	 	(ii)	 the New Lender were references to that Increase Lender; and 

 

	 	(iii)	 a re-transfer and
re-assignment were references to, respectively, a transfer and assignment. 

  

	2.3	 Finance Parties’ rights and obligations 

 

	(a)	 The obligations of each Finance Party under the Finance Documents are several. Failure by a Finance Party to
perform its obligations under the Finance Documents does not affect the obligations of any other Party under the Finance Documents. No Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents.

  

	(b)	 The rights of each Finance Party under or in connection with the Finance Documents are separate and independent
rights and any debt arising under the Finance Documents to a Finance Party from an Obligor is a separate and independent debt in respect of which a Finance Party shall be entitled to enforce its rights in accordance with paragraph (c) below.
The rights of each Finance Party include any debt owing to that Finance Party under the Finance Documents and, for the avoidance of doubt, any part of a Loan or any other amount owed by an Obligor which relates to a Finance Party’s
participation in a Facility or its role under a Finance Document (including any such amount payable to the Agent on its behalf) is a debt owing to that Finance Party by that Obligor. 

  
 18 

	(c)	 A Finance Party may, except as specifically provided in the Finance Documents, separately enforce its rights
under or in connection with the Finance Documents. 

  

	3.	 PURPOSE 

  

	3.1	 Purpose 

Each Borrower shall apply all amounts borrowed by it under the Facility: 

 

	 	(a)	 in respect of the proceeds from the first Utilisation only, to refinance the Existing Facility;

  

	 	(b)	 to finance the working capital requirements of the Borrowers; and/or 

 

	 	(c)	 for the general corporate purposes of the Borrowers. 

 

	3.2	 Monitoring 

No Finance Party is bound to monitor or verify the application of any amount borrowed pursuant to this Agreement. 

 

	4.	 CONDITIONS OF UTILISATION 

 

	4.1	 Initial conditions precedent 

No Borrower may deliver a Utilisation Request unless the Agent has received all of the documents and evidence listed in Part 1 of Schedule 2
(Conditions Precedent) in form and substance satisfactory to the Agent. The Agent shall notify the Company and the Lenders promptly upon being so satisfied. 
  

	4.2	 Further conditions precedent 

The Lenders will only be obliged to comply with Clause 5.4 (Lenders’ participation) if on the date of the Utilisation Request and on the
proposed Utilisation Date: 
  

	 	(a)	 in the case of a Rollover Loan, no Event of Default is continuing or would result from the proposed Loan and,
in the case of any other Loan, no Default is continuing or would result from the proposed Loan; and 

  

	 	(b)	 the Repeating Representations to be made by each Obligor are true in all material respects,

 and if prior to the proposed Utilisation Date: 
  

	 	(c)	 if the relevant Loan (or any part of it) is intended to be used for investments which are subject to the
developing, obtaining, amendment and/or other approval of the appropriate Governmental Authority of an Environmental Certification (the Approval), the Company supplies to the Agent a certificate signed by a director of the Company
substantially in the form set out in Schedule 16 (Form of Compliance Certificate of Investments). 

  

	4.3	 Maximum number of Loans 

 

	(a)	 A Borrower may not deliver a Utilisation Request if as a result of the proposed Utilisation more than 10 Loans
would be outstanding. 

  
 19 

	(b)	 Any Separate Loan shall not be taken into account in this Clause 4.3. 

 

	5.	 UTILISATION 

  

	5.1	 Delivery of a Utilisation Request 

A Borrower may utilise the Facility by delivery to the Agent of a duly completed Utilisation Request not later than the Specified Time. 

 

	5.2	 Completion of a Utilisation Request 

 

	(a)	 Each Utilisation Request is irrevocable and will not be regarded as having been duly completed unless:

  

	 	(i)	 the proposed Utilisation Date is a Business Day within the Availability Period; 

 

	 	(ii)	 the currency and amount of the Utilisation comply with Clause 5.3 (Currency and amount); 

 

	 	(iii)	 the proposed Interest Period complies with Clause 9 (Interest Periods); and 

 

	 	(iv)	 it specifies the account and bank to which the proceeds of the Utilisation are to be credited, which in the
case of the Original Borrower shall be an account held with a Peruvian bank. 

  

	(b)	 Only one Loan may be requested in each Utilisation Request. 

 

	5.3	 Currency and amount 

 

	(a)	 The currency specified in a Utilisation Request must be U.S. dollars. 

 

	(b)	 The amount of the proposed Loan must be: 

 

	 	(i)	 a minimum of U.S.$5,000,000 or, if less, the Available Facility; or 

 

	 	(ii)	 in any event such that it is less than or equal to the Available Facility. 

 

	5.4	 Lenders’ participation 

 

	(a)	 If the conditions set out in this Agreement have been met, and subject to Clause 6 (Repayment), each Lender
shall make its participation in each Loan available by the Utilisation Date through its Facility Office. 

  

	(b)	 The amount of each Lender’s participation in each Loan will be equal to the proportion borne by its
Available Commitment to the Available Facility immediately prior to making the Loan. 

  

	(c)	 The Agent shall notify each Lender of the amount of each Loan and the amount of its participation in that Loan
by the Specified Time. 

  

	5.5	 Cancellation of Commitment 

The Commitments which, at that time, are unutilised shall be immediately cancelled at the end of the Availability Period for the Facility. 

  
 20 

	5.6	 The Promissory Note 

 

	(a)	 The Original Borrower and each Additional Borrower (if any), shall deliver to each Lender prior to the first
Utilisation Date, as applicable, a duly executed Promissory Note for that Lender which shall have the amount owed and maturity date left blank to be completed by each Lender in accordance with the Agreement Regarding Completion of Note to be
executed by the Original Borrower and Additional Borrower (if any) and each of the Lenders, and with paragraph (b) below. 

  

	(b)	 Upon an acceleration of the Loans in accordance with Clause 22.16 (Acceleration), the Agent (acting on the
instructions of the Majority Lenders) may require the Promissory Notes to be completed in accordance with the Agreement Regarding Completion of the Note as follows by the inserting of: 

 

	 	(i)	 the maturity date, being the date on which the Lenders intend to redeem the Promissory Note;

  

	 	(ii)	 the amount outstanding under the Promissory Note, being the amount of the applicable Lender’s
participations in the Loans outstanding as at the date the Promissory Note is redeemed and which is payable to that Lender, together with any accrued interest, and all other amounts accrued or outstanding to the applicable Lender under the Finance
Documents; 

  

	 	(iii)	 the compensatory interest rate applicable to that Promissory Note, which shall be the rate equivalent to 6-month LIBOR plus Margin plus any applicable default interest, calculated in accordance with Clause 8 (Interest) and Clause 10 (Changes to the Calculation of Interest), if applicable, as at the date the Promissory
Note is completed; and 

  

	 	(iv)	 the currency of the amount owed and payable under the Promissory Note which shall be U.S. dollars.

  

	(c)	 In order to complete each Promissory Note, the Agent and the Lenders shall follow the rules included in the
Agreement Regarding Completion of Note. 

  

	(d)	 The Promissory Note shall be: 

 

	 	(i)	 signed by a duly authorised signatory of the Original Borrower; and 

 

	 	(ii)	 dated the date on which it is issued and delivered to the Agent. 

 

	(e)	 The Promissory Note shall not be redeemed unless the Agent has issued a notice to the Company declaring that
the Facility is to be immediately due and payable in accordance with Clause 22.16 (Acceleration). 

  

	6.	 REPAYMENT 

  

	(a)	 Subject to paragraph (c) below, each Borrower which has drawn a Loan shall repay that Loan on the last day
of its Interest Period. 

  

	(b)	 Without prejudice to each Borrower’s obligation under paragraph (a) above, if: 

 

	 	(i)	 one or more Loans are to be made available to a Borrower: 

 

	 	(A)	 on the same day that a maturing Loan is due to be repaid by that Borrower; and 

 

	 	(B)	 in whole or in part for the purpose of refinancing the maturing Loan; and 

  
 21 

	 	(ii)	 the proportion borne by each Lender’s participation in the maturing Loan to the amount of that maturing
Loan is the same as the proportion borne by that Lender’s participation in the new Loans to the aggregate of those new Loans, 

the aggregate amount of the new Loans shall, unless the Company notifies the Agent to the contrary in the relevant Utilisation Request, be
treated as if applied in or towards repayment of the maturing Loan so that: 
  

	 	(A)	 if the amount of the maturing Loan exceeds the aggregate amount of the new Loans: 

 

	 	I.	 the relevant Borrower will only be required to make a payment under Clause 28.1 (Payments to the Agent) in an
amount equal to that excess; and 

  

	 	II.	 each Lender’s participation in the new Loans shall be treated as having been made available and applied by
the Borrower in or towards repayment of that Lender’s participation in the maturing Loan and that Lender will not be required to make a payment under Clause 28.1 (Payments to the Agent) in respect of its participation in the new Loans; and

  

	 	(B)	 if the amount of the maturing Loan is equal to or less than the aggregate amount of the new Loans:

  

	 	I.	 the relevant Borrower will not be required to make a payment under Clause 28.1 (Payments to the Agent); and

  

	 	II.	 each Lender will be required to make a payment under Clause 28.1 (Payments to the Agent) in respect of its
participation in the new Loans only to the extent that its participation in the new Loans exceeds that Lender’s participation in the maturing Loan and the remainder of that Lender’s participation in the new Loans shall be treated as having
been made available and applied by the Borrower in or towards repayment of that Lender’s participation in the maturing Loan. 

  

	(c)	 At any time when a Lender becomes a Defaulting Lender, the maturity date of each of the participations of that
Lender in the Loans then outstanding will be automatically extended to the Termination Date in relation to the Facility and will be treated as separate Loans (the Separate Loans). 

 

	(d)	 A Borrower to whom a Separate Loan is outstanding may prepay that Loan by giving five Business Days’ prior
notice to the Agent. The Agent will forward a copy of a prepayment notice received in accordance with this paragraph (d) to the Defaulting Lender concerned as soon as practicable on receipt. 

 

	(e)	 Interest in respect of a Separate Loan will accrue for successive Interest Periods selected by the Borrower by
the time and date specified by the Agent (acting reasonably) and will be payable by that Borrower to the Defaulting Lender on the last day of each Interest Period of that Loan. 

 

	(f)	 The terms of this Agreement relating to Loans generally shall continue to apply to Separate Loans other than to
the extent inconsistent with paragraphs (c) to (e) above, in which case those paragraphs shall prevail in respect of any Separate Loan. 

  
 22 

	7.	 PREPAYMENT AND CANCELLATION 

 

	7.1	 Illegality 

If, in any applicable jurisdiction, it becomes unlawful for any Lender to perform any of its obligations as contemplated by this Agreement or
to fund or maintain its participation in any Loan or it becomes unlawful for any Affiliate of a Lender for that Lender to do so: 
  

	 	(a)	 that Lender shall promptly notify the Agent upon becoming aware of that event; 

 

	 	(b)	 upon the Agent notifying the Company, each Available Commitment of that Lender will be immediately cancelled;
and 

  

	 	(c)	 to the extent that the Lender’s participation has not been transferred pursuant to paragraph (d) of Clause
7.6 (Right of replacement or repayment and cancellation in relation to a single Lender), each Borrower shall repay that Lender’s participation in the Loans made to that Borrower on the last day of the Interest Period for each Loan occurring
after the Agent has notified the Company or, if earlier, the date specified by the Lender in the notice delivered to the Agent (being no earlier than the last day of any applicable grace period permitted by law) and that Lender’s corresponding
Commitment(s) shall be cancelled in the amount of the participations repaid. 

  

	7.2	 Change of control 

 

	(a)	 If the Parent ceases to control a Borrower: 

 

	 	(i)	 the Company shall promptly notify the Agent upon becoming aware of that event; 

 

	 	(ii)	 a Lender shall not be obliged to fund a Utilisation (except for a Rollover Loan); and 

 

	 	(iii)	 if, following a 45 day consultation period with the Company (the Consultation Period), a Lender so
requires, the Agent shall, by giving notice to the Company not less than five days prior to the end of the Consultation Period, cancel the Commitment of that Lender and declare the participation of that Lender in all outstanding Loans, together with
accrued interest, and all other amounts accrued under the Finance Documents immediately due and payable, whereupon the Commitment of that Lender will be cancelled and all such outstanding amounts will become immediately due and payable.

  

	(b)	 For the purposes of paragraph (a) above, ceases to control means the Parent ceasing to directly or
indirectly: 

  

	 	(i)	 hold at least 50% of a Borrower’s outstanding voting stock; or 

 

	 	(ii)	 have the ability to designate or remove the majority of a Borrower’s board members (or equivalent organ);
or 

  

	 	(iii)	 have the ability, through any means (whether contractual or not), to control the decision making power of a
Borrower, 

  

	7.3	 Life of Mine 

  

	(a)	 If, on the second anniversary of the date of this Agreement, the Life of Mine, according to the Reserves Report
delivered to the Agent prior to that date, is less than six years beyond the second anniversary of this Agreement: 

  
 23 

	 	(i)	 the Total Commitments shall immediately be reduced to US$75,000,000 (and each Lender’s Commitment shall be
reduced pro rata); and 

  

	 	(ii)	 the Borrower shall prepay, within five Business Days of receipt of the notice referred to in paragraph
(b) below, such Loans in an amount such that the aggregate amount of all outstanding Loans does not exceed the Total Commitments (as reduced in accordance with paragraph (i) above) (the ‘‘Prepayment Amount’’).

  

	(b)	 If paragraph (a) above applies, the Agent shall notify the Borrower of the Prepayment Amount plus any
accrued and unpaid interest and all relevant prepayment instructions, on the Business Day after the date of the second anniversary of the date of this Agreement. 

 

	7.4	 Voluntary cancellation 

A Borrower may, if it gives the Agent not less than five Business Days’ (or such shorter period as the Majority Lenders may agree) prior
notice, cancel the whole or any part of the Available Facility (but, if in part, being a minimum amount of U.S.$10,000,000 and multiples of U.S.$5,000,000 in excess thereof). Any cancellation under this Clause 7.4 shall reduce the Commitments of the
Lenders rateably. 
  

	7.5	 Voluntary prepayment of Loans 

The Borrower to which a Loan has been made may, if it gives the Agent not less than five Business Days’ (or such shorter period as the
Majority Lenders may agree) prior notice, prepay the whole or any part of a Loan (but, if in part, being an amount that reduces the Loan by a minimum amount of U.S.$10,000,000 and in multiples of U.S.$5,000,000 in excess thereof) without penalty.

  

	7.6	 Right of replacement or repayment and cancellation in relation to a single Lender 

 

	(a)	 If: 

  

	 	(i)	 any sum payable to any Lender by an Obligor is required to be increased under paragraph (c) of Clause 12.2
(Tax gross-up); or 

  

	 	(ii)	 any Lender claims indemnification from the Company under Clause 12.3 (Tax indemnity) or Clause 13.1 (Increased
Costs), 

 the Company may, whilst the circumstance giving rise to the requirement for that increase or indemnification
continues, give the Agent notice of cancellation of the Commitment of that Lender and its intention to procure the repayment of that Lender’s participation in the Loans or give the Agent notice of its intention to replace that Lender in
accordance with paragraph (d) below. 
  

	(b)	 On receipt of a notice of cancellation referred to in paragraph (a) above, the Commitment of that Lender
shall immediately be reduced to zero. 

  

	(c)	 On the last day of each Interest Period which ends after the Company has given notice of cancellation under
paragraph (a) above (or, if earlier, the date specified by the Company in that notice), each Borrower to which a Loan is outstanding shall repay that Lender’s participation in that Loan. 

 

	(d)	 If: 

  

	 	(i)	 any of the circumstances set out in paragraph (a) above apply to a Lender; or 

  
 24 

	 	(ii)	 an Obligor becomes obliged to pay any amount in accordance with Clause 7.1 (Illegality) to any Lender,

 the Company may, in the circumstances set out in paragraph (a) above, on five Business Days’ prior notice to
the Agent and that Lender, replace that Lender by requiring that Lender to (and, to the extent permitted by law, that Lender shall) transfer pursuant to Clause 23 (Changes to the Lenders) all (and not part only) of its rights and obligations under
this Agreement to a Lender or other bank, financial institution, trust, fund or other entity selected by the Company which confirms its willingness to assume and does assume all the obligations of the transferring Lender in accordance with Clause 23
(Changes to the Lenders) for a purchase price in cash or other cash payment payable at the time of the transfer in an amount equal to the outstanding principal amount of such Lender’s participation in the outstanding Loans and all accrued
interest (to the extent that the Agent has not given a notification under Clause 23.10 (Pro rata interest settlement)) and other amounts payable in relation thereto under the Finance Documents. 

 

	(e)	 The replacement of a Lender pursuant to paragraph (d) above shall be subject to the following conditions:

  

	 	(i)	 the Company shall have no right to replace the Agent; 

 

	 	(ii)	 neither the Agent nor any Lender shall have any obligation to find a replacement Lender; 

 

	 	(iii)	 in no event shall the Lender replaced under paragraph (d) above be required to pay or surrender any of the
fees received by such Lender pursuant to the Finance Documents; and 

  

	 	(iv)	 the Lender shall only be obliged to transfer its rights and obligations pursuant to paragraph (d) above once it
is satisfied that it has complied with all necessary ‘‘know your customer’’ or other similar checks under all applicable laws and regulations in relation to that transfer. 

 

	(f)	 A Lender shall perform the checks described in paragraph (e)(iv) above as soon as reasonably practicable
following delivery of a notice referred to in paragraph (d) above and shall notify the Agent and the Company when it is satisfied that it has complied with those checks. 

 

	(g)	 (i) If any Lender becomes a Defaulting Lender, the Company may, at any time whilst the Lender continues to be a
Defaulting Lender, give the Agent three Business Days’ notice of cancellation of the Available Commitment of that Lender. 

  

	 	(ii)	 On the notice referred to in paragraph (i) above becoming effective, the Available Commitment of the
Defaulting Lender shall immediately be reduced to zero. 

  

	 	(iii)	 The Agent shall as soon as practicable after receipt of a notice referred to in paragraph (i) above,
notify all the Lenders. 

  

	7.7	 Restrictions 

  

	(a)	 Any notice of cancellation or prepayment given by any Party under this Clause 7 shall be irrevocable and,
unless a contrary indication appears in this Agreement, shall specify the date or dates upon which the relevant cancellation or prepayment is to be made and the amount of that cancellation or prepayment. 

 

	(b)	 Any prepayment under this Agreement shall be made together with accrued interest on the amount prepaid and
without premium or penalty. 

  
 25 

	(c)	 Unless a contrary indication appears in this Agreement, any part of the Facility which is prepaid or repaid may
be reborrowed in accordance with the terms of this Agreement. 

  

	(d)	 The Borrowers shall not repay or prepay all or any part of the Loans or cancel all or any part of the
Commitments except at the times and in the manner expressly provided for in this Agreement. 

  

	(e)	 Subject to Clause 2.2 (Increase), no amount of the Total Commitments cancelled under this Agreement may be
subsequently reinstated. 

  

	(f)	 If the Agent receives a notice under this Clause 7, it shall promptly forward a copy of that notice to either
the Company or the affected Lender, as appropriate. 

  

	(g)	 If all or part of a Loan under the Facility is repaid or prepaid and is not available for redrawing (other than
by operation of Clause 4.2 (Further conditions precedent)), an amount of the Commitments (equal to the amount of the Loan which is repaid or prepaid) in respect of the Facility will be deemed to be cancelled on the date of repayment or prepayment.
Any cancellation under this paragraph (g) shall reduce the Commitments of the Lenders rateably under the Facility. 

  

	7.8	 Application of prepayments 

Any prepayment of a Loan pursuant to Clause 7.3 (Life of Mine) or Clause 7.5 (Voluntary prepayment of Loans) shall be applied pro rata to each
Lender’s participation in that Loan. 
  

	8.	 INTEREST 

  

	8.1	 Calculation of interest 

The rate of interest on each Loan for each Interest Period is the percentage rate per annum which is the aggregate of the applicable: 

 

	 	(a)	 Margin; and 

  

	 	(b)	 LIBOR. 

  

	8.2	 Payment of interest 

The Borrower to which a Loan has been made shall pay accrued interest on that Loan on the last day of each Interest Period (and, if the
Interest Period is longer than six Months, on the dates falling at six monthly intervals after the first day of the Interest Period). 
  

	8.3	 Default interest 

 

	(a)	 If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall
accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is the sum of 2% and the rate which would have been payable if the overdue amount
had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest
accruing under this Clause 8.3 shall be immediately payable by the Obligor on demand by the Agent. 

  

	(b)	 If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of
an Interest Period relating to that Loan: 

  

	 	(i)	 the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the
current Interest Period relating to that Loan; and 

  
 26 

	 	(ii)	 the rate of interest applying to the overdue amount during that first Interest Period shall be the sum of 2%
and the rate which would have applied if the overdue amount had not become due. 

  

	(c)	 Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end
of each Interest Period applicable to that overdue amount but will remain immediately due and payable. 

  

	8.4	 Notification of rates of interest 

 

	(a)	 The Agent shall promptly notify the Lenders and the relevant Borrower of the determination of a rate of
interest under this Agreement. 

  

	(b)	 The Agent shall promptly notify the relevant Borrower of each Funding Rate relating to a Loan.

  

	9.	 INTEREST PERIODS 

 

	9.1	 Selection of Interest Periods 

 

	(a)	 A Borrower (or the Company on behalf of a Borrower) may select an Interest Period for a Loan in the Utilisation
Request for that Loan. 

  

	(b)	 Subject to this Clause 9, a Borrower (or the Company) may select an Interest Period of one, two, three or six
Months or any other period agreed between the Company and the Agent (acting on the instructions of all the Lenders in relation to the relevant Loan). 

  

	(c)	 An Interest Period for a Loan shall not extend beyond the Termination Date. 

 

	(d)	 A Loan has one Interest Period only. 

 

	9.2	 Non-Business Days 

If an Interest Period would otherwise end on a day which is not a Business Day, that Interest Period will instead end on the next Business Day
in that calendar month (if there is one) or the preceding Business Day (if there is not). 
  

	10.	 CHANGES TO THE CALCULATION OF INTEREST 

 

	10.1	 Unavailability of Screen Rate 

 

	(a)	 Interpolated Screen Rate: If no Screen Rate is available for LIBOR for the Interest Period of a Loan,
the applicable LIBOR shall be the Interpolated Screen Rate for a period equal in length to the Interest Period of that Loan. 

  

	(b)	 Reference Bank Rate: If no Screen Rate is available for LIBOR for: 

 

	 	(i)	 U.S. dollars; or 

  

	 	(ii)	 the Interest Period of a Loan and it is not possible to calculate the Interpolated Screen Rate,

 the applicable LIBOR shall be the Reference Bank Rate as of the Specified Time for U.S. dollars and for a period equal
in length to the Interest Period of that Loan. 

  
 27 

	10.2	 Absence of quotations 

Subject to Clause 10.3 (Market disruption), if LIBOR is to be determined by reference to the Reference Banks but a Reference Bank does not
supply a quotation by the Specified Time on the Quotation Day, the applicable LIBOR shall be determined on the basis of the quotations of the remaining Reference Banks. 
  

	10.3	 Market disruption 

 

	(a)	 If a Market Disruption Event occurs in relation to a Loan for any Interest Period, then the rate of interest on
each Lender’s share of that Loan for the Interest Period shall be the percentage rate per annum which is the sum of: 

  

	 	(i)	 the Margin; and 

  

	 	(ii)	 the rate notified to the Agent by that Lender as soon as practicable and in any event prior to the date on
which interest is due to be paid in respect of that Interest Period, to be that which expresses as a percentage rate per annum the cost to that Lender of funding its participation in that Loan from whatever source it may reasonably select.

  

	(b)	 If a Market Disruption Event occurs the Agent shall, as soon as is practicable, notify the Company.

  

	(c)	 If this Clause 10.3 applies and: 

 

	 	(i)	 a Lender’s Funding Rate is less than LIBOR; or 

 

	 	(ii)	 a Lender does not supply a quotation by the time specified in paragraph (a)(ii) above, 

the cost to that Lender of funding its participation in that Loan for that Interest Period shall be deemed, for the purposes of paragraph
(a) above, to be LIBOR. 
  

	(d)	 In this Agreement Market Disruption Event means: 

 

	 	(i)	 at or about noon on the Quotation Day for the relevant Interest Period, LIBOR is to be determined by reference
to the Reference Banks and none or only one of the Reference Banks supplies a rate to the Agent to determine LIBOR for U.S. dollars for the relevant Interest Period; or 

 

	 	(ii)	 before close of business in London on the Quotation Day for the relevant Interest Period, the Agent receives
notifications from a Lender or Lenders (whose participations in a Loan exceed 35% of that Loan) that the cost to it of funding its participation in that Loan from whatever source it may reasonably select would be in excess of LIBOR.

  

	10.4	 Alternative basis of interest or funding 

 

	(a)	 If a Market Disruption Event occurs and the Agent or the Company so requires, the Agent and the Company shall
enter into negotiations (for a period of not more than 30 days) with a view to agreeing a substitute basis for determining the rate of interest. 

  

	(b)	 Any alternative basis agreed pursuant to paragraph (a) above shall, with the prior consent of all the
Lenders and the Company, be binding on all Parties. 

  
 28 

	11.	 FEES 

  

	11.1	 Commitment fee 

 

	(a)	 Subject to paragraph (b) below, the Company shall pay to the Agent (for the account of each Lender) a fee
in U.S. dollars computed at the rate of 0.5% per annum of that Lender’s Available Commitment for the Availability Period. 

  

	(b)	 No commitment fee shall accrue under paragraph (a) above prior to the earlier of (i) 21 September
2017 or (ii) the date of this Agreement. 

  

	(c)	 The accrued commitment fee is payable: 

 

	 	(i)	 on the last day of each successive period of three Months which ends during the Availability Period;

  

	 	(ii)	 on the last day of the Availability Period; and 

 

	 	(iii)	 if cancelled in full, on the cancelled amount of the relevant Lender’s Commitment at the time the
cancellation is effective. 

  

	(d)	 No commitment fee is payable to the Agent (for the account of a Lender) on any Available Commitment of that
Lender for any day on which that Lender is a Defaulting Lender. 

  

	11.2	 Arrangement fee 

The Company shall pay to the Arranger and Banco de Crédito del Perú an initial arrangement fee and a subsequent arrangement fee
in the amount and at the times agreed in a Fee Letter. 
  

	11.3	 Participation fee 

The Company shall pay to the Agent (for the account of each Lender) a participation fee in the amount and at the times agreed in a Fee Letter.

  

	11.4	 Agency fee 

The Company shall pay to the Agent (for its own account) an agency fee in the amount and at the times agreed in a Fee Letter. 

 

	11.5	 Security agency fee 

The Company shall pay to the Security Agent (for its own account) a security agency fee in the amount and at the times agreed in a Fee Letter.

  

	12.	 TAX GROSS-UP AND INDEMNITIES 

 

	12.1	 Definitions 

  

	(a)	 In this Agreement: 

Protected Party means a Finance Party which is or will be subject to any liability, or required to make any payment, for or on
account of Tax in relation to a sum received or receivable (or any sum deemed for the purposes of Tax to be received or receivable) under a Finance Document. 

Tax Credit means a credit against, relief or remission for, or repayment of any Tax. 

  
 29 

 Tax Deduction means a deduction or withholding for or on account of Tax from a
payment under a Finance Document, other than a FATCA Deduction. 
 Tax Payment means either the increase in a payment made by
an Obligor to a Finance Party under Clause 12.2 (Tax gross-up) or a payment under Clause 12.3 (Tax indemnity). 
  

	(b)	 Unless a contrary indication appears, in this Clause 12 a reference to ‘‘determines’’ or
‘‘determined’’ means a determination made in the absolute discretion of the person making the determination. 

  

	12.2	 Tax gross-up 

 

	(a)	 Each Obligor shall make all payments to be made by it without any Tax Deduction, unless a Tax Deduction is
required by law. 

  

	(b)	 The Company shall promptly upon becoming aware that an Obligor must make a Tax Deduction (or that there is any
change in the rate or the basis of a Tax Deduction) notify the Agent accordingly. Similarly, a Lender shall notify the Agent on becoming so aware in respect of a payment payable to that Lender. If the Agent receives such notification from a Lender
it shall notify the Company and that Obligor. 

  

	(c)	 If a Tax Deduction is required by law to be made by an Obligor, that Obligor shall either:

  

	 	(i)	 directly assume the impact of the applicable Tax Deduction on behalf of the relevant Lender pursuant to Article
47 of the Peruvian Income Tax Law (holding the relevant Lender harmless and indemnifying such Lender against any cost, loss or liability arising from such decision); or 

 

	 	(ii)	 increase the amount of the payment due from that Obligor to an amount which (after making any relevant Tax
Deduction) leaves an amount equal to the payment which would have been due if no Tax Deduction had been required. 

  

	(d)	 Any Tax Deduction made by an Obligor pursuant to paragraph (c) above and any payment required in
connection with that Tax Deduction shall be made within the time allowed and in the minimum amount required by law. 

  

	(e)	 If an Obligor is required to make a Tax Deduction, each Finance Party shall (if lawfully able to do so), as
soon as reasonably practicable upon written request of the Borrower, (i) provide such Obligor with properly self-completed and self-executed documentation and (ii) use all reasonable endeavours to obtain and provide the Borrower with
documentation properly completed and executed by third parties (including Governmental Authorities), necessary under applicable tax laws and regulations to enable that Obligor to make such Tax Deduction (and any payment required in connection with
that Tax Deduction) in the minimum amount applicable in accordance with applicable tax laws and regulations. Notwithstanding anything to the contrary contained herein, compliance with any request by an Obligor as set forth in this paragraph
(e) shall not apply to the extent that it would require disclosure by any Finance Party of information that is confidential or otherwise materially disadvantageous to disclose and would expose such Finance Party to any unindemnified cost, risk
or expense or be materially disadvantageous to it. Within 30 days of making either a Tax Deduction or any payment required in connection with that Tax Deduction, the Obligor making that Tax Deduction shall deliver to the Agent for the Finance Party
entitled to the payment evidence reasonably satisfactory to that Finance Party that the Tax Deduction has been made or (as applicable) any appropriate payment paid to the relevant taxing authority. 

  
 30 

	12.3	 Tax indemnity 

 

	(a)	 The Company shall (within three Business Days of demand by the Agent) pay to a Protected Party an amount equal
to the loss, liability or cost which that Protected Party determines will be or has been (directly or indirectly) suffered for or on account of Tax by that Protected Party in respect of a Finance Document. 

 

	(b)	 Paragraph (a) above shall not apply: 

 

	 	(i)	 with respect to any Tax assessed on a Finance Party: 

 

	 	(A)	 under the law of the jurisdiction in which that Finance Party is incorporated or, if different, the
jurisdiction (or jurisdictions) in which that Finance Party is treated as resident for tax purposes; or 

  

	 	(B)	 under the law of the jurisdiction in which that Finance Party’s Facility Office is located in respect of
amounts received or receivable in that jurisdiction, 

 if that Tax is imposed on or calculated by reference to the net
income received or receivable (but not any sum deemed to be received or receivable) by that Finance Party; or 
  

	 	(ii)	 to the extent a loss, liability or cost: 

 

	 	(A)	 is compensated for by an increased payment under Clause 12.2 (Tax
gross-up); or 

  

	 	(B)	 would have been compensated for by an increased payment under Clause 12.2 (Tax
gross-up) but was not so compensated solely because one of the exclusions in paragraph (d) of Clause 12.2 (Tax gross-up) applied; or 

 

	 	(C)	 relates to a FATCA Deduction required to be made by a Party. 

 

	(c)	 A Protected Party making, or intending to make, a claim under paragraph (a) above shall promptly notify
the Agent of the event which will give, or has given, rise to the claim, following which the Agent shall notify the Company. 

  

	(d)	 A Protected Party shall, on receiving a payment from an Obligor under this Clause 12.3, notify the Agent.

  

	12.4	 Tax Credit 

If an Obligor makes a Tax Payment and the relevant Finance Party determines that: 

 

	 	(a)	 a Tax Credit is attributable to an increased payment of which that Tax Payment forms part, to that Tax Payment
or to a Tax Deduction in consequence of which that Tax Payment was required; and 

  

	 	(b)	 that Finance Party has obtained and utilised that Tax Credit, 

the Finance Party shall pay an amount to the Obligor which that Finance Party determines will leave it (after that payment) in the same after-Tax position as it would have been in had the Tax Payment not been required to be made by the Obligor. 

  
 31 

	12.5	 Stamp taxes 

The Company shall pay and, within three Business Days of demand, indemnify each Finance Party against any cost, loss or liability that Finance
Party incurs in relation to all stamp duty, registration and other similar Taxes payable in respect of any Finance Document. 
  

	12.6	 VAT 

  

	(a)	 All amounts expressed to be payable under a Finance Document by any Party to a Finance Party which (in whole or
in part) constitute the consideration for any supply for VAT purposes are deemed to be exclusive of any VAT which is chargeable on that supply, and accordingly, subject to paragraph (b) below, if VAT is or becomes chargeable on any supply made
by any Finance Party to any Party under a Finance Document and such Finance Party is required to account to the relevant tax authority for the VAT, that Party must pay to such Finance Party (in addition to and at the same time as paying any other
consideration for such supply) an amount equal to the amount of the VAT (and such Finance Party must promptly provide an appropriate VAT invoice to that Party). 

 

	(b)	 If VAT is or becomes chargeable on any supply made by any Finance Party (the Supplier) to any other
Finance Party (the Recipient) under a Finance Document, and any Party other than the Recipient (the Relevant Party) is required by the terms of any Finance Document to pay an amount equal to the consideration for that supply to the
Supplier (rather than being required to reimburse or indemnify the Recipient in respect of that consideration): 

  

	 	(i)	 (where the Supplier is the person required to account to the relevant tax authority for the VAT) the Relevant
Party must also pay to the Supplier (at the same time as paying that amount) an additional amount equal to the amount of the VAT. The Recipient must (where this paragraph (i) applies) promptly pay to the Relevant Party an amount equal to any
credit or repayment the Recipient receives from the relevant tax authority which the Recipient reasonably determines relates to the VAT chargeable on that supply; and 

 

	 	(ii)	 (where the Recipient is the person required to account to the relevant tax authority for the VAT) the Relevant
Party must promptly, following demand from the Recipient, pay to the Recipient an amount equal to the VAT chargeable on that supply but only to the extent that the Recipient reasonably determines that it is not entitled to credit or repayment from
the relevant tax authority in respect of that VAT. 

  

	(c)	 Where a Finance Document requires any Party to reimburse or indemnify a Finance Party for any cost or expense,
that Party shall reimburse or indemnify (as the case may be) such Finance Party for the full amount of such cost or expense, including such part thereof as represents VAT, save to the extent that such Finance Party reasonably determines that it is
entitled to credit or repayment in respect of such VAT from the relevant tax authority. 

  

	(d)	 Any reference in this Clause 12.6 to any Party shall, at any time when such Party is treated as a member of a
group or unity (or fiscal unity) for VAT purposes, be construed as a reference to that Party or the relevant group or unity (or fiscal unity) of which that Party is a member for VAT purposes at the relevant time or the relevant representative member
(or head) of that group or unity (or fiscal unity) at the relevant time (as the case may be). 

  

	(e)	 In relation to any supply made by a Finance Party to any Party under a Finance Document, if reasonably
requested by such Finance Party, that Party must promptly provide such Finance Party with details of that Party’s VAT registration and such other information as is reasonably requested in connection with such Finance Party’s VAT reporting
requirements in relation to such supply. 

  
 32 

	12.7	 FATCA information 

 

	(a)	 Subject to paragraph (c) below, each Party shall, within ten Business Days of a reasonable request by
another Party: 

  

	 	(i)	 confirm to that other Party whether it is: 

 

	 	(A)	 a FATCA Exempt Party; or 

 

	 	(B)	 not a FATCA Exempt Party; 

 

	 	(ii)	 supply to that other Party such forms, documentation and other information relating to its status under FATCA
as that other Party reasonably requests for the purposes of that other Party’s compliance with FATCA; and 

  

	 	(iii)	 supply to that other Party such forms, documentation and other information relating to its status as that other
Party reasonably requests for the purposes of that other Party’s compliance with any other law, regulation, or exchange of information regime. 

  

	(b)	 If a Party confirms to another Party pursuant to paragraph (a)(i) above that it is a FATCA Exempt Party and it
subsequently becomes aware that it is not, or has ceased to be a FATCA Exempt Party, that Party shall notify that other Party reasonably promptly. 

  

	(c)	 Paragraph (a) above shall not oblige any Finance Party to do anything, and paragraph (a)(iii) above shall
not oblige any other Party to do anything, which would or might in its reasonable opinion constitute a breach of: 

  

	 	(i)	 any law or regulation; 

 

	 	(ii)	 any fiduciary duty; or 

 

	 	(iii)	 any duty of confidentiality. 

 

	(d)	 If a Party fails to confirm whether or not it is a FATCA Exempt Party or to supply forms, documentation or
other information requested in accordance with paragraph (a)(i) or (a)(ii) above (including, for the avoidance of doubt, where paragraph (c) above applies), then such Party shall be treated for the purposes of the Finance Documents (and
payments under them) as if it is not a FATCA Exempt Party until such time as the Party in question provides the requested confirmation, forms, documentation or other information. 

 

	12.8	 FATCA Deduction 

 

	(a)	 Each Party may make any FATCA Deduction it is required to make by FATCA, and any payment required in connection
with that FATCA Deduction, and no Party shall be required to increase any payment in respect of which it makes such a FATCA Deduction or otherwise compensate the recipient of the payment for that FATCA Deduction. 

 

	(b)	 Each Party shall promptly, upon becoming aware that it must make a FATCA Deduction (or that there is any change
in the rate or the basis of such FATCA Deduction), notify the Party to whom it is making the payment and, in addition, shall notify the Company and the Agent and the Agent shall notify the other Finance Parties. 

  
 33 

	13.	 INCREASED COSTS 

 

	13.1	 Increased Costs 

 

	(a)	 Subject to Clause 13.3 (Exceptions) the Company shall, within three Business Days of a demand by the Agent, pay
for the account of a Finance Party the amount of any Increased Costs incurred by that Finance Party or any of its Affiliates as a result of (i) the introduction of or any change in (or in the interpretation, administration or application of)
any law or regulation; (ii) compliance with any law or regulation made after the date of this Agreement; or, (iii) to the extent that the relevant Finance Party is claiming such costs under its loan agreements with other similar borrowers
in relation to similar facilities (where the class of similar borrowers and similar facilities is reasonably determined by the Lender and it is permitted to claim such Basel III Cost under the terms of such facilities), the implementation or
application of or compliance with Basel III or CRD IV or any other law or regulation which implements Basel III or CRD IV (whether such implementation, application or compliance is by a government, regulator, Finance Party or any of its Affiliates)
(a Basel III Cost). 

  

	(b)	 In this Agreement: 

  

	 	(i)	 Basel III means the global regulatory framework on bank capital and liquidity 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 in December 2010 each as amended, and any other documents published by the Basel Committee in relation to
‘‘Basel III’’. 

  

	 	(ii)	 CRD IV means (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 amending Regulation (EU No 648/2012) 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, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC2. 

 

	 	(iii)	 Increased Costs means: 

 

	 	(A)	 a reduction in the rate of return from the Facility or on a Finance Party’s (or its Affiliate’s)
overall capital; 

  

	 	(B)	 an additional or increased cost; or 

 

	 	(C)	 a reduction of any amount due and payable under any Finance Document, 

which is incurred or suffered by a Finance Party or any of its Affiliates to the extent that it is attributable to that Finance Party having
entered into its Commitment or funding or performing its obligations under any Finance Document. 
  

	13.2	 Increased Cost claims 

 

	(a)	 A Finance Party intending to make a claim pursuant to Clause 13.1 (Increased Costs), shall notify the Agent of
the event giving rise to the claim, following which the Agent shall promptly notify the Company. 

  

	(b)	 Each Finance Party shall, as soon as practicable after a demand by the Agent, provide a certificate confirming
the amount of its Increased Costs. 

  
 34 

	13.3	 Exceptions 

  

	(a)	 Clause 13.1 (Increased Costs) does not apply to the extent any Increased Cost is: 

 

	 	(i)	 attributable to a Tax Deduction required by law to be made by an Obligor; 

 

	 	(ii)	 attributable to a FATCA Deduction required to be made by a Party; 

 

	 	(iii)	 compensated for by Clause 12.3 (Tax indemnity) (or would have been compensated for under Clause 12.3 (Tax
indemnity) but was not so compensated solely because any of the exclusions in paragraph (b) of Clause 12.3 (Tax indemnity) applied); 

  

	 	(iv)	 attributable to the wilful breach by the relevant Finance Party or its Affiliates of any law or regulation;

  

	 	(v)	 attributable to a Basel III Cost unless: 

 

	 	(A)	 the Lender confirms to the Borrower that such Basel III Cost was not reasonably foreseeable or not capable of
being calculated with sufficient accuracy as at the date of this Agreement due to a lack of clarity or detail in Basel III and/or CRD IV or any related information from a banking regulator available as at the date of this Agreement; or

  

	 	(B)	 the Lender confirms to the Borrower that it is claiming such a Basel III Cost to a similar extent from similar
borrowers in relation to similar facilities (where the class of similar borrowers and similar facilities is reasonably determined by the Lender and it is permitted to claim such Basel III Cost under the terms of such facilities); or

  

	 	(vi)	 attributable to the implementation or application of or compliance with the ‘‘International
Convergence of Capital Measurement and Capital Standards, a Revised Framework’’ published by the Basel Committee on Banking Supervision in June 2004 in the form existing on the date of this Agreement (but excluding any amendment arising
out of Basel III) (Basel II) or any other law or regulation which implements Basel II (whether such implementation, application or compliance is by a government, regulator, Finance Party or any of its Affiliates).

  

	(b)	 In this Clause 13.3, a reference to a Tax Deduction has the same meaning given to the term in Clause
12.1 (Definitions). 

  

	14.	 OTHER INDEMNITIES 

 

	14.1	 Currency indemnity 

 

	(a)	 If any sum due from an Obligor under the Finance Documents (a Sum), or any order, judgment or award
given or made in relation to a Sum, has to be converted from the currency (the First Currency) in which that Sum is payable into another currency (the Second Currency) for the purpose of: 

 

	 	(i)	 making or filing a claim or proof against that Obligor; 

 

	 	(ii)	 obtaining or enforcing an order, judgment or award in relation to any litigation or arbitration proceedings,

  
 35 

 that Obligor shall as an independent obligation, within three Business Days of demand,
indemnify each Finance Party to whom that Sum is due against any cost, loss or liability arising out of or as a result of the conversion including any discrepancy between (A) the rate of exchange used to convert that Sum from the First Currency
into the Second Currency and (B) the rate or rates of exchange available to that person at the time of its receipt of that Sum. 
  

	(b)	 Each Obligor waives any right it may have in any jurisdiction to pay any amount under the Finance Documents in
a currency or currency unit other than that in which it is expressed to be payable. 

  

	14.2	 Other indemnities 

The Company shall (or shall procure that an Obligor will), within three Business Days of demand, indemnify each Finance Party against any cost,
loss or liability incurred by that Finance Party as a result of: 
  

	 	(a)	 the occurrence of any Event of Default; 

 

	 	(b)	 a failure by an Obligor to pay any amount due under a Finance Document on its due date, including without
limitation, any cost, loss or liability arising as a result of Clause 27 (Sharing among the Finance Parties); 

  

	 	(c)	 funding, or making arrangements to fund, its participation in a Loan requested by a Borrower in a Utilisation
Request but not made by reason of the operation of any one or more of the provisions of this Agreement (other than by reason of default or negligence by that Finance Party alone); or 

 

	 	(d)	 a Loan (or part of a Loan) not being prepaid in accordance with a notice of prepayment given by a Borrower or
the Company. 

  

	14.3	 Indemnity to the Agent 

The Company and each Obligor jointly and severally shall promptly indemnify the Agent against any cost, loss or liability incurred by the Agent
(acting reasonably) as a result of: 
  

	 	(a)	 investigating any event which it reasonably believes is a Default; or 

 

	 	(b)	 acting or relying on any notice, request or instruction which it reasonably believes to be genuine, correct and
appropriately authorised; or 

  

	 	(c)	 instructing lawyers, accountants, tax advisers, surveyors or other professional advisers or experts as
permitted under this Agreement; or 

  

	 	(d)	 acting as Agent under the Finance Documents (otherwise than by reason of its gross negligence or wilful
misconduct). 

  

	14.4	 Indemnity to the Security Agent 

The Company and each Obligor jointly and severally shall promptly indemnify the Security Agent and any Receiver or Delegate against any cost,
loss or liability incurred by the Security Agent and any Receiver or Delegate (acting reasonably) as a result of: 
  

	 	(a)	 any failure by the Company to comply with its obligations under Clause 16 (Costs and Expenses); or

  
 36 

	 	(b)	 acting or relying on any notice, request or instruction which it reasonably believes to be genuine, correct and
appropriately authorised; or 

  

	 	(c)	 taking, holding, protecting or enforcing any Security created pursuant to any Finance Document; or

  

	 	(d)	 exercising or purporting to exercise any of the rights, powers, discretions, authorities or remedies vested in
it under any Finance Document or by law; or 

  

	 	(e)	 any default by any Obligor in the performance of any of the obligations expressed to be assumed by it in the
Finance Documents; or 

  

	 	(f)	 acting as Security Agent, Receiver or Delegate under the Finance Documents or which otherwise relates to any of
the Security Property (otherwise than by reason of its gross negligence or wilful misconduct). 

  

	15.	 MITIGATION BY THE LENDERS 

 

	15.1	 Mitigation 

  

	(a)	 Each Finance Party shall, in consultation with the Company, take all reasonable steps to mitigate any
circumstances which arise and which would result in any amount becoming payable under or pursuant to, or cancelled pursuant to, any of Clause 7.1 (Illegality), Clause 12 (Tax Gross-Up and Indemnities) or
Clause 13 (Increased Costs) including (but not limited to) transferring its rights and obligations under the Finance Documents to another Affiliate or Facility Office. 

 

	(b)	 Paragraph (a) above does not in any way limit the obligations of any Obligor under the Finance Documents.

  

	15.2	 Limitation of liability 

 

	(a)	 The Company shall promptly indemnify each Finance Party for all costs and expenses reasonably incurred by that
Finance Party as a result of steps taken by it under Clause 15.1 (Mitigation). 

  

	(b)	 A Finance Party is not obliged to take any steps under Clause 15.1 (Mitigation) if, in the opinion of that
Finance Party (acting reasonably), to do so might be prejudicial to it. 

  

	16.	 COSTS AND EXPENSES 

 

	16.1	 Transaction expenses 

The Company shall promptly on demand pay the Agent, the Security Agent and the Arranger the amount of all costs and expenses (including legal
fees subject to the agreed caps) reasonably incurred and documented by any of them in connection with: the negotiation, preparation, printing, execution and syndication of: 
  

	 	(a)	 this Agreement and any other documents referred to in this Agreement; and 

 

	 	(b)	 any other Finance Documents executed after the date of this Agreement, 

provided that any expenses or costs individually in excess of U.S.$3,000 (or the equivalent in another currency) will be subject to the prior
written approval of the Company. 

  
 37 

	16.2	 Amendment costs 

If (a) an Obligor requests an amendment, waiver or consent or (b) an amendment is required pursuant to Clause 28.10 (Change of
currency), the Company shall, within three Business Days of demand, reimburse the Agent and the Security Agent for the amount of all costs and expenses (including legal fees) reasonably incurred and documented by the Agent or the Security Agent in
responding to, evaluating, negotiating or complying with that request or requirement provided that any expenses or costs individually in excess of U.S.$3,000 (or the equivalent in another currency) will be subject to the prior written approval of
the Company. 
  

	16.3	 Enforcement costs 

The Company shall, within three Business Days of demand, pay to each Finance Party the amount of all costs and expenses (including legal fees)
reasonably incurred and documented by that Finance Party in connection with the enforcement of, or the preservation of any rights under, any Finance Document. 
  

	16.4	 Security Agent expenses 

The Company shall promptly on demand pay the Security Agent the amount of all costs and expenses (including legal fees) reasonably incurred and
documented by it in connection with the administration or release of any Security created pursuant to any Security Document. 
  

	17.	 GUARANTEE AND INDEMNITY 

 

	17.1	 Guarantee and indemnity 

Each Guarantor irrevocably and unconditionally jointly and severally: 
  

	 	(a)	 guarantees to each Finance Party punctual performance by each Borrower of all that Borrower’s obligations
under the Finance Documents; 

  

	 	(b)	 undertakes with each Finance Party that whenever a Borrower does not pay any amount when due under or in
connection with any Finance Document, that Guarantor shall immediately on demand pay that amount as if it was the principal obligor; and 

  

	 	(c)	 agrees with each Finance Party that if any obligation guaranteed by it is or becomes unenforceable, invalid or
illegal, it will, as an independent and primary obligation, indemnify that Finance Party immediately on demand against any cost, loss or liability it incurs as a result of a Borrower not paying any amount which would, but for such unenforceability,
invalidity or illegality, have been payable by it under any Finance Document on the date when it would have been due. The amount payable by a Guarantor under this indemnity will not exceed the amount it would have had to pay under this Clause 17 if
the amount claimed had been recoverable on the basis of a guarantee. 

  

	17.2	 Continuing guarantee 

This guarantee is a continuing guarantee and will extend to the ultimate balance of sums payable by any Obligor under the Finance Documents,
regardless of any intermediate payment or discharge in whole or in part. 

  
 38 

	17.3	 Reinstatement 

If any discharge, release or arrangement (whether in respect of the obligations of any Obligor or any security for those obligations or
otherwise) is made by a Finance Party in whole or in part on the basis of any payment, security or other disposition which is avoided or must be restored in insolvency, liquidation, administration or otherwise, without limitation, then the liability
of each Guarantor under this Clause 17 will continue or be reinstated as if the discharge, release or arrangement had not occurred. 
  

	17.4	 Waiver of defences 

The obligations of each Guarantor under this Clause 17 will not be affected by an act, omission, matter or thing which, but for this Clause 17,
would reduce, release or prejudice any of its obligations under this Clause 17 (without limitation and whether or not known to it or any Finance Party) including: 
  

	 	(a)	 any time, waiver or consent granted to, or composition with, any Obligor or other person;

  

	 	(b)	 the release of any other Obligor or any other person under the terms of any composition or arrangement with any
creditor of any member of the Group; 

  

	 	(c)	 the taking, variation, compromise, exchange, renewal or release of, or refusal or neglect to perfect, take up
or enforce, any rights against, or security over assets of, any Obligor or other person or any non-presentation or non-observance of any formality or other requirement
in respect of any instrument or any failure to realise the full value of any security; 

  

	 	(d)	 any incapacity or lack of power, authority or legal personality of or dissolution or change in the members or
status of an Obligor or any other person; 

  

	 	(e)	 any amendment, novation, supplement, extension, restatement (however fundamental and whether or not more
onerous) or replacement of any Finance Document or any other document or security, including without limitation any change in the purpose of, any extension of or any increase in any facility or the addition of any new facility under any Finance
Document or other document or security; 

  

	 	(f)	 any unenforceability, illegality or invalidity of any obligation of any person under any Finance Document or
any other document or security; or 

  

	 	(g)	 any insolvency or similar proceedings. 

 

	17.5	 Guarantor intent 

Without prejudice to the generality of Clause 17.4 (Waiver of defences), each Guarantor expressly confirms that it intends that this guarantee
shall extend from time to time to any (however fundamental) variation, increase, extension or addition of or to any of the Finance Documents and/or any facility or amount made available under any of the Finance Documents for the purposes of or in
connection with any of the following: business acquisitions of any nature; increasing working capital; enabling investor distributions to be made; carrying out restructurings; refinancing existing facilities; refinancing any other indebtedness;
making facilities available to new borrowers; any other variation or extension of the purposes for which any such facility or amount might be made available from time to time; and any fees, costs and/or expenses associated with any of the foregoing.

  
 39 

	17.6	 Immediate recourse 

Each Guarantor waives any right it may have of first requiring any Finance Party (or any trustee or agent on its behalf) to proceed against or
enforce any other rights or security or claim payment from any person before claiming from that Guarantor under this Clause 17. This waiver applies irrespective of any law or any provision of a Finance Document to the contrary. 

 

	17.7	 Appropriations 

Until all amounts which may be or become payable by the Obligors under or in connection with the Finance Documents have been irrevocably paid
in full, each Finance Party (or any trustee or agent on its behalf) may: 
  

	 	(a)	 refrain from applying or enforcing any other moneys, security or rights held or received by that Finance Party
(or any trustee or agent on its behalf) in respect of those amounts, or apply and enforce the same in such manner and order as it sees fit (whether against those amounts or otherwise) and no Guarantor shall be entitled to the benefit of the same;
and 

  

	 	(b)	 hold in an interest-bearing suspense account any moneys received from any Guarantor or on account of any
Guarantor’s liability under this Clause 17. 

  

	17.8	 Deferral of Guarantors’ rights 

Until all amounts which may be or become payable by the Obligors under or in connection with the Finance Documents have been irrevocably paid
in full and unless the Agent (or, as the case may be, the Security Agent) otherwise directs, no Guarantor will exercise any rights which it may have by reason of performance by it of its obligations under the Finance Documents or by reason of any
amount being payable, or liability arising, under this Clause 17: 
  

	 	(a)	 to be indemnified by an Obligor; 

 

	 	(b)	 to claim any contribution from any other guarantor of any Obligor’s obligations under the Finance
Documents; 

  

	 	(c)	 to take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any rights of the
Finance Parties under the Finance Documents or of any other guarantee or security taken pursuant to, or in connection with, the Finance Documents by any Finance Party; 

 

	 	(d)	 to bring legal or other proceedings for an order requiring any Obligor to make any payment, or perform any
obligation, in respect of which any Guarantor has given a guarantee, undertaking or indemnity under Clause 17.1 (Guarantee and indemnity); 

  

	 	(e)	 to exercise any right of set-off against any Obligor; and/or

  

	 	(f)	 to claim or prove as a creditor of any Obligor in competition with any Finance Party. 

If a Guarantor receives any benefit, payment or distribution in relation to such rights it shall hold that benefit, payment or distribution to
the extent necessary to enable all amounts which may be or become payable to the Finance Parties by the Obligors under or in connection with the Finance Documents to be repaid in full on trust for the Finance Parties and shall promptly pay or
transfer the same to the Agent or as the Agent may direct for application in accordance with Clause 28 (Payment Mechanics). 

  
 40 

	17.9	 Release of Guarantors’ right of contribution 

If any Guarantor (a Retiring Guarantor) ceases to be a Guarantor in accordance with the terms of the Finance Documents for the purpose
of any sale or other disposal of that Retiring Guarantor then on the date such Retiring Guarantor ceases to be a Guarantor: 
  

	 	(a)	 that Retiring Guarantor is released by each other Guarantor from any liability (whether past, present or future
and whether actual or contingent) to make a contribution to any other Guarantor arising by reason of the performance by any other Guarantor of its obligations under the Finance Documents; and 

 

	 	(b)	 each other Guarantor waives any rights it may have by reason of the performance of its obligations under the
Finance Documents to take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any rights of the Finance Parties under any Finance Document or of any other security taken pursuant to, or in connection with, any Finance
Document where such rights or security are granted by or in relation to the assets of the Retiring Guarantor. 

  

	17.10	 Additional security 

This guarantee is in addition to and is not in any way prejudiced by any other guarantee or security now or subsequently held by any Finance
Party. 
  

	18.	 REPRESENTATIONS 

Each Obligor makes the representations and warranties set out in this Clause 18 to each Finance Party on the date of this Agreement. 

 

	18.1	 Status 

  

	(a)	 It is a corporation, duly incorporated and validly existing under the law of its jurisdiction of incorporation.

  

	(b)	 It has the power to own its assets and carry on its business as it is being conducted or is contemplated to be
conducted. 

  

	18.2	 Power and authority 

It has the power to enter into and perform, and has taken all necessary action to authorise its entry into, and performance of, the Finance
Documents to which it is a party and the transactions contemplated by those Finance Documents. 
  

	18.3	 Binding obligations 

 

	(a)	 The Finance Documents to which it is a party have been duly executed and delivered on its behalf on or around
the date of this Agreement. 

  

	(b)	 The obligations expressed to be assumed by it in each Finance Document to which it is a party are legal, valid,
binding and enforceable obligations subject to any general principles of law limiting its obligations which are specifically referred to in any legal opinion delivered pursuant to Clause 4 (Conditions of Utilisation) or Clause 24 (Changes to the
Obligors). 

  

	(c)	 The Concentrate Sale Agreements in force as at the date of this Agreement are governed by either English or
Peruvian law. 

  
 41 

	18.4	 Non-conflict with other obligations 

The entry into and performance by it of, and the transactions contemplated by, the Finance Documents to which it is a party do not and will not
conflict with: 
  

	 	(a)	 any law or regulation applicable to it; 

 

	 	(b)	 its constitutional documents; or 

 

	 	(c)	 any material agreement or instrument binding upon it or any of its assets, 

 

	18.5	 Validity and admissibility in evidence 

All Authorisations required: 
  

	 	(a)	 to enable it lawfully to enter into, exercise its rights and comply with its obligations under the Finance
Documents to which it is a party other than any registration in Peruvian public registries required under the Security; and 

  

	 	(b)	 to make the Finance Documents to which it is a party admissible in evidence in its jurisdiction of
incorporation, 

 have been obtained or effected and are in full force and effect. 

 

	18.6	 No filing or stamp taxes 

Except to the extent set out in any legal opinion provided pursuant to the Finance Documents under the law of its jurisdiction of
incorporation, it is not necessary that the Finance Documents to which it is a party be filed, recorded or enrolled with any court or other authority in that jurisdiction or that any stamp, registration or similar tax be paid on or in relation to
the Finance Documents to which it is a party or the transactions contemplated by the Finance Documents to which it is a party. 
  

	18.7	 No Event of Default 

 

	(a)	 No Event of Default has occurred or is continuing or might reasonably be expected to result from the making of
any Utilisation. 

  

	(b)	 No other event or circumstance is outstanding which constitutes a default under any other agreement or
instrument which is binding on it or to which its assets are subject, which might have a Material Adverse Effect. 

  

	18.8	 No misleading information 

To the best of its knowledge and belief: 
  

	 	(a)	 all written information provided by or on behalf of it to the Arranger, in connection with the Finance
Documents to which it is a party, was true and accurate in all material respects as at the date it was provided or as at the date (if any) at which it is stated and was not misleading in any material respect at such date; and 

 

	 	(b)	 there is no fact known to it that could reasonably be expected to have a Material Adverse Effect that has not
been expressly disclosed in the Finance Documents or in any other documents or certificates or information provided to the Agent for use in connection with the transactions contemplated in the Finance Documents. 

  
 42 

	18.9	 Financial statements 

 

	 	(a)	 The Original Financial Statements were prepared in accordance with IFRS. 

 

	 	(b)	 The Original Financial Statements fairly represent its financial condition and its results of operations during
the relevant financial year of the Company. 

  

	18.10	 No proceedings pending or threatened 

No litigation, investigation, arbitration or administrative proceedings of or before any court, arbitral body or government agency is pending
or, on the date of this Agreement only and to the best of its knowledge and belief, is threatened against it, which, in each case is reasonably likely to be adversely determined and, if adversely determined, could reasonably be expected to have a
Material Adverse Effect. 
  

	18.11	 No winding up 

It has not taken any corporate action, nor has any corporate action or any other steps been taken or legal proceedings started or (to the best
of its knowledge and belief, after due enquiry) threatened against it, for its winding-up, dissolution, administration or re-organisation, or for the enforcement of any
Security or Quasi-Security (as defined in Clause 21.3 (Negative pledge)) over all or any of its revenues or assets or for the appointment of a receiver, administrator, administrative receiver, conservator, custodian, trustee or similar officer of it
or of all or any of its assets. 
  

	18.12	 No Security 

No Security or Quasi-Security (as defined in Clause 21.3 (Negative pledge)) exists over all or any of its assets, except for Permitted
Security. 
  

	18.13	 Assets 

It has good and valid title to, valid rights to lease or validly leases or licenses all of the assets necessary and has all consents and/or
Authorisations necessary to carry on its business as conducted to the extent that failure to comply with this representation could reasonably be expected to have a Material Adverse Effect. 

 

	18.14	 Insurance 

It maintains insurances on and in relation to its business, properties and assets against those risks to the extent that are usual for
companies in the jurisdiction in which it conducts its business carrying on a substantially similar business in such jurisdiction. 
  

	18.15	 Environmental compliance 

To the best of its belief and knowledge, it has adopted and complies with an environmental policy which requires monitoring of and compliance
with all applicable Environmental Laws and environmental permits applicable to it from time to time unless non-compliance with such policy could not reasonably be expected to cause a Material Adverse Effect.

  

	18.16	 Environmental Claim 

No Environmental Claim (not of a frivolous or vexatious nature) has been commenced or (to the best of its knowledge and belief) is threatened
against it where that claim would reasonably be, if determined against it, expected to have a Material Adverse Effect. 

  
 43 

	18.17	 Taxation 

  

	(a)	 It has paid when due all Taxes required to be paid by it without the imposition of any penalty other than any
Taxes: 

  

	 	(i)	 being contested in good faith and in accordance with relevant proceedings; 

 

	 	(ii)	 for which adequate reserves are being maintained in accordance with IFRS; and 

 

	 	(iii)	 where payment can be lawfully withheld. 

 

	(b)	 It is not materially overdue in the filing of any Tax returns. 

 

	18.18	 Labour matters 

To the best of its belief and knowledge, it complies in all material aspects with the labour rules and regulations applicable to it. 

 

	18.19	 No Material Adverse Effect 

There has been no change in its business, condition (financial or otherwise), operations, performance or properties since the date of the
Original Financial Statements, which could reasonably be expected to have a Material Adverse Effect. 
  

	18.20	 Immunity 

It does not, under the applicable laws of its place of incorporation, have any immunity in respect of the jurisdiction of any court, arbitrator
or tribunal whatsoever or in respect of any legal proceeding or complaint. 
  

	18.21	 Bankruptcy proceedings 

It has not voluntarily filed any bankruptcy proceedings under any applicable laws, and, to the best of its knowledge, no third party has
initiated any such bankruptcy proceedings against it, and is not involved in any dealings to achieve a general refinancing of its obligations. 
  

	18.22	 Establishment 

For the purposes of The Council of the European Union Regulation No. 1346/2000 on Insolvency Proceedings (the Regulation) it has no
‘‘establishment’’ (as that term is used in Article 2(h) of the Regulation) in the United Kingdom. 
  

	18.23	 Sanctions and Anti-Corruption 

 

	(a)	 For the purpose of this clause 18.23, ‘‘Subsidiary’’ means, in relation to the Obligor, a
company or corporation: 

  

	 	(i)	 which is controlled, directly or indirectly, by the Obligor; 

 

	 	(ii)	 more than half the issued share capital of which is beneficially owned, directly or indirectly by the Obligor;
or 

  

	 	(iii)	 which is a Subsidiary of another Subsidiary of the Obligor, 

  
 44 

 and for this purpose, a company or corporation shall be treated as being controlled by the
Obligor if the Obligor is able to direct its affairs and/or to control the composition of its board of directors or equivalent body. 
  

	(b)	 Neither the Obligor nor any Subsidiary of the Obligor, nor any director, employee or officer of the Obligor or
any Subsidiary of the Obligor, nor to the best of the Obligor’s knowledge and belief, any agent, affiliate or representative of the Obligor or any Subsidiary of the Obligor is an individual or entity currently the subject or target of any
Sanctions (in place as at the date of this Agreement) nor is the Obligor or any Subsidiary of the Obligor located, organised, resident or operating in any Sanctioned Country (designated as such as at the date of this Agreement).

  

	(c)	 For the past five years, neither the Obligor nor any Subsidiary of the Obligor has knowingly engaged in, nor is
now knowingly engaged in any dealings or transactions with any person that at the time of the dealing or transaction is or was the subject or the target of Sanctions or with any Sanctioned Country. 

 

	(d)	 Each Obligor and Subsidiary of the Obligor has conducted its businesses in compliance with applicable
Anti-Corruption Laws and has instituted policies and procedures designed to promote and achieve compliance with such laws. 

  

	18.24	 Repetition 

  

	(a)	 The Repeating Representations are deemed to be made by each Obligor by reference to the facts and circumstances
then existing on: 

  

	 	(i)	 the date of each Utilisation Request and the first day of each Interest Period; and 

 

	 	(ii)	 in the case of an Additional Obligor, the day on which the company becomes (and on which it is proposed that
the company becomes) an Additional Obligor. 

  

	(b)	 References to the Original Financial Statements shall, for the purposes of any repetition, be construed as
references to the most recent audited consolidated financial statements of the Company delivered to the Agent. 

  

	19.	 INFORMATION UNDERTAKINGS 

The undertakings in this Clause 19 remain in force from the date of this Agreement for so long as any amount is outstanding under the Finance
Documents or any Commitment is in force. 
  

	19.1	 Financial statements 

The Company shall supply to the Agent: 
  

	 	(a)	 as soon as the same become available, but in any event within 120 days after the end of each of its financial
years, the audited consolidated financial statements of the Company for that financial year together with those of each Obligor; and 

  

	 	(b)	 as soon as the same become available, but in any event within 60 days after the first six months of each of its
financial years, the unaudited consolidated financial statements of the Company for the first six month period of that financial year together with those of each Obligor. 

  
 45 

	19.2	 Compliance Certificate 

 

	(a)	 The Company shall supply to the Agent, with each set of consolidated financial statements delivered pursuant to
paragraph (a) or paragraph (b) of Clause 19.1 (Financial statements), a Compliance Certificate setting out (in reasonable detail) computations as to compliance with Clause 20 (Financial Covenants) as at the date at which those financial
statements were drawn up. 

  

	(b)	 Each Compliance Certificate shall be signed by two directors or executive officers of the Company and, if
required to be delivered with the audited consolidated financial statements, delivered pursuant to paragraph (a) of Clause 19.1 (Financial statements), by the auditors. 

 

	19.3	 Requirements as to financial statements 

 

	(a)	 Each set of financial statements delivered by the Company pursuant to Clause 19.1 (Financial statements) shall
be certified by a director of the Company as fairly representing its financial condition as at the date at which those financial statements were drawn up. 

  

	(b)	 The Company shall procure that each set of financial statements delivered pursuant to Clause 19.1 (Financial
statements) is complete and correct in all material respects and shall be prepared in reasonable detail in accordance with IFRS, the requirements of its jurisdiction of incorporation and accounting practices and financial reference periods
consistent with those applied in the preparation of the Original Financial Statements. 

  

	(c)	 Paragraph (b) above shall not apply to the extent that, in relation to any sets of financial statements,
the Company notifies the Agent that there has been a change in IFRS or the accounting practices or reference periods and its auditors (in the case of its annual audited financial statements) or the Company (in the case of any of its other financial
statements) delivers to the Agent: 

  

	 	(i)	 a description of any change necessary for those financial statements to reflect IFRS, accounting practices and
reference periods upon which the Original Financial Statements were prepared; and 

  

	 	(ii)	 sufficient information, in form and substance as may be reasonably required by the Agent, to enable the Agent
to determine whether Clause 20 (Financial Covenants) has been complied with and make an accurate comparison between the financial position indicated in those financial statements and that Obligor’s Original Financial Statements.

  

	(d)	 If the Company notifies the Agent of a change in accordance with paragraph (c) above then the Company and
the Agent shall enter into negotiations in good faith with a view to agreeing: 

  

	 	(i)	 whether or not the change might result in material alteration in the commercial effect of any of the terms of
the Finance Documents; and 

  

	 	(ii)	 if so, any amendments to the Finance Documents which may be necessary to ensure that the change does not result
in any material alteration in the commercial effect of those terms, 

 and if any amendments are agreed they shall take
effect and be binding on each of the Parties in accordance with their terms. 
  

	19.4	 Access to records 

At any time after the occurrence of an Event of Default and for so long as it is continuing, upon the request of the Agent, the Company shall
provide to the Agent or any of its representatives and professional advisors such access to the Company’s records (including its general ledger), books and assets as that person may require at reasonable time and upon reasonable notice. 

  
 46 

	19.5	 Information: miscellaneous 

The Company shall supply to the Agent, if the Agent so requests: 
  

	 	(a)	 all documents dispatched by the Obligors to their shareholders (or any class of them) or their creditors
generally at the same time as they are dispatched; 

  

	 	(b)	 promptly, such further information (including an extract of its general ledger) regarding the financial
condition, business and operations of the Obligors as any Lender (through the Agent) may reasonably request. 

  

	19.6	 Life of Mine Plan 

The Company shall annually supply the Life of Mine Plan to the Agent within 90 days after the Company’s management has approved it. 

 

	19.7	 Reserves Report 

The Company shall supply the Reserves Report to the Agent prior to the second anniversary of the date of this Agreement. 

 

	19.8	 Notices 

The Company shall immediately give notice to the Agent and each Lender of: 

 

	 	(a)	 the occurrence of an Event of Default promptly upon becoming aware of its occurrence. Promptly upon a request
by the Agent, the Company shall supply to the Agent a certificate signed by two of its directors or senior officers on its behalf certifying that no Event of Default is continuing (or if continuing, specifying the ongoing event or circumstances and
the steps, if any, being taken to remedy it); 

  

	 	(b)	 the details of any litigation, arbitration or administrative proceedings which are current or, to the best of
the Company’s knowledge, threatened or pending against any Obligor which, are reasonably likely to be adversely determined and, if so adversely determined against it, could reasonably be expected to have a Material Adverse Effect;

  

	 	(c)	 the details of any material Environmental Claim (not of a frivolous or vexatious nature) that has been
commenced or (to the best of its knowledge and belief) that is threatened against any Obligor, or of any facts or circumstances which will or are reasonably likely to result in any Environmental Claim (not of a frivolous or vexatious nature) being
commenced or threatened against any Obligor; 

  

	 	(d)	 a breach of any financial covenant described in Clause 20 (Financial Covenants); and 

 

	 	(e)	 registration by any Obligor of an ‘‘establishment’’ in the United Kingdom (as that term is
used in Article 2(h) of The Council of the European Union Regulation No 1346/2000 on Insolvency Proceedings). 

  
 47 

	19.9	 Use of websites 

 

	(a)	 The Company may satisfy its obligation under this Agreement to deliver any information in relation to those
Lenders (the Website Lenders) who accept this method of communication by posting this information onto an electronic website designated by the Company and the Agent (the Designated Website) if: 

 

	 	(i)	 the Agent expressly agrees (after consultation with each of the Lenders) that it will accept communication of
the information by this method; 

  

	 	(ii)	 both the Company and the Agent are aware of the address of, and any relevant password specifications for, the
Designated Website; and 

  

	 	(iii)	 the information is in a format previously agreed between the Company and the Agent. 

If any Lender (a Paper Form Lender) does not agree to the delivery of information electronically then the Agent shall notify the Company
accordingly and the Company shall supply the information to the Agent (in sufficient copies for each Paper Form Lender) in paper form. In any event the Company shall supply the Agent with at least one copy in paper form of any information required
to be provided by it. 
  

	(b)	 The Agent shall supply each Website Lender with the address of and any relevant password specifications for the
Designated Website following designation of that website by the Company and the Agent. 

  

	(c)	 The Company shall promptly upon becoming aware of its occurrence notify the Agent if: 

 

	 	(i)	 the Designated Website cannot be accessed due to technical failure; 

 

	 	(ii)	 the password specifications for the Designated Website change; 

 

	 	(iii)	 any new information which is required to be provided under this Agreement is posted onto the Designated
Website; 

  

	 	(iv)	 any existing information which has been provided under this Agreement and posted onto the Designated Website is
amended; or 

  

	 	(v)	 the Company 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 the Company notifies the Agent under paragraph
(c)(i) or paragraph (c)(v) above, all information to be provided by the Company under this Agreement after the date of that notice shall be supplied in paper form unless and until the Agent and each Website Lender is satisfied that the circumstances
giving rise to the notification are no longer continuing. 
  

	(d)	 Any Website Lender may request, through the Agent, one paper copy of any information required to be provided
under this Agreement which is posted onto the Designated Website. The Company shall comply with any such request within ten Business Days. 

  

	19.10	 ‘‘Know your customer’’ checks 

 

	(a)	 If: 

  

	 	(i)	 the introduction of or any change in (or in the interpretation, administration or application of) any law or
regulation made after the date of this Agreement; 

  

	 	(ii)	 any change in the status of an Obligor after the date of this Agreement; or 

  
 48 

	 	(iii)	 a proposed assignment or transfer by a Lender of any of its rights and obligations under this Agreement to a
party that is not a Lender prior to such assignment or transfer, 

 obliges the Agent or any Lender (or, in the case of
paragraph (iii) above, any prospective new Lender) to comply with ‘‘know your customer’’ or similar identification procedures in circumstances where the necessary information is not already available to it, each Obligor
shall promptly upon the request of the Agent or any Lender supply, or procure the supply of, such documentation and other evidence as is reasonably requested by the Agent (for itself or on behalf of any Lender) or any Lender (for itself or, in the
case of the event described in paragraph (iii) above, on behalf of any prospective new Lender) in order for the Agent, such Lender or, in the case of the event described in paragraph (iii) above, any prospective new Lender to carry out and
be satisfied it has complied with all necessary ‘‘know your customer’’ or other similar checks under all applicable laws and regulations pursuant to the transactions contemplated in the Finance Documents. 

 

	(b)	 Each Lender shall promptly upon the request of the Agent supply, or procure the supply of, such documentation
and other evidence as is reasonably requested by the Agent (for itself) in order for the Agent to carry out and be satisfied it has complied with all necessary ‘‘know your customer’’ or other similar checks under all applicable
laws and regulations pursuant to the transactions contemplated in the Finance Documents. 

  

	(c)	 The Company shall, by not less than ten Business Days’ prior written notice to the Agent, notify the Agent
(which shall promptly notify the Lenders) of its intention to request that one of its Subsidiaries becomes an Additional Obligor pursuant to Clause 24 (Changes to the Obligors). 

 

	(d)	 Following the giving of any notice pursuant to paragraph (c) above, if the accession of such Additional
Obligor obliges the Agent or any Lender to comply with ‘‘know your customer’’ or similar identification procedures in circumstances where the necessary information is not already available to it, the Company shall promptly upon
the request of the Agent or any Lender supply, or procure the supply of, such documentation and other evidence as is reasonably requested by the Agent (for itself or on behalf of any Lender) or any Lender (for itself or on behalf of any prospective
new Lender) in order for the Agent or such Lender or any prospective new Lender to carry out and be satisfied it has complied with all necessary ‘‘know your customer’’ or other similar checks under all applicable laws and
regulations pursuant to the accession of such Subsidiary to this Agreement as an Additional Obligor. 

  

	20.	 FINANCIAL COVENANTS 

 

	20.1	 Financial condition 

The Company shall ensure that for so long as any Commitment is outstanding under a Finance Document: 

 

	 	(a)	 the ratio of Consolidated EBITDA to Consolidated Net Finance Charges in respect of any Measurement Period shall
be or shall exceed 5:1; and 

  

	 	(b)	 the ratio of Consolidated Net Borrowings on the last day of a Measurement Period to Consolidated EBITDA shall
not in respect of any Measurement Period exceed 3:1. 

  

	20.2	 Financial testing 

The financial covenants in Clause 20.1 (Financial condition) shall be tested semi-annually on (a) the last day of each Financial Year, and
(b) the date falling 6 Months after the last date of each Financial Year, in each case by reference to the most recent financial statements delivered pursuant to Clause 19.1 (Financial statements). 

  
 49 

	20.3	 Definitions 

In this Clause 20: 
 Cash
means, at any time, cash denominated in U.S. dollars or Peruvian Soles in hand or at a bank and (in the latter case) credited to an account in the name of a member of the Group with an Acceptable Bank and to which a member of the Group is
alone (or together with other members of the Group) beneficially entitled and for so long as: 
  

	 	(a)	 the cash is repayable on demand; 

 

	 	(b)	 the repayment of that cash is not contingent on the prior discharge of any other indebtedness of any member of
the Group or of any other person whatsoever or on the satisfaction of any other condition; 

  

	 	(c)	 there is no Security over that cash except Security under any Security Documents or Permitted Security (as
defined in paragraph (c) of Clause 21.3 (Negative pledge)) constituted by a netting or set-off arrangement entered into by members of the Group in the ordinary course of their banking arrangements; and

  

	 	(d)	 the cash is freely and immediately available to be applied in repayment or prepayment of the Facilities.

 Cash Equivalent Investments means, at any time: 

 

	 	(a)	 certificates of deposit maturing within one year after the relevant date of calculation and issued by an
Acceptable Bank; 

  

	 	(b)	 any investments in marketable debt obligations issued or guaranteed by the government of the United States of
America, Canada, Australia, Switzerland or the United Kingdom, any member state of the European Economic Area (provided that such member state has a sovereign credit rating of A- or higher by
Standard & Poor’s Rating Services) or any Participating Member State (provided that such Participating Member State has a sovereign credit rating of A- or higher by Standard &
Poor’s Rating Services) or by an instrumentality or agency of any of them having an equivalent credit rating, maturing within one year after the relevant date of calculation and not convertible or exchangeable to any other security;

  

	 	(c)	 commercial paper not convertible or exchangeable to any other security: 

 

	 	(i)	 for which a recognised trading market exists; 

 

	 	(ii)	 issued by an issuer incorporated in the United States of America, Canada, Australia, the United Kingdom, any
member state of the European Economic Area or any Participating Member State; 

  

	 	(iii)	 which matures within one year after the relevant date of calculation; and 

 

	 	(iv)	 which has a credit rating of either A-1 or higher by
Standard & Poor’s Rating Services or F1 or higher by Fitch Ratings Ltd or P-1 or higher by Moody’s Investors Service Limited, or, if no rating is available in respect of the commercial
paper, the issuer of which has, in respect of its long-term unsecured and non-credit enhanced debt obligations, an equivalent rating; 

  
 50 

	 	(d)	 any investment in money market funds which: 

 

	 	(i)	 have a credit rating of either A-1 or higher by Standard &
Poor’s Rating Services or F1 or higher by Fitch Ratings Ltd or P-1 or higher by Moody’s Investors Service Limited; 

 

	 	(ii)	 which invest substantially all their assets in securities of the types described in paragraphs (a) to (c)
above; and 

  

	 	(iii)	 can be turned into cash on not more than 30 days’ notice; or 

 

	 	(e)	 any other debt security approved by the Agent, 

in each case, denominated in U.S. dollars or Peruvian Soles and to which any member of the Group is alone (or together with other members of
the Group) beneficially entitled at that time and which is not issued or guaranteed by any member of the Group or subject to any Security (other than Security arising under the Security Documents). 

Consolidated EBITDA means, for any Measurement Period (having reversed any entries made to reflect fair value gains or losses on
financial derivative investments which are undertaken in the normal course of business), Consolidated Profits Before Interest and Tax before any amount attributable to the amortisation of intangible assets and depreciation of tangible assets and
before any extraordinary items; 
 Consolidated Net Borrowings means, at any time, the aggregate amount of all obligations of the
Group for or in respect of Indebtedness for Borrowed Money but excluding any such obligation to any member of the Group, adjusted to take account of the aggregate amount of freely available Cash and Cash Equivalent Investments held by any member
of the Group (and so that no amount shall be included or excluded more than once); 
 Consolidated Net Finance Charges means, in
respect of any Measurement Period, the aggregate amount of the interest (including the interest element of leasing and hire purchase payments and capitalised interest), commission, fees, discounts and other finance payments payable by any
member of the Group (including any commission, fees, discounts and other finance payments payable by any member of the Group under any interest rate hedging arrangement but deducting any commission, fees, discounts and other finance payments
receivable by any member of the Group under any interest rate hedging instrument) but deducting any other interest receivable by any member of the Group on any deposit or bank account; 

Consolidated Profits Before Interest and Tax means, in respect of any Measurement Period, the consolidated net income of the
Group before: 
  

	 	(a)	 any provision on account of normal taxation and workers participation; and 

 

	 	(b)	 any interest, commission, discounts or other fees incurred or payable, received or receivable by any member of
the Group in respect of Indebtedness for Borrowed Money; 

 Consolidated Net Worth means, at any time, the total net
worth of the Borrower, as reported in the most recent consolidated financial statements of the Borrower; 
 Consolidated Tangible
Net Worth means, at any time, the Consolidated Net Worth less intangible assets, as reported in the most recent consolidated financial statements of the Company; and 

Measurement Period means each period of 12 months ending on the last day of the Company’s financial year and each period of
12 months ending on the last day of each half of the Company’s financial year. 

  
 51 

	21.	 GENERAL UNDERTAKINGS 

The undertakings in this Clause 21 remain in force from the date of this Agreement for so long as any amount is outstanding under the Finance
Documents or any Commitment is in force. 
  

	21.1	 Authorisations 

Each Obligor shall promptly: 
  

	 	(a)	 obtain, comply with and do all that is necessary to maintain in full force and effect; and

  

	 	(b)	 upon written request by the Agent, supply certified copies to the Agent of, 

any Authorisation required under any law or regulation of its jurisdiction of incorporation to enable it to perform its obligations under the
Finance Documents and to ensure the legality, validity, enforceability or admissibility in evidence in its jurisdiction of incorporation of any Finance Document. 
  

	21.2	 Compliance with laws 

Each Obligor shall comply in all material respects with all Applicable Laws. 

 

	21.3	 Negative pledge 

In this Clause 21.3, Quasi-Security means an arrangement or transaction described in paragraph (b) below. 

 

	 	(a)	 No Obligor shall create or permit to subsist any Security over any of its assets. 

 

	 	(b)	 No Obligor shall: 

  

	 	(i)	 sell, transfer or otherwise dispose of any of its assets on terms whereby they are or may be leased to or re-acquired by an Obligor or any other member of the Group; 

  

	 	(ii)	 sell, transfer or otherwise dispose of any of its receivables on recourse terms; 

 

	 	(iii)	 enter into any arrangement under which money or the benefit of a bank or other account may be applied, set-off or made subject to a combination of accounts; or 

  

	 	(iv)	 enter into any other preferential arrangement having a similar effect, 

in circumstances where the arrangement or transaction is entered into primarily as a method of raising Financial Indebtedness or of financing
the acquisition of an asset. 
  

	 	(c)	 Paragraphs (a) and (b) above do not apply to any Security or (as the case may be) Quasi-Security, listed
below (each a Permitted Security): 

  

	 	(i)	 any Security or Quasi-Security created prior to the date of this Agreement; 

 

	 	(ii)	 any title transfer or retention arrangement entered into by an Obligor in the normal course of its trading
activities and on terms no worse than the standard terms of the relevant supplier; 

  
 52 

	 	(iii)	 any netting or set-off arrangement entered into by an Obligor in the
ordinary course of its banking arrangements (which shall include, for the avoidance of doubt, those pursuant to hedging arrangements in relation to gold, silver and copper prices, foreign exchange rates and interest rates where such arrangements are
entered into for the purposes of providing protection against fluctuation in such rates or prices in the ordinary course of business), for the purpose of netting debit and credit balances; 

 

	 	(iv)	 any Security or Quasi-Security arising by operation of law and in the ordinary course of trading and not by
reason of any default (whether in payments or otherwise), of an Obligor; 

  

	 	(v)	 any Security or Quasi-Security over or affecting any asset acquired by an Obligor after the date of this
Agreement, provided that the Security or Quasi-Security is not created in contemplation of the acquisition, the principal amount secured is not subsequently increased, and the Security or Quasi-Security is (other than an Security or Quasi-Security
otherwise permitted pursuant to paragraph (ii), (iii), (iv) above, or paragraphs (vii), (viii) or (ix) below) removed or discharged within six months of the date of the acquisition; 

 

	 	(vi)	 any Security or Quasi-Security over or affecting any asset of any company which becomes a subsidiary of an
Obligor after the date of this Agreement, provided that the Security or Quasi-Security is not created in contemplation of the acquisition, the principal amount secured is not subsequently increased, and the Security or Quasi-Security is (other than
a Security or Quasi-Security otherwise permitted pursuant to paragraph (ii), (iii), (iv) above, or paragraphs (vii), (viii) or (ix) below) removed or discharged within six months of the date of the acquisition; 

 

	 	(vii)	 any Security or Quasi-Security securing indebtedness, the principal amount of which (when aggregated with the
principal amount of any other indebtedness which has the benefit of Security or Quasi-Security other than any permitted under paragraphs (i) to (vi) above, or paragraphs (viii) and (ix) below) does not at any time exceed 5% of Consolidated
Tangible Net Worth (or its equivalent in another currency) (but adjusted to include the net value of new assets acquired since the last date of the latest set of annual consolidated financial statements of the Obligor); 

 

	 	(viii)	 any other Security or Quasi-Security as agreed to by the Agent; or 

 

	 	(ix)	 any Security or Quasi-Security arising under the Finance Documents, including the Security Documents.

  

	 	(d)	 No Obligor shall sell, transfer or otherwise dispose of any of its assets that are subject to the Security
created under the Onshore Security Agreement, except as permitted under this Agreement and the Onshore Security Agreement (including, but not limited to, disposals in respect of any Factoring Arrangements as defined in Clause 21.4(b)(v) (Disposals
and Mergers)). 

  

	21.4	 Disposals and mergers 

 

	(a)	 No Obligor shall (and the Company shall ensure that no other member of the Group will) enter into a single
transaction or a series of transactions (whether related or not and whether voluntary or involuntary) to sell, lease transfer or otherwise dispose of any assets; 

 

	(b)	 Paragraph (a) above does not apply to any sale, lease, assignment, transfer or other disposal or any other
transaction having similar effects to the aforementioned, by any Obligor: 

  

	 	(i)	 under the Sale Agreements; or 

  
 53 

	 	(ii)	 made in the ordinary course of trading; or 

 

	 	(iii)	 of equipment in exchange for other equipment comparable or superior as to type, value and quality; or

  

	 	(iv)	 of obsolete or redundant assets which are no longer required for the efficient operation of the business of an
Obligor; or 

  

	 	(v)	 under factoring arrangements in respect of any invoices which the Company issues to third parties (the
Factoring Arrangements) under any of the Concentrate Sale Agreements provided that: 

  

	 	(A)	 the Factoring Arrangements are made on non-recourse terms; and

  

	 	(B)	 the net proceeds of such Factoring Arrangements, following payment of any taxes or reasonable costs or expenses
related to the Factoring Arrangements, are paid into the Offshore Revenue Account (as defined in the Offshore Security Agreement); or 

  

	 	(vi)	 to any other person where the higher of the market value or consideration receivable when aggregated with the
higher of the market value or consideration receivable for any other sale, lease, transfer or other disposal by the Group (other than a sale, lease, transfer or other disposal referred to in paragraphs (i), (ii), (iv) and (v) above) does not
exceed 5% of the Consolidated Tangible Net Worth in any financial year of the Company; or 

  

	 	(vii)	 for which the Agent has given its prior consent. 

 

	(c)	 No Obligor shall enter into any amalgamation, demerger, merger or corporate reconstruction (each a
Merger) without the prior consent of the Agent, other than Mergers: 

  

	 	(i)	 involving only companies in the mining sector with assets located in Peru or another jurisdiction reasonably
acceptable to the Agent; 

  

	 	(ii)	 where the surviving company is already an Obligor; 

 

	 	(iii)	 where the material subsidiaries (if any) of the companies (other than that Obligor) involved in the Merger
accede to this Agreement as Guarantors and assign all rights, title and interest in all of the Sale Agreements it is a party to at the date of the Merger; 

  

	 	(iv)	 where, before that Obligor enters into such Merger, the pro forma financial statements are in compliance with
Clause 20 (Financial Covenants) and all other material obligations (including, without limitation, the provisions of Clause 21 (General Undertakings)) under the Finance Documents; 

 

	 	(v)	 that immediately after giving effect to such Merger (and treating any Financial Indebtedness which becomes an
obligation of that Obligor as a result of such transaction as having been incurred by that Obligor at the time of such Merger) will not reasonably be expected to cause an Event of Default; 

 

	 	(vi)	 where immediately after giving effect to such Merger, the Consolidated Net Worth of the Group is not less than
that of the Group immediately prior to the Merger; and 

  

	 	(vii)	 where that Obligor has delivered to the Agent a certificate issued by the Chief Financial Officer of that
Obligor attaching a legal opinion of that Obligor’s legal counsel stating that such Merger complies with the Finance Documents. 

  
 54 

	(d)	 No Obligor shall enter into any demerger without the prior consent of the Agent. 

 

	(e)	 No Obligor shall enter into any corporate reorganisation or transformation without the prior consent of the
Agent, other than any corporate reorganisation or transformation (not implying insolvency), which is not reasonably expected to have a Material Adverse Effect. 

 

	21.5	 Change of business 

The Company shall procure that no substantial change is made to the general nature of its business from that carried on at the date of this
Agreement. 
  

	21.6	 Insurance 

Each Obligor shall maintain insurances on and in relation to its business and assets with reputable underwriters or insurance companies against
those risks, and to the extent as is usual for companies carrying on the same or a substantially similar business. 
  

	21.7	 Environmental compliance 

Each Obligor shall substantially comply in all material respects with all Environmental Law and obtain and maintain any material environmental
permits, licenses, approvals or certifications (including but not limited to an Environmental Impact Assessment (Estudio de Impacto Ambiental) which has been approved by the relevant authority) and take all reasonable steps in anticipation of
known or expected future changes to or obligations under any Environmental Law or environmental permit. 
  

	21.8	 Environmental matters/Claims 

Each Obligor shall inform the Agent, in writing as soon as reasonably practical upon becoming aware: 

 

	 	(a)	 of any material Environmental Claim (excluding any of a frivolous or vexatious nature) that has been commenced
or (to the best of its knowledge and belief) that is threatened against it which could reasonably be expected to have a Material Adverse Effect; or 

  

	 	(b)	 of any facts or circumstances which will or are reasonably likely to result in any Environmental Claim (not of
a frivolous or vexatious nature) being commenced or threatened against it which could reasonably be expected to have a Material Adverse Effect. 

  

	21.9	 Taxation 

Each Obligor must pay all Taxes due and payable by it prior to the accrual of any fine or penalty save to the extent that: 

 

	 	(a)	 payment of those Taxes is being contested in good faith; 

 

	 	(b)	 adequate reserves are being maintained for those Taxes in accordance with IFRS; and 

 

	 	(c)	 such payment can be lawfully withheld. 

 

	21.10	 Maintenance of legal status 

Each Obligor shall do all such things as are necessary to maintain its existence as a legal person and shall maintain its books and records in
good order and make all necessary corporate filings with the relevant authorities in its jurisdiction of incorporation (if required). 

  
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	21.11	 Claims pari passu 

Each Obligor shall ensure that at all times the claims of the Lenders against it under the Finance Documents rank at least pari passu
with the claims of all its other unsecured creditors save those whose claims are preferred by any bankruptcy, insolvency, liquidation or other similar laws of general application in its jurisdiction of incorporation. 

 

	21.12	 Maintenance of assets 

Each Obligor shall ensure that it has good title to or validly leases or licences all of the assets necessary and has all material consents,
licences, permits, concessions and/or authorisations necessary to carry on its business as conducted as at the date of this Agreement. 
  

	21.13	 Loans, investments and guarantees 

No Obligor shall: 
  

	 	(a)	 make loans to (or provide any other form of credit to); 

 

	 	(b)	 make any type of investment on; or 

 

	 	(c)	 provide any guarantee in favour of, 

any third party other than: 
  

	 	(i)	 any: 

  

	 	(A)	 loans, credits or investments which do not exceed U.S.$100,000,000 (or the equivalent in another currency) to
members of the Group; or 

  

	 	(B)	 guarantees which do not exceed U.S.$50,000,000 (or the equivalent in another currency) in favour of members of
the Group; 

  

	 	(ii)	 loans, credits, investments or guarantees which do not exceed U.S.$2,000,000 (or the equivalent in another
currency) in aggregate during the term of the Agreement; or 

  

	 	(iii)	 by way of trade credit in the ordinary course of business, 

provided that no Event of Default has occurred or is continuing. 
  

	21.14	 Acquisitions 

No Obligor shall, without the prior consent of the Agent, enter into any transaction, acquire any company, business, assets or undertaking
where such a transaction or acquisition: 
  

	 	(a)	 is not related to that Obligor’s core line of business; 

 

	 	(b)	 is made within a jurisdiction not reasonably acceptable to the Agent; or 

 

	 	(c)	 could reasonably be expected to have a Material Adverse Effect. 

  
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	21.15	 Transactions with affiliates 

No Obligor shall enter into any transaction with any of its Affiliates on terms that are less favourable to that Obligor than if such
transaction had been entered into on an arm’s length basis with a non-affiliated party. 
  

	21.16	 Distributions 

No Obligor shall declare or pay any dividend or other payment or distribution in respect of any shares of that Obligor (or the repurchase,
redemption or retirement thereof; including for the avoidance of doubt any capital reduction) or of any warrant, option or other right to acquire such shares or in respect of any shareholder loans (including subordinated debt), either directly or
indirectly (each, a Restricted Payment), if: 
  

	 	(a)	 an Event of Default has occurred and is continuing; or 

 

	 	(b)	 an Event of Default would occur as a result of such Restricted Payment. 

 

	21.17	 Financial Indebtedness 

 

	(a)	 No Obligor shall incur, create or permit to subsist or have outstanding any Financial Indebtedness.

  

	(b)	 Paragraph (a) above does not apply to any Financial Indebtedness: 

 

	 	(i)	 arising under the Finance Documents; 

 

	 	(ii)	 arising under shareholder loan agreements or other shareholder funding to the extent that such Financial
Indebtedness is unsecured and subordinated (to the extent it exceeds U.S.$10,000,000 (or the equivalent in another currency) individually or in aggregate) to the obligations of the Obligors to the Lenders, on terms which are reasonably acceptable to
the Agent, and incurred for the purposes of financing general working capital requirements, including capital expenditures of the Obligors; 

  

	 	(iii)	 that is unsecured and subordinated (to the extent it exceeds U.S.$10,000,000 (or the equivalent in another
currency) individually or in aggregate) to the obligations of the Obligor to the Lenders on terms which are acceptable in all material respects to the Agent; 

  

	 	(iv)	 arising under trade credit extended in the ordinary course of business on normal commercial terms (so long as
the aggregate amount of such trade credit does not at any time exceed U.S.$50,000,000 (or the equivalent thereof) and which is not more than 90 days due or, if due for more than 90 days, is being contested in good faith); 

 

	 	(v)	 in respect of any leases entered into primarily as a method of raising finance or financing the acquisition of
an asset up to an aggregate total amount of U.S.$5,000,000 (or the equivalent thereof) at any one time; 

  

	 	(vi)	 arising under any environmental bond which any Obligor is required to issue by any Applicable Law;

  

	 	(vii)	 arising under any derivative transaction entered into in connection with protection against or benefit from
fluctuation in any rate or price but not for speculative purposes; 

  

	 	(viii)	 of any Obligor existing or available on the date of this Agreement; 

 

	 	(ix)	 on terms consented to by the Agent; 

  
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	 	(x)	 acquired by the Obligor as a consequence of a Merger as defined in paragraph (c) of Clause 21.4 (Disposals
and mergers); or 

  

	 	(xi)	 not falling within paragraphs (i) to (x) above, provided that the aggregate amount of all Financial
Indebtedness permitted under this paragraph (xi) does not at any time exceed U.S.$20,000,000 (or its equivalent). 

  

	21.18	 Assignment of the Facility 

No Obligor shall, without the prior consent of all Lenders, assign or transfer the Facility or its rights and obligations under any of the
Finance Documents. 
  

	21.19	 Registration of the Peruvian Security 

The Obligors shall take any and every action reasonably necessary or desirable so that the Onshore Security Documents are duly registered
before the competent Peruvian public registries within 30 Business Days after the date of their execution. 
  

	21.20	 Sale Agreements 

 

	(a)	 The Obligors shall procure that the Concentrate Sale Agreements include irrevocable payment instructions to the
purchasers under the Concentrate Sale Agreements to make all payments thereunder to the accounts detailed in the Security Documents. 

  

	(b)	 The Obligors shall promptly deliver to the Agent a copy of any and all notices required to be delivered in
accordance with the Security Documents. 

  

	(c)	 Any Sale Agreements entered into after the date of this Agreement shall be governed by either English or
Peruvian law and secured in favour of the Finance Parties pursuant to the terms of the Security Documents. 

  

	21.21	 Intercompany debts 

Other than as permitted under this Agreement, no Obligor shall at any time have outstanding debt with its affiliates, shareholders, directors
or managers, for an amount, individually or in the aggregate, exceeding U.S.$10,000,000 (or the equivalent in another currency). 
  

	21.22	 Sanctions and anti-corruption 

 

	(a)	 For the purpose of this clause 21.22, ‘‘Subsidiary’’ means, in relation to the Obligor, a
company or corporation: 

  

	 	(i)	 which is controlled, directly or indirectly, by the Obligor; 

 

	 	(ii)	 more than half the issued share capital of which is beneficially owned, directly or indirectly by the Obligor;
or 

  

	 	(iii)	 which is a Subsidiary of another Subsidiary of the Obligor, 

and for this purpose, a company or corporation shall be treated as being controlled by the Obligor if the Obligor is able to direct its affairs
and/or to control the composition of its board of directors or equivalent body. 

  
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	(b)	 The Obligor shall not (and shall procure that no Subsidiary will) engage in any dealings or transactions
occurring in a Sanctioned Country or with any person that at the time of the dealing or transaction is the subject or the target of Sanctions or located in any Sanctioned Country. 

 

	(c)	 The Obligor shall not (and shall procure that no Subsidiary will): 

 

	 	(i)	 knowingly use, contribute or otherwise make available the proceeds of any Facility for the purpose of financing
or making funds available directly; or 

  

	 	(ii)	 use, contribute or otherwise make available the proceeds of any Facility for the purpose of financing or making
funds available indirectly, 

 to any person which is the subject or target of any Sanctions or located in a Sanctioned
Country, to the extent such financing or provision of funds is prohibited by Sanctions. 
  

	(d)	 No Obligor shall directly or indirectly breach any applicable Anti-Corruption Laws. 

 

	(e)	 The Obligor shall (and shall ensure that each of its Subsidiaries will) maintain and enforce, policies and
procedures designed to promote and ensure compliance with all applicable Anti-Corruption Laws. 

  

	21.23	 Conditions subsequent 

 

	(a)	 The Company shall procure that, as soon as reasonably practicable following the first Utilisation Date, and in
any case by no later than three (3) Business Days following the first Utilisation Date, all collateral established under the Security Agreements (as defined in the Existing Facility Agreement) that are governed by Peruvian law is released by
means of the execution by the Onshore Security Agent (as defined in the Existing Facility Agreement) of the relevant Peruvian public deeds of release, and that such public deeds of release have been filed with the competent Peruvian public
registries by no later than one (1) Business Day following the execution of such public deeds of release. The Company shall procure that the release of the collateral under the Security Agreements (as defined in the Existing Facility Agreement)
that are governed by Peruvian law are duly registered before the competent Peruvian public registries no later than twenty (20) Business Days following the filing of the Peruvian public deeds of release with the relevant Peruvian public
registry. 

  

	(b)	 The Onshore Security Agent and the Offshore Security Agent shall each cooperate in good faith with the Company
to ensure that the Company is able to comply with its obligations under this Clause 21.22. 

  

	22.	 EVENTS OF DEFAULT 

Each of the events or circumstances set out in this Clause 22, is an Event of Default in respect of each Obligor (save for Clause 22.16
(Acceleration)). 
  

	22.1	 Non-payment 

An Obligor does not pay on the due date any amount payable pursuant to a Finance Document at the place at and in the currency in which it is
expressed to be payable unless: 
  

	 	(a)	 its failure to pay is caused by: 

 

	 	(i)	 administrative or technical error; or 

 

	 	(ii)	 a Disruption Event; and 

  
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	 	(b)	 payment is made within three Business Days of its due date. 

 

	22.2	 Financial covenants and other 

 

	(a)	 Any requirement of Clause 20 (Financial Covenants) is not satisfied. 

 

	(b)	 Any Obligor does not comply with any provision of the Onshore Security Agreement. 

 

	22.3	 Other obligations 

 

	(a)	 An Obligor does not comply with any provision of the Finance Documents (other than those referred to in Clause
22.1 (Non-payment), Clause 22.2 (Financial covenants) and Clauses 22.4 (Misrepresentation) to 22.15 (Sanctions and anti-corruption)). 

 

	(b)	 No Event of Default under paragraph (a) above will occur if: 

 

	 	(i)	 the failure to comply is capable of remedy and is remedied within ten Business Days of the earlier of
(A) the Agent giving notice to the Company and (B) the Company becoming aware of the failure to comply; or 

  

	 	(ii)	 in respect of a breach of Clause 18.17 (Taxation), the aggregate amount of such breach or breaches does not
exceed U.S.$5,000,000. 

  

	22.4	 Misrepresentation 

 

	(a)	 Any representation or statement made or deemed to be made by an Obligor in the Finance Documents or any other
document delivered by or on behalf of that Obligor under or in connection with any Finance Document is or proves to have been incorrect or misleading in any material and adverse respect when made or deemed to be made unless the circumstances giving
rise to the misrepresentation: 

  

	 	(i)	 are capable of remedy; and 

 

	 	(ii)	 are remedied within ten Business Days of the earlier of the Agent giving notice and that Obligor becoming aware
of the misrepresentation. 

  

	(b)	 No Event of Default will occur under paragraph (a) above if the Taxes in respect of which the
representation contained in Clause 18.17 (Taxation) was made does not individually or in aggregate exceed an amount of U.S.$5,000,000 at any time. 

  

	22.5	 Cross-default 

 

	(a)	 Any Financial Indebtedness of an Obligor is not paid when due, nor within any originally applicable grace
period. 

  

	(b)	 Any Financial Indebtedness of an Obligor is declared to be or otherwise becomes due and payable prior to its
specified maturity as a result of an event of default (however described). 

  

	(c)	 Any commitment for any Financial Indebtedness of an Obligor is cancelled or suspended by a creditor of that
Obligor as a result of an event of default (however described). 

  

	(d)	 Any creditor of an Obligor becomes entitled to declare any Financial Indebtedness of that Obligor due and
payable prior to its specified maturity as a result of an event of default (however described). 

  
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	(e)	 No Event of Default will occur under this Clause 22.5 if the aggregate amount of Financial Indebtedness or
commitment for Financial Indebtedness falling within paragraphs (a) to (d) above is less than U.S.$5,000,000 (or its equivalent in any other currency or currencies). 

 

	22.6	 Insolvency 

  

	(a)	 An Obligor: 

  

	 	(i)	 is unable or admits inability to pay its debts as they fall due; 

 

	 	(ii)	 suspends making payments on any of its debts; or 

 

	 	(iii)	 by reason of actual or anticipated financial difficulties, commences negotiations with one or more of its
creditors (excluding any Finance Party in its capacity as such) with a view to rescheduling any of its Financial Indebtedness or takes any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the acts set
forth in Clause 22.7 (Insolvency proceedings) below. 

  

	(b)	 The value of the assets of an Obligor is less than its liabilities (taking into account contingent and
prospective liabilities). 

  

	(c)	 A moratorium is declared in respect of any Financial Indebtedness of an Obligor. 

 

	22.7	 Insolvency proceedings 

Any corporate action, legal proceedings or other similar procedure or step is taken in relation to: 

 

	 	(a)	 the bankruptcy, insolvency or equity restructuring proceedings of an Obligor; 

 

	 	(b)	 the suspension of payments, a moratorium of any Financial Indebtedness,
winding-up, dissolution, administration or reorganisation (by way of voluntary arrangement, scheme of arrangement or otherwise) of an Obligor; 

 

	 	(c)	 a composition, compromise, assignment or arrangement with any creditor or class of creditors of an Obligor;

  

	 	(d)	 the appointment of a liquidator, receiver, administrator, administrative receiver, judicial manager, compulsory
manager or other similar officer in respect of any member of an Obligor or any of its assets; or 

  

	 	(e)	 enforcement of any Security or Quasi-Security (as defined in Clause 21.3 (Negative pledge) over any assets of
an Obligor, 

 or any analogous procedure or step is taken in any jurisdiction and any such procedure or proceedings are
not contested in good faith or discharged within 30 days (or such shorter period provided for contesting such procedure or proceedings under the laws of the relevant jurisdiction) since the Obligor was served. 

 

	22.8	 Failure to comply with final judgment 

An Obligor fails within five Business Days of the due date to comply with or pay any sum due from it under any final judgment, order or
arbitral award entered against an Obligor involving individually or in aggregate a liability of U.S.$5,000,000 (or the equivalent in another currency) or more. 

  
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	22.9	 Unlawfulness or adverse circumstances 

 

	(a)	 It is or becomes unlawful for an Obligor to perform any of its obligations under the Finance Documents;

  

	(b)	 An Obligor has taken any action that affects the validity or effectiveness of the Assets or Credit Rights (each
as defined in any Onshore Security Agreement), or the ability of the Onshore Security Agent to foreclose the security constituted by the relevant Onshore Security Agreement; or 

 

	(c)	 An Obligor breaches paragraph (d) of Clause 21.3 (Negative Pledge), 

provided, however, that nothing in this Clause 22.9 shall in any way limit any rights of any Lenders pursuant to Article 175 of Peruvian Law
No. 26702, Ley General del Sistema Financiero y del Sistema de Seguros y Orgánica de la Superintendencia de Banca y Seguros. 
  

	22.10	 Repudiation and unenforceability 

An Obligor repudiates a Finance Document or any Finance Document is declared to be or is otherwise unenforceable against that Obligor or any
obligation therein ceases to be legal, valid, binding or enforceable; or any of the Security Documents shall cease, for any reason, to be in full force and effect, or any lien created by the Security Documents shall cease to be enforceable and of
the same effect and priority purported to be created thereby other than due to any Finance Party’s gross negligence or wilful misconduct. 
  

	22.11	 Governmental intervention 

By or under the authority of any government: 
  

	 	(a)	 the management of an Obligor is wholly or partially displaced or the authority of the Obligor in the conduct of
its business is wholly or partially taken over; or 

  

	 	(b)	 all or a majority of the issued shares of the Obligor are seized, nationalised, expropriated or compulsorily
acquired; or 

  

	 	(c)	 properties, revenues or assets of the Obligor, individually or in aggregate, at any time comprising equal to or
greater than 5% of the Consolidated EBITDA and/or 5% of the gross assets of the Group are seized, nationalised, expropriated or compulsorily acquired. 

  

	22.12	 Material adverse change 

Any change occurs in the business, condition (financial or otherwise), operations, performance or properties of the Company since the date of
the Original Financial Statements that could reasonably be expected to have a Material Adverse Effect. 
  

	22.13	 Cessation of business 

The Company ceases to carry on the business which it undertakes at the date of this Agreement. 

 

	22.14	 Litigation 

Any litigation, arbitration, administrative proceedings or governmental or regulatory investigations or proceedings against an Obligor or its
assets or revenues that is reasonably likely to be adversely determined and, if adversely determined, could reasonably be expected to have a Material Adverse Effect. 

  
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	22.15	 Sanctions and anti-corruption 

 

	(a)	 A Peruvian first level criminal court (primera instancia) has issued a sentence confirming that the
Obligor has failed to comply with any Anti-Corruption Laws or has taken any action, directly or indirectly, that has resulted in a violation of any Anti-Corruption Laws. 

 

	(b)	 The Obligor has voluntarily recognized that it has failed to comply with Clause 21.22 (Sanctions and
anti-corruption) or Clause 22.4 (Misrepresentation) (in respect of a representation or statement made by an Obligor under Clause 18.23 (Sanctions and Anti-Corruption)). 

 

	22.16	 Acceleration 

On and at any time after the occurrence of an Event of Default which is continuing, the Agent may, and shall if so directed by the Majority
Lenders, by notice to the Company: 
  

	 	(a)	 cancel the Total Commitments whereupon they shall immediately be cancelled; 

 

	 	(b)	 declare that all or part of the Loans, together with accrued interest, and all other amounts accrued or
outstanding under the Finance Documents be immediately due and payable, whereupon they shall become immediately due and payable; 

  

	 	(c)	 declare that all or part of the Loans be payable on demand, whereupon they shall immediately become payable on
demand by the Agent on the instructions of the Majority Lenders and/or 

  

	 	(d)	 exercise or direct the Security Agent to exercise any or all of its rights, remedies, powers or discretions
under the Finance Documents. 

  

	23.	 CHANGES TO THE LENDERS 

 

	23.1	 Assignments and transfers by the Lenders 

Subject to this Clause 23, a Lender (the Existing Lender) may: 
  

	 	(a)	 assign any of its rights; or 

 

	 	(b)	 transfer by novation any of its rights and obligations, 

to another bank or financial institution or to a trust, fund or other entity which is regularly engaged in or established for the purpose of
making, purchasing or investing in loans, securities or other financial assets (the New Lender). 
  

	23.2	 Conditions of assignment or transfer 

 

	(a)	 A Lender proposing to effect any assignment or transfer of their rights and/or obligations under the Finance
Documents shall give the Company and Agent ten Business Days’ prior written notice (each such period, a Notice Period) of any such proposed assignment or transfer. 

 

	(b)	 The consent of the Company is required for an assignment or transfer by an Existing Lender, unless the
assignment or transfer is: 

  

	 	(i)	 to another Lender or an Affiliate of any Lender; 

 

	 	(ii)	 made at a time when an Event of Default is continuing; or 

  
 63 

	 	(iii)	 to a Permitted Transferee. 

 

	(c)	 If the New Lender is not an Original Lender, the relevant Borrower must deliver a duly executed Promissory Note
and the Agreement Regarding Completion of Note on or before the date of any proposed assignment or transfer to such New Lender. 

  

	(d)	 The consent of the Company to an assignment or transfer must not be unreasonably withheld or delayed. The
Company will be deemed to have given its consent five Business Days after the Existing Lender has requested it unless consent is expressly refused by the Company within that time. 

 

	(e)	 An assignment will only be effective on: 

 

	 	(i)	 receipt by the Agent (whether in the Assignment Agreement or otherwise) of written confirmation from the New
Lender (in form and substance satisfactory to the Agent) that the New Lender will assume the same obligations to the other Finance Parties as it would have been under if it had been an Original Lender; and 

 

	 	(ii)	 performance by the Agent of all necessary ‘‘know your customer’’ or other similar checks
under all applicable laws and regulations in relation to such assignment to a New Lender, the completion of which the Agent shall promptly notify to the Existing Lender and the New Lender. 

 

	(f)	 A transfer will only be effective if the procedure set out in Clause 23.6 (Procedure for transfer) is complied
with. 

  

	(g)	 If: 

  

	 	(i)	 a Lender assigns or transfers any of its rights or obligations under the Finance Documents or changes its
Facility Office; and 

  

	 	(ii)	 as a result of circumstances existing at the date the assignment, transfer or change occurs, an Obligor would
be obliged to make a payment to the New Lender or Lender acting through its new Facility Office under Clause 12 (Tax Gross-Up and Indemnities) or Clause 13 (Increased Costs), 

then the New Lender or Lender acting through its new Facility Office is only entitled to receive payment under those Clauses to the same extent
as the Existing Lender or Lender acting through its previous Facility Office would have been if the assignment, transfer or change had not occurred. This paragraph (g) shall not apply in respect of an assignment or transfer made in the ordinary
course of the primary syndication of the Facility. 
  

	(h)	 Each New Lender, by executing the relevant Transfer Certificate or Assignment Agreement, confirms, for the
avoidance of doubt, that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the
transfer or assignment becomes effective in accordance with this Agreement and that it is bound by that decision to the same extent as the Existing Lender would have been had it remained a Lender. 

 

	23.3	 Removal of Permitted Transferee 

 

	(a)	 Other than during the Notice Period, the Company (acting reasonably) may at any time deliver a written notice
to the Agent specifying: 

  
 64 

	 	(i)	 its intention to remove a Permitted Transferee from the Permitted Transferee List; and 

 

	 	(ii)	 the grounds on which it wishes to remove the Permitted Transferee from the Permitted Transferee List.

  

	(b)	 If the Agent is satisfied (acting reasonably) that the Company has reasonable grounds for the removal of that
Permitted Transferee, the Agent shall notify the Company in writing of its decision and such Permitted Transferee shall cease to be a Permitted Transferee and be removed from the Permitted Transferee List, provided that, to the extent that such
Permitted Transferee is already a Lender as at the date of such removal, such removal shall not oblige any other Lender to acquire or re-acquire such Permitted Transferee’s participation in any Loan.

  

	(c)	 The Agent shall notify the Lenders upon removal of such Permitted Transferee from the Permitted Transferee List
in accordance with this Clause 23.3. 

  

	23.4	 Assignment or transfer fee 

The New Lender shall, on the date upon which an assignment or transfer takes effect, pay to the Agent (for its own account) a fee of
U.S.$3,500. 
  

	23.5	 Limitation of responsibility of Existing Lenders 

 

	(a)	 Unless expressly agreed to the contrary, an Existing Lender makes no representation or warranty and assumes no
responsibility to a New Lender for: 

  

	 	(i)	 the legality, validity, effectiveness, adequacy or enforceability of the Finance Documents or any other
documents; 

  

	 	(ii)	 the financial condition of any Obligor; 

 

	 	(iii)	 the performance and observance by any Obligor of its obligations under the Finance Documents or any other
documents; or 

  

	 	(iv)	 the accuracy of any statements (whether written or oral) made in or in connection with any Finance Document or
any other document, 

 and any representations or warranties implied by law are excluded. 

 

	(b)	 Each New Lender confirms to the Existing Lender and the other Finance Parties that it: 

 

	 	(i)	 has made (and shall continue to make) its own independent investigation and assessment of the financial
condition and affairs of each Obligor and its related entities in connection with its participation in this Agreement, and has not relied exclusively on any information provided to it by the Existing Lender in connection with any Finance Document;
and 

  

	 	(ii)	 will continue to make its own independent appraisal of the creditworthiness of each Obligor and its related
entities whilst any amount is or may be outstanding under the Finance Documents or any Commitment is in force. 

  

	(c)	 Nothing in any Finance Document obliges an Existing Lender to: 

 

	 	(i)	 accept a re-transfer or
re-assignment from a New Lender of any of the rights and obligations assigned or transferred under this Clause 23; or 

  
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	 	(ii)	 support any losses directly or indirectly incurred by the New Lender by reason of the non-performance by any Obligor of its obligations under the Finance Documents or otherwise. 

  

	23.6	 Procedure for transfer 

 

	(a)	 Subject to the conditions set out in Clause 23.2 (Conditions of assignment or transfer), a transfer is effected
in accordance with paragraph (c) below when the Agent executes an otherwise duly completed Transfer Certificate delivered to it by the Existing Lender and the New Lender. The Agent shall, subject to paragraph (b) below, as soon as
reasonably practicable after receipt by it of a duly completed Transfer Certificate appearing on its face to comply with the terms of this Agreement and delivered in accordance with the terms of this Agreement, execute that Transfer Certificate.

  

	(b)	 The Agent shall only be obliged to execute a Transfer Certificate delivered to it by the Existing Lender and
the New Lender once it is satisfied it has complied with all necessary ‘‘know your customer’’ or other similar checks under all applicable laws and regulations in relation to the transfer to such New Lender.

  

	(c)	 Subject to Clause 23.10 (Pro rata interest settlement), on the Transfer Date: 

 

	 	(i)	 to the extent that in the Transfer Certificate the Existing Lender seeks to transfer by novation its rights and
obligations under the Finance Documents, each of the Obligors and the Existing Lender shall be released from further obligations towards one another under the Finance Documents and their respective rights against one another under the Finance
Documents shall be cancelled (being the Discharged Rights and Obligations); 

  

	 	(ii)	 each of the Obligors and the New Lender shall assume obligations towards one another and/or acquire rights
against one another which differ from the Discharged Rights and Obligations only insofar as that Obligor and the New Lender have assumed and/or acquired the same in place of that Obligor and the Existing Lender; 

 

	 	(iii)	 the Agent, the Security Agent, the New Lender and other Lenders shall acquire the same rights and assume the
same obligations between themselves as they would have acquired and assumed had the New Lender been an Original Lender with the rights and/or obligations acquired or assumed by it as a result of the transfer and to that extent the Agent, the
Security Agent and the Existing Lender shall each be released from further obligations to each other under the Finance Documents; and 

  

	 	(iv)	 the New Lender shall become a Party as a ‘‘Lender’’. 

 

	23.7	 Procedure for assignment 

 

	(a)	 Subject to the conditions set out in Clause 23.2 (Conditions of assignment or transfer), an assignment may be
effected in accordance with paragraph (c) below when the Agent executes an otherwise duly completed Assignment Agreement delivered to it by the Existing Lender and the New Lender. The Agent shall, subject to paragraph (b) below, as soon as
reasonably practicable after receipt by it of a duly completed Assignment Agreement appearing on its face to comply with the terms of this Agreement and delivered in accordance with the terms of this Agreement, execute that Assignment Agreement.

  

	(b)	 The Agent shall only be obliged to execute an Assignment Agreement delivered to it by the Existing Lender and
the New Lender once it is satisfied it has complied with all necessary ‘‘know your customer’’ or other similar checks under all applicable laws and regulations in relation to the assignment to such New Lender.

  
 66 

	(c)	 Subject to Clause 23.10 (Pro rata interest settlement), on the Transfer Date: 

 

	 	(i)	 the Existing Lender will assign absolutely to the New Lender the rights under the Finance Documents expressed
to be the subject of the assignment in the Assignment Agreement; 

  

	 	(ii)	 the Existing Lender will be released by each Obligor and the other Finance Parties from the obligations owed by
it (the Relevant Obligations) and expressed to be the subject of the release in the Assignment Agreement; and 

  

	 	(iii)	 the New Lender shall become a Party as a ‘‘Lender’’ and will be bound by obligations
equivalent to the Relevant Obligations. 

  

	(d)	 Lenders may utilise procedures other than those set out in this Clause 23.7 to assign their rights under the
Finance Documents (but not, without the consent of the relevant Obligor or unless in accordance with Clause 23.6 (Procedure for transfer), to obtain a release by that Obligor from the obligations owed to that Obligor by the Lenders nor the
assumption of equivalent obligations by a New Lender) provided that they comply with the conditions set out in Clause 23.2 (Conditions of assignment or transfer). 

 

	23.8	 Copy of Transfer Certificate, Assignment Agreement or Increase Confirmation to Company

 The Agent shall, as soon as reasonably practicable after it has executed a Transfer Certificate, an Assignment
Agreement or an Increase Confirmation, send to the Company a copy of that Transfer Certificate, Assignment Agreement or Increase Confirmation. 
  

	23.9	 Security over Lenders’ rights 

In addition to the other rights provided to Lenders under this Clause 23, each Lender may, without consulting with or obtaining consent from
any Obligor, at any time charge, assign or otherwise create Security in or over (whether by way of collateral or otherwise) all or any of its rights under any Finance Document to secure obligations of that Lender including, without limitation: 

 

	 	(a)	 any charge, assignment or other Security to secure obligations to a federal reserve or central bank; and

  

	 	(b)	 in the case of any Lender which is a fund, any charge, assignment or other Security granted to any holders (or
trustee or representatives of holders) of obligations owed, or securities issued, by that Lender as security for those obligations or securities, 

except that no such charge, assignment or Security shall: 
  

	 	(i)	 release a Lender from any of its obligations under the Finance Documents or substitute the beneficiary of the
relevant charge, assignment or Security for the Lender as a party to any of the Finance Documents; or 

  

	 	(ii)	 require any payments to be made by an Obligor other than or in excess of, or grant to any person any more
extensive rights than, those required to be made or granted to the relevant Lender under the Finance Documents. 

  
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	23.10	 Pro rata interest settlement 

 

	(a)	 If the Agent has notified the Lenders that it is able to distribute interest payments on a ‘‘pro rata
basis’’ to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 23.6 (Procedure for transfer) or any assignment pursuant to Clause 23.7 (Procedure for assignment) the Transfer Date of which, in each case, is
after the date of such notification and is not on the last day of an Interest Period): 

  

	 	(i)	 any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the
lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer Date (Accrued Amounts) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last
day of the current Interest Period (or, if the Interest Period is longer than six Months, on the next of the dates which falls at six-Monthly intervals after the first day of that Interest Period); and

  

	 	(ii)	 the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts, so
that, for the avoidance of doubt: 

  

	 	(A)	 when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and

  

	 	(B)	 the amount payable to the New Lender on that date will be the amount which would, but for the application of
this Clause 23.10, have been payable to it on that date, but after deduction of the Accrued Amounts. 

  

	(b)	 In this Clause 23.10 references to ‘‘Interest Period’’ shall be construed to include a
reference to any other period for accrual of fees. 

  

	(c)	 An Existing Lender which retains the right to the Accrued Amounts pursuant to this Clause 23.10 but which does
not have a Commitment shall be deemed not to be a Lender for the purposes of ascertaining whether the agreement of any specified group of Lenders has been obtained to approve any request for a consent, waiver, amendment or other vote of Lenders
under the Finance Documents. 

  

	24.	 CHANGES TO THE OBLIGORS 

 

	24.1	 Assignments and transfer by Obligors 

No Obligor may assign any of its rights or transfer any of its rights or obligations under the Finance Documents. 

 

	24.2	 Additional Borrowers 

 

	(a)	 Subject to compliance with the provisions of paragraphs (c) and (d) of Clause 19.10 (‘‘Know your
customer’’ checks), the Company may request that any wholly owned Subsidiary of the Parent duly organised under the laws of Peru becomes an Additional Borrower. That Subsidiary shall become an Additional Borrower if: 

 

	 	(i)	 all Lenders approve the addition of that Subsidiary; 

 

	 	(ii)	 the Company delivers to the Agent a duly completed and executed Accession Letter; 

 

	 	(iii)	 the Company confirms that no Default is continuing or would occur as a result of that Subsidiary becoming an
Additional Borrower; and 

  
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	 	(iv)	 the Agent has received all of the documents and other evidence listed in Part 2 of Schedule 2 (Conditions
Precedent) in relation to that Additional Borrower, each in form and substance satisfactory to the Agent. 

  

	(b)	 The Agent shall notify the Company and the Lenders promptly upon being satisfied that it has received (in form
and substance satisfactory to it) all the documents and other evidence listed in Part 2 of Schedule 2 (Conditions Precedent). 

  

	(c)	 Other than to the extent that the Majority Lenders notify the Agent in writing to the contrary before the Agent
gives the notification described in paragraph (b) above, the Lenders authorise (but do not require) the Agent to give that notification. The Agent shall not be liable for any damages, costs or losses whatsoever as a result of giving any such
notification. 

  

	24.3	 Resignation of a Borrower 

 

	(a)	 The Company may request that a Borrower (other than the Company) ceases to be a Borrower by delivering to the
Agent a Resignation Letter. 

  

	(b)	 The Agent shall accept a Resignation Letter and notify the Company and the Lenders of its acceptance if:

  

	 	(i)	 no Default is continuing or would result from the acceptance of the Resignation Letter (and the Company has
confirmed this is the case); and 

  

	 	(ii)	 the Borrower is under no actual or contingent obligations as a Borrower under any Finance Documents,

 whereupon that company shall cease to be a Borrower and shall have no further rights or obligations under the Finance
Documents. 
  

	24.4	 Additional Guarantors 

 

	(a)	 Subject to compliance with the provisions of paragraphs (c) and (d) of Clause 19.10 (‘‘Know your
customer’’ checks), the Company may request that any wholly owned Subsidiary of the Parent duly organised under the laws of Peru becomes an Additional Guarantor. That Subsidiary shall become an Additional Guarantor if:

  

	 	(i)	 the Company delivers to the Agent a duly completed and executed Accession Letter; and 

 

	 	(ii)	 the Agent has received all of the documents and other evidence listed in Part 2 of Schedule 2 (Conditions
Precedent) in relation to that Additional Guarantor, each in form and substance satisfactory to the Agent. 

  

	(b)	 The Agent shall notify the Company and the Lenders promptly upon being satisfied that it has received (in form
and substance satisfactory to it) all the documents and other evidence listed in Part 2 of Schedule 2 (Conditions Precedent). 

  

	(c)	 Other than to the extent that the Majority Lenders notify the Agent in writing to the contrary before the Agent
gives the notification described in paragraph (b) above, the Lenders authorise (but do not require) the Agent to give that notification. The Agent shall not be liable for any damages, costs or losses whatsoever as a result of giving any such
notification. 

  
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	24.5	 Repetition of representations 

Delivery of an Accession Letter constitutes confirmation by the relevant Subsidiary that the Repeating Representations are true and correct in
relation to it as at the date of delivery as if made by reference to the facts and circumstances then existing. 
  

	24.6	 Resignation of a Guarantor 

 

	(a)	 The Company may request that a Guarantor ceases to be a Guarantor by delivering to the Agent a Resignation
Letter. 

  

	(b)	 The Agent shall accept a Resignation Letter and notify the Company and the Lenders of its acceptance if:

  

	 	(i)	 no Default is continuing or would result from the acceptance of the Resignation Letter (and the Company has
confirmed this is the case); and 

  

	 	(ii)	 all the Lenders have consented to the Company’s request. 

 

	25.	 ROLE OF THE AGENT, THE SECURITY AGENT, THE ARRANGER AND THE REFERENCE BANKS 

 

	25.1	 Appointment of the Agent and the Security Agent 

 

	(a)	 Each other Finance Party appoints the Agent to act as its agent under and in connection with the Finance
Documents. 

  

	(b)	 Each other Finance Party appoints the Security Agent to act as security trustee under and in connection with
the Finance Documents in relation to any security interest which is expressed to be or is construed to be governed by English or Peruvian law, or any other law from time to time designated by the Security Agent and an Obligor. 

 

	(c)	 Except as expressly provided in paragraph (b) above, each other Finance Party appoints the Security Agent
to act as security agent under and in connection with the Finance Documents. 

  

	(d)	 Each other Finance Party authorises each of the Agent and the Security Agent to exercise the rights, powers,
authorities and discretions specifically given to it under or in connection with the Finance Documents together with any other incidental rights, powers, authorities and discretions. 

 

	25.2	 Instructions 

  

	(a)	 The Agent and the Security Agent shall: 

 

	 	(i)	 unless a contrary indication appears in a Finance Document, exercise or refrain from exercising any right,
power, authority or discretion vested in it as Agent or Security Agent (as appropriate) in accordance with any instructions given to it by: 

  

	 	(A)	 all Lenders if the relevant Finance Document stipulates the matter is an all Lender decision; and

  

	 	(B)	 in all other cases, the Majority Lenders; and 

 

	 	(ii)	 not be liable for any act (or omission) if it acts (or refrains from acting) in accordance with paragraph
(i) above. 

  
 70 

	(b)	 The Agent and the Security Agent shall be entitled to request instructions, or clarification of any
instruction, from the Majority Lenders (or, if the relevant Finance Document stipulates the matter is a decision for any other Lender or group of Lenders, from that Lender or group of Lenders) as to whether, and in what manner, it should exercise or
refrain from exercising any right, power, authority or discretion. The Agent and the Security Agent may refrain from acting unless and until it receives any such instructions or clarification that it has requested. 

 

	(c)	 Other than to the extent that the Majority Lenders notify the Agent or the Security Agent (as appropriate) in
writing to the contrary before the Agent or the Security Agent (as appropriate) gives the notification described in paragraph (b) above, the Lenders authorise (but do not require) the Agent or the Security Agent (as appropriate) to give that
notification. The Agent and the Security Agent shall not be liable for any damages, costs or losses whatsoever as a result of giving any such notification. 

  

	25.3	 Duties of the Agent and the Security Agent 

 

	(a)	 Subject to paragraph (b) below, the Agent shall promptly forward to a Party the original or a copy of any
document which is delivered to the Agent for that Party by any other Party. 

  

	(b)	 Without prejudice to Clause 23.8 (Copy of Transfer Certificate, Assignment Agreement or Increase Confirmation
to Company), paragraph (a) above shall not apply to any Transfer Certificate, any Assignment Agreement or any Increase Confirmation. 

  

	(c)	 Except where a Finance Document specifically provides otherwise, the Agent is not obliged to review or check
the adequacy, accuracy or completeness of any document it forwards to another Party. 

  

	(d)	 If the Agent receives notice from a Party referring to this Agreement, describing a Default and stating that
the circumstance described is a Default, it shall promptly notify the Finance Parties. 

  

	(e)	 If the Agent is aware of the non-payment of any principal, interest,
commitment fee or other fee payable to a Finance Party (other than the Agent or the Arranger) under this Agreement it shall promptly notify the other Finance Parties. 

 

	(f)	 The Agent and the Security Agent shall only have those duties, obligations and responsibilities expressly
specified in the Finance Documents to which it is expressed to be a party (and no other shall be implied). 

  

	(g)	 The duties of the Agent and the Security Agent under the Finance Documents are solely mechanical and
administrative in nature. 

  

	25.4	 Role of the Arranger 

Except as specifically provided in the Finance Documents, the Arranger has no obligations of any kind to any other Party under or in connection
with any Finance Document. 
  

	25.5	 Role of the Security Agent 

The Security Agent shall not be an agent of (except as expressly provided in any Finance Document) any Finance Party under or in connection
with any Finance Document. 

  
 71 

	25.6	 No fiduciary duties 

 

	(a)	 Nothing in this Agreement constitutes the Agent, the Security Agent (except as expressly provided in any
Finance Document) or the Arranger as a trustee or fiduciary of any other person. 

  

	(b)	 Neither the Agent, the Security Agent (except as expressly provided in any Finance Document) nor the Arranger
shall be bound to account to any Lender for any sum or the profit element of any sum received by it for its own account. 

  

	25.7	 Business with the Group 

The Agent and the Security Agent may accept deposits from, lend money to and generally engage in any kind of banking or other business with any
member of the Group. 
  

	25.8	 Rights and discretions of the Agent and the Security Agent 

 

	(a)	 The Agent and the Security Agent may rely on: 

 

	 	(i)	 any representation, communication, notice or document believed by it to be genuine, correct and appropriately
authorised; and 

  

	 	(ii)	 assume that: 

  

	 	(A)	 any instructions received by it from the Majority Lenders, any Lenders or any group of Lenders are duly given
in accordance with the terms of the Finance Documents; and 

  

	 	(B)	 unless it has received notice of revocation, that those instructions have not been revoked; and

  

	 	(iii)	 rely on a certificate from any person: 

 

	 	(A)	 as to any matter of fact or circumstance which might reasonably be expected to be within the knowledge of that
person; or 

  

	 	(B)	 to the effect that such person approves of any particular dealing, transaction, step, action or thing,

 as sufficient evidence that that is the case and, in the case of paragraph (A) above, may assume the truth and
accuracy of that certificate. 
  

	(b)	 The Agent and the Security Agent may assume (unless it has received notice to the contrary in its capacity as
agent for the Lenders or, as the case may be, as security agent or security trustee for the Finance Parties) that: 

  

	 	(i)	 no Default has occurred (unless it has actual knowledge of a Default arising under Clause 22.1 (Non-payment)); 

  

	 	(ii)	 any right, power, authority or discretion vested in any Party or the Majority Lenders has not been exercised;
and 

  

	 	(iii)	 any notice or request made by the Company (other than a Utilisation Request) is made on behalf of and with the
consent and knowledge of all the Obligors. 

  
 72 

	(c)	 The Agent and the Security Agent may engage and pay for the advice or services of any lawyers, accountants, tax
advisers, surveyors or other professional advisers or experts. 

  

	(d)	 Without prejudice to the generality of paragraph (c) above or paragraph (e) below, the Agent and/or
the Security Agent may at any time engage and pay for the services of any lawyers to act as independent counsel to the Agent and/or the Security Agent (and so separate from any lawyers instructed by the Lenders) if the Agent and/or the Security
Agent in its reasonable opinion deems this to be necessary. 

  

	(e)	 Each of the Agent and the Security Agent may engage, pay for and rely on the advice or services of any lawyers,
accountants, tax advisers, surveyors or other professional advisers or experts (whether obtained by the Agent, the Security Agent or by any other Party) and shall not be liable for any damages, costs or losses to any person, any diminution in value
or any liability whatsoever arising as a result of its so relying. 

  

	(f)	 Each of the Agent and the Security Agent may act in relation to the Finance Documents through its officers,
employees and agents, and the Agent and Security Agent shall not, in respect of any agent, 

 (i) be liable for any error
of judgment made by such agent and (ii) be bound to supervise or be in any way responsible for any loss incurred by reason of misconduct, omission or default on the part of any such agent unless such error or such loss was caused by the
Agent’s or the Security Agent’s gross negligence or wilful misconduct. 
  

	(g)	 Unless a Finance Document expressly provides otherwise, the Agent may disclose to any other Party any
information it reasonably believes it has received as agent under this Agreement. 

  

	(h)	 Without prejudice to the generality of paragraph (e) above, the Agent may disclose the identity of a
Defaulting Lender to the other Finance Parties and the Company and shall, as soon as reasonably practicable, disclose the same upon the written request of the Company or the Majority Lenders. 

 

	(i)	 Notwithstanding any other provision of any Finance Document to the contrary, neither the Agent, the Security
Agent nor the Arranger is obliged to do or omit to do anything if it would or might in its reasonable opinion constitute a breach of any law or regulation or a breach of a fiduciary duty or duty of confidentiality. 

 

	(j)	 Notwithstanding any provision of any Finance Document to the contrary, the Agent is not obliged to expend or
risk its own funds or otherwise incur any financial liability in the performance of its duties, obligations or responsibilities or the exercise of any right, power, authority or discretion if it has grounds for believing the repayment of such funds
or adequate indemnity against, or security for, such risk or liability is not reasonably assured to it. 

  

	25.9	 Responsibility for documentation 

Neither the Agent, the Security Agent nor the Arranger is responsible or liable for: 

 

	 	(a)	 the adequacy, accuracy or completeness of any information (whether oral or written) supplied by the Agent, the
Security Agent, the Arranger, an Obligor or any other person given in or in connection with any Finance Document or the transactions contemplated in the Finance Documents or any other agreement, arrangement or document entered into, made or executed
in anticipation of, under or in connection with any Finance Document; or 

  

	 	(b)	 the legality, validity, effectiveness, adequacy or enforceability of any Finance Document or any other
agreement, arrangement or document entered into, made or executed in anticipation of, under or in connection with any Finance Document; or 

  
 73 

	 	(c)	 any determination as to whether any information provided or to be provided to any Finance Party is non-public information, the use of which may be regulated or prohibited by Applicable Law or regulation relating to insider dealing or otherwise. 

 

	25.10	 No duty to monitor 

The Agent shall not be bound to enquire: 
  

	 	(a)	 whether or not any Default has occurred; 

 

	 	(b)	 as to the performance, default or any breach by any Party of its obligations under any Finance Document; or

  

	 	(c)	 whether any other event specified in any Finance Document has occurred. 

 

	25.11	 Exclusion of liability 

 

	(a)	 Without limiting paragraph (b) below (and without prejudice to any other provision of any Finance Document
excluding or limiting the liability of the Agent), the Agent will not be liable for: 

  

	 	(i)	 any damages, costs or losses to any person, any diminution in value, or any liability whatsoever arising as a
result of taking or not taking any action under or in connection with any Finance Document, unless directly caused by its gross negligence or wilful misconduct; 

 

	 	(ii)	 exercising, or not exercising, any right, power, authority or discretion given to it by, or in connection with,
any Finance Document or any other agreement, arrangement or document entered into, made or executed in anticipation of, under or in connection with, any Finance Document, other than by reason of its gross negligence or wilful misconduct; or

  

	 	(iii)	 without prejudice to the generality of paragraphs (i) and (ii) above, any damages, costs or losses to any
person, any diminution in value or any liability whatsoever (including, without limitation, for negligence or any other category of liability whatsoever but not including any claim based on the fraud of the Agent) arising as a result of:

  

	 	(A)	 any act, event or circumstance not reasonably within its control; or 

 

	 	(B)	 the general risks of investment in, or the holding of assets in, any jurisdiction, 

including (in each case and without limitation) such damages, costs, losses, diminution in value or liability arising as a result of:
nationalisation, expropriation or other governmental actions; any regulation, currency restriction, devaluation or fluctuation; market conditions affecting the execution or settlement of transactions or the value of assets (including any Disruption
Event); breakdown, failure or malfunction of any third party transport, telecommunications, computer services or systems; natural disasters or acts of God; war, terrorism, insurrection or revolution; or strikes or industrial action. 

 

	(b)	 No Party (other than the Agent or the Security Agent) may take any proceedings against any officer, employee or
agent of the Agent or the Security Agent in respect of any claim it might have against the Agent or the Security Agent or in respect of any act or omission of any kind by that officer, employee or agent in relation to any Finance Document, and any
officer, employee or agent of the Agent or the Security Agent may rely on this Clause 25.11. 

  

	(c)	 Neither the Agent nor the Security Agent will be liable for any delay (or any related consequences) in
crediting an account with an amount required under the Finance Documents to be paid by it if it has taken all necessary steps as soon as reasonably practicable to comply with the regulations or operating procedures of any recognised clearing or
settlement system used by it for that purpose. 

  
 74 

	(d)	 Nothing in this Agreement shall oblige the Agent, the Security Agent or the Arranger to carry out:

  

	 	(i)	 any ‘‘know your customer’’ or other checks in relation to any person; or

  

	 	(ii)	 any check on the extent to which any transaction contemplated by this Agreement might be unlawful for any
Lender, 

 on behalf of any Lender, and each Lender confirms to the Agent, the Security Agent and the Arranger that it is
solely responsible for any such checks it is required to carry out and that it may not rely on any statement in relation to such checks made by the Agent, the Security Agent or the Arranger. 

 

	(e)	 Without prejudice to any provision of any Finance Document excluding or limiting the Agent or the Security
Agent’s liability, any liability of the Agent or the Security Agent arising under or in connection with any Finance Document shall be limited to the amount of actual loss which has been finally judicially determined to have been suffered (as
determined by reference to the date of default of the Agent or the Security Agent or, if later, the date on which the loss arises as a result of such default) but without reference to any special conditions or circumstances known to the Agent or the
Security Agent at any time which increase the amount of that loss. In no event shall the Agent or the Security Agent be liable for any loss of profits, goodwill, reputation, business opportunity or anticipated saving, or for special, punitive,
indirect or consequential damages, whether or not the Agent or the Security Agent has been advised of the possibility of such loss or damages. 

  

	25.12	 Lenders’ indemnity to the Agent and the Security Agent 

 

	(a)	 Each Lender shall (in proportion to its share of the Total Commitments or, if the Total Commitments are then
zero, to its share of the Total Commitments immediately prior to their reduction to zero) indemnify the Agent and the Security Agent, within three Business Days of demand, against the amount of actual loss which has been finally judicially
determined to have been suffered by the Agent or the Security Agent (otherwise than by reason of the Agent’s or the Security Agent’s gross negligence or wilful misconduct) (or in the case of any actual loss pursuant to Clause 28.11
(Disruption to payment systems etc.) notwithstanding the Agent’s or the Security Agent’s negligence, gross negligence or any other category of liability whatsoever but not including any claim based on the fraud of the Agent or the Security
Agent) in acting as Agent or, as the case may be, Security Agent under the Finance Documents (unless the Agent or the Security Agent has been reimbursed by an Obligor pursuant to a Finance Document). In no event shall the Lenders indemnify the Agent
or the Security Agent for any special, punitive, indirect or consequential damages, whether or not the Lenders have been advised of the possibility of such damages. 

 

	(b)	 Subject to paragraph (c) below, the Company shall immediately on demand reimburse any Lender for any
payment that Lender makes to the Agent or Security Agent pursuant to paragraph (a) above. 

  

	(c)	 Paragraph (b) above shall not apply to the extent that the indemnity payment in respect of which the
Lender claims reimbursement is related to the liability of the Agent or Security Agent to an Obligor. 

  

	25.13	 Resignation of the Agent or the Security Agent 

 

	(a)	 The Agent or the Security Agent may resign and appoint one of its Affiliates acting through an office in the
same jurisdiction of incorporation as successor by giving notice to the other Finance Parties and the Company. 

  
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	(b)	 Alternatively, the Agent or the Security Agent may resign by giving 30 days’ notice to the other Finance
Parties and the Company, in which case the Majority Lenders (after consultation with the Company) may appoint a successor Agent or, as the case may be, Security Agent. 

 

	(c)	 If the Majority Lenders have not appointed a successor Agent or, as the case may be, Security Agent in
accordance with paragraph (b) above within 20 days after notice of resignation was given, the retiring Agent or, as the case may be, Security Agent (after consultation with the Company) may appoint a successor Agent or Security Agent (acting
through an office in the same jurisdiction of incorporation). 

  

	(d)	 If the Agent or the Security Agent wishes to resign because (acting reasonably) it has concluded that it is no
longer appropriate for it to remain as agent or security agent and the Agent or, as the case may be, the Security Agent is entitled to appoint a successor Agent or Security Agent (as appropriate) under paragraph (c) above, the Agent or the
Security Agent (as appropriate) may (if it concludes (acting reasonably) that it is necessary to do so in order to persuade the proposed successor Agent or Security Agent (as appropriate) to become a party to this Agreement as Agent or Security
Agent (as appropriate)) agree with the proposed successor Agent or Security Agent (as appropriate) amendments to this Clause 25 and any other term of this Agreement dealing with the rights or obligations of the Agent and Security Agent consistent
with then current market practice for the appointment and protection of corporate trustees together with any reasonable amendments to the agency fee or security agency fee payable under this Agreement which are consistent with the successor Agent
and Security Agent’s normal fee rates, and those amendments will bind the Parties. 

  

	(e)	 The retiring Agent or Security Agent shall, at its own cost, make available to its successor such documents and
records and provide such assistance as its successor may reasonably request for the purposes of performing its functions as Agent or Security Agent under the Finance Documents. 

 

	(f)	 The resignation notice of the Agent or Security Agent shall only take effect upon the appointment of a
successor and, in the case of the Security Agent, upon the transfer of all of the Security Property to that successor. 

  

	(g)	 Upon the appointment of a successor, the retiring Agent or Security Agent shall be discharged from any further
obligation in respect of the Finance Documents (other than its obligations under paragraph (e) above) but shall remain entitled to the benefit of Clause 14.3 (Indemnity to the Agent), Clause 14.4 (Indemnity to the Security Agent) and this
Clause 25 (and any agency fees for the account of the retiring Agent and Security Agent shall cease to accrue from (and shall be payable on) that date). Its successor and each of the other Parties shall have the same rights and obligations among
themselves as they would have had if such successor had been an original Party. 

  

	(h)	 After consultation with the Company, the Majority Lenders may, by giving three days’ notice to the Agent
or, as the case may be, the Security Agent, require it to resign in accordance with paragraph 

 (b) above. In this event,
the Agent or, as the case may be, the Security Agent shall resign in accordance with paragraph (b) above but the cost referred to in paragraph (d) above shall be for the account of the Company. 

 

	(i)	 The Agent shall resign in accordance with paragraph (b) above (and, to the extent applicable, shall use
reasonable endeavours to appoint a successor Agent pursuant to paragraph (c) above) if on or after the date which is three months before the earliest FATCA Application Date relating to any payment to the Agent under the Finance Documents,
either: 

  

	 	(i)	 the Agent fails to respond to a request under Clause 12.7 (FATCA information) and the Company or a Lender
reasonably believes that the Agent will not be (or will have ceased to be) a FATCA Exempt Party on or after that FATCA Application Date; 

  
 76 

	 	(ii)	 the information supplied by the Agent pursuant to Clause 12.7 (FATCA information) indicates that the Agent will
not be (or will have ceased to be) a FATCA Exempt Party on or after that FATCA Application Date; or 

  

	 	(iii)	 the Agent notifies the Company and the Lenders that the Agent will not be (or will have ceased to be) a FATCA
Exempt Party on or after that FATCA Application Date, 

 and (in each case) the Company or a Lender reasonably believes
that a Party will be required to make a FATCA Deduction that would not be required if the Agent were a FATCA Exempt Party, and the Company or that Lender, by notice to the Agent, requires it to resign. 

 

	25.14	 Confidentiality 

 

	(a)	 The Agent (in acting as agent for the Finance Parties) and the Security Agent (in acting as security agent or
trustee for the Finance Parties) shall be regarded as acting through its respective agency or security agency or trustee division which in each case shall be treated as a separate entity from any other of its divisions or departments.

  

	(b)	 If information is received by another division or department of the Agent or, as the case may be, the Security
Agent, it may be treated as confidential to that division or department and the Agent or, as the case may be, the Security Agent shall not be deemed to have notice of it. 

 

	25.15	 Relationship with the Lenders 

 

	(a)	 Subject to Clause 23.10 (Pro rata interest settlement), the Agent may treat the person shown in its records as
Lender at the opening of business (in the place of the Agent’s principal office as notified to the Finance Parties from time to time) as the Lender acting through its Facility Office: 

 

	 	(i)	 entitled to or liable for any payment due under any Finance Document on that day; and 

 

	 	(ii)	 entitled to receive and act upon any notice, request, document or communication or make any decision or
determination under any Finance Document made or delivered on that day, 

 unless it has received not less than five
Business Days’ prior notice from that Lender to the contrary in accordance with the terms of this Agreement. 
  

	(b)	 Any Lender may, by notice to the Agent, appoint a person to receive on its behalf all notices, communications,
information and documents to be made or despatched to that Lender under the Finance Documents. Such notice shall contain the address, fax number and (where communication by electronic mail or other electronic means is permitted under Clause 30.6
(Electronic communication)) electronic mail address and/or any other information required to enable the transmission of information by that means (and, in each case, the department or officer, if any, for whose attention communication is to be made)
and be treated as a notification of a substitute address, fax number, electronic mail address (or such other information), department and officer by that Lender for the purposes of Clause 30.2 (Addresses) and Clause (a)(ii) of Clause 30.6
(Electronic communication) and the Agent shall be entitled to treat such person as the person entitled to receive all such notices, communications, information and documents as though that person were that Lender. 

 

	25.16	 Credit appraisal by the Lenders 

Without affecting the responsibility of any Obligor for information supplied by it or on its behalf in connection with any Finance Document,
each Lender confirms to the Agent, the Security Agent and the Arranger that it has been, and will continue to be, solely responsible for making its own independent appraisal and investigation of all risks arising under or in connection with any
Finance Document including, but not limited to: 
  

	 	(a)	 the financial condition, status and nature of each member of the Group; 

  
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	 	(b)	 the legality, validity, effectiveness, adequacy or enforceability of any Finance Document and any other
agreement, Security, arrangement or document entered into, made or executed in anticipation of, under or in connection with any Finance Document; 

  

	 	(c)	 whether that Lender has recourse, and the nature and extent of that recourse, against any Party or any of its
respective assets under or in connection with any Finance Document, the transactions contemplated by the Finance Documents or any other agreement, Security, arrangement or document entered into, made or executed in anticipation of, under or in
connection with any Finance Document; and 

  

	 	(d)	 the adequacy, accuracy and/or completeness of any other information provided by the Agent, the Security Agent,
any Party or any other person under or in connection with any Finance Document, the transactions contemplated by the Finance Documents or any other agreement, Security, arrangement or document entered into, made or executed in anticipation of, under
or in connection with any Finance Document. 

  

	25.17	 Management Time of the Agent and the Security Agent 

Any amount payable to the Agent or the Security Agent under Clause 14.3 (Indemnity to the Agent), Clause 14.4 (Indemnity to the Security
Agent), Clause 16 (Costs and Expenses) and paragraph (a) of Clause 25.12 (Lenders’ indemnity to the Agent and the Security Agent) shall include the cost of utilising its management time or other resources and will be calculated on the
basis of such reasonable daily or hourly rates as it may notify to the Company and the Lenders, and is in addition to any fee paid or payable to it under Clause 11 (Fees). 
  

	25.18	 Security Agency Provisions 

The provisions of Schedule 8 (Security Agency Provisions) shall bind each Party. 

 

	25.19	 Deduction from amounts payable by the Agent 

If any Party owes an amount to the Agent or the Security Agent under the Finance Documents, the Agent or the Security Agent (as the case may
be) may, after giving notice to that Party, deduct an amount not exceeding that amount from any payment to that Party which the Agent or the Security Agent (as the case may be) would otherwise be obliged to make under the Finance Documents and apply
the amount deducted in or towards satisfaction of the amount owed. For the purposes of the Finance Documents, that Party shall be regarded as having received any amount so deducted. 

 

	25.20	 Role of Reference Banks 

 

	(a)	 No Reference Bank is under any obligation to provide a quotation or any other information to the Agent.

  

	(b)	 No Reference Bank will be liable for any action taken by it under or in connection with any Finance Document,
or for any Reference Bank Quotation, unless directly caused by its gross negligence or wilful misconduct. 

  
 78 

	(c)	 No Party (other than the relevant Reference Bank) may take any proceedings against any officer, employee or
agent of any Reference Bank in respect of any claim it might have against that Reference Bank or in respect of any act or omission of any kind by that officer, employee or agent in relation to any Finance Document, or to any Reference Bank
Quotation, and any officer, employee or agent of each Reference Bank may rely on this Clause 25.20 subject to Clause 1.4 (Third party rights) and the provisions of the Third Parties Act. 

 

	25.21	 Third party Reference Banks 

A Reference Bank which is not a Party may rely on Clause 25.20 (Role of Reference Banks), paragraph (b) of Clause 34.2 (Exceptions) and
Clause 36 (Confidentiality of Funding Rates and Reference Bank Quotations) subject to Clause 1.4 (Third party rights) and the provisions of the Third Parties Act. 
  

	26.	 CONDUCT OF BUSINESS BY THE FINANCE PARTIES  

No provision of this Agreement will: 
  

	 	(a)	 interfere with the right of any Finance Party to arrange its affairs (tax or otherwise) in whatever manner it
thinks fit; 

  

	 	(b)	 oblige any Finance Party to investigate or claim any credit, relief, remission or repayment available to it or
the extent, order and manner of any claim; or 

  

	 	(c)	 oblige any Finance Party to disclose any information relating to its affairs (tax or otherwise) or any
computations in respect of Tax. 

  

	27.	 SHARING AMONG THE FINANCE PARTIES 

 

	27.1	 Payments to Finance Parties 

If a Finance Party (a Recovering Finance Party) receives or recovers any amount from an Obligor other than in accordance with Clause 28
(Payment Mechanics) (a Recovered Amount) and applies that amount to a payment due under the Finance Documents, then: 
  

	 	(a)	 the Recovering Finance Party shall, within three Business Days, notify details of the receipt or recovery to
the Agent; 

  

	 	(b)	 the Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Finance
Party would have been paid had the receipt or recovery been received or made by the Agent and distributed in accordance with Clause 28 (Payment Mechanics), without taking account of any Tax which would be imposed on the Agent in relation to the
receipt, recovery or distribution; and 

  

	 	(c)	 the Recovering Finance Party shall, within three Business Days of demand by the Agent, pay to the Agent an
amount (the Sharing Payment) equal to such receipt or recovery less any amount which the Agent determines may be retained by the Recovering Finance Party as its share of any payment to be made, in accordance with Clause 28.6 (Partial
payments). 

  

	27.2	 Redistribution of payments 

The Agent shall treat the Sharing Payment as if it had been paid by the relevant Obligor and distribute it between the Finance Parties (other
than the Recovering Finance Party) (the Sharing Finance Parties) in accordance with Clause 28.6 (Partial payments) towards the obligations of that Obligor to the Sharing Finance Parties. 

  
 79 

	27.3	 Recovering Finance Party’s rights 

On a distribution by the Agent under Clause 27.2 (Redistribution of payments) of a payment received by a Recovering Finance Party from an
Obligor, as between the relevant Obligor and the Recovering Finance Party, an amount of the Recovered Amount equal to the Sharing Payment will be treated as not having been paid by that Obligor. 

 

	27.4	 Reversal of redistribution 

If any part of the Sharing Payment received or recovered by a Recovering Finance Party becomes repayable and is repaid by that Recovering
Finance Party, then: 
  

	 	(a)	 each Sharing Finance Party shall, upon request of the Agent, pay to the Agent for the account of that
Recovering Finance Party an amount equal to the appropriate part of its share of the Sharing Payment (together with an amount as is necessary to reimburse that Recovering Finance Party for its proportion of any interest on the Sharing Payment which
that Recovering Finance Party is required to pay) (the Redistributed Amount); and 

  

	 	(b)	 as between the relevant Obligor and each relevant Sharing Finance Party, an amount equal to the relevant
Redistributed Amount will be treated as not having been paid by that Obligor. 

  

	27.5	 Exceptions 

  

	(a)	 This Clause 27 shall not apply to the extent that the Recovering Finance Party would not, after making any
payment pursuant to this Clause 27, have a valid and enforceable claim against the relevant Obligor. 

  

	(b)	 A Recovering Finance Party is not obliged to share with any other Finance Party any amount which the Recovering
Finance Party has received or recovered as a result of taking legal or arbitration proceedings, if: 

  

	 	(i)	 it notified that other Finance Party of the legal or arbitration proceedings; and 

 

	 	(ii)	 that other Finance Party had an opportunity to participate in those legal or arbitration proceedings but did
not do so as soon as reasonably practicable having received notice and did not take separate legal or arbitration proceedings. 

  

	28.	 PAYMENT MECHANICS 

 

	28.1	 Payments to the Agent 

 

	(a)	 On each date on which an Obligor or a Lender is required to make a payment under a Finance Document, that
Obligor (subject to Clause 28.12 (Payments to the Security Agent)) or Lender shall make the same available to the Agent (unless a contrary indication appears in a Finance Document) for value on the due date at the time and in such funds specified by
the Agent as being customary at the time for settlement of transactions in the relevant currency in the place of payment, provided that any payment under a Finance Document received by the Agent after 11:00am shall be deemed to have been received by
the Agent on the following Business Day. 

  

	(b)	 Payment shall be made to such account in the principal financial centre of the country of that currency with
such bank as the Agent specifies. 

  
 80 

	28.2	 Distributions by the Agent 

Each payment received by the Agent under the Finance Documents for another Party shall, subject to Clause 28.3 (Distributions to an Obligor),
Clause 28.4 (Clawback and pre-funding) and Clause 28.12 (Payments to the Security Agent), be made available by the Agent, as soon as practicable after receipt, to the Party entitled to receive payment in
accordance with this Agreement (in the case of a Lender, for the account of its Facility Office), to such account as that Party may notify to the Agent by not less than five Business Days’ notice with a bank in the principal financial centre of
the country of that currency. 
  

	28.3	 Distributions to an Obligor 

The Agent and the Security Agent may (with the consent of the Obligor or in accordance with Clause 29
(Set-off)) apply any amount received by it for that Obligor in or towards payment (on the date and in the currency and funds of receipt) of any amount due from that Obligor under the Finance Documents or in,
or towards purchase of, any amount of any currency to be so applied. 
  

	28.4	 Clawback and pre-funding 

 

	(a)	 Where a sum is to be paid to the Agent or the Security Agent under the Finance Documents for another Party, the
Agent or, as the case may be, the Security Agent is not obliged to pay that sum to that other Party (or to enter into or perform any related exchange contract) until it has been able to establish to its satisfaction that it has actually received
that sum. 

  

	(b)	 Unless paragraph (c) below applies, if the Agent or the Security Agent pays an amount to another Party and
it proves to be the case that it had not actually received that amount, then the Party to whom that amount (or the proceeds of any related exchange contract) was paid shall on demand refund the same to the Agent or, as the case may be, the Security
Agent together with interest on that amount from the date of payment to the date of receipt by the Agent or, as the case may be, the Security Agent, calculated by it to reflect its cost of funds. 

 

	(c)	 If the Agent or the Security Agent is willing to make available amounts for the account of a Borrower before
receiving funds from the Lenders then if and to the extent that the Agent or Security Agent (as appropriate) does so but it proves to be the case that it does not then receive funds from a Lender in respect of a sum which it paid to a Borrower:

  

	 	(i)	 the Agent or the Security Agent (as appropriate) shall notify the Company of that Lender’s identity and
the Borrower to whom that sum was made available shall on demand refund it to the Agent; and 

  

	 	(ii)	 the Lender by whom those funds should have been made available or, if that Lender fails to do so, the Borrower
to whom that sum was made available, shall on demand pay to the Agent or the Security Agent (as appropriate) the amount (as certified by the Agent or the Security Agent (as appropriate)) which will indemnify the Agent or the Security Agent (as
appropriate) against any funding cost incurred by it as a result of paying out that sum before receiving those funds from that Lender. 

  

	28.5	 Impaired Agent 

 

	(a)	 If, at any time, the Agent becomes an Impaired Agent, an Obligor or a Lender which is required to make a
payment under the Finance Documents to the Agent in accordance with Clause 28.1 (Payments to the Agent) may instead either: 

  

	 	(i)	 pay that amount direct to the required recipient(s); or 

  
 81 

	 	(ii)	 if in its absolute discretion it considers that it is not reasonably practicable to pay that amount direct to
the required recipient(s), pay that amount or the relevant part of that amount to an interest-bearing account held with an Acceptable Bank and in relation to which no Insolvency Event has occurred and is continuing, in the name of the Obligor or the
Lender making the payment (the Paying Party) and designated as a trust account for the benefit of the Party or Parties beneficially entitled to that payment under the Finance Documents (the Recipient Party or Recipient Parties).

 In each case such payments must be made on the due date for payment under the Finance Documents. 

 

	(b)	 All interest accrued on the amount standing to the credit of the trust account shall be for the benefit of the
Recipient Party or Recipient Parties pro rata to their respective entitlements. 

  

	(c)	 A Party which has made a payment in accordance with this Clause 28.5 shall be discharged of the relevant
payment obligation under the Finance Documents and shall not take any credit risk with respect to the amounts standing to the credit of the trust account. 

  

	(d)	 Promptly upon the appointment of a successor Agent in accordance with paragraph (h) of Clause 25.13
(Resignation of the Agent or the Security Agent), each Paying Party shall (other than to the extent that Party has given an instruction pursuant to paragraph (e) below) give all requisite instructions to the bank with whom the trust account is
held to transfer the amount (together with any accrued interest) to the successor Agent for distribution to the relevant Recipient Party or Recipient Parties in accordance with Clause 28.2 (Distributions by the Agent). 

 

	(e)	 A Paying Party shall, promptly upon request by a Recipient Party and to the extent: 

 

	 	(i)	 that it has not given an instruction pursuant to paragraph (d) above; and 

 

	 	(ii)	 that it has been provided with all the necessary information by that Recipient Party, 

give all requisite instructions to the bank with whom the trust account is held to transfer the relevant amount (together with any accrued
interest) to that Recipient Party. 
  

	28.6	 Partial payments 

 

	(a)	 If the Agent receives a payment that is insufficient to discharge all the amounts then due and payable by an
Obligor under the Finance Documents, the Agent shall apply that payment towards the obligations of that Obligor under the Finance Documents in the following order: 

 

	 	(i)	 first, in or towards payment pro rata of any unpaid amount owing to the Agent, the Security Agent or the
Arranger under the Finance Documents; 

  

	 	(ii)	 secondly, in or towards payment pro rata of any accrued interest, fee or commission due but unpaid under this
Agreement; 

  

	 	(iii)	 thirdly, in or towards payment pro rata of any principal due but unpaid under this Agreement; and

  

	 	(iv)	 fourthly, in or towards payment pro rata of any other sum due but unpaid under the Finance Documents.

  

	(b)	 The Agent shall, if so directed by the Majority Lenders, vary the order set out in paragraphs (a)(ii) to
(a)(iv) above. 

  
 82 

	(c)	 Paragraphs (a) and (b) above will override any appropriation made by an Obligor. 

 

	28.7	 No set-off by Obligors 

All payments to be made by an Obligor under the Finance Documents shall be calculated and be made without (and free and clear of any deduction
for) set-off or counterclaim. 
  

	28.8	 Business Days 

 

	(a)	 Any payment under the Finance Documents which is due to be made on a day that is not a Business Day shall be
made on the next Business Day in the same calendar month (if there is one) or the preceding Business Day (if there is not). 

  

	(b)	 During any extension of the due date for payment of any principal or Unpaid Sum under this Agreement interest
is payable on the principal or Unpaid Sum at the rate payable on the original due date. 

  

	28.9	 Currency of account 

 

	(a)	 Subject to paragraphs (b) to (e) below, U.S. dollars is the currency of account and payment for any sum
due from an Obligor under any Finance Document. 

  

	(b)	 A repayment of a Loan or Unpaid Sum or a part of a Loan or Unpaid Sum shall be made in the currency in which
that Loan or Unpaid Sum is denominated pursuant to this Agreement on its due date. 

  

	(c)	 Each payment of interest shall be made in the currency in which the sum in respect of which the interest is
payable was denominated pursuant to this Agreement when that interest accrued. 

  

	(d)	 Each payment in respect of costs, expenses or Taxes shall be made in the currency in which the costs, expenses
or Taxes are incurred. 

  

	(e)	 Any amount expressed to be payable in a currency other than U.S. dollars shall be paid in that other currency.

  

	28.10	 Change of currency 

 

	(a)	 Unless otherwise prohibited by law, if more than one currency or currency unit are at the same time recognised
by the central bank of any country as the lawful currency of that country, then: 

  

	 	(i)	 any reference in the Finance Documents to, and any obligations arising under the Finance Documents in, the
currency of that country shall be translated into, or paid in, the currency or currency unit of that country designated by the Agent (after consultation with the Company); and 

 

	 	(ii)	 any translation from one currency or currency unit to another shall be at the official rate of exchange
recognised by the central bank for the conversion of that currency or currency unit into the other, rounded up or down by the Agent (acting reasonably). 

  

	(b)	 If a change in any currency of a country occurs, this Agreement will, to the extent the Agent (acting
reasonably and after consultation with the Company) specifies to be necessary, be amended to comply with any generally accepted conventions and market practice in the Relevant Interbank Market and otherwise to reflect the change in currency.

  
 83 

	28.11	 Disruption to payment systems etc. 

If either the Agent determines (in its discretion) that a Disruption Event has occurred or the Agent is notified by the Company that a
Disruption Event has occurred: 
  

	 	(a)	 the Agent may, and shall if requested to do so by the Company, consult with the Company with a view to agreeing
with the Company such changes to the operation or administration of the Facility as the Agent may deem necessary in the circumstances; 

  

	 	(b)	 the Agent shall not be obliged to consult with the Company in relation to any changes mentioned in paragraph
(a) above if, in its opinion, it is not practicable to do so in the circumstances and, in any event, shall have no obligation to agree to such changes; 

  

	 	(c)	 the Agent may consult with the Finance Parties in relation to any changes mentioned in paragraph (a) above
but shall not be obliged to do so if, in its opinion, it is not practicable to do so in the circumstances; 

  

	 	(d)	 any such changes agreed upon by the Agent and the Company shall (whether or not it is finally determined that a
Disruption Event has occurred) be binding upon the Parties as an amendment to (or, as the case may be, waiver of) the terms of the Finance Documents, notwithstanding the provisions of Clause 34 (Amendments and Waivers); 

 

	 	(e)	 the Agent shall not be liable for any damages, costs or losses to any person, any diminution in value or any
liability whatsoever (including, without limitation, for negligence, gross negligence or any other category of liability whatsoever but not including any claim based on the fraud of the Agent) arising as a result of its taking, or failing to take,
any actions pursuant to or in connection with this Clause 28.11; and 

  

	 	(f)	 the Agent shall notify the Finance Parties of all changes agreed pursuant to paragraph (d) above.

  

	28.12	 Payments to the Security Agent 

Notwithstanding any other provision of any Finance Document, at any time after any Security created by or pursuant to any Security Document
becomes enforceable, the Security Agent may require: 
  

	 	(a)	 any Obligor to pay all sums due under any Finance Document; or 

 

	 	(b)	 the Agent to pay all sums received or recovered from an Obligor under any Finance Document,

 in each case as the Security Agent may direct for application in accordance with the terms of the Security Documents.

  

	29.	 SET-OFF 

A Finance Party may set off any matured obligation due from an Obligor under the Finance Documents (to the extent beneficially owned by that
Finance Party) against any matured obligation owed by that Finance Party to that Obligor, regardless of the place of payment, booking branch or currency of either obligation. If the obligations are in different currencies, the Finance Party may
convert either obligation at a market rate of exchange in its usual course of business for the purpose of the set-off. 

  
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	30.	 NOTICES 

  

	30.1	 Communications in writing 

Any communication to be made under or in connection with the Finance Documents shall be made in writing and, unless otherwise stated, may be
made by fax or letter. 
  

	30.2	 Addresses 

The address and fax number (and the department or officer, if any, for whose attention the communication is to be made) of each Party for any
communication or document to be made or delivered under or in connection with the Finance Documents is: 
  

	 	(a)	 in the case of the Company, that identified with its name below; 

 

	 	(b)	 in the case of each Lender or any other Original Obligor, that notified in writing to the Agent on or prior to
the date on which it becomes a Party; and 

  

	 	(c)	 in the case of the Agent and the Security Agent, that identified with its name below, 

or any substitute address, fax number or department or officer as the Party may notify to the Agent (or the Agent may notify to the other
Parties, if a change is made by the Agent) by not less than five Business Days’ notice. 
  

	30.3	 Delivery 

  

	(a)	 Any communication or document made or delivered by one person to another under or in connection with the
Finance Documents will only be effective: 

  

	 	(i)	 if by way of fax, when received in legible form; or 

 

	 	(ii)	 if by way of letter, when it has been left at the relevant address or five Business Days after being deposited
in the post postage prepaid in an envelope addressed to it at that address, 

 and, if a particular department or officer
is specified as part of its address details provided under Clause 30.2 (Addresses), if addressed to that department or officer. 
  

	(b)	 Any communication or document to be made or delivered to the Agent or the Security Agent will be effective only
when actually received by it and then only if it is expressly marked for the attention of the department or officer identified with its signature below (or any substitute department or officer as it shall specify for this purpose).

  

	(c)	 All notices from or to an Obligor shall be sent through the Agent. 

 

	(d)	 Any communication or document made or delivered to the Company in accordance with this Clause 30.3 will be
deemed to have been made or delivered to each of the Obligors. 

  

	(e)	 Any communication or document which becomes effective, in accordance with paragraphs (a) to (d) above,
after 5.00pm in the place of receipt shall be deemed to only become effective on the following day. 

  

	30.4	 Notification of address and fax number 

Promptly upon changing its address or fax number, the Agent and the Security Agent shall notify the other Parties. 

  
 85 

	30.5	 Communication when Agent is Impaired Agent 

If the Agent is an Impaired Agent the Parties may, instead of communicating with each other through the Agent, communicate with each other
directly and (while the Agent is an Impaired Agent) all the provisions of the Finance Documents which require communications to be made or notices to be given to or by the Agent shall be varied so that communications may be made and notices given to
or by the relevant Parties directly. This provision shall not operate after a replacement Agent has been appointed. 
  

	30.6	 Electronic communication 

 

	(a)	 Any communication to be made between any two Parties under or in connection with the Finance Documents may be
made by electronic mail or other electronic means (including, without limitation, by way of a posting to a secure website)_ and if those two Parties: 

  

	 	(i)	 notify each other in writing of their electronic mail address and/or any other information required to enable
the transmission of information by that means; and 

  

	 	(ii)	 notify each other of any change to their address or any other such information supplied by them by not less
than five Business Days’ notice. 

  

	(b)	 Any such electronic communication as specified in paragraph (a) above to be made between an Obligor and a
Finance Party may only be made in that way to the extent that those two Parties agree that, unless and until notified to the contrary, this is to be an accepted form of communication. 

 

	(c)	 Any such electronic communication as specified in paragraph (a) above to be made between any two Parties
will be effective only when actually received (or made available) in readable form and in the case of any electronic communication made by a Party to the Agent only if it is addressed in such a manner as the Agent shall specify for this purpose.

  

	(d)	 Any electronic communication which becomes effective, in accordance with paragraph (c) above, after 5.00pm
in the place in which the Party to whom the relevant communication is sent or made available has its address for the purpose of this Agreement shall be deemed only to become effective on the following day. 

 

	(e)	 Any reference in a Finance Document to a communication being sent or received shall be construed to include
that communication being made available in accordance with this Clause 30.6. 

  

	30.7	 English language 

 

	(a)	 Any notice given under or in connection with any Finance Document must be in English. 

 

	(b)	 All other documents provided under or in connection with any Finance Document must be: 

 

	 	(i)	 in English; or 

  

	 	(ii)	 if not in English, and if so required by the Agent, accompanied by a certified English translation and, in this
case, the English translation will prevail unless the document is a constitutional, statutory or other official document. 

  
 86 

	31.	 CALCULATIONS AND CERTIFICATES 

 

	31.1	 Accounts 

In any litigation or arbitration proceedings arising out of or in connection with a Finance Document, the entries made in the accounts
maintained by a Finance Party are prima facie evidence of the matters to which they relate. 
  

	31.2	 Certificates and determinations 

Any certification or determination by a Finance Party of a rate or amount under any Finance Document is, in the absence of manifest error,
conclusive evidence of the matters to which it relates. 
  

	31.3	 Day count convention 

Any interest, commission or fee accruing under a Finance Document will accrue from day to day and is calculated on the basis of the actual
number of days elapsed and a year of 360 days or, in any case where the practice in the Relevant Interbank Market differs, in accordance with that market practice. 
  

	32.	 PARTIAL INVALIDITY 

If, at any time, any provision of the Finance Documents is or becomes illegal, invalid or unenforceable in any respect under any law of any
jurisdiction, neither the legality, validity or enforceability of the remaining provisions nor the legality, validity or enforceability of such provision under the law of any other jurisdiction will in any way be affected or impaired. 

 

	33.	 REMEDIES AND WAIVERS 

No failure to exercise, nor any delay in exercising, on the part of any Finance Party, any right or remedy under the Finance Documents, shall
operate as a waiver of any such right or remedy or constitute an election to affirm any of the Finance Documents. No waiver or election to affirm any of the Finance Documents on the part of any Finance Party shall be effective unless in writing. No
single or partial exercise of any right or remedy shall prevent any further or other exercise or the exercise of any other right or remedy. The rights and remedies provided in this Agreement are cumulative and not exclusive of any rights or remedies
provided by law. 
  

	34.	 AMENDMENTS AND WAIVERS 

 

	34.1	 Required consents 

 

	(a)	 Subject to Clause 34.2 (Exceptions), any term of the Finance Documents may be amended or waived only with the
consent of the Majority Lenders and the Obligors and any such amendment or waiver will be binding on all Parties. 

  

	(b)	 The Agent may effect, on behalf of any Finance Party, any amendment or waiver permitted by this Clause 34.

  

	34.2	 Exceptions 

  

	(a)	 An amendment or waiver of any term of any Finance Document that has the effect of changing, or which relates
to: 

  

	 	(i)	 the definition of Majority Lenders in Clause 1.1 (Definitions); 

 

	 	(ii)	 an extension to the date of payment of any amount under the Finance Documents; 

  
 87 

	 	(iii)	 a reduction in the Margin or a reduction in the amount of any payment of principal, interest, fee or commission
payable; 

  

	 	(iv)	 an increase in any Commitment or the Total Commitments (other than any such increase pursuant to and in
accordance with Clause 2.2 (Increase), an extension of any Availability Period or any requirement that a cancellation of Commitments reduces the Commitments of the Lenders rateably under the Facility; 

 

	 	(v)	 a change to the Borrowers or Guarantors other than in accordance with Clause 24 (Changes to the Obligors);

  

	 	(vi)	 any provision which expressly requires the consent of all the Lenders; 

 

	 	(vii)	 Clause 2.3 (Finance Parties’ rights and obligations), Clause 7.2 (Change of control), Clause 7.8
(Application of prepayments), Clause 23 (Changes to the Lenders), Clause 27 (Sharing among the Finance Parties), this Clause 34, Clause 38 (Governing Law) or Clause 39.1 (Jurisdiction); 

 

	 	(viii)	 the nature or scope of, or the release of, any Security created by the Security Agreements, unless such release
is related to the sale or disposal of an asset which is the subject of such Security, where such sale or disposal is expressly permitted under this Agreement; or 

 

	 	(ix)	 the nature or scope of the guarantee and indemnity granted under Clause 17 (Guarantee and indemnity),

 shall not be made without the prior consent of all the Lenders. 

 

	(b)	 An amendment or waiver which relates to the rights or obligations of the Agent, the Security Agent, the
Arranger or a Reference Bank (each in their capacity as such) may not be effected without the consent of the Agent, the Security Agent, the Arranger or that Reference Bank, as the case may be. 

 

	34.3	 Disenfranchisement of Defaulting Lenders 

 

	(a)	 For so long as a Defaulting Lender has any Available Commitment, in ascertaining: 

 

	 	(i)	 the Majority Lenders; or 

 

	 	(ii)	 whether: 

  

	 	(A)	 any given percentage (including, for the avoidance of doubt, unanimity) of the Total Commitments under the
Facility; or 

  

	 	(B)	 the agreement of any specified group of Lenders, 

has been obtained to approve any request for a consent, waiver, amendment or other vote under the Finance Documents, that Defaulting
Lender’s Commitments under the Facility will be reduced by the amount of its Available Commitments under the Facility and, to the extent that that reduction results in the total of that Defaulting Lender’s Commitments being zero, that
Defaulting Lender shall be deemed not to be a Lender for the purposes of paragraphs (i) and (ii) above. 
  

	(b)	 For the purposes of this Clause 34.3, the Agent may assume that the following Lenders are Defaulting Lenders:

  

	 	(i)	 any Lender which has notified the Agent that it has become a Defaulting Lender; 

  
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	 	(ii)	 any Lender in relation to which it is aware that any of the events or circumstances referred to in paragraph
(a), (b) or (c) of the definition of Defaulting Lender has occurred, 

 unless it has received notice to the contrary
from the Lender concerned (together with any supporting evidence reasonably requested by the Agent) or the Agent is otherwise aware that the Lender has ceased to be a Defaulting Lender. 

 

	34.4	 Excluded Commitments 

If any Defaulting Lender fails to respond to a request for a consent, waiver or amendment of, or in relation to, any term of any Finance
Document or any other vote of Lenders under the terms of this Agreement within five Business Days (unless the Company and the Agent agree to a longer time period in relation to any request) of that request being made: 

 

	 	(a)	 its Commitment(s) shall not be included for the purpose of calculating the Total Commitments under the Facility
when ascertaining whether any relevant percentage (including, for the avoidance of doubt, unanimity) of Total Commitments has been obtained to approve that request: and 

 

	 	(b)	 its status as a Lender shall be disregarded for the purpose of ascertaining whether the agreement of any
specified group of Lenders has been obtained to approve that request. 

  

	34.5	 Replacement of Screen Rate 

 

	(a)	 Subject to paragraph (b) of Clause 34.2 (Exceptions), if the Screen Rate is not available for U.S.
dollars, any amendment or waiver which relates to providing for another benchmark rate to apply in relation to U.S. dollars in place of that Screen Rate (or which relates to aligning any provision of a Finance Document to the use of that other
benchmark rate) may be made with the consent of the Majority Lenders and the Obligors. 

  

	(b)	 If any Lender fails to respond to a request for an amendment or waiver described in paragraph (a) above
within ten (10) Business Days (unless the Company and the Agent agree to a longer time period in relation to any request) of that request being made: 

  

	 	(i)	 its Commitment shall not be included for the purpose of calculating the Total Commitments when ascertaining
whether any relevant percentage (including, for the avoidance of doubt, unanimity) of Total Commitments has been obtained to approve that request; and 

  

	 	(ii)	 its status as a Lender shall be disregarded for the purpose of ascertaining whether the agreement of any
specified group of Lenders has been obtained to approve that request. 

  

	34.6	 Replacement of a Defaulting Lender 

 

	(a)	 The Company may, at any time a Lender has become and continues to be a Defaulting Lender, by giving five
Business Days’ prior written notice to the Agent and such Lender: 

  

	 	(i)	 replace such Lender by requiring such Lender to (and, to the extent permitted by law, such Lender shall)
transfer pursuant to Clause 23 (Changes to the Lenders) all (and not part only) of its rights and obligations under this Agreement; 

  

	 	(ii)	 require such Lender to (and, to the extent permitted by law, such Lender shall) transfer pursuant to Clause 23
(Changes to the Lenders) all (and not part only) of the undrawn Commitment of the Lender; or 

  
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	 	(iii)	 require such Lender to (and, to the extent permitted by law, such Lender shall) transfer pursuant to Clause 23
(Changes to the Lenders) all (and not part only) of its rights and obligations in respect of the Facility, 

 to a Lender
or other bank, financial institution, trust, fund or other entity (a Replacement Lender) selected by the Company and which confirms its willingness to assume and does assume all the obligations or all the relevant obligations of the
transferring Lender in accordance with Clause 23 (Changes to the Lenders) for a purchase price in cash payable at the time of transfer which is either: 
  

	 	(A)	 in an amount equal to the outstanding principal amount of such Lender’s participation in the outstanding
Loans and all accrued interest (to the extent that the Agent has not given a notification under Clause 23.10 (Pro rata interest settlement)) and other amounts payable in relation thereto under the Finance Documents; or 

 

	 	(B)	 in an amount agreed between that Defaulting Lender, the Replacement Lender and the Company and which does not
exceed the amount described in paragraph (A) above. 

  

	(b)	 Any transfer of rights and obligations of a Defaulting Lender pursuant to this Clause 34 shall be subject to
the following conditions: 

  

	 	(i)	 the Company shall have no right to replace the Agent or Security Agent; 

 

	 	(ii)	 neither the Agent nor the Defaulting Lender shall have any obligation to the Company to find a Replacement
Lender; 

  

	 	(iii)	 the transfer must take place no later than 15 Business Days after the notice referred to in paragraph
(a) above; 

  

	 	(iv)	 in no event shall the Defaulting Lender be required to pay or surrender to the Replacement Lender any of the
fees received by the Defaulting Lender pursuant to the Finance Documents; and 

  

	 	(v)	 the Defaulting Lender shall only be obliged to transfer its rights and obligations pursuant to paragraph
(a) above once it is satisfied that it has complied with all necessary ‘‘know your customer’’ (or other similar) checks under all applicable laws and regulations in relation to that transfer to the Replacement Lender.

  

	(c)	 The Defaulting Lender shall perform the checks described in paragraph (b)(v) above as soon as reasonably
practicable following delivery of a notice referred to in paragraph (a) above and shall notify the Agent and the Company when it is satisfied that it has complied with those checks. 

 

	35.	 CONFIDENTIAL INFORMATION 

 

	35.1	 Confidentiality 

Each Finance Party agrees to keep all Confidential Information confidential and not to disclose it to anyone, save to the extent permitted by
Clause 35.2 (Disclosure of Confidential Information) and Clause 35.3 (Disclosure to numbering service providers), and to ensure that all Confidential Information is protected with security measures and a degree of care that would apply to its own
confidential information. 
  

	35.2	 Disclosure of Confidential Information 

Any Finance Party may disclose: 

  
 90 

	 	(a)	 to any of its Affiliates and Related Funds and any of its, or their, officers, directors, employees,
professional advisers, auditors, partners and Representatives, such Confidential Information as that Finance Party shall consider appropriate if any person to whom the Confidential Information is to be given pursuant to this paragraph (a) is
informed in writing of its confidential nature and that some or all of such Confidential Information may be price-sensitive information, except that there shall be no such requirement to so inform if the recipient is subject to professional
obligations to maintain the confidentiality of the information or is otherwise bound by requirements of confidentiality in relation to the Confidential Information; 

 

	 	(b)	 to any person: 

  

	 	(i)	 to (or through) whom it assigns or transfers (or may potentially assign or transfer) all or any of its rights
and/or obligations under one or more Finance Documents or which succeeds (or which may potentially succeed) it as Agent or Security Agent and, in each case, to any of that person’s Affiliates, Related Funds, Representatives and professional
advisers; 

  

	 	(ii)	 with (or through) whom it enters into (or may potentially enter into), whether directly or indirectly, any sub-participation in relation to, or any other transaction under which payments are to be made or may be made by reference to, one or more Finance Documents and/or one or more Obligors and to any of that
person’s Affiliates, Related Funds, Representatives and professional advisers; 

  

	 	(iii)	 appointed by any Finance Party or by a person to whom paragraph (i) or (ii) above applies to receive
communications, notices, information or documents delivered pursuant to the Finance Documents on its behalf (including, without limitation, any person appointed under paragraph (b) of Clause 25.15 (Relationship with the Lenders));

  

	 	(iv)	 who invests in or otherwise finances (or may potentially invest in or otherwise finance), directly or
indirectly, any transaction referred to in paragraph (i) or (ii) above; 

  

	 	(v)	 to whom information is required or requested to be disclosed by any court of competent jurisdiction or any
governmental, banking, taxation or other regulatory authority or similar body, the rules of any relevant stock exchange or pursuant to any applicable law or regulation; 

 

	 	(vi)	 to whom information is required to be disclosed in connection with, and for the purposes of, any litigation,
arbitration, administrative or other investigations, proceedings or disputes; 

  

	 	(vii)	 to whom or for whose benefit that Finance Party charges, assigns or otherwise creates Security (or may do so)
pursuant to Clause 23.9 (Security over Lenders’ rights); 

  

	 	(viii)	 who is a Party; or 

  

	 	(ix)	 with the consent of the Company; 

in each case, such Confidential Information as that Finance Party shall consider appropriate if: 

  
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	 	(A)	 in relation to paragraphs (i), (ii) and (iii) above, the person to whom the Confidential Information is to
be given has entered into a Confidentiality Undertaking except that there shall be no requirement for a Confidentiality Undertaking if the recipient is a professional adviser and is subject to professional obligations to maintain the confidentiality
of the Confidential Information; 

  

	 	(B)	 in relation to paragraph (iv) above, the person to whom the Confidential Information is to be given has
entered into a Confidentiality Undertaking or is otherwise bound by requirements of confidentiality in relation to the Confidential Information they receive and is informed that some or all of such Confidential Information may be price-sensitive
information; 

  

	 	(C)	 in relation to paragraphs (v), (vi) and (vii) above, the person to whom the Confidential Information is to
be given is informed of its confidential nature and that some or all of such Confidential Information may be price-sensitive information except that there shall be no requirement to so inform if, in the opinion of that Finance Party, it is not
practicable so to do in the circumstances; 

  

	 	(c)	 to any person appointed by that Finance Party or by a person to whom paragraph (b)(i) or (b)(ii) above applies
to provide administration or settlement services in respect of one or more of the Finance Documents including, without limitation, in relation to the trading of participations in respect of the Finance Documents, such Confidential Information as may
be required to be disclosed to enable such service provider to provide any of the services referred to in this paragraph (c) if the service provider to whom the Confidential Information is to be given has entered into a confidentiality
agreement substantially in the form of the LMA Master Confidentiality Undertaking for Use With Administration/Settlement Service Providers or such other form of confidentiality undertaking agreed between the Company and the relevant Finance Party;

  

	 	(d)	 to any rating agency (including its professional advisers), such Confidential Information as may be required to
be disclosed to enable such rating agency to carry out its normal rating activities in relation to the Finance Documents and/or the Obligors if the rating agency to whom the Confidential Information is to be given is informed of its confidential
nature and that some or all of such Confidential Information may be price-sensitive information. 

  

	35.3	 Disclosure to numbering service providers 

 

	(a)	 Any Finance Party may disclose to any national or international numbering service provider appointed by that
Finance Party to provide identification numbering services in respect of this Agreement, the Facility and/or one or more Obligors the following information: 

  

	 	(i)	 names of Obligors; 

  

	 	(ii)	 country of domicile of Obligors; 

 

	 	(iii)	 place of incorporation of Obligors; 

 

	 	(iv)	 date of this Agreement; 

 

	 	(v)	 Clause 38 (Governing Law); 

 

	 	(vi)	 the names of the Agent, the Security Agent and the Arranger; 

 

	 	(vii)	 date of each amendment and restatement of this Agreement; 

  
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	 	(viii)	 amounts of, and names of, the Facility; 

 

	 	(ix)	 amount of Total Commitments; 

 

	 	(x)	 currency of the Facility; 

 

	 	(xi)	 type of Facility; 

  

	 	(xii)	 ranking of the Facility; 

 

	 	(xiii)	 Termination Date for the Facility; 

 

	 	(xiv)	 changes to any of the information previously supplied pursuant to paragraphs (i) to (xiii) above; and

  

	 	(xv)	 such other information agreed between such Finance Party and the Company, 

to enable such numbering service provider to provide its usual syndicated loan numbering identification services. 

 

	(b)	 The Parties acknowledge and agree that each identification number assigned to this Agreement, the Facilities
and/or one or more Obligors by a numbering service provider, and the information associated with each such number, may be disclosed to users of its services in accordance with the standard terms and conditions of that numbering service provider.

  

	(c)	 The Agent shall notify the Company and the other Finance Parties of: 

 

	 	(i)	 the name of any numbering service provider appointed by the Agent in respect of this Agreement, the Facility
and/or one or more Obligors; and 

  

	 	(ii)	 the number or, as the case may be, numbers assigned to this Agreement, the Facility and/or one or more Obligors
by such numbering service provider. 

  

	35.4	 Entire agreement 

This Clause 35 constitutes the entire agreement between the Parties in relation to the obligations of the Finance Parties under the Finance
Documents regarding Confidential Information and supersedes any previous agreement, whether express or implied, regarding Confidential Information. 
  

	35.5	 Inside information 

Each of the Finance Parties acknowledges that some or all of the Confidential Information is or may be price-sensitive information and that the
use of such information may be regulated or prohibited by applicable legislation including securities law relating to insider dealing and market abuse and each of the Finance Parties undertakes not to use any Confidential Information for any
unlawful purpose. 
  

	35.6	 Notification of disclosure 

Each of the Finance Parties agrees (to the extent permitted by law and regulation) to inform the Company: 

 

	 	(a)	 of the circumstances of any disclosure of Confidential Information made pursuant to paragraph (b)(v) of Clause
35.2 (Disclosure of Confidential Information) except where such disclosure is made to any of the persons referred to in that paragraph during the ordinary course of its supervisory or regulatory function; and 

  
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	 	(b)	 upon becoming aware that Confidential Information has been disclosed in breach of this Clause 35.

  

	35.7	 Continuing obligations 

The obligations in this Clause 35 are continuing and, in particular, shall survive and remain binding on each Finance Party for a period of 12
months from the earlier of: 
  

	 	(a)	 the date on which all amounts payable by the Obligors under or in connection with this Agreement have been paid
in full and all Commitments have been cancelled or otherwise cease to be available; and 

  

	 	(b)	 the date on which such Finance Party otherwise ceases to be a Finance Party. 

 

	36.	 CONFIDENTIALITY OF FUNDING RATES AND REFERENCE BANK QUOTATIONS 

 

	36.1	 Confidentiality and disclosure 

 

	(a)	 The Agent and each Obligor agree to keep each Funding Rate (and, in the case of the Agent, each Reference Bank
Quotation) confidential and not to disclose it to anyone, save to the extent permitted by paragraphs (b), (c) and (d) below. 

  

	(b)	 The Agent may disclose: 

 

	 	(i)	 any Funding Rate (but not, for the avoidance of doubt, any Reference Bank Quotation) to the relevant Borrower
pursuant to Clause 8.4 (Notification of rates of interest); and 

  

	 	(ii)	 any Funding Rate or any Reference Bank Quotation to any person appointed by it to provide administration
services in respect of one or more of the Finance Documents to the extent necessary to enable such service provider to provide those services if the service provider to whom that information is to be given has entered into a confidentiality
agreement substantially in the form of the LMA Master Confidentiality Undertaking for Use With Administration/Settlement Service Providers or such other form of confidentiality undertaking agreed between the Agent and the relevant Lender or
Reference Bank, as the case may be. 

  

	(c)	 The Agent may disclose any Funding Rate or any Reference Bank Quotation, and each Obligor may disclose any
Funding Rate, to: 

  

	 	(i)	 any of its Affiliates and any of its or their officers, directors, employees, professional advisers, auditors,
partners and Representatives if any person to whom that Funding Rate or Reference Bank Quotation is to be given pursuant to this paragraph (i) is informed in writing of its confidential nature and that it may be price-sensitive information
except that there shall be no such requirement to so inform if the recipient is subject to professional obligations to maintain the confidentiality of that Funding Rate or Reference Bank Quotation or is otherwise bound by requirements of
confidentiality in relation to it; 

  

	 	(ii)	 any person to whom information is required or requested to be disclosed by any court of competent jurisdiction
or any governmental, banking, taxation or other regulatory authority or similar body, the rules of any relevant stock exchange or pursuant to any applicable law or regulation if the person to whom that Funding Rate or Reference Bank Quotation is to
be given is informed in writing of its confidential nature and that it may be price-sensitive information except that there shall be no requirement to so inform if, in the opinion of the Agent or the relevant Obligor, as the case may be, it is not
practicable to do so in the circumstances; 

  
 94 

	 	(iii)	 any person to whom information is required to be disclosed in connection with, and for the purposes of, any
litigation, arbitration, administrative or other investigations, proceedings or disputes if the person to whom that Funding Rate or Reference Bank Quotation is to be given is informed in writing of its confidential nature and that it may be
price-sensitive information except that there shall be no requirement to so inform if, in the opinion of the Agent or the relevant Obligor, as the case may be, it is not practicable to do so in the circumstances; and 

 

	 	(iv)	 any person with the consent of the relevant Lender or Reference Bank, as the case may be.

  

	(d)	 The Agent’s obligations in this Clause 36 relating to Reference Bank Quotations are without prejudice to
its obligations to make notifications under Clause 8.4 (Notification of rates of interest) provided that (other than pursuant to paragraph (b)(i) above) the Agent shall not include the details of any individual Reference Bank Quotation as part of
any such notification. 

  

	36.2	 Related obligations 

 

	(a)	 The Agent and each Obligor acknowledge that each Funding Rate (and, in the case of the Agent, each Reference
Bank Quotation) is or may be price-sensitive information and that its use may be regulated or prohibited by applicable legislation including securities law relating to insider dealing and market abuse and the Agent and each Obligor undertake not to
use any Funding Rate or, in the case of the Agent, any Reference Bank Quotation for any unlawful purpose. 

  

	(b)	 The Agent and each Obligor agree (to the extent permitted by law and regulation) to inform the relevant Lender
or Reference Bank, as the case may be: 

  

	 	(i)	 of the circumstances of any disclosure made pursuant to paragraph (c)(ii) of Clause 36.1 (Confidentiality and
disclosure) except where such disclosure is made to any of the persons referred to in that paragraph during the ordinary course of its supervisory or regulatory function; and 

 

	 	(ii)	 upon becoming aware that any information has been disclosed in breach of this this Clause 36.

  

	36.3	 No Event of Default 

No Event of Default will occur under Clause 22.3 (Other obligations) by reason only of an Obligor’s failure to comply with this Clause 36.

  

	37.	 COUNTERPARTS 

Each Finance Document may be executed in any number of counterparts and this has the same effect as if the signatures on the counterparts were
on a single copy of the Finance Document. 
  

	38.	 GOVERNING LAW 

This Agreement and any non-contractual obligations arising out of or in connection with it are governed
by English law. 

  
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	39.	 ENFORCEMENT 

  

	39.1	 Jurisdiction 

  

	(a)	 The courts of England have exclusive jurisdiction to settle any dispute arising out of or in connection with
this Agreement (including a dispute relating to the existence, validity or termination of this Agreement or any non-contractual obligation arising out of or in connection with this Agreement) (a
Dispute). 

  

	(b)	 The Parties agree that the courts of England are the most appropriate and convenient courts to settle Disputes
and accordingly no Party will argue to the contrary. 

  

	(c)	 Notwithstanding paragraph (a) above, no Finance Party shall be prevented from taking proceedings relating
to a Dispute in any other courts with jurisdiction. To the extent allowed by law, the Finance Parties may take concurrent proceedings in any number of jurisdictions. 

 

	39.2	 Service of process 

Without prejudice to any other mode of service allowed under any relevant law, each Obligor (other than an Obligor incorporated in England and
Wales): 
  

	 	(a)	 irrevocably appoints Hackwood Secretaries Limited as its agent for service of process in relation to any
proceedings before the English courts in connection with any Finance Document and agrees that failure by a process agent to notify the relevant Obligor of the process will not invalidate the proceedings concerned; and 

 

	 	(b)	 agrees that the failure by a process agent to notify the relevant Obligor of the process will not invalidate
the proceedings concerned. 

 THIS AGREEMENT has been entered into on the date stated at the beginning of this Agreement. 

  
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 SCHEDULE 1 

THE ORIGINAL LENDERS 
  

					
	Name of Original Lender	  	 Commitment

(U.S.$)
	 
	 Banco de Crédito del Perú
	  	 	75,000,000	 
	 Scotiabank Perú S.A.A.
	  	 	75,000,000	 

  
 97 

 SCHEDULE 2 

CONDITIONS PRECEDENT 

PART 1 
 CONDITIONS
PRECEDENT TO INITIAL UTILISATION 
  

	1.	 Original Obligors 

 

	(a)	 A copy of the constitutional documents of each Original Obligor. 

 

	(b)	 A copy certified by a notary public of a resolution of the board of directors of each Original Obligor:

  

	 	(i)	 approving the terms of, and the transactions contemplated by, the Finance Documents to which it is a party and
resolving that it execute the Finance Documents to which it is a party; 

  

	 	(ii)	 authorising a specified person or persons to execute the Finance Documents to which it is a party on its
behalf; and 

  

	 	(iii)	 authorising a specified person or persons, on its behalf, to sign and/or despatch all documents and notices
(including, if relevant, any Utilisation Request) to be signed and/or despatched by it under or in connection with the Finance Documents to which it is a party. 

 

	(c)	 A specimen of the signature of each person authorised by the resolution referred to in paragraph
(b) above. 

  

	(d)	 A certificate of the Company (signed by a director) confirming that borrowing or guaranteeing, as appropriate,
the Total Commitments would not cause any borrowing, guaranteeing or similar limit binding on any Original Obligor to be exceeded. 

  

	(e)	 A certificate of an authorised signatory of the relevant Original Obligor certifying that each copy document
relating to it specified in this Part 1 of Schedule 2 is correct, complete and in full force and effect as at a date no earlier than the date of this Agreement. 

 

	2.	 Offshore Security 

Confirmation from the Offshore Security Agent that it has received each of the following documents in form and substance satisfactory to it:

  

	 	(a)	 a copy of the Offshore Security Agreement; and 

 

	 	(b)	 notices of charge or assignment of the Offshore Revenue Accounts and Assigned Agreements, all as required by
the Offshore Security Agreement, 

 in each case, duly executed by the relevant Parties to such documents, but left
undated, with authority for the Offshore Security Agent (or Allen & Overy LLP on its behalf) to date as soon as the Effective Date (as defined in the Deed of Release) has occurred. 

In this paragraph 2, the terms Offshore Revenue Account and Assigned Agreement, have the meanings given to them in the Offshore
Security Agreement. 

  
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	3.	 Onshore Security 

Confirmation from the Onshore Security Agent that it has received each of the following documents in form and substance satisfactory to it:

  

	 	(a)	 a copy (testimonio) of the Onshore Security Agreements, duly executed by the Parties to it and evidence
that the Onshore Security Agreements have been filed with the Registro Mobiliario de Contratos; 

  

	 	(b)	 notices of (i) assignment of the Original Borrower’s credit rights; and (ii) granting of
garantía mobiliaria, all as required by the Onshore Security Agreements; and 

  

	 	(c)	 the minutes (minutas) of release of all collateral established under the Security Agreements (as defined
in the Existing Facility Agreement) that are governed by Peruvian law duly executed by the Onshore Security Agent (as defined in the Existing Facility Agreement). In each minute the Onshore Security Agent (as defined in the Existing Facility
Agreement) shall irrevocably cancel the relevant collateral subject only to the condition that all amounts outstanding under the the Existing Facility have been fully repaid, as well as the irrevocable obligation of the Onshore Security Agent (as
defined in the Existing Facility Agreement) to execute the relevant Peruvian public deeds of release upon confirmation that all amounts outstanding under the Existing Facility have been fully repaid. 

 

	4.	 Legal opinions 

 

	(a)	 A legal opinion of Allen & Overy LLP, legal advisers to the Arranger and the Agent in England,
substantially in the form distributed to the Original Lenders prior to signing this Agreement. 

  

	(b)	 A legal opinion of Estudio Echecopar, member firm of Baker & McKenzie International legal advisers to
the Arranger and the Agent in Peru, substantially in the form distributed to the Original Lenders prior to signing this Agreement. 

  

	5.	 Other documents and evidence 

 

	(a)	 Legal due diligence of the Borrower to the satisfaction of the Original Lenders. 

 

	(b)	 Evidence that any process agent referred to in Clause 39.2 (Service of process), if not an Original Obligor,
has accepted its appointment. 

  

	(c)	 The Original Financial Statements of each Original Obligor. 

 

	(d)	 A copy of any other Authorisation or other document, opinion or assurance which the Agent (acting reasonably
and in good faith) considers to be necessary or desirable (and of which it has notified the Company two Business Days prior to the date of this Agreement accordingly) in connection with the entry into and performance of the transactions contemplated
by any Finance Document or for the validity and enforceability of any Finance Document. 

  

	(e)	 Evidence that the fees, costs and expenses then due from the Company pursuant to Clause 11 (Fees) and Clause 16
(Costs and Expenses) have been paid or will be paid by or on the first Utilisation Date. 

  

	(f)	 Evidence that any amounts outstanding under the Existing Facility have been or will be irrevocably cancelled
and prepaid in full on or before the Business Day immediately following the first Utilisation Date and all related English law Security has been or will be released on or before the Business Day immediately following the first Utilisation Date.

  
 99 

	(g)	 A copy of the latest Life of Mine Plan. 

 

	(h)	 The Deed of Release. 

 

	(i)	 Each Promissory Note to each Original Lender. 

 

	(j)	 The Factoring Deed of Release 

  
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 PART 2 

CONDITIONS PRECEDENT REQUIRED TO BE DELIVERED BY AN ADDITIONAL OBLIGOR 

 

	1.	 An Accession Letter, duly executed by the Additional Obligor and the Company. 

 

	2.	 A copy of the constitutional documents of the Additional Obligor. 

 

	3.	 A copy certified by a notary public of a resolution of the board of directors of the Additional Obligor:

  

	 	(a)	 approving the terms of, and the transactions contemplated by, the Accession Letter and the Finance Documents
and resolving that it execute the Accession Letter; 

  

	 	(b)	 authorising a specified person or persons to execute the Accession Letter on its behalf; and

  

	 	(c)	 authorising a specified person or persons, on its behalf, to sign and/or despatch all other documents and
notices (including, in relation to an Additional Borrower, any Utilisation Request) to be signed and/or despatched by it under or in connection with the Finance Documents. 

 

	4.	 A specimen of the signature of each person authorised by the resolution referred to in paragraph 3 above.

  

	5.	 If the Additional Guarantor is incorporated in England and Wales, or if so required by the Agent, a copy of a
resolution signed by all the holders of the issued shares of the Additional Guarantor approving the terms of, and the transactions contemplated by, the Finance Documents to which the Additional Guarantor is a party. 

 

	6.	 A certificate of the Additional Obligor (signed by a director) confirming that borrowing or guaranteeing, as
appropriate, the Total Commitments would not cause any borrowing, guaranteeing or similar limit binding on it to be exceeded. 

  

	7.	 A certificate of an authorised signatory of the Additional Obligor certifying that each copy document listed in
this Part 2 of Schedule 2 is correct, complete and in full force and effect as at a date no earlier than the date of the Accession Letter. 

  

	8.	 If available, the latest audited financial statements of the Additional Obligor. 

 

	9.	 A legal opinion of Allen & Overy LLP, legal advisers to the Arranger and the Agent in England.

  

	10.	 If the Additional Obligor is incorporated in a jurisdiction other than England and Wales, a legal opinion of
the legal advisers to the Arranger and the Agent in the jurisdiction in which the Additional Obligor is incorporated. 

  

	11.	 If the proposed Additional Obligor is incorporated in a jurisdiction other than England and Wales, evidence
that the process agent specified in Clause 39.2 (Service of process), if not an Obligor, has accepted its appointment in relation to the proposed Additional Obligor. 

 

	12.	 A copy of any other Authorisation or other document, opinion or assurance which the Agent (acting reasonably
and in good faith) considers to be necessary or desirable (and of which it has notified the Company accordingly) in connection with the entry into and performance of the transactions contemplated by any Finance Document or for the validity and
enforceability of any Finance Document. 

  
 101 

	13.	 A supplemental Security Agreement, duly executed by the Additional Obligor, together with such other documents
relating to the security granted pursuant to that supplemental Security Agreement, as the Security Agent may require. 

  
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 SCHEDULE 3 

UTILISATION REQUEST 

From:    [Name of relevant Borrower] 

To:        Banco de Crédito del Perú as Agent 

Dated: 
 Dear Sirs 

Gold Fields la Cima S.A. – U.S.$150,000,000 Revolving Senior Secured Credit Facility Agreement 

dated [                    ] (the
Agreement) 
  

	1.	 We refer to the Agreement. This is a Utilisation Request. Terms defined in the Agreement have the same meaning
in this Utilisation Request unless given a different meaning in this Utilisation Request. 

  

	2.	 We wish to borrow a Loan on the following terms: 

 

			
	Proposed Utilisation Date:	  	[                    ] (or, if that is not a Business Day, the next Business Day)
		
	Amount:	  	[                    ] or, if less, the Available Facility
		
	Interest Period:	  	[                    ]

  

	3.	 [The Loan (or part of it) is intended to be used for investments which are subject to developing, obtaining
and/or other approval of the appropriate Governmental Authority of an [Instrument of Environmental Management].] 

  

	4.	 We confirm that each condition specified in Clause 4.2 (Further conditions precedent) is satisfied on the date
of this Utilisation Request. 

  

	5.	 [This Loan is to be made in [whole]/[part] for the purpose of refinancing [identify maturing
Loan].]/[The proceeds of this Loan should be credited to [account].] 

  

	6.	 This Utilisation Request is irrevocable. 

Yours faithfully 
  

	
	  

	authorised signatory for
	[name of relevant Borrower]

  
 103 

 SCHEDULE 4 

FORM OF TRANSFER CERTIFICATE 
  

			
	To:	  	Banco de Crédito del Perú as Agent
		
	From:	  	[                    ] (the Existing Lender) and
[                    ] (the New Lender)
		
	Dated:	  	

 Gold Fields la Cima S.A. – U.S.$150,000,000 Revolving Senior Secured Credit Facility Agreement 

dated [                    ] (the
Agreement) 
  

	1.	 We refer to the Agreement. This is a Transfer Certificate. Terms defined in the Agreement have the same meaning
in this Transfer Certificate unless given a different meaning in this Transfer Certificate. 

  

	2.	 We refer to Clause 23.6 (Procedure for transfer): 

 

	 	(a)	 The Existing Lender and the New Lender agree to the Existing Lender transferring to the New Lender by novation,
and in accordance with Clause 23.6 (Procedure for transfer), all of the Existing Lender’s rights and obligations under the Agreement and the other Finance Documents which relate to that portion of the Existing Lender’s Commitment(s) and
participations in Loans under the Agreement as specified in the Schedule. 

  

	 	(b)	 The proposed Transfer Date is
[                    ]. 

  

	 	(c)	 The Facility Office and address, fax number and attention details for notices of the New Lender for the
purposes of Clause 30.2 (Addresses) are set out in the Schedule. 

  

	3.	 The New Lender expressly acknowledges the limitations on the Existing Lender’s obligations set out in
paragraph (c) of Clause 23.5 (Limitation of responsibility of Existing Lenders). 

  

	4.	 This Transfer Certificate may be executed in any number of counterparts and this has the same effect as if the
signatures on the counterparts were on a single copy of this Transfer Certificate. 

  

	5.	 This Transfer Certificate and any non-contractual obligations arising
out of or in connection with it are governed by English law. 

  

	6.	 This Transfer Certificate has been entered into on the date stated at the beginning of this Transfer
Certificate. 

  
 104 

 THE SCHEDULE 

COMMITMENT/RIGHTS AND OBLIGATIONS TO BE TRANSFERRED 

[insert relevant details] 

[Facility Office address, fax number and attention details for notices and account details for payments.] 

 

					
	[Existing Lender]	  	[New Lender]	  	
			
	By:	  	By:	  	

 This Transfer Certificate is accepted by the Agent and the Transfer Date is confirmed as
[                    ]. 
 Banco de
Crédito del Perú 
 By: 

  
 105 

 SCHEDULE 5 

FORM OF ASSIGNMENT AGREEMENT 
  

			
	To:	  	Banco de Crédito del Perú as Agent and Gold Fields la Cima S.A. as Company, for and on behalf of each Obligor
		
	From:	  	[                    ] (the Existing Lender) and
[                     ] (the New Lender)
		
	Dated:	  	

 Gold Fields la Cima S.A. – U.S.$150,000,000 Revolving Senior Secured Credit Facility Agreement 

dated [                    ] (the
Agreement) 
  

	1.	 We refer to the Agreement. This is an Assignment Agreement. Terms defined in the Agreement have the same
meaning in this Assignment Agreement unless given a different meaning in this Assignment Agreement. 

  

	2.	 We refer to Clause 23.7 (Procedure for assignment): 

 

	 	(a)	 The Existing Lender assigns absolutely to the New Lender all the rights of the Existing Lender under the
Agreement and the other Finance Documents which relate to that portion of the Existing Lender’s Commitment(s) and participations in Loans under the Agreement as specified in the Schedule. 

 

	 	(b)	 The Existing Lender is released from all the obligations of the Existing Lender which correspond to that
portion of the Existing Lender’s Commitment(s) and participations in Loans under the Agreement specified in the Schedule. 

  

	 	(c)	 The New Lender becomes a Party as a Lender and is bound by obligations equivalent to those from which the
Existing Lender is released under paragraph (b) above.1 

  

	3.	 The proposed Transfer Date is
[                    ]. 

  

	4.	 On the Transfer Date the New Lender becomes Party to the Finance Documents as a Lender. 

 

	5.	 The Facility Office and address, fax number and attention details for notices of the New Lender for the
purposes of Clause 30.2 (Addresses) are set out in the Schedule. 

  

	6.	 The New Lender expressly acknowledges the limitations on the Existing Lender’s obligations set out in
paragraph (c) of Clause 23.5 (Limitation of responsibility of Existing Lenders). 

  

	7.	 This Assignment Agreement acts as notice to the Agent (on behalf of each Finance Party) and, upon delivery in
accordance with Clause 23.8 (Copy of Transfer Certificate, Assignment Agreement or Increase Confirmation to Company), to the Company (on behalf of each Obligor) of the assignment referred to in this Assignment Agreement. 

 

	8.	 This Assignment Agreement may be executed in any number of counterparts and this has the same effect as if the
signatures on the counterparts were on a single copy of this Assignment Agreement. 

  

	1 	 If the Assignment Agreement is used in place of a Transfer Certificate in order to avoid a novation of
rights/obligations for reasons relevant to a civil jurisdiction, local law advice should be sought to check the suitability of the Assignment Agreement due to the assumption of obligations contained in paragraph 2(c). This issue should be addressed
at primary documentation stage. 

  
 106 

	9.	 This Assignment Agreement and any non-contractual obligations arising
out of, or in connection with, it are governed by English law. 

  

	10.	 This Assignment Agreement has been entered into on the date stated at the beginning of this Assignment
Agreement. 

  
 107 

 THE SCHEDULE 

RIGHTS TO BE ASSIGNED AND OBLIGATIONS TO BE RELEASED AND UNDERTAKEN 

[insert relevant details] 

[Facility Office address, fax number and attention details for notices and account details for payments.] 

 

					
	[Existing Lender]	  	[New Lender]	  	
			
	By:	  	By:	  	

 This Assignment Agreement is accepted by the Agent and the Transfer Date is confirmed as
[                    ]. 
 Signature of this
Assignment Agreement by the Agent constitutes confirmation by the Agent of receipt of notice of the assignment referred to herein, which notice the Agent receives on behalf of each Finance Party. 

Banco de Crédito del Perú 
 By: 

  
 108 

 SCHEDULE 6 

FORM OF ACCESSION LETTER 

To:        Banco de Crédito del Perú as Agent 

From:    [Subsidiary] and Gold Fields la Cima S.A. 

Dated: 
 Dear Sirs 

Gold Fields la Cima S.A. – U.S.$150,000,000 Revolving Senior Secured Credit Facility Agreement 

dated [                    ] (the
Agreement) 
  

	1.	 We refer to the Agreement. This is an Accession Letter. Terms defined in the Agreement have the same meaning in
this Accession Letter unless given a different meaning in this Accession Letter. 

  

	2.	 [Subsidiary] agrees to become an Additional [Borrower]/[Guarantor] and to be bound by the terms of the
Agreement as an Additional [Borrower]/[Guarantor] pursuant to [Clause 24.2 (Additional Borrowers)]/[Clause 24.4 (Additional Guarantors)] of the Agreement. [Subsidiary] is a company duly incorporated under the laws of [name of relevant jurisdiction].

  

	3.	 [Gold Fields la Cima S.A. confirms that no Default is continuing or would occur as a result of [Subsidiary]
becoming an Additional Borrower.]2 

  

	4.	 [Subsidiary’s] administrative details are as follows: 

Address: 
 Fax No: Attention: 

 

	5.	 This Accession Letter and any non-contractual obligations arising out
of or in connection with it are governed by English law. 

 [This Accession Letter has been delivered as a deed on the date stated at the
beginning of this Accession Letter.] 
  

					
	Gold Fields la Cima S.A.	  	[Subsidiary]	  	
			
	By:	  	By:	  	

  

	2 	 Include in the case of an Additional Borrower. 

  
 109 

 SCHEDULE 7 

FORM OF RESIGNATION LETTER 

To:        Banco de Crédito del Perú as Agent 

From:    [resigning Guarantor] and Gold Fields la Cima S.A. 

Dated: 
 Dear Sirs 

Gold Fields la Cima S.A. – U.S.$150,000,000 Revolving Senior Secured Credit Facility Agreement 

dated [                    ] (the
Agreement) 
  

	1.	 We refer to the Agreement. This is a Resignation Letter. Terms defined in the Agreement have the same meaning
in this Resignation Letter unless given a different meaning in this Resignation Letter. 

  

	2.	 Pursuant to Clause 24.6 (Resignation of a Guarantor), we request that [resigning Guarantor] be released from
its obligations as a Guarantor under the Agreement. 

  

	3.	 We confirm that no Default is continuing or would result from the acceptance of this request.

  

	4.	 This Resignation Letter and any non-contractual obligations arising out
of or in connection with it are governed by English law. 

  

					
	Gold Fields la Cima S.A.	  	[Subsidiary]	  	
			
	By:	  	By:	  	

  
 110 

 SCHEDULE 8 

SECURITY AGENCY PROVISIONS 
  

	1.	 Definitions 

In this Schedule: 
 Security
Property means all right, title and interest in, to and under any Security Document, including: 
  

	 	(a)	 the Security Assets; 

 

	 	(b)	 the benefit of the undertakings in any Security Document; and 

 

	 	(c)	 all sums received or recovered by the Security Agent pursuant to any Security Document and any assets
representing the same. 

  

	2.	 Declaration of trust 

 

	(a)	 The Security Agent and each other Finance Party agree that the Security Agent shall hold the Security Property
in trust for the benefit of the Finance Parties on the terms of the Finance Documents. 

  

	(b)	 Subject to paragraph (c) below, paragraph (a) above shall not apply to any Security Document which is
expressed to be, or is construed to be, governed by any law other than English law or any other law from time to time designated by the Security Agent and an Obligor or any Security Property arising under any such Security Document.

  

	(c)	 Paragraph (b) above shall not affect or limit the applicability of the provisions of this Schedule 2 with
respect to any Security Document which is expressed to be, or is construed to be, governed by any law other than English law or any other law from time to time designated by the Security Agent and an Obligor or any Security Property arising under
any such Security Document. 

  

	3.	 Defects in Security 

The Security Agent shall not be liable for any failure or omission to perfect, or defect in perfecting, the Security created pursuant to any
Security Document, including: 
  

	 	(a)	 failure to obtain any Authorisation for the execution, validity, enforceability or admissibility in evidence of
any Security Document; or 

  

	 	(b)	 failure to effect or procure registration of or otherwise protect or perfect any of the Security created by the
Security Documents under any laws in any territory. 

  

	4.	 No enquiry 

The Security Agent may accept without enquiry, requisition, objection or investigation such title as any Obligor may have to any Security
Assets. 
  

	5.	 Retention of documents 

The Security Agent may hold title deeds and other documents relating to any of the Security Assets in such manner as it sees fit (including
allowing any Obligor to retain them). 

  
 111 

	6.	 Indemnity out of Security Property 

The Security Agent and every receiver, delegate, attorney, agent or other similar person appointed under any Security Document may indemnify
itself out of the Security Property against any cost, loss or liability incurred by it in that capacity (otherwise than by reason of its own gross negligence or wilful misconduct). 

 

	7.	 Basis of distribution 

To enable it to make any distribution, the Security Agent may fix a date as at which the amount of the Secured Obligations is to be calculated
and may require, and rely on, a certificate from any Finance Party giving details of: 
  

	 	(a)	 any sums due or owing to any Finance Party as at that date; and 

 

	 	(b)	 such other matters as it thinks fit. 

 

	8.	 Rights of Security Agent 

The Security Agent shall have all the rights, privileges and immunities which gratuitous trustees have or may have in England, even though it
is entitled to remuneration. 
  

	9.	 No duty to collect payments 

The Security Agent shall not have any duty: 
  

	 	(a)	 to ensure that any payment or other financial benefit in respect of any of the Security Assets is duly and
punctually paid, received or collected; or 

  

	 	(b)	 to ensure the taking up of any (or any offer of any) stocks, shares, rights, moneys or other property accruing
or offered at any time by way of interest, dividend, redemption, bonus, rights, preference, option, warrant or otherwise in respect of any of the Security Assets. 

 

	10.	 Appropriation 

 

	 	(a)	 Each Party irrevocably waives any right to appropriate any payment to, or other sum received, recovered or held
by, the Security Agent in or towards payment of any particular part of the Secured Obligations and agrees that the Security Agent shall have the exclusive right to do so. 

 

	 	(b)	 Paragraph (a) above will override any application made or purported to be made by any other person.

  

	11.	 Investments 

All money received or held by the Security Agent under the Finance Documents may, in the name of, or under the control of, the Security Agent:

  

	 	(a)	 be invested in any investment it may select; or 

 

	 	(b)	 be deposited at such bank or institution (including itself, any other Finance Party or any Affiliate of any
Finance Party) as it thinks fit. 

  
 112 

	12.	 Suspense account 

Subject to paragraph 13 (Timing of distributions) below the Security Agent may: 

 

	 	(a)	 hold in an interest bearing suspense account any money received by it from any Obligor; and

  

	 	(b)	 invest an amount equal to the balance from time to time standing to the credit of that suspense account in any
of the investments authorised by paragraph 11 (Investments). 

  

	13.	 Timing of distributions 

Distributions by the Security Agent shall be made as and when determined by it. 

 

	14.	 Delegation 

  

	(a)	 The Security Agent may: 

 

	 	(i)	 employ and pay an agent selected by it to transact or conduct any business and to do all acts required to be
done by it (including the receipt and payment of money); 

  

	 	(ii)	 delegate to any person on any terms (including power to sub-delegate)
all or any of its functions; and 

  

	 	(iii)	 with the prior consent of the Majority Lenders, appoint, on such terms as it may determine, or remove, any
person to act either as separate or joint security trustee or agent with those rights and obligations vested in the Security Agent by this Agreement or any Security Document. 

 

	(b)	 The Security Agent will not be: 

 

	 	(i)	 responsible to anyone for any misconduct or omission by any agent, delegate or security trustee or agent
appointed by it pursuant to paragraph (a) above; or 

  

	 	(ii)	 bound to supervise the proceedings or acts of any such agent, delegate or security trustee or agent,

 provided that it exercises reasonable care in selecting that agent, delegate or security trustee or agent. 

 

	15.	 Unwinding 

Any appropriation or distribution, which later transpires to have been, or is agreed by the Security Agent to have been, invalid, or which has
to be refunded, shall be refunded and shall be deemed never to have been made. 
  

	16.	 Disapplication 

Section 1 of the Trustee Act 2000 shall not apply to the duties and powers of the Security Agent in relation to the trusts constituted by
any Finance Document save to the extent required by law. Where there are inconsistencies between the Trustee Act 1925 and the Trustee Act 2000 and the express provisions of any such Finance Document, the provisions of such Finance Document shall, to
the extent allowed by law, prevail and, in the case of any such inconsistency with the Trustee Act 2000, the provisions of such Finance Document shall constitute a restriction or exclusion for the purposes of that Act. 

  
 113 

	17.	 Lenders 

The Security Agent shall be entitled to assume that each Lender is a Lender unless notified by the Agent to the contrary. 

  
 114 

 SCHEDULE 9 

FORM OF COMPLIANCE CERTIFICATE 
  

			
	To:	  	Banco de Crédito del Perú as Agent
		
	From:	  	Gold Fields la Cima S.A.

 Dated: 
 Dear Sirs 

Gold Fields la Cima S.A. – U.S.$150,000,000 Revolving Senior Secured Credit Facility Agreement 

dated [                    ] (the
Agreement) 
 We refer to the Agreement. This is a Compliance Certificate. Terms defined in the Agreement have the same meaning when used in this
Compliance Certificate unless given a different meaning in this Compliance Certificate. 
  

					
	1.	 	We confirm that:
			
		 	(a)	  	(i) Consolidated EBITDA for the Measurement Period ending on [                    ] was
[                    ]; and
			
		 		  	(ii) Consolidated Net Finance Charges for the Measurement Period ending on [                    ] was
[                    ],
			
		 		  	therefore the ratio of Consolidated EBITDA to Consolidated Net Finance Charges for the Measurement Period ending on
[                    ] was
[                    ].
			
		 	(b)	  	(i) Consolidated Net Borrowings for the Measurement Period ending on [                    ] was
[                    ]; and
			
		 		  	(ii) Consolidated EBITDA for the Measurement Period ending on [                    ] was
[                    ],
			
		 		  	therefore the ratio of Consolidated Net Borrowings to Consolidated EBITDA for the Measurement Period ending on
[                    ] was
[                    ].
		
	2.	 	[We confirm that no Default is continuing.]3*

  

					
	Signed: __________________________________	 		 	Signed: __________________________________
			
	Director of	 		 	Director of
	Gold Fields la Cima S.A.	 		 	Gold Fields la Cima S.A.

  

	3 	 If this statement cannot be made, the certificate should identify any Default that is continuing and the steps,
if any, being taken to remedy it. 

  
 115 

	
	[insert applicable certification language]
	
	  

	for and on behalf of
	name of auditors of Gold Fields la Cima S.A.

  
 116 

 SCHEDULE 10 

EXISTING SECURITY/QUASI-SECURITY 
  

									
	Name of Member of Group	  	Security/Quasi-Security	  	 Total Principal Amount of

Indebtedness Secured
	 
	 Gold Fields La Cima S.A.
	  	Offshore Security and Accounts Management Deed	  	U.S.$200,000,000
 Loan Agreement
	  	 	Syndicated	 
	 Gold Fields La Cima S.A.
	  	Offshore Security Deed	  	U.S.$200,000,000
 Loan Agreement
	  	 	Syndicated	 
	 Gold Fields La Cima S.A.
	  	Constitución de Garantía Mobiliaria sobre Depósitos en Cuentas Bancarias	  	U.S.$200,000,000
 Loan Agreement
	  	 	Syndicated	 
	 Gold Fields La Cima S.A.
	  	Constitución de Garantía Mobiliaria sobre Derechos de Crédito, de Cesión de Derechos en Garantía y de Comisión de Confianza	  	U.S.$200,000,000
 Loan Agreement
	  	 	Syndicated	 

  
 117 

 SCHEDULE 11 

TIMETABLES 
 “D –” refers
to the number of Business Days before the relevant Utilisation Date/the first day of the relevant Interest Period. 
  

					
	 	  	 In respect of first

Utilisation only
	  	 In respect of all

other Utilisations

	Delivery of a duly completed Utilisation Request (Clause 5.1 (Delivery of a Utilisation Request))	  	 D – 2

10.00am
	  	 D – 3

10.00am

			
	Agent notifies the Lenders of the Loan in accordance with Clause 5.4 (Lenders’ participation)	  	 D – 2

4:00pm
	  	 D – 3

4:00pm

			
	LIBOR is fixed	  	 Quotation Day as

of 11.00am
 (London time)
	  	 Quotation Day as

of 11.00am
 (London
time)

  
 118 

 SCHEDULE 12 

FORM OF INCREASE CONFIRMATION 
  

			
	To:	  	Banco de Crédito del Perú as Agent and as Onshore Security Agent and Gold Fields la Cima S.A. as Company, for and on behalf of each Obligor
		
	From:	  	[the Increase Lender] (the Increase Lender)
		
	Dated:	  	

 Gold Fields la Cima S.A. – U.S.$150,000,000 Revolving Senior Secured Credit Facility Agreement 

dated [                    ] (the
Agreement) 
  

	1.	 We refer to the Agreement. This is an Increase Confirmation. Terms defined in the Agreement have the same
meaning in this Increase Confirmation unless given a different meaning in this Increase Confirmation. 

  

	2.	 We refer to Clause 2.2 (Increase). 

 

	3.	 The Increase Lender agrees to assume and will assume all of the obligations corresponding to the Commitment
specified in the Schedule (the Relevant Commitment) as if it was an Original Lender under the Agreement. 

  

	4.	 [The Increase Lender confirms that it is not a member of the Group or an Affiliate of a member of the Group.]

  

	5.	 The proposed date on which the increase in relation to the Increase Lender and the Relevant Commitment is to
take effect (the Increase Date) is [                    ]. 

 

	6.	 On the Increase Date, the Increase Lender becomes party to the Finance Documents as a Lender.

  

	7.	 The Facility Office and address, fax number and attention details for notices to the Increase Lender for the
purposes of Clause 30.2 (Addresses) are set out in the Schedule. 

  

	8.	 The Increase Lender expressly acknowledges the limitations on the Lenders’ obligations referred to in
paragraph (f) of Clause 2.2 (Increase). 

  

	9.	 This Increase Confirmation may be executed in any number of counterparts and this has the same effect as if the
signatures on the counterparts were on a single copy of this Increase Confirmation. 

  

	10.	 This Increase Confirmation and any non-contractual obligations arising
out of or in connection with it are governed by English law. 

  

	11.	 This Increase Confirmation has been entered into on the date stated at the beginning of this Increase
Confirmation. 

  
 119 

 THE SCHEDULE 

RELEVANT COMMITMENT/RIGHTS AND OBLIGATIONS TO BE ASSUMED BY THE INCREASE LENDER 

[Insert relevant details] 

[Facility office address, fax number and attention details for notices and account details for payments] 

[Increase Lender] 
 By: 

This Increase Confirmation is accepted as an Increase Confirmation for the purposes of the Agreement by the Agent and the Increase Date is confirmed as
[                    ]. 
 Agent 

By: 

  
 120 

 SCHEDULE 13 

PERMITTED TRANSFEREE LIST 
 Banco de
Crédito del Perú S.A. 
 The Bank of Nova Scotia 

Citi Group Inc. 
 Banco Internacional del Perú S.A.A.
(Interbank) 
 Hongkong Shanghai Banking Corporation Limited (HSBC) 

Banco Santander 
 Banco Interamericano de Finanzas S.A. (BIF)

 Deutsche Bank AG 
 BNP Paribas 

Natixis 
 Credit Suisse 

Société Générale 
 Credit Agricole
Corporate and Investment Bank (Crédit Agricole CIB) 
 Bank of America Merrill Lynch 

JP Morgan Chase 
 Royal Bank of Scotland (RBS) 

Bank of Tokio – Mitsubishi UFJ, Ltd 
 Sumitomo Mitsui
Banking Corporation 
 Barclays PLC 
 ABN AMRO Bank N.V. 

Standard Chartered Bank 
 Standard Bank 

Bank of China 
 China Development Bank (CDB) 

Banco de Crédito e Inversiones (BCI) 

  
 121 

 Banco Español de Crédito S.A. (Banesto) 

Corporación Financiera de Desarrollo S.A. (COFIDE) 

Banco Interamericano de Desarrollo (BID) 
 Mercantil Commerzbank
AG 
 Banco Latinoamericano de Comercio Exterior S.A. (Bladex) 

Banco do Brasil S.A. 
 ING Bank N.V. 

Any Affiliate of, or any bona fide and established trust or fund or other entity managed by, any of the banks or financial institutions listed in this
Schedule 13 provided that such Affiliate, trust, fund or other entity is not a hedge fund and is regularly engaged in or established for the purpose of making, purchasing or investing in loans, securities or other financial assets. 

  
 122 

 SCHEDULE 14 

FORM OF PROMISSORY NOTE 
 P A G A R
É 
 Por: U.S.$ ________________________ 

Vence el: _____________________ 
 Nosotros, Gold
Fields La Cima S.A. (el “Deudor”), con Registro Único de Contribuyente N° 20507828915, sociedad debidamente inscrita en la Partida Electrónica N° 11606015 del Registro de Personas Jurídicas de Lima,
debidamente representada por ______________________, identificado con ________ N° __________ y por _____________________, identificado con ___________ N°___________, según poderes debidamente inscritos en el Asiento ______ de la
Partida Electrónica N° 11606015 del Registro de Personas Jurídicas de Lima, debemos y nos obligamos a pagar incondicionalmente a la orden y disposición de ________________________________________ (el
“Acreedor”) o a quien éste hubiera transferido este Pagaré, la suma de US$_____________________ (______________________________________________ y 00/100 Dólares de los Estados Unidos de América), valor
recibido a nuestra entera satisfacción y que al vencimiento del presente Pagaré nos obligamos a devolver en esta ciudad, mediante fondos disponibles de inmediato y en la misma moneda, en las oficinas del Acreedor ubicadas para estos
efectos en ____________________________________________,    Distrito de____________, Provincia y Departamento de _______ u otras oficinas que el Acreedor designe o en el lugar en que se presente este Pagaré a cobro. 

En adición al principal del monto de este Pagaré abonaremos los intereses compensatorios desde la fecha de vencimiento hasta su total
cancelación. Así nos obligamos a abonar un interés compensatorio a la tasa de interés ascendente a _________________________________ por ciento (___________%) nominal anual sobre el principal, más tributos,
comisiones y gastos a que hubiere lugar. 
 La tasa de interés compensatorio antes indicada será calculada sobre la base de un año de
trescientos sesenta (360) días calendario en función a los días efectivamente transcurridos, calculándose tales intereses sobre el monto remanente del principal. 

En caso de no ser pagado el monto debido bajo este Pagaré en la fecha de su vencimiento, nos obligamos a abonar los intereses moratorios a una tasa
efectiva anual de dos por ciento (2.00%) adicionales a la tasa de interés compensatorio antes señalada, que se devengará automáticamente desde la fecha de vencimiento de este Pagaré hasta el día de su pago
total más gastos notariales, costos y costas judiciales y extrajudiciales incurridos por el Acreedor en razón de nuestro incumplimiento. 
 En
aplicación de lo dispuesto por el artículo 49° de la Ley de Títulos Valores, aprobada mediante Ley N° 27287, autorizamos expresamente para que el tenedor del presente Pagaré pueda prorrogar a su vencimiento o
después de él, el plazo de vencimiento, ya sea por su importe total, cantidad menor o mayor que tuviera a bien concedernos el tenedor, sin requerirse de nuestra expresa suscripción, procediendo a su ejecución por el solo
mérito de haber vencido su plazo sin haberse prorrogado. Bastará que las prórrogas sean anotadas en este mismo documento sin que sea necesario para su plena validez que lo suscribamos nuevamente. 

Autorizamos expresa e irrevocablemente al Acreedor para que a su vencimiento o después de ello, pueda disponer se carguen, apliquen o compensen las
sumas necesarias en nuestras cuentas o depósitos, bienes o valores que en cualquier moneda mantengamos en forma individual o mancomunada con terceros en dicho 

  
 123 

 
Acreedor, o en cualquiera de sus filiales o sucursales del Perú y del exterior, para hacerse cobro de las comisiones correspondientes según el tarifario del Acreedor, así
como para amortizar o cancelar sus intereses, reajustes y/o capital de este Pagaré y demás obligaciones señaladas en el mismo, sin que sea necesario aviso o formalidad previa alguna para este efecto, liberando al Acreedor de
cualquier aviso previo o conformidad posterior, y de toda responsabilidad por la realización de los actos mencionados. En caso el cargo antes mencionado se realice a una cuenta de moneda distinta a Dólares de los Estados Unidos de
América, el Deudor autoriza al Acreedor para que utilice el tipo de cambio que normalmente emplee para este tipo de operaciones. 
 Para todos los
efectos y consecuencias que pudieran derivarse de la emisión del presente Pagaré, el Deudor declara que su domicilio se encuentra ubicado en Av. El Derby 055, Torre 1, Oficina 301, Urbanización Lima Polo and Hunt Club, Distrito
de Santiago de Surco, Provincia y Departamento de Lima. 
 De conformidad con lo establecido por el artículo 52 de la Ley de Títulos Valores,
queda expresamente establecido que el presente Pagaré no requiere ser protestado. Sin embargo, el tenedor queda facultado a protestarlo por falta de pago si así lo estimare conveniente; caso en el que asumiremos los gastos de tal
diligencia notarial o de la formalidad sustitutoria correspondiente. El protesto podrá ser efectuado mediante notificación que se curse al domicilio del Deudor. 

Queda establecido que las obligaciones contenidas en este Pagaré no se extinguirán aún cuando por culpa del Acreedor se hubiese
perjudicado este Pagaré, constituyendo el presente acuerdo pacto en contrario a lo dispuesto por el artículo 1233 del Código Civil. 

Queda igualmente establecido que las cuentas, depósitos, bienes o valores que en cualquier moneda mantengamos en el Acreedor, o en cualquiera de sus
subsidiarias o filiales, podrán ser destinadas al pago total o parcial del presente Pagaré, de sus intereses, capital y/o demás obligaciones señaladas en este Pagaré. 

Nos sometemos expresamente a la jurisdicción y competencia de los Jueces y Tribunales del Distrito Judicial del Cercado de Lima, renunciando al fuero
de nuestro domicilio y señalamos como domicilio para estos efectos a aquel que aparece indicado precedentemente. 
 El presente Pagaré se rige
por las leyes de la República del Perú. 
 Este Pagaré consta de _____ (__) páginas que constituyen un único instrumento.

 Lima, ______________. 

______________________                    
            ______________________ 
 Por: Gold Fields La Cima S.A. 

Registro Único de Contribuyente N° 20507828915 

Dirección: Av. El Derby 055, Torre 1, Oficina 301, Urbanización Lima Polo and Hunt Club, Distrito de Santiago de Surco, Provincia y Departamento
de Lima 
 Representantes: _______________________, identificado con ______________________ y _______________________, identificado con
______________________ Datos de inscripción de poderes: Asiento ______ de la Partida Electrónica N° _________ del Registro de Personas Jurídicas de Lima. 

  
 124 

 SCHEDULE 15 

FORM OF AGREEMENT REGARDING COMPLETION OF NOTE 

ACUERDO DE LLENADO DE PAGARÉ 

Por medio del presente documento, al amparo de lo previsto en el artículo 10 de la Ley N° 27287, Ley de Títulos Valores, Gold Fields La Cima
S.A. (el ‘‘Deudor’’), con Registro Único de Contribuyente N° 20507828915, con domicilio en Av. El Derby 055, Torre 1, Oficina 301, Urbanización Lima Polo and Hunt Club, Distrito de Santiago de Surco,
Provincia y Departamento de Lima, sociedad debidamente inscrita en la Partida Electrónica N° 11606015 del Registro de Personas Jurídicas de Lima, debidamente representada por ______________________, identificado con ___________
N° ________ y por _____________________, identificado con ___________, N° _______, según poderes debidamente inscritos en el Asiento ______ de la Partida Electrónica N°11606015 del Registro de Personas Jurídicas de
Lima; y, ____________________________, con Registro Único de Contribuyente N° ___________, con domicilio en _________________________________, Distrito de _______________, Provincia y Departamento de Lima, inscrito en la Partida
Electrónica N° _________ del Registro de Personas Jurídicas de Lima, debidamente representado por ______________________, identificado con___________N°_______y por _____________________, identificado con ___________ N°
__________, según poderes debidamente inscritos en el Asiento ______ de la Partida Electrónica N° __________ del Registro de Personas Jurídicas de Lima; (el ‘‘Acreedor”) acuerdan que el Acreedor
podrá completar el monto, tasa de interés compensatorio y la fecha de vencimiento del pagaré incompleto emitido por el Deudor a favor del Acreedor el ___ de _______ de ____ (el ‘‘Pagaré’’), en
relación con obligaciones contraídas en virtud del Revolving Senior Secured Credit Facility Agreement suscrito entre el Deudor y, entre otros, el Banco de Crédito del Perú y Scotiabank Perú
S.A.A. con fecha _____________________ (el ‘‘Contrato de Préstamo’’), conforme el mismo sea modificado de tiempo en tiempo, de acuerdo a las instrucciones que se detallan a continuación: 

 

	1.	 La fecha de vencimiento del Pagaré (la ‘‘Fecha de Vencimiento’’)
será la fecha en que el Pagaré sea completado por el Acreedor. 

  

	2.	 El monto a ser incorporado en el Pagaré será el que resulte de la suma de los
préstamos (‘‘Loans’’, según este término está definido en el Contrato de Préstamo) adeudados por el Deudor bajo el Contrato de Préstamo, a la fecha en que se complete el
Pagaré, incluyendo principal e intereses devengados, así como cualquier otro monto devengado o adeudado al Acreedor bajo los Documentos del Financiamiento (‘‘Finance Documents’’, según este
término está definido en el Contrato de Préstamo). 

  

	3.	 La tasa de interés compensatorio a ser incorporada en el Pagaré será equivalente a
la LIBOR a 6 meses más el Margen (‘‘LIBOR’’ y ‘‘Margin’’, según estos términos están definidos en el Contrato de Préstamo) como resultado de aplicar la
fórmula para el cálculo de la tasa de interés en la forma descrita en la sección 8.1 (Calculation of interest) del Contrato de Préstamo en la fecha en que se complete el Pagaré. Se deja expresa
constancia que son aplicables al cálculo de la tasa de interés a ser incorporada en el Pagaré, de resultar ello aplicable de acuerdo con el Contrato de Préstamo, las disposiciones previstas en la cláusula 10 del
Contrato de Préstamo (Changes to the Calculation of Interest). 

  

	4.	 A efectos de completar el Pagaré, ambas partes consienten que el Acreedor no requerirá
aprobación o consentimiento del Deudor o de algún tercero, ni resolución o sentencia emitida por juez, tribunal o autoridad administrativa alguna. 

 

	5.	 El monto adeudado por el Deudor a favor del Acreedor bajo el Pagaré será necesariamente pagado en
Dólares y así se completará el mismo. Asimismo, el Deudor reconoce y declara que el Pagaré es emitido con la cláusula ‘‘sin protesto’’, sin perjuicio de lo cual el Acreedor podrá
protestarlo asumiendo el Deudor los gastos de dicha diligencia. 

  
 125 

	6.	 El Deudor acepta y da por válidas todas las renovaciones y/o prórrogas totales o parciales que se
anoten en el respectivo Pagaré, aún cuando no estén suscritas por éste. El Acreedor comunicará al Deudor respecto de las renovaciones y/o prórrogas que se anoten en el respectivo Pagaré.

  

	7.	 En todo lo no previsto en este documento resultarán aplicables las disposiciones contenidas en el
Contrato de Préstamo, siempre que ello resulte necesario a efectos de completar y ejecutar el Pagaré. 

 Este documento se
rige por las leyes de la República del Perú, incluyendo la Circular de la SBS N°. G-0090-2001. Las Partes se someten a la jurisdicción y competencia de los jueces y tribunales del
Distrito Judicial del Cercado de Lima. 
 Por el presente documento el Deudor declara que ha recibido copia del Pagaré y del presente Acuerdo de
Llenado de Pagaré, y que ha entregado originales de los mismos al Banco de Crédito del Perú, actuando en calidad de Agente y en interés, por cuenta y para beneficio de los prestamistas bajo el Contrato de Préstamo.

 Suscrito por el Deudor, el _____ de ______ de ______ 

______________________                    
            ______________________ 
 Por: Gold Fields La Cima S.A. 

Registro Único de Contribuyente N° 20507828915 

Dirección: Av. El Derby 055, Torre 1, Oficina 301, Urbanización Lima Polo and Hunt Club, Distrito de Santiago de Surco, Provincia y Departamento
de Lima 
 Representantes: _______________________, identificado con ______________________ y _______________________, identificado con
______________________ Datos de inscripción de poderes: Asiento ______ de la Partida Electrónica N° _________ del Registro de Personas Jurídicas de Lima 

Suscrito por el Acreedor, el _____ de ______ de _______ 

Por: _______________________ 
 Registro Único de
Contribuyente N° _______________________ 
 Dirección: _______________________ 

Representantes: _______________________, identificado con _______________________ y _______________________, identificado con _______________________ Datos de
inscripción de poderes: Asiento ______ de la Partida Electrónica N° _________ del Registro de Personas Jurídicas de Lima 

  
 126 

 SCHEDULE 16 

FORM OF COMPLIANCE CERTIFICATE OF INVESTMENTS 
  

			
	To:	  	[Banco de Crédito del Perú] acting as the Agent
		
	From:	  	Gold Fields la Cima S.A.
		
	Dated:	  	

 Dear Sirs, 

Gold Fields la Cima S.A. – U.S.$150,000,000 Revolving Senior Secured Credit Facility Agreement 

dated [__________] (the Agreement) 
 We
refer to the Agreement. This is a Compliance Certificate of Investments (the Compliance Certificate). Terms defined in the Agreement have the same meaning when used in this Compliance Certificate unless given a different meaning in this
Compliance Certificate. 
 By means of this Compliance Certificate, we certify the following: 

 

	(i)	 The Company has taken all necessary measures to comply with all material obligations established by the social
and environmental legislation applicable to the Approval and to the activities carried out in relation to the Approval. 

  

	(ii)	 The Company has taken all necessary measures to comply with all material social and environmental commitments
established in the Environmental Certification and/or any amendment. 

  

	(iii)	 The Company has taken all necessary measures to comply with other material agreements and contractual
commitments in relation to social and environmental matters binding on the Company with any third party, to the extent that they are related to the investments which are subject to the Approval. 

Signed: ____________________ 
 Director of 

Gold Fields la Cima S.A. 

  
 127 

 SIGNATORIES 

The Company 
 GOLD FIELDS LA CIMA S.A. 

 

			
	Address:	  	Av. El Derby N°055, Torre 1, Piso 3, Oficina 301, Urbanización Lima Polo and Hunt Club, District of Santiago de Surco, Province and Department of Lima, Peru
		
	Fax No:	  	+51-1-437-2817
		
	Attention:	  	Jorge Redhead
		
	By:	  	 /s/ Jorge Redhead

 The Original Borrower 

GOLD FIELDS LA CIMA S.A. 
  

			
	Address:	  	Av. El Derby N°055, Torre 1, Piso 3, Oficina 301, Urbanización Lima Polo and Hunt Club, District of Santiago de Surco, Province and Department of Lima, Peru
		
	Fax No:	  	+51-1-437-2817
		
	Attention:	  	Jorge Redhead
		
	By:	  	 /s/ Jorge Redhead

 The Original Guarantor 

GOLD FIELDS LA CIMA S.A. 
  

			
	Address:	  	Av. El Derby N°055, Torre 1, Piso 3, Oficina 301, Urbanización Lima Polo and Hunt Club, District of Santiago de Surco, Province and Department of Lima, Peru
		
	Fax No:	  	+51-1-437-2817
		
	Attention:	  	Jorge Redhead
		
	By:	  	 /s/ Jorge Redhead

 [Gold Fields 2017 – Facility Agreement] 

 The Original Lenders 

BANCO DE CRÉDITO DEL PERÚ 
  

									
	By:	 	 /s/ José Angel Moya E.
	 		 	        	 	 ./s/ Fernando Kaelin L.

		 	José Angel Moya E.	 		 		 	Fernando Kaelin L.
		 	Gerente de Banca Corporativa	 		 		 	Gerente Adjunto Banca Corporativa
		 	DNI 09343222 / MAT 521761	 		 		 	DNI 10305068 / MAT 561532
		 	Área de Banca Corporativa	 		 		 	Área de Banca Corporativa

 SCOTIABANK PERÚ S.A.A. 
  

									
	By:	 	 /s/ Miguel Madueno Buse
	 		 		 	 /s/ Gonzalo Gil Plano

		 	Miguel Madueno Buse	 		 		 	Gonzalo Gil Plano
		 	Vicepresidente	 		 	        	 	Vicepresidente
		 	Banca Corporativa	 		 		 	Finanzas Corporativas

 [Gold Fields 2017 – Facility Agreement] 

							
	The Agent	 		 	
			
	BANCO DE CRÉDITO DEL PERÚ	 	        	 	
	
				
	By:	 	 /s/ Roberto Balerezo M.
	 		 	 /s/ Mario a. Rosas A.

		 		 		 	
		 		 		 	
			
	The Onshore Security Agent	 		 	
			
	BANCO DE CRÉDITO DEL PERÚ	 	        	 	
	
				
	By:	 	 /s/ Roberto Balerezo M.
	 		 	 /s/ Mario a. Rosas A. 

		 		 		 	
		 		 		 	
			
	The Offshore Security Agent	 		 	
			
	 SCOTIABANK EUROPE PLC
  
	 	        	 	
				
	By:	 	 /s/ NCF Petherbridge
	 		 	 /s/ Joanne Bratchell-Owens

		 	NCF Petherbridge	 		 	Joanne Bratchell-Owens
		 	Managing Director	 		 	Director

 [Gold Fields 2017 – Facility Agreement]EX-4.17

 Exhibit 4.17 

EXECUTION VERSION 
 FIFTH AMENDMENT AND
RESTATEMENT AGREEMENT 
 relating to a Revolving Credit Facility Agreement originally dated 22 December 2010, as amended and restated on 6 May
2014, 28 October 2016, 12 June 2017 and 22 March 2018 
 between 

GOLD FIELDS GHANA LIMITED 
 and 

ABOSSO GOLDFIELDS LIMITED 
 and 

THE STANDARD BANK OF SOUTH AFRICA LIMITED (ACTING THROUGH ITS ISLE OF MAN BRANCH) 

and 
 THE STANDARD BANK OF SOUTH AFRICA LIMITED (ACTING
THROUGH ITS CORPORATE AND INVESTMENT BANKING DIVISION) 
  

 PARTIES: 

This Agreement is dated 23 November 2018 and made between: 
  

	(1)	 GOLD FIELDS GHANA LIMITED, a company registered in accordance with the laws of Ghana under
registration number CS592542015 (“GFGL”); 

  

	(2)	 ABOSSO GOLDFIELDS LIMITED, a company registered in accordance with the laws of Ghana under
registration number CS592552015 (“AGL” and together with GFGL, the “Borrowers”); 

  

	(3)	 THE STANDARD BANK OF SOUTH AFRICA LIMITED (ACTING THROUGH ITS ISLE OF MAN BRANCH) (“Original
Lender” with its Facility Office in Isle of Man); and 

  

	(4)	 THE STANDARD BANK OF SOUTH AFRICA LIMITED (ACTING THROUGH ITS CORPORATE AND INVESTMENT BANKING DIVISION)
as agent of the other Finance Parties (the “Agent”). 

 WHEREAS: 

 

	(A)	 The Borrowers, the Original Lender, Stanbic Bank Ghana Limited (the “Security Agent”), the
Agent and others entered into a senior revolving loan facilities agreement dated 22 December 2010 (the “Original Facility Agreement”), as amended and restated on 6 May 2014 pursuant to an amendment and restatement
agreement (the “First Amendment and Restatement Agreement”), in terms of which the Original Lender agreed to make available to the Borrowers senior revolving loan facilities in a maximum aggregate principal amount of
US$70 000 000 (US dollars seventy million). 

  

	(B)	 The Borrowers, the Original Lender, the Security Agent and the Agent agreed to further amend and restate the
terms of the Original Facility Agreement (as amended by the First Amendment and Restatement Agreement) on or about 28 October 2016 pursuant to the terms of a further amendment and restatement agreement (the “Second Amendment and
Restatement Agreement”). 

  

	(C)	 The Borrowers, the Original Lender, the Security Agent and the Agent agreed to amend and restate the terms of
the Original Facility Agreement (as amended by the First Amendment and Restatement Agreement and the Second Amendment and Restatement Agreement) on 12 June 2017 in terms of which the Original Lender agreed to increase the amount of the senior
revolving loan facilities to a maximum aggregate principal amount of US$100 000 000 (US dollars one hundred million) (the “Third Amendment and Restatement Agreement”). 

  
 2 

	(D)	 Further, the Borrowers, the Original Lender, the Security Agent and the Agent agreed to amend and restate the
terms of the Original Facility Agreement (as amended by the First Amendment and Restatement Agreement, the Second Amendment and Restatement Agreement and the Third Amendment and Restatement Agreement) pursuant to an amendment and restatement
agreement dated 22 March 2018 (the “Fourth Amendment and Restatement Agreement”) in terms of which the Original Lender agreed to, inter alia, release the Security Interests (as defined in the Fourth Amendment and
Restatement Agreement) all on the terms and conditions contained therein (the Original Facility Agreement as amended and restated by the First Amendment and Restatement Agreement, the Second Amendment and Restatement Agreement, the Third Amendment
and Restatement Agreement and the Fourth Amendment and Restatement Agreement is hereinafter referred to as the “Facility Agreement”). 

  

	(E)	 The Parties agree to amend and restate the Facility Agreement as set out in this Agreement.

 IT IS AGREED AS FOLLOWS: 
  

	1.	 DEFINITIONS AND INTERPRETATION 

 

	 	1.1.	 Definitions 

Terms defined in the Facility Agreement shall have the same meaning when used in this Agreement, unless defined below. In addition, the
definitions below apply in this Agreement. 
  

	 	1.1.1.	 “Agreement” means this Fifth Amendment and Restatement Agreement. 

 

	 	1.1.2.	 “Effective Date” means the date on which the Agent confirms to the Borrowers in writing that
it has received (or has waived in writing the receipt of) each of the documents and/or evidence listed in Part 1 of Annexure A (Conditions Precedent) of this Agreement in form and substance satisfactory to the Agent).

  

	 	1.1.3.	 “Fifth Amended and Restated Facility Agreement” means the Facility Agreement as amended and
restated by this Agreement in the form set out in Annexure B (Fifth Amended and Restated Facility Agreement) of this Agreement. 

  

	 	1.1.4.	 Long Stop Date” means 30 November 2018. 

 

	 	1.1.5.	 “Parties” means the parties to this Agreement. 

 

	 	1.1.6.	 “Upfront Fee Letter” means the fee letter entered into by and between the Borrowers and the
Original Lender on or about the date of this Agreement and setting out the payment terms of an upfront fee, all on the terms set out therein. 

  
 3 

	 	1.2.	 Interpretation 

 

	 	1.2.1.	 The rules of interpretation of the Facility Agreement shall apply to this Agreement as if set out in this
Agreement save that references in the Facility Agreement to “this Agreement” shall be construed as references to this Agreement. 

  

	 	1.2.2.	 Unless the context otherwise requires, references in the Facility Agreement to “this
Agreement” shall be to the Facility Agreement as amended and restated by this Agreement. 

  

	 	1.2.3.	 In addition to the definitions in clause 1.1, unless the context requires otherwise: 

 

	 	1.2.3.1.	 the singular shall include the plural and vice versa; 

 

	 	1.2.3.2.	 a reference to any one gender, whether masculine, feminine or neuter, includes the other two.

  

	 	1.2.4.	 All the headings and sub-headings in this Agreement are for convenience
only and are not to be taken into account for the purposes of interpreting it. 

  

	 	1.2.5.	 The Annexures hereto form part of this Agreement and shall have effect as if set out in full in the body
of this Agreement. Any reference to this Agreement includes such Annexures. 

  

	 	1.3.	 Third Parties 

A person who is not a Party has no right under the Contracts (Rights of Third parties) Act, 1999 to enforce or enjoy the benefit of any term
of this Agreement. 
  

	 	1.4.	 Designation 

In accordance with the Facility Agreement, the Agent and the Borrowers designate this Agreement as a Finance Document. 

 

	2.	 CONDITIONS PRECEDENT 

The provisions of clause 4 (Amendment And Restatement) of this Agreement shall take effect with effect on and from the Effective
Date. 

  
 4 

	3.	 REPRESENTATIONS 

The Obligors make the representations and warranties set out in clause 18 (Representations) of the Facility Agreement (by reference to
the facts and circumstances then existing): 
  

	 	3.1.	 on the date of this Agreement; and 

 

	 	3.2.	 on the Effective Date, 

and acknowledge that the Finance Parties have entered into this Agreement and have agreed to continue to provide the Facility in full reliance
on those representations and warranties. 
  

	4.	 AMENDMENT AND RESTATEMENT 

 

	 	4.1.	 With effect on and from the Effective Date the Facility Agreement shall be amended and restated in the form set
out in Annexure B (Fifth Amended and Restated Facility Agreement) of this Agreement so that the rights and obligations of the Parties to the Fifth Amended and Restated Facility Agreement shall, on and from the Effective
Date, be governed by and construed in accordance with the provisions of the Fifth Amended and Restated Facility Agreement. 

  

	 	4.2.	 If the Effective Date has not occurred by the Longstop Date (or such later date as may be confirmed by the
Agent to the Borrowers in writing (and whether or not such confirmation is given before or after such Longstop Date), the amendments contemplated by this Agreement shall never take effect. 

 

	5.	 GUARANTEE CONFIRMATION 

 

	 	5.1.	 Subject to the terms and conditions of the Fifth Amended and Restated Facility Agreement, each Obligor confirms
that its obligations under clause 17 (Guarantee and Indemnity) of the Facility Agreement shall remain in full force and effect in respect of, among other things, the other Obligor’s obligations under the Facility Agreement
(in each case, as amended and restated pursuant to this Agreement), notwithstanding the amendments to be made to the Facility Agreement under and in terms of this Agreement. 

 

	 	5.2.	 Each Obligor’s obligations under the Facility Agreement (as amended and restated pursuant to this
Agreement) and the other Finance Documents to which it is a Party is and shall continue to be guaranteed by the other Obligor under clause 17 (Guarantee and Indemnity) of the Facility Agreement. 

  
 5 

	6.	 CONTINUITY AND FURTHER ASSURANCE 

 

	 	6.1.	 Continuing obligations 

The provisions of the Facility Agreement and the other Finance Documents shall, save as amended by this Agreement, continue in full force and
effect and each of the Parties’ rights and obligations under those Finance Documents, save as amended by this Agreement, shall not be affected or impaired by the execution of this Agreement. 

 

	 	6.2.	 Further assurance 

Each Obligor shall, at the request of the Agent and at its own expense, do all such acts and things reasonably necessary or desirable to give
effect to the amendments effected or to be effected pursuant to this Agreement. 
  

	7.	 FEES, COSTS AND EXPENSES 

 

	 	7.1.	 Transaction expenses 

The Borrowers shall, within 5 (five) Business Days of the Effective Date, pay the Finance Parties the amount of all costs and expenses
(including legal fees but subject to any prior written fee proposals of the Agent’s legal counsel, ENSafrica) reasonably incurred by any of them in connection with the negotiation, stamping, preparation, printing, execution, syndication and
registration of this Agreement and any other documents referred to in this Agreement. 
  

	 	7.2.	 Enforcement costs 

The Borrowers shall, within 5 (five) Business Days of demand, pay to each Finance Party the amount of all costs and expenses (including legal
fees) incurred by that Finance Party (acting reasonably) in connection with (i) the enforcement of; or (ii) the preservation of, any rights under any Finance Document. 

7.3. Upfront Fee 
 The
Borrowers shall pay and discharge the upfront fee to the Original Lender in the amount and at the time contemplated by the Upfront Fee Letter. 
  

	8.	 MISCELLANEOUS 

 

	 	8.1.	 Incorporation of terms 

The provisions of clause 30 (Notices), clause 32 (Partial Invalidity), clause 33 (Remedies and Waivers) and clause 37.1
(Jurisdiction) of the Facility Agreement shall be incorporated into this Agreement as if set out in full in this Agreement and as if references in those clauses to “this Agreement” are references to this Agreement. 

  
 6 

	 	8.2.	 Counterparts 

This Agreement may be executed in any number of counterparts, and this has the same effect as if the signatures on the counterparts were on a
single copy of this Agreement. 
  

	9.	 GOVERNING LAW 

This Agreement and any non-contractual obligations arising out of or in connection with it are governed
by English law. 

  
 7 

 This Agreement has been entered into on the date stated at the beginning of this Agreement. 

The Borrower 
 GOLD FIELDS GHANA LIMITED
By: /s/ Alfred Baku 
  

			
	Address:	  	No. 7 Dr Amilcar Cabral Road, Airport Residential Area, Accra, P. O. Box KA 30742, KIA, Accra, Ghana
		
	Tel:	  	+233 (0) 302 770 189/90/91
		
	Fax:	  	+233 (0) 302 770 187
		
	Email:	  	Alfred.Baku@goldfields.com

  
 8 

 The Borrower 

ABOSSO GOLDFIELDS LIMITED By: /s/ Alfred Baku 
  

			
	Address:	  	No. 7 Dr Amilcar Cabral Road, Airport Residential Area, Accra, P. O. Box KA 30742, KIA, Accra, Ghana
		
	Tel:	  	+233 (0) 302 770 189/90/91
		
	Fax:	  	+233 (0) 302 770 187
		
	Email:	  	Alfred.Baku@goldfields.com

  
 9 

 The Guarantor 

GOLD FIELDS GHANA LIMITED By: /s/ John Mawuli Ababio 
  

			
	Address:	  	No. 7 Dr Amilcar Cabral Road, Airport Residential Area, Accra, P. O. Box KA 30742, KIA, Accra, Ghana
		
	Tel:	  	+233 (0) 302 770 189/90/91
		
	Fax:	  	+233 (0) 302 770 187
		
	Email:	  	Alfred.Baku@goldfields.com

  
 10 

 The Guarantor 

ABOSSO GOLDFIELDS LIMITED By: /s/ John Mawuli Ababio 
  

			
	Address:	  	No. 7 Dr Amilcar Cabral Road, Airport Residential Area, Accra, P. O. Box KA 30742, KIA, Accra, Ghana
		
	Tel:	  	+233 (0) 302 770 189/90/91
		
	Fax:	  	+233 (0) 302 770 187
		
	Email:	  	Alfred.Baku@goldfields.com.gh

  
 11 

 The Original Lender 

THE STANDARD BANK OF SOUTH AFRICA LIMITED (ACTING THROUGH ITS ISLE OF MAN BRANCH) 

 

									
	By:	 	 /s/ CHRIS TILL
	 	            	 	By:	  	 /s/ SARAH KENNEDY

		 	CHRIS TILL	 		 		  	SARAH KENNEDY

			
		
	Address:	  	Standard Bank House
		  	One circular road
		  	Douglas
		  	Isle of Man
		
	Tel:	  	+44 1624 643 649/601/604
		
	Fax:	  	+44 1624 643 808
		
	Attention:	  	IOM Branch Transaction Management Unit
		
	Email:	  	iomtransactionmanagementunit@standardbank.com
		
		  	Raymond.Waldeck@standardbank.co.za

  
 12 

					
	The Agent	 		 	
	
	THE STANDARD BANK OF SOUTH AFRICA LIMITED (ACTING THROUGH ITS CORPORATE AND

					
	INVESTMENT BANKING DIVISION) By:	 	 /s/ SASHA COOK
	 	
		 	SASHA COOK 	 	
		 	HEAD - CFS SA	 	

			
		
	Address:	  	30 Baker Street, 3rd Floor East, Johannesburg 2196
		
	Tel:	  	+2711 636 0170
		
	Fax:	  	+2711 636 0222
		
	Attention:	  	The Head, Corporate Financing Solutions SA - Investment Banking
		
	Email:	  	Raymond.Waldeck@standardbank.co.za; and
		
		  	iomtransactionmanagementunit@standardbank.com

  
 13 

 Annexure A 

Part 1 - CONDITIONS PRECEDENT 
  

	1.	 Borrower Group 

 

	 	1.1.	 Certified copies of the constitutional documents of each Obligor or a certificate of an authorised signatory of
GFGL certifying that the constitutional documents previously delivered to the Agent for the purpose of the Facility Agreement have not been amended and remain in full force and effect. 

 

	 	1.2.	 A copy of a resolution of the board of directors of each Obligor: 

 

	 	1.2.1.	 approving the terms of, and the transactions contemplated by, the Finance Documents to which it is a party, and
resolving that it executes the Finance Documents to which it is a party; 

  

	 	1.2.2.	 authorising a specified person or persons to execute the Finance Documents to which it is a party on its
behalf; and 

  

	 	1.2.3.	 authorising a specified person or persons, on its behalf, to sign and/or dispatch all documents and notices
(including, if relevant, any Utilisation Request) to be signed and/or dispatched by it under or in connection with the Finance Documents to which it is a party. 

 

	 	1.3.	 A specimen of the signature of each person authorised by the resolution referred to in clause 1.2 above.

  

	2.	 Legal Opinions 

 

	 	2.1.	 A legal opinion of Edward Nathan Sonnenbergs Inc., legal advisers to the Agent as to English law, substantially
in the form distributed to the Original Lender prior to signing this Agreement. 

  

	 	2.2.	 A legal opinion of ENS Africa (Ghana), legal advisers to the Agent as to Ghanaian law, substantially in the
form distributed to the Original Lenders prior to signing this Agreement. 

  

	3.	 Other documents and evidence 

 

	 	3.1.	 Duly executed copy of this Agreement. 

 

	 	3.2.	 Duly executed copy of the Upfront Fee Letter. 

	 	3.3.	 Evidence to the satisfaction of the Agent that the Fifth Amendment and Restatement Agreement has been duly
stamped by the competent Ghanaian authorities in accordance with the laws of Ghana. 

  

	 	3.4.	 Evidence that all fees (other than the Upfront Fee), costs and expenses due and payable to the Finance Parties
under this Agreement have all been paid. 

  

	 	3.5.	 Evidence that any agent for service of process referred to in clause 37.2 (Service of Process) of the Fifth
Amended and Restated Facility Agreement has accepted (or has confirmed its continued acceptance of) its appointment for the purposes of that agreement. 

  

	 	3.6.	 All documentation and information required by the Finance Parties in relation to each Obligor to enable it to
comply with its “know your customer” procedures. 

  
 2 

 Annexure B 

FIFTH AMENDED AND RESTATED FACILITY AGREEMENT 

REVOLVING CREDIT FACILITY AGREEMENT 
 ORIGINALLY DATED
22 DECEMBER 2010 
 AS AMENDED AND RESTATED BY AN AMENDMENT AND RESTATEMENT AGREEMENT 

DATED 6 MAY 2014 
 AS AMENDED AND RESTATED BY AN
AMENDMENT AND RESTATEMENT AGREEMENT 
 DATED 28 OCTOBER 2016 

AS AMENDED AND RESTATED BY AN AMENDMENT AND RESTATEMENT AGREEMENT 

DATED 12 June 2017 
 AS AMENDED AND RESTATED BY AN
AMENDMENT AND RESTATEMENT AGREEMENT 
 DATED 22 March 2018 

AS AMENDED AND RESTATED BY AN AMENDMENT AND RESTATEMENT AGREEMENT 

DATED 23 November 2018 
 For 

GOLD FIELDS GHANA LIMITED 
 and 

ABOSSO GOLDFIELDS LIMITED 
 with 

THE STANDARD BANK OF SOUTH AFRICA LIMITED (ACTING THROUGH ITS ISLE OF MAN BRANCH) 

and 
 THE STANDARD BANK OF SOUTH AFRICA LIMITED (ACTING
THROUGH ITS CORPORATE AND INVESTMENT BANKING DIVISION) 

 PARTIES: 

This Agreement is made between: 
  

	(A)	 GOLD FIELDS GHANA LIMITED, a company registered in accordance with the laws of Ghana under
registration number CS592542015 (GFGL, as “Borrower” and “Guarantor”); 

  

	(B)	 ABOSSO GOLDFIELDS LIMITED, a company registered in accordance with the laws of Ghana under
registration number CS592552015 (AGL, as “Borrower” and “Guarantor”); 

  

	(C)	 THE STANDARD BANK OF SOUTH AFRICA LIMITED (“SBSA”) (ACTING THROUGH ITS ISLE OF MAN
BRANCH), ( the “Original Lender”); and 

  

	(D)	 THE STANDARD BANK OF SOUTH AFRICA LIMITED, as agent from the Agent Appointment Date (as defined
below) of the other Finance Parties (the “Agent”). 

 IT IS AGREED AS FOLLOWS: 

 

	1.	 DEFINITIONS AND INTERPRETATION 

 

	 	1.1.	 Definitions 

In this Agreement: 
  

	 	1.1.1.	 “2014 Amendment and Restatement Agreement” means the amendment and restatement agreement dated
6 May 2014 between, amongst others, the Borrowers, SBSA, the Agent and the Security Agent which amended and restated this Agreement as set out therein. 

  

	 	1.1.2.	 “2016 Amendment and Restatement Agreement” means the amendment and restatement agreement dated
28 October 2016 between, amongst others, the Borrowers, SBSA, the Agent and the Security Agent which amended and restated this Agreement as set out therein. 

 

	 	1.1.3.	 “2017 Amendment and Restatement Agreement” means the amendment and restatement agreement dated
12 June 2017 between the Borrowers, SBSA, the Agent and the Security Agent which amended and restated this Agreement as set out herein. 

  

	 	1.1.4.	 “2018 Amendment and Restatement Agreement (First)” means the amendment and restatement
agreement dated 22 March 2018 between the Borrowers, SBSA, the Agent and the Security Agent which amended and restated this Agreement as set out herein. 

  
 2 

	 	1.1.5.	 “2018 Amendment and Restatement Agreement (Second)” means the amendment and restatement
agreement dated on or about the Amendment and Restatement Signature Date between the Borrowers, SBSA, the Agent and the Security Agent which amended and restated this Agreement as set out herein. 

 

	 	1.1.6.	 “Accession Letter” means a document substantially in the form set out in Schedule 5
(Form of Accession Letter). 

  

	 	1.1.7.	 “Additional Guarantor” means a company which becomes an Additional Guarantor in accordance
with clause 24 (Changes to the Obligors). 

  

	 	1.1.8.	 “Additional Obligor” means an Additional Guarantor. 

 

	 	1.1.9.	 “Affiliate” means, in relation to any person, a Subsidiary of that person or a Holding Company
of that person or any other Subsidiary of that Holding Company. 

  

	 	1.1.10.	 “Agent” means, with effect from the Agent Appointment Date, the person from time to time
appointed in terms of clause 25.1 (Appointment of the Agent) to act as the agent of the Finance Parties in connection with the Finance Documents, which shall initially be The Standard Bank of South Africa Limited, provided that
prior to the Agent Appointment Date each reference in this Agreement to the Agent shall be deemed to be a reference to the Original Lender. 

  

	 	1.1.11.	 “Agent Appointment Date” means, in the event that the Original Lender intends to transfer any
of its rights or obligations under the Finance Documents in accordance with the provisions of clause 23 (Changes to the Lenders), the date notified by the Original Lender to the Borrowers as being the date from which the Agent
is appointed in terms of clause 25.1 (Appointment of the Agent)). 

  

	 	1.1.12.	 “Agreement” means the Original Facility Agreement (as defined in the 2018 Amendment and
Restatement Agreement (Second)) as amended and/or restated from time to time. 

  

	 	1.1.13.	 “Applicable Anti-Corruption Law” means any anti-corruption or other similar law applicable to
the business conducted by a Material Group Company at the relevant time in any jurisdiction in which that Material Group Company conducts business. 

  
 3 

	 	1.1.14.	 “Amendment and Restatement Signature Date” means the date of signature of the 2018 Amendment
and Restatement Agreement (Second) by the last party thereto signing in time. 

  

	 	1.1.15.	 “Auditors” means, at any time, the auditors of GFGL and AGL at that time, being as at the date
of this Agreement KPMG, and any replacement for those auditors appointed by each Borrower. 

  

	 	1.1.16.	 “Availability Period” means the period from and including Financial Close to and including the
date which is one month prior to the Final Maturity Date. 

  

	 	1.1.17.	 “Available Commitment” means a Lender’s Commitment under the Facility minus (subject as
set out below): 

  

	 	1.1.17.1.	 the amount of its participation in any outstanding Loans under the Facility; and 

 

	 	1.1.17.2.	 in relation to any proposed Utilisation, the amount of its participation in any Loans that are due to be made
under the Facility on or before the proposed Utilisation Date. 

 For the purposes of calculating a Lender’s
Available Commitment in relation to any proposed Utilisation, that Lender’s participation in any Loans that are due to be repaid or prepaid on or before the proposed Utilisation Date shall not be deducted from a Lender’s Commitment. 

 

	 	1.1.18.	 “Borrower” means a borrower named as such in Part 1 of Schedule 1 (The Original
Parties) hereto. 

  

	 	1.1.19.	 “Break Costs” means the amount (if any) by which: 

 

	 	1.1.19.1.	 the interest which a Lender should have received for the period from the date of receipt of all or any part of
its participation in a Loan or Unpaid Sum to the last day of the current Interest Period in respect of that Loan or Unpaid Sum, had the principal amount or Unpaid Sum received been paid on the last day of that Interest Period; 

  
 4 

 exceeds: 
  

	 	1.1.19.2.	 the amount which that Lender would be able to obtain by placing an amount equal to the principal amount or
Unpaid Sum received by it on deposit with a leading bank in the Relevant Interbank Market for a period starting on the Business Day following receipt or recovery and ending on the last day of the current Interest Period. 

 

	 	1.1.20.	 “Business Day” means a day (other than a Saturday or Sunday) on which banks are open for
general business in Ghana, New York and Johannesburg. 

  

	 	1.1.21.	 “Commitment” means: 

 

	 	1.1.21.1.	 in relation to the Original Lender, the amount set opposite its name in in Part II of Schedule 1
(The Original Parties) and any additional amounts transferred to it under this Agreement; and 

  

	 	1.1.21.2.	 in relation to any other Lender, any amount transferred to it under this Agreement, to the extent not
cancelled, reduced or transferred by it under this Agreement. 

  

	 	1.1.22.	 “Compliance Certificate” means a certificate substantially in the form set out in Schedule
7 (Form of Compliance Certificate). 

  

	 	1.1.23.	 “Confidentiality Undertaking” means a confidentiality undertaking substantially in a
recommended form of the LMA or in any other form agreed between the Borrowers and the Agent. 

  

	 	1.1.24.	 “Consolidated EBITDA” has the meaning set out in clause 20.1 (Financial
Definitions). 

  

	 	1.1.25.	 “Consolidated Tangible Net Worth” means, at any time, the “Shareholders’
Equity”, as reported in the “Group Statement of Changes in Shareholders’ Equity” in the last set of annual or semi-annual consolidated financial statements of each Borrower delivered to the Agent pursuant to
this Agreement. 

  

	 	1.1.26.	 “Constitutional Documents” means, in respect of any person at any time, the then current and up-to-date constitutional documents of such person at such time (including, without limitation, such person’s memorandum and articles of association, certificate of
incorporation, articles of incorporation or commercial registration certificate). 

  
 5 

	 	1.1.27.	 “Deed of Release” shall have the same meaning ascribed to it in the 2018 Amendment and
Restatement Agreement (First). 

  

	 	1.1.28.	 “Default” means an Event of Default or any event or circumstance specified in clause 22
(Events of Default) which would (with the expiry of a grace period, the giving of notice, the making of any determination under the Finance Documents or any combination of any of the foregoing) be an Event of Default.

  

	 	1.1.29.	 “Effective Date” has the meaning ascribed to that term in the 2018 Amendment and Restatement
Agreement (Second). 

  

	 	1.1.30.	 “Encumbrance” means: 

 

	 	1.1.30.1.	 any mortgage, charge, pledge, lien, assignment or cession conferring security, hypothecation, a security
interest, preferential right or trust arrangement or other encumbrance of the like securing any obligation of any person; or 

  

	 	1.1.30.2.	 any arrangement under which money or claims to, or for the benefit of, a bank or other account may be applied,
set off or made subject to a combination of accounts so as to effect discharge of any sum owed or payable to any person; or 

  

	 	1.1.30.3.	 any other type of preferential agreement or arrangement (including any title transfer and retention
arrangement), the effect of which is the creation of a security interest. 

  

	 	1.1.31.	 “Environmental Claim” means any claim, proceeding or investigation by any person in respect of
any Environmental Law. 

  

	 	1.1.32.	 “Environmental Law” means any law applicable to the business conducted by a Material Group
Company at the relevant time in any jurisdiction in which that Material Group Company conducts business which relates to the pollution, degradation or protection of the environment or harm to or the protection of human health or the health of
animals or plants. 

  

	 	1.1.33.	 “Environmental Permits” means any permit, licence, consent, approval and other authorisation
and the filing of any notification, report or assessment required under any Environmental Law for the operation of the business of any Material Group Company conducted on or from the properties owned or used by that Material Group Company.

  
 6 

	 	1.1.34.	 “Event of Default” means any event or circumstance specified as such in clause 22
(Events of Default). 

  

	 	1.1.35.	 “Facility” means the revolving credit facility provided under this Agreement to the Borrowers
by the Lenders. 

  

	 	1.1.36.	 “Facility Office” means the office notified by a Lender to the Agent in writing on or before
the date it becomes a Lender (or, following that date, by not less than 5 (five) Business Days’ written notice) as the office through which it will perform its obligations under this Agreement. 

 

	 	1.1.37.	 “Final Maturity Date” means the date falling 3 (three) years after the Effective Date.

  

	 	1.1.38.	 “Finance Document” means this Agreement, the 2014 Amendment and Restatement Agreement, the
2016 Amendment and Restatement Agreement, the 2017 Amendment and Restatement Agreement, the 2018 Amendment and Restatement Agreement (First), the 2018 Amendment and Restatement Agreement (Second), the Deed of Release, the Upfront Fee Letter (as
defined in the 2018 Amendment and Restatement Agreement (Second)), any Accession Letter, Utilisation Requests, any Resignation Letter and any other document designated as such by the Agent and the Borrowers. 

 

	 	1.1.39.	 “Finance Party” means the Agent and/or any Lender. 

 

	 	1.1.40.	 “Financial Close” means 21 June 2017. 

 

	 	1.1.41.	 “Financial Indebtedness” means (without double counting) any indebtedness for or in respect
of: 

  

	 	1.1.41.1.	 moneys borrowed; 

  

	 	1.1.41.2.	 any amount raised by acceptance under any acceptance credit facility or dematerialised equivalent;

  

	 	1.1.41.3.	 any amount raised pursuant to any note purchase facility or the issue of bonds, notes, debentures, loan stock
or any similar instrument; 

  
 7 

	 	1.1.41.4.	 the amount of any liability in respect of any lease or hire purchase contract which would, in accordance with
GAAP, be treated as a finance or capital lease; 

  

	 	1.1.41.5.	 receivables sold or discounted (other than any receivables to the extent they are sold on a non-recourse basis); 

  

	 	1.1.41.6.	 the amount of liability in respect of any purchase price for assets or services the payment of which is
deferred where the deferral of such price is either; 

  

	 	1.1.41.6.1.	 used primarily as a method of raising credit; or 

 

	 	1.1.41.6.2.	 not made in the ordinary course of business; 

 

	 	1.1.41.7.	 any agreement or option to re-acquire an asset if one of the primary
reasons for entering into such agreement or option is to raise finance; 

  

	 	1.1.41.8.	 any amount raised under any other transaction (including any forward sale or purchase agreement) having the
commercial effect of a borrowing; 

  

	 	1.1.41.9.	 any derivative transaction entered into in connection with protection against or benefit from fluctuation in
any rate or price (and, when calculating the value of any derivative transaction, only the marked to market value shall be taken into account); 

  

	 	1.1.41.10.	 any counter-indemnity obligation in respect of a guarantee, indemnity, bond, standby or documentary letter of
credit or any other instrument issued by a bank or financial institution; 

  

	 	1.1.41.11.	 any amount raised by the issue of redeemable shares; and 

 

	 	1.1.41.12.	 the amount of any liability in respect of any guarantee or indemnity for any of its items referred to in
clauses 1.1.41.1 to 1.1.41.11 above. 

  

	 	1.1.42.	 “Financial Year” means, at any time, the financial year of the Group ending on
31 December in each calendar year. 

  
 8 

	 	1.1.43.	 “GAAP” means the generally accepted accounting principles set out in IFRS.

  

	 	1.1.44.	 “Group” means GFGL, AGL and each of their Subsidiaries for the time being.

  

	 	1.1.45.	 “Group Company” means a member of the Group. 

 

	 	1.1.46.	 “Guarantor” means an Original Guarantor and any person who becomes a party to this Agreement
as an Additional Guarantor until it has ceased to be a Guarantor in accordance with clause 24 (Changes to the Obligors). 

  

	 	1.1.47.	 “Holding Company” means, in relation to a company or corporation, any other company or
corporation in respect of which it is a Subsidiary. 

  

	 	1.1.48.	 “IFRS” means International Financial Reporting Standards issued and/or adopted by the
International Accounting Standards Board. 

  

	 	1.1.49.	 “Indebtedness for Borrowed Money” means Financial Indebtedness save for any indebtedness for
or in respect of clauses 1.1.41.9 and 1.1.41.10 of the definition of Financial Indebtedness. 

  

	 	1.1.50.	 “Information” has the meaning given to such term in clause 18.9 (No misleading
information). 

  

	 	1.1.51.	 “Interest Period” means, in relation to a Loan, each period determined in accordance with
clause 9 (Interest Periods) and, in relation to an Unpaid Sum, each period determined in accordance with clause 8.3 (Default interest). 

 

	 	1.1.52.	 “Lender” means: 

 

	 	1.1.52.1.	 the Original Lender; and 

 

	 	1.1.52.2.	 any bank or financial institution which has become a Party in accordance with clause 23 (Changes to the
Lenders), 

 which in each case has not ceased to be a Party in accordance with the terms of this Agreement.

  
 9 

	 	1.1.53.	 “LIBOR” means, in relation to any Loan: 

 

	 	1.1.53.1.	 the applicable Screen Rate; or 

 

	 	1.1.53.2.	 (if no Screen Rate is available for dollars for the Interest Period of that Loan) the arithmetic mean of the
rates (rounded upwards to four decimal places) as supplied to the Agent at its request quoted by the Reference Banks to leading banks in the London interbank market, 

as of the Specified Time on the Quotation Day for the offering of deposits in dollars and for a period comparable to the Interest Period for
that Loan, and if, in either case, that rate is less than zero, LIBOR shall be deemed to be zero. 
  

	 	1.1.54.	 “LMA” means the Loan Market Association. 

 

	 	1.1.55.	 “Loan” means a loan made or to be made under the Facility or the principal amount outstanding
for the time being of that loan. 

  

	 	1.1.56.	 “Majority Lenders” means: 

 

	 	1.1.56.1.	 if there are no Loans then outstanding, a Lender or Lenders whose Commitments aggregate more than 66 2⁄3% (sixty six and two-thirds percent) of the Total Commitments (or, if the Total Commitments have been reduced to zero,
aggregated more than 66 2⁄3% (sixty six and two-thirds percent) of the Total Commitments immediately prior to the
reduction); or 

  

	 	1.1.56.2.	 at any other time, a Lender or Lenders whose participations in the Loans then outstanding aggregate more than
66 2⁄3% (sixty six and two-thirds percent) of all the Loans then outstanding. 

 

	 	1.1.57.	 “Margin” means 3.5% (three point five percent) per annum (inclusive of all statutory and
liquidity costs, the Lenders’ credit margins and all other regulatory costs). 

  

	 	1.1.58.	 “Material Adverse Effect” means a material adverse effect on: 

 

	 	1.1.58.1.	 the ability of an Obligor to perform its financial or other material obligations under the Finance Documents to
which it is a party; or 

  
 10 

	 	1.1.58.2.	 the validity or enforceability of the Finance Documents or any of them. 

 

	 	1.1.59.	 “Material Group Companies” means: 

 

	 	1.1.59.1.	 each Obligor; and 

  

	 	1.1.59.2.	 any Group Company from time to time that is not a Non-Material Group
Company, 

 and “Material Group Company” means, as the context requires, any one of them. 

 

	 	1.1.60.	 “Month” means a period starting on one day in a calendar month and ending on the numerically
corresponding day in the next calendar month, except that: 

  

	 	1.1.60.1.	 (subject to clause 1.1.60.3 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; 

 

	 	1.1.60.2.	 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 

  

	 	1.1.60.3.	 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. 

 clauses 1.1.60.1, 1.1.60.2 and
1.1.60.3 above will only apply to the last Month of any period. 
  

	 	1.1.61.	 “Non-Material Group Company” means, at any time, a
member of the Group (other than an Obligor) which had EBITDA (determined on the same basis as Consolidated EBITDA) or gross assets in its most recently ended Financial Year (on a consolidated basis taking into account it and its Subsidiaries only)
less than or equal to 10% (ten percent) of Consolidated EBITDA (but including, for these purposes only, the net income of any Project Finance Subsidiaries) or gross assets of the Group (calculated according to the most recent set of audited
consolidated 

  
 11 

	 	
financial statements delivered pursuant to clause 19.1 (Financial Statements)). Compliance with the aforementioned condition shall be determined by reference to the latest
audited financial statements of such member of the Group (consolidated in the case of a member of the Group which itself has Subsidiaries), provided that: 

  

	 	1.1.61.1.	 if in the case of any member of the Group, which itself has Subsidiaries, and in respect of which no
consolidated financial statements are prepared and audited, its consolidated EBITDA and gross assets shall be determined on the basis of pro forma consolidated financial statements of the relevant member of the Group and its Subsidiaries, prepared
for this purpose by the Borrowers; 

  

	 	1.1.61.2.	 if any intra-Group transfer or re-organisation takes place, the audited
financial statements of the Group Company and all relevant members of the Group shall be adjusted by the Borrowers in order to take into account such intra-Group transfer or re-organisation; and

  

	 	1.1.61.3.	 the audited financial statements of the Group and any relevant member of the Group shall be adjusted in such a
manner as the Auditors think fair and appropriate to take account of the acquisition or disposal of any member of the Group or any business of any member of the Group, after the date or at which the audited financial statements of the Group are made
up. 

 Should there be any dispute regarding whether any member of the Group is or is not a
Non-Material Group Company such dispute shall be referred, at the request of the Agent, to the Auditors and a report by the Auditors that a member of the Group is or is not a
Non-Material Group Company shall, in the absence of manifest error, be conclusive and binding on all Parties. The costs of obtaining the report by the Auditors will be borne by the unsuccessful party to the
dispute. 
  

	 	1.1.62.	 “Obligor” means a Borrower or a Guarantor. 

 

	 	1.1.63.	 “Original Financial Statements” means the audited consolidated financial statements of each
Borrower for the Financial Year ended 31 December 2016. 

  
 12 

	 	1.1.64.	 “Original Guarantor” means an original guarantor named as such in Part 1 of Schedule 1
(The Original Parties) hereto. 

  

	 	1.1.65.	 “Party” means a party to this Agreement. 

 

	 	1.1.66.	 “Permitted Disposal” means any sale, lease, transfer or other disposal: 

 

	 	1.1.66.1.	 by an Obligor or any member of the Group of obsolete or redundant assets which are no longer required for the
efficient operation of the business of such Obligor or such member of the Group; or 

  

	 	1.1.66.2.	 by an Obligor or any member of the Group in the ordinary course of its day-to-day business if that sale, lease, transfer or other disposal is not otherwise restricted by a term of any Finance Document; or 

 

	 	1.1.66.3.	 by an Obligor to another Obligor (other than to an Additional Obligor); or 

 

	 	1.1.66.4.	 by a member of the Group that is not an Obligor to an Obligor or to an Additional Obligor; or

  

	 	1.1.66.5.	 by a member of the Group that is not an Obligor to another member of the Group that is not an Obligor; or

  

	 	1.1.66.6.	 by any member of the Group to any other person where the higher of the market value or consideration receivable
when aggregated with the higher of the market value or consideration receivable for any other sale, lease, transfer or other disposal by any member of the Group (other than a sale, lease, transfer or other disposal referred to in 1.1.66.1, 1.1.66.2,
1.1.66.3, 1.1.66.4, 1.1.66.5 and 1.1.66.7) does not exceed 10% (ten percent) of the Consolidated Tangible Net Worth in any Financial Year subject to a maximum of 30% (thirty percent) of Consolidated Tangible Net Worth at such time in aggregate
during the period from Financial Close to the Final Maturity Date; or 

  

	 	1.1.66.7.	 for which the Agent has given its prior written consent (acting on the instructions of the Majority Lenders).

  
 13 

	 	1.1.67.	 “Permitted Encumbrance” means: 

 

	 	1.1.67.1.	 any Encumbrance created prior to Financial Close which (i) is disclosed in the Original Financial
Statements and (ii) in all circumstances secures only indebtedness outstanding or a facility available at Financial Close if the principal amount or original facility thereby secured is not increased after Financial Close;

  

	 	1.1.67.2.	 any title transfer or retention arrangement entered into by any member of the Group in the normal course of its
trading activities and on terms no worse for that member of the Group than the standard terms of the relevant supplier; 

  

	 	1.1.67.3.	 any netting or set-off arrangement entered into by any member of the
Group in the ordinary course of its banking arrangements (which shall include, for the avoidance of doubt, those pursuant to hedging arrangements in relation to gold and silver prices, foreign exchange rates and interest rates where such
arrangements are entered into for the purposes of providing protection against fluctuation in such rates or prices in the ordinary course of business), for the purpose of netting debit and credit balances; 

 

	 	1.1.67.4.	 any lien arising by operation of law and in the ordinary course of trading and not by reason of any default
(whether in payments or otherwise), of any member of the Group; 

  

	 	1.1.67.5.	 any Encumbrance over or affecting (or transaction described in clause 21.3 (Negative Pledge)
(Quasi-Encumbrance)) any asset acquired by a member of the Group after the date of this Agreement if: 

  

	 	1.1.67.5.1.	 the Encumbrance or Quasi-Encumbrance was not created in contemplation of the acquisition of that asset by a
member of the Group; 

  

	 	1.1.67.5.2.	 the principal amount secured has not been increased in contemplation of, or since the acquisition of that asset
by a member of the Group; and 

  
 14 

	 	1.1.67.5.3.	 the Encumbrance or Quasi-Encumbrance is (other than an Encumbrance or Quasi-Encumbrance otherwise permitted
pursuant to clauses 1.1.67.2, 1.1.67.3, 1.1.67.4, 1.1.67.6, 1.1.67.7,1.1.67.8) removed or discharged within six months of the date of acquisition of such asset; 

 

	 	1.1.67.6.	 any Encumbrance or Quasi-Encumbrance over or affecting any asset of any company which becomes a member of the
Group after the date of this Agreement, where the Encumbrance or Quasi-Encumbrance is created prior to the date on which that company becomes a member of the Group, if: 

 

	 	1.1.67.6.1.	 the Encumbrance or Quasi-Encumbrance was not created in contemplation of the acquisition of that company;

  

	 	1.1.67.6.2.	 the principal amount secured has not increased in contemplation of or since the acquisition of that company;
and 

  

	 	1.1.67.6.3.	 the Encumbrance or Quasi-Encumbrance is (other than an Encumbrance or Quasi-Encumbrance otherwise permitted
pursuant to clauses 1.1.67.2,1.1.67.3, 1.1.67.4, 1.1.67.5, 1.1.67.7 or, 1.1.67.8) removed or discharged within six months of that company becoming a member of the Group; 

 

	 	1.1.67.7.	 in respect of Encumbrances or Quasi-Encumbrances over or affecting any asset of any Material Group Company, any
Encumbrance or Quasi-Encumbrance securing indebtedness the principal amount of which (when aggregated with the principal amount of any other indebtedness which has the benefit of Encumbrance or Quasi-Encumbrance other than any permitted under
clauses 1.1.67.1 to 1.1.67.6 above and 1.1.67.8 below)) does not at any time exceed 5% (five percent) of Consolidated Tangible Net Worth (or its equivalent in another currency) (but adjusted to include the net value of new assets acquired since the
last date of the latest set of consolidated annual financial statements of the Group); or 

  
 15 

	 	1.1.67.8.	 any other Encumbrance or Quasi-Encumbrance as agreed by the Agent (acting on the instructions of the Majority
Lenders) in writing. 

  

	 	1.1.68.	 “Permitted Financial Indebtedness” means any Financial Indebtedness: 

 

	 	1.1.68.1.	 arising under the Finance Documents; 

 

	 	1.1.68.2.	 arising under any environmental bond which any member of the Group is required to issue by any applicable law;

  

	 	1.1.68.3.	 arising under any derivative transaction entered into in connection with protection against or benefit from
fluctuation in any rate or price but not for speculative purposes; 

  

	 	1.1.68.4.	 of the Group existing and available on Financial Close (or, of any person that becomes a member of the Group
from time to time, provided that, such Financial Indebtedness existed at the time such person became a member of the Group and was not created in anticipation thereof); 

 

	 	1.1.68.5.	 between Group Companies to the extent incurred for the purposes of financing general working capital
requirements; or 

  

	 	1.1.68.6.	 not falling within clauses 1.1.68.1 to 1.1.68.5 above provided that the aggregate amount of all Financial
Indebtedness (excluding, for the avoidance of doubt, any Financial Indebtedness incurred by a Guarantor) permitted under this clause 1.1.68.6 does not at any time exceed US$75 000 000 (US dollars seventy five million) (or its equivalent).

  

	 	1.1.69.	 “Permitted Refinancing” means, at any time, a Refinancing of the Facility if:

  

	 	1.1.69.1.	 the proceeds of such Refinancing are immediately applied to voluntarily prepay the outstanding Loans in full or
in part under the Facility in accordance with clause 7.6 (Voluntary Prepayment and Cancellation: Permitted Refinancing); and 

  
 16 

	 	1.1.69.2.	 arrangements are in place prior to the implementation of such Refinancing to the satisfaction of the Agent that
the proceeds of such Refinancing will be applied to discharge such outstanding Loans in full or in part on the relevant date on which such proceeds are advanced pursuant to the terms of such Refinancing. 

 

	 	1.1.70.	 “Project Finance Subsidiary” means a single purpose company or other entity (excluding the
Borrowers) whose sole business is a project comprised of the ownership, development, construction, refurbishment, commissioning and/or operation of an asset which has incurred Project Finance Borrowings. 

 

	 	1.1.71.	 “Project Finance Borrowings” means: 

 

	 	1.1.71.1.	 any indebtedness to finance (or refinance) a project comprised of the ownership, development, construction,
refurbishment, commissioning and/or operation of assets which is incurred by a Project Finance Subsidiary in connection with such project and in respect of which the recourse of the person(s) making any such finance (or re-finance) available to that Project Finance Subsidiary for the payment, repayment and prepayment of such indebtedness is limited to (i) the Project Finance Subsidiary and its assets and/or the shares in that
Project Finance Subsidiary and/or (ii) during the period prior to successful completion of the relevant completion tests applicable to such project guarantees from any one or more members of the Group; or 

 

	 	1.1.71.2.	 any indebtedness the terms and conditions of which have been approved by the Agent and which the Agent has
agreed in writing (acting on the instructions of the Majority Lenders) to treat as a “Project Finance Borrowing” for the purposes of this Agreement. 

 

	 	1.1.72.	 “Quotation Day” means, in the case of a determination of LIBOR, the date on which quotations
would customarily be provided by leading banks in the London Interbank Market for deposits or amounts in dollars for delivery on the first day of such period or on any other relevant date. 

  
 17 

	 	1.1.73.	 “Reference Banks” means, the principal London offices of Standard Bank, Citi Bank, HSBC and/or
such other banks as may be appointed by the Agent in consultation with the Borrowers. 

  

	 	1.1.74.	 “Refinancing” means a repayment of all or any part of the outstanding Loans, excluding
Mandatory Prepayments, funded by any Borrower by way of the incurrence of Financial Indebtedness and Refinance shall be construed accordingly. 

  

	 	1.1.75.	 “Relevant Interbank Market” means the London interbank market. 

 

	 	1.1.76.	 “Repeating Representations” means each of the representations set out in clause 18.1
(Status) to clause 18.5 (Authorisations) (inclusive) and clause 18.7 (Deduction of Tax) to clause 18.17 (No Material Adverse Effect) (inclusive). 

 

	 	1.1.77.	 “Repetition Date” means the first day of each Interest Period (other than on the first day of
the first Interest Period for a Loan) and, if the Interest Period is longer than 3 (three) months, on the dates falling at three monthly intervals after the first day of the Interest Period. 

 

	 	1.1.78.	 “Resignation Letter” means a letter substantially in the form set out in Schedule 6
(Form of Resignation Letter). 

  

	 	1.1.79.	 “Rollover Loans” means one or more loans, subject to the terms of this Agreement,
automatically: 

  

	 	1.1.79.1.	 made or to be made on the same day that a maturing Loan is due to be repaid; 

 

	 	1.1.79.2.	 the aggregate amount of which is equal to or less than the maturing Loan; and 

 

	 	1.1.79.3.	 made or to be made for the purpose of refinancing a maturing Loan. 

 

	 	1.1.80.	 “Sanctions” means any economic sanctions laws, regulations, embargoes or restrictive measures
administered, enacted or enforced by the United States government (including, without limitation, the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State and including, without limitation, the
designation as a “specially designated national” or “blocked person”), the United Nations Security Council, the European Union, Her Majesty’s Treasury, the government of the Republic of South Africa or any other relevant
sanctions authority which replaces, or is a successor to, any of the foregoing. 

  
 18 

	 	1.1.81.	 “Sanctioned Country” means a country, territory or region that is the target of Sanctions.

  

	 	1.1.82.	 “Screen Rate” means the London interbank offered rate administered by ICE Benchmark
Administration Limited (or any other person which takes over the administration of that rate) for US$ for the relevant period displayed (before any correction, recalculation or republication by the administrator) on page LIBOR01 or LIBOR02 of the
Thomson Reuters screen (or any replacement Thomson Reuters page which displays that rate) or on the appropriate page of such other information service which publishes that rate from time to time in place of Thomson Reuters. If such page or service
ceases to be available, the Agent may specify another page or service displaying the relevant rate after consultation with the Borrowers and the Lenders. 

  

	 	1.1.83.	 “Security Agent” means Stanbic Bank Ghana Limited. 

 

	 	1.1.84.	 “Signature Date” means 22 December 2010. 

 

	 	1.1.85.	 “Specified Time” means a time determined in accordance with Schedule 8
(Timetable). 

  

	 	1.1.86.	 “Subsidiary” means, in relation to any company or corporation, a company or corporation:

  

	 	1.1.86.1.	 which is controlled, directly or indirectly, by the first mentioned company or corporation;

  

	 	1.1.86.2.	 more than half the issued share capital of which is beneficially owned, directly or indirectly by the first
mentioned company or corporation; or 

  

	 	1.1.86.3.	 which is a Subsidiary of another Subsidiary of the first mentioned company or corporation,

 and for this purpose, a company or corporation shall be treated as being controlled by another if that other company or
corporation is able to direct its affairs and/or to control the composition of its board of directors or equivalent body. 

  
 19 

	 	1.1.87.	 “Tax” means any tax, levy, impost, duty or other charge or withholding of a similar nature
(including, without limitation, any penalty or interest payable in connection with any failure to pay or any delay in paying any of the same). 

  

	 	1.1.88.	 “Tax Credit” means a credit against, relief or remission for, or repayment of any Tax.

  

	 	1.1.89.	 “Tax Deduction” means a deduction or withholding for or on account of Tax from a payment under
a Finance Document. 

  

	 	1.1.90.	 “Tax Payment” means either the increase in a payment made by an Obligor to a Finance Party
under clause 12.1 (Tax gross-up) or a payment under clause 12.2 (Tax indemnity). 

  

	 	1.1.91.	 “Total Available Commitment” means in relation to the Facility, the aggregate for the time
being of each Lender’s Available Commitment. 

  

	 	1.1.92.	 “Total Commitment” means in relation to the Facility, the aggregate for the time being of each
Lender’s Commitment. 

  

	 	1.1.93.	 “Transfer Certificate” means a certificate substantially in the form set out in Schedule
4 (Form of Transfer Certificate) or any other form agreed between the Agent and the Borrowers. 

  

	 	1.1.94.	 “Transfer Date” means, in relation to a transfer, the later of: 

 

	 	1.1.94.1.	 the proposed Transfer Date specified in the Transfer Certificate; and 

 

	 	1.1.94.2.	 the date on which the Agent executes the Transfer Certificate. 

 

	 	1.1.95.	 “Unpaid Sum” means any sum due and payable but unpaid by an Obligor under the Finance
Documents. 

  

	 	1.1.96.	 “Utilisation” means a utilisation of the Facility. 

 

	 	1.1.97.	 “Utilisation Date” means the date of a Utilisation, being the date on which the relevant Loan
is to be made. 

  

	 	1.1.98.	 “Utilisation Request” means a notice substantially in the form set out in Schedule 3
(Utilisation Request). 

  
 20 

	 	1.1.99.	 “VAT” means value added tax as provided for in the Value Added Tax Act 1994 (Act 546) of the
Republic of Ghana, and any value added tax, turnover tax, sales tax, indirect tax or any other tax of a similar nature in any relevant jurisdiction. 

  

	 	1.2.	 Construction 

  

	 	1.2.1.	 Unless a contrary indication appears any reference in this Agreement to: 

 

	 	1.2.1.1.	 the Agent, any Finance Party, any Lender, any Obligor or any Party shall be construed so as to include its
successors in title, permitted assigns and permitted transferees; 

  

	 	1.2.1.2.	 arm’s length means terms that are fair and reasonable to the counterparty of a transaction and no more or
less favourable to the other party to the relevant transaction as could reasonably be expected to be obtained in a comparable arm’s length transaction with a person that is not the ultimate Holding Company of such counterparty or an entity of
which such counterparty or its ultimate Holding Company has direct or indirect control, or owns directly or indirectly more than 20% (twenty percent) of the share capital or similar rights of ownership; 

 

	 	1.2.1.3.	 the cancellation of the Facility (or any part thereof) shall be construed as a reference to a cancellation of
the Total Available Commitments (or the applicable portion thereof); 

  

	 	1.2.1.4.	 assets includes present and future properties, revenues and rights of every description; 

 

	 	1.2.1.5.	 audited means, in respect of any financial statement, those financial statements as audited by the Auditors;

  

	 	1.2.1.6.	 authorisations mean any authorisation, consent, registration, filing agreement, notarisation, certificate,
licence, approval, resolution, permit and/or authority or any exemption from any of the aforesaid, by, with or from any authority; 

  

	 	1.2.1.7.	 a Finance Document or any other agreement or instrument is a reference to that Finance Document or other
agreement or instrument as amended, novated, supplemented, extended, replaced or restated; 

  
 21 

	 	1.2.1.8.	 indebtedness shall be construed so as to include any obligation (whether incurred as principal or as surety)
for the payment or repayment of money, whether present or future, actual or contingent; 

  

	 	1.2.1.9.	 law shall be construed as any law (including statutory, common or customary law), statute, constitution,
decree, judgment, treaty, regulation, directive, by-law, order, other legislative measure, requirement, request or guideline (whether or not having the force of law but, if not having the force of law, is
generally complied with by the persons to whom it is addressed or applied) of any government, supranational, local government, statutory or regulatory or self-regulatory or similar body or authority or court and the common law, as amended, replaced,
re-enacted, restated or reinterpreted from time to time; 

  

	 	1.2.1.10.	 a person shall be construed as a reference to any person, firm, company, corporation, government, state or
agency of a state or any association, trust or partnership (whether or not having separate legal personality) or two or more of the foregoing; 

  

	 	1.2.1.11.	 a regulation includes any regulation, rule, official directive, request or guideline (whether or not having the
force of law but complied with generally) of any governmental, intergovernmental or supranational body, agency, department or regulatory, self-regulatory or other authority or organisation; 

 

	 	1.2.1.12.	 a provision of law is a reference to that provision as amended or
re-enacted; and 

  

	 	1.2.1.13.	 a time of day is a reference to London time. 

 

	 	1.2.2.	 Section, clause and Schedule headings are for ease of reference only. 

 

	 	1.2.3.	 Unless a contrary indication appears, a term used in any other Finance Document or in any notice given under or
in connection with any Finance Document has the same meaning in that Finance Document or notice as in this Agreement. 

  
 22 

	 	1.2.4.	 A Default (other than an Event of Default) is continuing if it has not been remedied or waived and an Event of
Default is continuing if it has not been remedied or waived. 

  

	 	1.3.	 Currency Symbols and Definitions 

US$, $ and dollars denote lawful currency of the United States of America. 

 

	 	1.4.	 Third party rights 

 

	 	1.4.1.	 Unless expressly provided to the contrary in a Finance Document, a person who is not a Party has no right under
the Contracts (Rights of Third Parties) Act 1999 (the “Third Parties Act”) to enforce or to enjoy the benefit of any term of this Agreement. 

  

	 	1.4.2.	 Notwithstanding any term of any Finance Document, the consent of any person who is not a Party is not required
to rescind or vary this Agreement at any time. 

  

	2.	 THE FACILITY 

  

	 	2.1.	 The Facility 

  

	 	2.1.1.	 Subject to the terms of this Agreement, the Lenders make available to the Borrowers a dollar denominated
revolving credit facility in an aggregate amount equal to the Total Commitment. 

  

	 	2.1.2.	 The Facility will be available during the Availability Period. 

 

	 	2.1.3.	 All amounts outstanding under the 2018 Amendment and Restatement Agreement (First) shall continue to be
governed by the terms and conditions of this Agreement (as amended by the 2018 Amendment and Restatement Agreement (Second)). 

  

	 	2.1.4.	 The Loans shall rank pari passu amongst each other. 

 

	 	2.2.	 Finance Parties’ rights and obligations 

 

	 	2.2.1.	 The obligations of each Finance Party under the Finance Documents are several. Failure by a Finance Party to
perform its obligations under the Finance Documents does not affect the obligations of any other Party under the Finance Documents. No Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents.

  
 23 

	 	2.2.2.	 The rights of each Finance Party under or in connection with the Finance Documents are separate and independent
rights and any debt arising under the Finance Documents to a Finance Party from an Obligor shall be a separate and independent debt. 

  

	 	2.2.3.	 A Finance Party may, except as otherwise stated in the Finance Documents, separately enforce its rights under
the Finance Documents. 

  

	 	2.3.	 Borrowers rights and obligations 

Without limitation or prejudice to clause 17 (Guarantee and Indemnity): 

 

	 	2.3.1.	 each of the Borrowers (the Co-obligors) shall be jointly and
severally liable for their respective obligations and liabilities arising under this Agreement. 

  

	 	2.3.2.	 the Finance Parties may take action against, or release or compromise the liability of, any Co-obligor, or grant time or any other indulgence, without affecting the liability of the other Co-obligor(s). 

 

	 	2.3.3.	 all the provisions set out at clauses 17.3 (Reinstatement) to 17.7 (Deferral of Guarantors
Rights) (inclusive) shall also apply to the joint and several obligations of the Co-obligors (the “J&S Obligations”) as provided for in clause 2.3.1 above, mutatis
mutandis (and any references in those clauses to “Guarantor” or “Guarantee” shall be construed as references to “Co-obligor” and the “J&S Obligations” for
purposes of this clause 2.3.3, respectively). 

  

	 	2.4.	 Guarantor’s rights and obligations 

 

	 	2.4.1.	 Without limitation or prejudice to clause 17 (Guarantee and Indemnity), each of the Guarantors shall be
jointly and severally liable for their respective obligations and liabilities arising under this Agreement. 

  

	 	2.4.2.	 Without limitation or prejudice to clause 17 (Guarantee and Indemnity), the Finance Parties may take
action against, or release or compromise the liability of, any Guarantor, or grant time or any other indulgence, without affecting the liability of the other Guarantor(s). 

  
 24 

	3.	 PURPOSE 

  

	 	3.1.	 Purpose 

Each Borrower shall apply all amounts borrowed by it under the Facility towards: 

 

	 	3.1.1.	 general corporate purposes; 

 

	 	3.1.2.	 working capital purposes; and/or 

 

	 	3.1.3.	 capital expenditure purposes, including the purchase of a yellow metal fleet. 

 

	 	3.2.	 Monitoring 

No Finance Party is bound to monitor or verify the application of any amount borrowed pursuant to this Agreement. 

 

	4.	 CONDITIONS OF UTILISATION 

 

	 	4.1.	 The Borrowers may request a Loan under the Facility by delivering an irrevocable written Utilisation Request to
the Agent not less than 3 (three) Business Days prior to the date of the requested Loan, specifying the amount of the Loan required (which shall not be less than US$2 000 000 (US dollars two million)) and the Interest Period applicable to such Loan.
Utilisation Requests will be limited to 3 (three) per month and 10 (ten) Loans in total at any time. 

  

	 	4.2.	 All monies advanced shall be paid by the Lenders into a SBG bank account nominated by the Borrowers in the
Utilisation Request. 

  

	 	4.3.	 Initial conditions precedent 

No Borrower may deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of
Schedule 2 (Conditions Precedent to Initial Utilisation) (the “Initial Conditions Precedent”) in form and substance satisfactory to the Agent. The Parties record that the Initial Conditions Precedent were
satisfied (or waived) prior to the first Utilisation of the Facility. 
  

	 	4.4.	 Further conditions precedent 

The Lenders will only be obliged to comply with clause 5.4 (Lenders’ participation) if on the date of the Utilisation Request and
on the proposed Utilisation Date: 

  
 25 

	 	4.4.1.	 in the case of a Rollover Loan, no Event of Default is continuing or would result from the proposed Rollover
Loan, and in the case of any other Loan, no Default is continuing or would result from the proposed Loan; and 

  

	 	4.4.2.	 the Repeating Representations to be made by each Obligor are true in all material respects.

  

	5.	 UTILISATION 

  

	 	5.1.	 Delivery of a Utilisation Request 

A Borrower may utilise the Facility by delivery to the Agent of a duly completed Utilisation Request not later than the Specified Time. 

 

	 	5.2.	 Completion of a Utilisation Request 

 

	 	5.2.1.	 Each Utilisation Request is irrevocable and will not be regarded as having been duly completed unless:

  

	 	5.2.1.1.	 the proposed Utilisation Date is a Business Day within the Availability Period for the Facility;

  

	 	5.2.1.2.	 the currency and amount of the Utilisation comply with clause 5.3 (Currency and amount); and

  

	 	5.2.1.3.	 the proposed Interest Period complies with clause 9 (Interest Periods). 

 

	 	5.2.2.	 Only one Loan may be requested in each Utilisation Request. 

 

	 	5.3.	 Currency and amount 

 

	 	5.3.1.	 The currency specified in a Utilisation Request must be dollars. 

 

	 	5.3.2.	 The amount of the proposed Loan must be an amount which is not more than the Available Commitment, and shall be
a minimum of US$2 000 000 (US dollars two million) or, if less, the Available Commitment. 

  

	 	5.4.	 Lenders’ participation 

 

	 	5.4.1.	 If the conditions set out in this Agreement have been met, each Lender shall, subject to clause 6.1 as regards
to an automatic refinancing of a Loan through a Rollover Loan, make its participation in each Loan available by the Utilisation Date through its Facility Office. 

  
 26 

	 	5.4.2.	 The amount of each Lender’s participation in the Facility will be equal to the proportion borne by its
Available Commitment to the Total Available Commitment immediately prior to making the Loan. 

  

	 	5.5.	 Cancellation of Commitment 

The Commitments which, at that time, are unutilised, shall be immediately cancelled at the end of the Availability Period. 

 

	6.	 REPAYMENT 

  

	 	6.1.	 Each Loan shall be repaid in full on the last day of its Interest Period (save that each such Loan shall
(subject to the terms of this Agreement and to the extent that it was not repaid in cash on or before the last day of its Interest Period), be automatically refinanced without the need for the submission of a Utilisation Request as a Rollover Loan
for the next following Interest Period). 

  

	 	6.2.	 Notwithstanding any other provision of the Finance Documents, all amounts outstanding under the Finance
Documents shall be repaid in full on or before the Final Maturity Date. Amounts pre-paid may be redrawn (save for mandatory prepayments). 

 

	7.	 PREPAYMENT AND CANCELLATION 

Mandatory Prepayment and Cancellation 
  

	 	7.1.	 Illegality 

If it becomes unlawful in any applicable jurisdiction for a Lender to perform any of its obligations as contemplated by this Agreement or to
fund or maintain its participation in any Loan: 
  

	 	7.1.1.	 that Lender shall promptly notify the Agent upon becoming aware of that event; 

 

	 	7.1.2.	 upon the Agent notifying each Borrower, the Commitment of that Lender will be immediately cancelled; and

  

	 	7.1.3.	 each Borrower shall repay that Lender’s participation in the Loans made to that Borrower on the last day
of the Interest Period for each Loan occurring after the Agent has notified each Borrower or, if earlier, the date specified by the Lender in the notice delivered to the Agent (being no earlier than the last day of any applicable grace period
permitted by law). 

  
 27 

	 	7.2.	 Change of control 

If Gold Fields Limited ceases to hold at least a 50% (fifty percent) indirect economic interest in either Borrower: 

 

	 	7.2.1.	 such Borrower shall promptly notify the Agent upon becoming aware of that event; 

 

	 	7.2.2.	 a Lender shall not be obliged to fund a Utilisation (except for a Rollover Loan) and the Agent and the relevant
Borrower shall consult about such cessation; 

  

	 	7.2.3.	 if the Majority Lenders so require after a period of 45 (forty five) days from receipt of the notice referred
to in 7.2.1 above, the Agent shall by notice to the relevant Borrower, (such notice to be delivered no later than 60 (sixty) days from receipt of the notice referred to in 7.2.1 above), cancel the Total Commitments and declare all outstanding Loans,
together with accrued interest and all other amounts accrued under the Finance Documents due and payable within 5 (five) business days, whereupon the Total Commitments will be cancelled and all such outstanding amounts will become immediately due
and payable at the end of the 5 (five) day period together with any Break Costs if the repayment is made on a date other than an Interest Payment Date; 

  

	 	7.2.4.	 if the Agent does not serve the notice referred to in clause 7.2.3 above, a Lender may by notice to the Agent
which shall be delivered not earlier than 45 (forty five) days nor later than 60 (sixty) days from receipt of the notice referred to in 7.2.1 above, whereupon the Agent shall by notice to the relevant Borrower (such notice to be delivered promptly
after receipt of such Lender notification), cancel the Commitment of that Lender and declare the participation of that Lender in all outstanding Loans, together with accrued interest thereon and all other amounts due to such Lender under the Finance
Documents immediately due and payable, whereupon the Commitment of that Lender will be cancelled and all such outstanding amounts will become immediately due and payable. 

 

	 	7.3.	 Distributions 

 

	 	7.3.1.	 In respect of any Distributions made by any Borrower within a Measurement Period, if the ratio of Consolidated
Net Borrowings to Consolidated EBITDA in respect of the relevant Measurement Period exceeds 1:1, then the Lenders shall have the right (Lenders’ Right) to 

  
 28 

	 	
reduce the Total Commitment by an amount equal to 50% (fifty percent) of the amount by which the Distributions exceed 60% (sixty percent) of Consolidated Profit After Tax for that Measurement
Period, provided that: 

  

	 	7.3.1.1.	 the following amounts in respect of a Measurement Period may be carried forward as distributable amounts in
respect of any future Measurement Period without triggering the Lenders’ Right: 

  

	 	7.3.1.1.1.	 if the ratio of Consolidated Net Borrowings to Consolidated EBITDA in respect of the relevant Measurement
Period is less than 1:1, the difference between Consolidated Profit After Tax and the actual Distributions less distributed amounts carried forward in previous Measurement Periods as contemplated in this clause 7.3.1.1 for that Measurement Period;
or 

  

	 	7.3.1.1.2.	 if the ratio of Consolidated Net Borrowings to Consolidated EBITDA in respect of the relevant Measurement
Period exceeds 1:1, the difference between 50% (fifty percent) of the Consolidated Profit After Tax and the actual Distributions, less distributed amounts carried forward in previous Measurement Periods as contemplated in this clause 7.3.1.1, for
that Measurement Period. 

 Any reduction of the Total Commitment under this clause 7.3 shall reduce the Facility rateably
under this Agreement. 
  

	 	7.3.2.	 Distributions means, the declaration and/or payment of any amount or property, whether directly
or indirectly, to any shareholder, or the distribution of any right or asset to any shareholder, the repayment of shareholder loan accounts, the payment of interest on shareholders’ loan accounts, the payment of any consideration pursuant to
the implementation of a repurchase of shares, and the payment of any consideration pursuant to the implementation of a redemption of shares. For the purposes of this clause the term “shares” shall include all classes of shares.

  
 29 

	 	7.3.3.	 Consolidated Profit after Tax means, for any Measurement Period, the aggregate of the
Borrowers’ consolidated net profit after tax attributable to shareholders having adjusted for the after tax effect in respect of the following items: 

  

	 	7.3.3.1.	 the unrealised gains and losses on financial instruments and debt but adjusted to include cash payments and
receipts in relation to such underlying financial instruments; 

  

	 	7.3.3.2.	 any extraordinary or exceptional items; 

 

	 	7.3.3.3.	 eliminating the effect of any inter-company transactions between the Borrowers; 

 

	 	7.3.3.4.	 share based payments; and 

 

	 	7.3.3.5.	 any other non-cash item (which excludes the amortisation of intangible
assets and depreciation of tangible assets) that impacted the net profit after tax. 

 Voluntary prepayment and
cancellation 
  

	 	7.4.	 Voluntary cancellation 

 

	 	7.4.1.	 The Borrowers may cancel all or any of the Facility, subject to the giving of 10 (ten) Business Days’
notice to the Agent (or such shorter period as the Majority Lenders may agree). 

  

	 	7.4.2.	 Amounts so cancelled may not be re-instated. Any cancellation under
this clause 7.4 shall reduce the Commitments of the Lenders rateably. 

  

	 	7.4.3.	 For the avoidance of doubt the provisions of clause 7.4.1 shall not apply to a Refinancing.

  

	 	7.5.	 Voluntary Prepayment of Loans 

Subject to clause 7.6, the Borrower to which a Loan has been made may, if it gives the Agent not less than 3 (three) Business Days’ prior
notice (or such shorter period as the Majority Lenders may agree), prepay the whole or any part of a Loan (but if in part, being an amount that reduces the Loan by a minimum amount of US$10 000 000 (US dollars ten million)). 

  
 30 

	 	7.6.	 Voluntary Prepayment and Cancellation: Permitted Refinancing 

The Borrowers may, on not less than 10 (ten) Business Days’ prior notice to the Agent (or such shorter period as the Agent may agree),
prepay all or part of the outstanding Loans in respect of the Facility at that time utilising the proceeds raised by any Borrower pursuant to a Permitted Refinancing and the Facility (in whole or part) shall be cancelled to the extent of that
prepayment. Such notice shall specify the date on which the Borrowers intend to prepay the outstanding Loans in full or part and the delivery of such notice shall oblige the Borrowers to prepay the outstanding Loans in full or in part and to cancel
the Facility (or the applicable portion thereof) on such date. 
  

	 	7.7.	 Right of repayment and cancellation in relation to a single Lender 

 

	 	7.7.1.	 If: 

  

	 	7.7.1.1.	 any sum payable to any Lender by an Obligor is required to be increased under clause 12.1.3 (Tax gross-up); or 

  

	 	7.7.1.2.	 any Lender claims indemnification from one or more of the Borrowers under clause 12.2 (Tax
indemnity) or clause 13.1 (Increased costs), 

 the Borrowers may, whilst (in the case of clauses 7.7.1.1
and 7.7.1.2 above) the circumstance giving rise to the requirement for that increase or indemnification continues, give the Agent notice of cancellation of the Commitment of that Lender and their intention to procure the repayment of that
Lender’s participation in the Loans. 
  

	 	7.7.2.	 On receipt of a notice of cancellation referred to in clause 7.7.1 above, the Commitment of that Lender shall
immediately be reduced to zero whereupon the Total Commitments shall be reduced by the same amount. 

  

	 	7.7.3.	 On the last day of each Interest Period which ends after the Borrowers have given notice of cancellation under
clause 7.7.1 above (or, if earlier, the date specified by the Borrowers in that notice), each Borrower to which a Loan is outstanding shall repay that Lender’s participation in that Loan. 

 

	 	7.8.	 Restrictions 

  

	 	7.8.1.	 Any notice of cancellation or prepayment given by any Party under this clause 7 shall be irrevocable and,
unless a contrary indication appears in this Agreement, shall specify the date or dates upon which the relevant cancellation or prepayment is to be made and the amount of that cancellation or prepayment. 

  
 31 

	 	7.8.2.	 Save as provided for elsewhere in this Agreement, any prepayment under this Agreement shall be made together
with accrued interest on the amount prepaid and, subject to any Break Costs, without premium or penalty. 

  

	 	7.8.3.	 Unless a contrary indication appears in this Agreement any part of any Loan which is prepaid may be reborrowed
in accordance with the terms of this Agreement. 

  

	 	7.8.4.	 The Borrowers shall not repay or prepay all or any part of the Loans or cancel all or any part of the
Commitments except at the times and in the manner expressly provided for in this Agreement. 

  

	 	7.8.5.	 No amount of the Total Commitments cancelled under this Agreement may be subsequently reinstated.

  

	 	7.8.6.	 At the end of the Availability Period, the Total Commitments shall be reduced to zero. 

 

	 	7.8.7.	 If the Agent receives a notice under this clause 7 it shall promptly forward a copy of that notice to either
the Borrowers or the affected Lender, as appropriate. 

  

	8.	 INTEREST 

  

	 	8.1.	 Calculation of interest 

 

	 	8.1.1.	 The rate of interest on each Loan for each Interest Period is the percentage rate per annum which is the
aggregate of the applicable: 

  

	 	8.1.1.1.	 Margin; and 

  

	 	8.1.1.2.	 LIBOR, 

(together the “Interest Rate”). 
  

	 	8.1.2.	 Interest will accrue on the Loans outstanding at the Interest Rate and be calculated on the basis of the actual
number of days elapsed in a year of 360 (three hundred and sixty) days. 

  
 32 

	 	8.2.	 Payment of interest 

Each Borrower to which a Loan has been made shall pay accrued interest on that Loan in arrears on the last day of each Interest Period (and,
if the Interest Period is longer than six Months, on the dates falling at six Monthly intervals after the first day of the Interest Period). 
  

	 	8.3.	 Default interest 

 

	 	8.3.1.	 If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall
accrue on the overdue amount from the due date up to the date of actual payment (both before and after judgment) at a rate which, subject to clause 8.3.2 below, is 2% (two) percent higher than the rate which would have been payable if the overdue
amount had, during the period of non-payment, constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any
interest accruing under this clause 8.3 shall be immediately payable by the Obligor on demand by the Agent. 

  

	 	8.3.2.	 If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of
an Interest Period relating to that Loan: 

  

	 	8.3.2.1.	 the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the
current Interest Period relating to that Loan; and 

  

	 	8.3.2.2.	 the rate of interest applying to the overdue amount during that first Interest Period shall be 2% (two percent)
higher than the rate which would have applied if the overdue amount had not become due. 

  

	 	8.3.3.	 Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end
of each Interest Period applicable to that overdue amount but will remain immediately due and payable. 

  

	 	8.4.	 Notification of rates of interest 

The Agent shall promptly notify the Lenders and the relevant Borrower of the determination of a rate of interest under this Agreement. 

  
 33 

	9.	 INTEREST PERIODS 

 

	 	9.1.	 Selection of Interest Periods 

 

	 	9.1.1.	 A Borrower may select an Interest Period for a Loan in the Utilisation Request for that Loan.

  

	 	9.1.2.	 Subject to this clause 9, a Borrower may select an Interest Period of 1 (one), 2 (two), 3 (three) or 6 (six)
Months or any other period agreed between the Borrower and the Agent (acting on the instructions of all the Lenders). 

  

	 	9.1.3.	 An Interest Period for a Loan shall not extend beyond the Final Maturity Date. 

 

	 	9.1.4.	 Each Interest Period for a Loan shall start on the Utilisation Date for that Loan. 

 

	 	9.1.5.	 A Loan has one Interest Period only. 

 

	 	9.2.	 Non-Business Days 

If an Interest Period would otherwise end on a day which is not a Business Day, that Interest Period will instead end on the next Business Day
in that calendar Month (if there is one) or the preceding Business Day (if there is not). 
  

	10.	 CHANGES TO THE CALCULATION OF INTEREST 

 

	 	10.1.	 Absence of quotations 

Subject to clause 10.2 (Market disruption), if LIBOR is to be determined by reference to the Reference Banks but a Reference
Bank does not supply a quotation by the Specified Time on the Quotation Day, the applicable LIBOR shall be determined on the basis of the quotations of the remaining Reference Banks. 

 

	 	10.2.	 Market disruption 

 

	 	10.2.1.	 If a Market Disruption Event occurs in relation to a Loan for any Interest Period, then the rate of interest on
each Lender’s share of that Loan for the Interest Period shall be the percentage rate per annum which is the sum of: 

  

	 	10.2.1.1.	 the Margin; and 

  
 34 

	 	10.2.1.2.	 the rate notified to the Agent by that Lender as soon as practicable and in any event not later than 5 (five)
Business Days before interest is due to be paid in respect of that Interest Period (provided that if such Lender is unable to notify the Agent of such rate not later than 5 (five) Business Days before interest is due to be paid in respect of that
Interest Period, it shall do so before interest is due to be paid in respect of that Interest Period), to be that which expresses as a percentage rate per annum the cost to that Lender of funding its participation in that Loan from whatever source
it may reasonably select. 

  

	 	10.2.2.	 In this Agreement Market Disruption Event means: 

 

	 	10.2.2.1.	 at or about noon on the Quotation Day for the relevant Interest Period the Screen Rate is not available and
none or only one of the Reference Banks supplies a rate to the Agent to determine LIBOR for dollars and for the relevant Interest Period; or 

  

	 	10.2.2.2.	 before close of business in London on the Quotation Day for the relevant Interest Period, the Agent receives
notifications from a Lender or Lenders that the cost to it of obtaining matching deposits in the Relevant Interbank Market would be in excess of LIBOR. 

  

	 	10.3.	 Alternative basis of interest or funding 

 

	 	10.3.1.	 If a Market Disruption Event occurs and the Agent or the Borrowers so require, the Agent and the Borrowers
shall enter into negotiations (for a period of not more than 30 (thirty) days) with a view to agreeing a substitute basis for determining the rate of interest. 

 

	 	10.3.2.	 Any alternative basis agreed pursuant to clause 10.3.1 above shall, with the prior consent of all the Lenders,
be binding on all Parties. 

  

	 	10.4.	 Break Costs 

  

	 	10.4.1.	 Each Borrower shall, within 3 (three) Business Days of demand by a Finance Party, pay to that Finance Party its
Break Costs attributable to all or any part of a Loan or Unpaid Sum being paid by that Borrower on a day other than the last day of an Interest Period for that Loan or Unpaid Sum. 

  
 35 

	 	10.4.2.	 Each Lender shall, as soon as reasonably practicable after a demand by the Agent, provide a certificate
confirming the amount of its Break Costs for any Interest Period in which they accrue. 

  

	11.	 FEES 

  

	 	11.1.	 Commitment fee 

 

	 	11.1.1.	 The Borrowers shall pay to the Agent (for the account of each Lender) a fee in dollars which shall be computed
at the rate of 140 (one hundred and forty) basis points per annum on that Lender’s Available Commitment during the Availability Period. 

  

	 	11.1.2.	 The accrued commitment fee is payable on the last day of each successive period of three Months which ends
during the Availability Period, on the last day of the Availability Period and, if cancelled in full, on the cancelled amount of the relevant Lender’s Commitment at the time the cancellation is effective. 

 

	12.	 TAX GROSS UP AND INDEMNITIES  

 

	 	12.1.	 Tax gross-up 

 

	 	12.1.1.	 Each Obligor shall make all payments to be made by it without any Tax Deduction, unless a Tax Deduction is
required by law. 

  

	 	12.1.2.	 Each Borrower shall promptly upon becoming aware that it or an Obligor must make a Tax Deduction (or that there
is any change in the rate or the basis of a Tax Deduction) notify the Agent accordingly. Similarly, a Lender shall notify the Agent on becoming so aware in respect of a payment payable to that Lender. If the Agent receives such notification from a
Lender it shall notify the Borrowers and, if applicable, that Obligor. 

  

	 	12.1.3.	 If a Tax Deduction is required by law to be made by an Obligor, the amount of the payment due from that Obligor
shall be increased to an amount which (after making any Tax Deduction) leaves an amount equal to the payment which would have been due if no Tax Deduction had been required. 

 

	 	12.1.4.	 If an Obligor is required to make a Tax Deduction, that Obligor shall make that Tax Deduction and any payment
required in connection with that Tax Deduction within the time allowed and in the minimum amount required by law. 

  
 36 

	 	12.1.5.	 Within 30 (thirty) days of making either a Tax Deduction or any payment required in connection with that Tax
Deduction, the Obligor making that Tax Deduction shall deliver to the Agent for the Finance Party entitled to the payment evidence reasonably satisfactory to that Finance Party that the Tax Deduction has been made or (as applicable) any appropriate
payment paid to the relevant taxing authority. 

  

	 	12.2.	 Tax indemnity 

 

	 	12.2.1.	 The Borrowers shall (within 3 (three) Business Days of demand by the Agent) pay to a Finance Party an amount
equal to the loss, liability or cost which that Finance Party determines (in its absolute discretion) will be or has been (directly or indirectly) suffered for or on account of Tax by that Finance Party in respect of a Finance Document.

  

	 	12.2.2.	 Clause 12.2.1 above shall not apply: 

 

	 	12.2.2.1.	 with respect to any Tax assessed on a Finance Party: 

 

	 	12.2.2.1.1.	 under the law of the jurisdiction in which that Finance Party is incorporated or, if different, the
jurisdiction (or jurisdictions) in which that Finance Party is treated as resident for tax purposes; or 

  

	 	12.2.2.1.2.	 under the law of the jurisdiction in which that Finance Party’s Facility Office is located in respect of
amounts received or receivable in that jurisdiction, 

 if that Tax is imposed on or calculated by reference to the net
income received or receivable (but not any sum deemed to be received or receivable) by that Finance Party; or 
  

	 	12.2.2.2.	 to the extent a loss, liability or cost is compensated for by an increased payment under clause 12.1 (Tax gross-up). 

  

	 	12.2.3.	 A Finance Party making, or intending to make a claim under clause 12.2.1 above shall promptly notify the Agent
of the event which will give, or has given, rise to the claim, following which the Agent shall notify the Borrowers. 

  
 37 

	 	12.2.4.	 A Finance Party shall, on receiving a payment from an Obligor under this clause 12.2, notify the Agent.

  

	 	12.3.	 Tax Credit 

If an Obligor makes a Tax Payment and the relevant Finance Party determines (in its absolute discretion) that: 

 

	 	12.3.1.	 a Tax Credit is attributable either to an increased payment of which that Tax Payment forms part, or to that
Tax Payment; and 

  

	 	12.3.2.	 that Finance Party has obtained, utilised and retained that Tax Credit, the Finance Party shall pay an amount
to such Obligor which that Finance Party determines (in its absolute discretion) will leave it (after that payment) in the same after-Tax position as it would have been in had the Tax Payment not been required
to be made by such Obligor. 

  

	 	12.4.	 Stamp taxes 

The Borrowers shall pay and, within 3 (three) Business Days of demand, indemnify each Finance Party against any cost, loss or liability that
Finance Party incurs in relation to all stamp duty, registration and other similar Taxes payable in respect of any Finance Document. 
  

	 	12.5.	 Value added tax 

 

	 	12.5.1.	 All amounts set out, or expressed to be payable under a Finance Document by any Party to a Finance Party which
(in whole or in part) constitute the consideration for VAT purposes shall be deemed to be exclusive of any VAT which is chargeable on such supply, and accordingly, subject to clause 12.5.3 below, if VAT is chargeable on any supply made by any
Finance Party to any Party under a Finance Document, that Party shall pay to the Finance Party (in addition to and at the same time as paying the consideration) an amount equal to the amount of the VAT (and such Finance Party shall promptly provide
an appropriate VAT invoice to such Party). 

  

	 	12.5.2.	 If VAT is chargeable on any supply made by any Finance Party (the Supplier) to any other Finance Party
(the Recipient) under a Finance Document, and any Party (the Relevant Party) is required by the terms of any Finance Document to pay an amount equal to the consideration for such supply to the Supplier (rather than being
required to reimburse the 

  
 38 

	 	
Recipient in respect of that consideration), such Party shall also pay to the Supplier (in addition to and at the same time as paying such amount) an amount equal to the amount of such VAT. The
Recipient will promptly pay to the Relevant Party an amount equal to any credit or repayment from the relevant tax authority which it reasonably determines relates to the VAT chargeable on that supply. 

 

	 	12.5.3.	 Where a Finance Document requires any Party to reimburse a Finance Party for any costs or expenses, that Party
shall also at the same time pay and indemnify the Finance Party against all VAT incurred by the Finance Party in respect of the costs or expenses to the extent that the Finance Party reasonably determines that neither it nor any other member of any
group of which it is a member for VAT purposes is entitled to credit or repayment from the relevant tax authority in respect of the VAT. 

  

	13.	 INCREASED COSTS 

 

	 	13.1.	 Increased costs 

 

	 	13.1.1.	 Subject to clause 13.3 (Exceptions) the Borrowers shall, within 5 (five) Business Days of a demand by
the Agent, pay for the account of a Finance Party the amount of any Increased Costs incurred by that Finance Party or any of its Affiliates as a result of (i) the introduction of or any change in (or in the interpretation, administration or
application of) any law or regulation or (ii) compliance with any law or regulation made after the date of this Agreement. 

  

	 	13.1.2.	 In this Agreement “Increased Costs” means: 

 

	 	13.1.2.1.	 a reduction in the rate of return from the Facility or on a Finance Party’s (or its Affiliate’s)
overall capital; 

  

	 	13.1.2.2.	 an additional or increased cost; or 

 

	 	13.1.2.3.	 a reduction of any amount due and payable under any Finance Document, 

which is incurred or suffered by a Finance Party or any of its Affiliates to the extent that it is attributable to that Finance Party having
entered into its Commitment or funding or performing its obligations under any Finance Document. 

  
 39 

	 	13.2.	 Increased cost claims 

 

	 	13.2.1.	 A Finance Party intending to make a claim pursuant to clause 13.1 (Increased costs) shall notify the
Agent of the event giving rise to the claim, following which the Agent shall promptly notify the Borrowers. 

  

	 	13.2.2.	 Each Finance Party shall, as soon as practicable after a demand by the Agent, provide a certificate confirming
the amount of its Increased Costs. 

  

	 	13.3.	 Exceptions 

Clause 13.1 (Increased costs) does not apply to the extent any Increased Cost is: 

 

	 	13.3.1.	 attributable to a Tax Deduction required by law to be made by an Obligor; 

 

	 	13.3.2.	 compensated for by clause 12.2 (Tax indemnity) (or would have been compensated for under clause 12.2
(Tax indemnity) but was not so compensated solely because any of the exclusions in clause 12.2.2 (Tax indemnity) applied); or 

  

	 	13.3.3.	 attributable to the wilful breach by the relevant Finance Party or its Affiliates of any law or regulation.

  

	14.	 OTHER INDEMNITIES 

 

	 	14.1.	 Currency indemnity 

 

	 	14.1.1.	 If any sum due from an Obligor under the Finance Documents (a Sum), or any order, judgment or award
given or made in relation to a Sum, has to be converted from the currency (the First Currency) in which that Sum is payable into another currency (the Second Currency) for the purpose of: 

 

	 	14.1.1.1.	 making or filing a claim or proof against that Obligor; or 

 

	 	14.1.1.2.	 obtaining or enforcing an order, judgment or award in relation to any litigation or arbitration proceedings,

 that Obligor shall as an independent obligation, within 5 (five) Business Days of demand, indemnify each Finance Party
to whom that Sum is due against any cost, loss or liability arising out of or as a result of the conversion including any discrepancy between (A) the rate of exchange used to convert that Sum from the First Currency into the Second Currency and
(B) the rate or rates of exchange available to that person at the time of its receipt of that Sum. 

  
 40 

	 	14.1.2.	 Each Obligor waives any right it may have in any jurisdiction to pay any amount under the Finance Documents in
a currency or currency unit other than that in which it is expressed to be payable. 

  

	 	14.2.	 Other indemnities 

The Borrowers shall (or shall procure that an Obligor will), within 5 (five) Business Days of demand, indemnify each Finance Party against any
cost, loss or liability incurred by that Finance Party as a result of: 
  

	 	14.2.1.	 the occurrence of any Event of Default; 

 

	 	14.2.2.	 a failure by an Obligor to pay any amount due under a Finance Document on its due date, including without
limitation, any cost, loss or liability arising as a result of clause 27 (Sharing Among the Finance Parties); 

  

	 	14.2.3.	 funding, or making arrangements to fund, its participation in a Loan requested by a Borrower in a Utilisation
Request but not made by reason of the operation of any one or more of the provisions of this Agreement (other than by reason of default or negligence by that Finance Party alone); or 

 

	 	14.2.4.	 a Loan (or part of a Loan) not being prepaid in accordance with a notice of prepayment given by a Borrower.

  

	 	14.3.	 Indemnity to the Agent 

The Borrowers shall promptly indemnify the Agent against any cost, loss or liability incurred by the Agent (acting reasonably) as a result of:

  

	 	14.3.1.	 investigating any event which it reasonably believes is a Default; or 

 

	 	14.3.2.	 acting or relying on any notice, request or instruction which it reasonably believes to be genuine, correct and
appropriately authorised. 

  

	15.	 MITIGATION BY THE LENDERS  

 

	 	15.1.	 Mitigation 

  

	 	15.1.1.	 Each Finance Party shall, in consultation with the Borrowers, take all reasonable steps to mitigate any
circumstances which arise and which would result in any amount becoming payable under or pursuant to, or cancelled pursuant to, any of clause 7.1 (Illegality), clause 12 (Tax Gross-up and
Indemnities) or clause 13 (Increased Costs) including (but not limited to) transferring its rights and obligations under the Finance Documents to another Affiliate or Facility Office. 

  
 41 

	 	15.1.2.	 Clause 15.1.1 above does not in any way limit the obligations of any Obligor under the Finance Documents.

  

	 	15.2.	 Limitation of liability 

 

	 	15.2.1.	 The Borrowers shall indemnify each Finance Party for all costs and expenses reasonably incurred by that Finance
Party as a result of steps taken by it under clause 15.1 (Mitigation). 

  

	 	15.2.2.	 A Finance Party is not obliged to take any steps under clause 15.1 (Mitigation) if, in the opinion of
that Finance Party (acting reasonably), to do so might be prejudicial to it. 

  

	16.	 COSTS AND EXPENSES 

 

	 	16.1.	 Transaction expenses 

The Borrower shall, promptly within 5 (five) Business Days of demand, pay the Agent the amount of all costs and expenses (including legal fees
but subject to any agreed cap and inclusive of VAT or similar taxes) reasonably incurred by any of them in connection with the negotiation, preparation, printing, execution and syndication of: 

 

	 	16.1.1.	 this Agreement and any other documents referred to in this Agreement; and 

 

	 	16.1.2.	 any other Finance Documents executed after the date of this Agreement. 

 

	 	16.2.	 Amendment costs 

If (a) an Obligor requests an amendment, waiver or consent or (b) an amendment is required pursuant to clause 28.9 (Change of
currency), the Borrowers shall, within 5 (five) Business Days of demand, reimburse each of the Agent for the amount of all costs and expenses (including legal fees) reasonably incurred by the Agent in responding to, evaluating, negotiating or
complying with that request or requirement. 
  

	 	16.3.	 Enforcement costs 

The Borrowers shall, within 5 (five) Business Days of demand, pay to each Finance Party the amount of all costs and expenses (including legal
fees) incurred by that Finance Party (acting reasonably in the case of (ii)) in connection with (i) the enforcement of, or (ii) the preservation of any rights under any Finance Document. 

  
 42 

	17.	 GUARANTEE AND INDEMNITY  

 

	 	17.1.	 Guarantee and indemnity 

Each Guarantor irrevocably and unconditionally jointly and severally: 

 

	 	17.1.1.	 guarantees to each Finance Party punctual performance by each Borrower of all that Borrower’s obligations
under the Finance Documents; 

  

	 	17.1.2.	 undertakes with each Finance Party that whenever a Borrower does not pay any amount when due under or in
connection with any Finance Document, that Guarantor shall immediately on demand pay that amount as if it was the principal obligor; and 

  

	 	17.1.3.	 indemnifies each Finance Party immediately on demand (and shall make the relevant payment within 5 (five)
Business Days of such demand) against any cost, loss or liability suffered by that Finance Party if any obligation guaranteed by it is or becomes unenforceable, invalid or illegal. The amount of the cost, loss or liability shall be equal to the
amount which that Finance Party would otherwise have been entitled to recover. 

 This guarantee is in addition to and is
not in any way prejudicial to any other guarantee now or subsequently held by and Finance Party. 
  

	 	17.2.	 Continuing guarantee 

This guarantee is a continuing guarantee and will extend to the ultimate balance of sums payable by any Obligor under the Finance Documents,
regardless of any intermediate payment or discharge in whole or in part. 
  

	 	17.3.	 Reinstatement 

If any payment by an Obligor or any discharge given by a Finance Party (whether in respect of the obligations of any Obligor or any security
for those obligations or otherwise) is avoided or reduced as a result of insolvency or any similar event: 
  

	 	17.3.1.	 the liability of each Obligor shall continue as if the payment, discharge, avoidance or reduction had not
occurred; and 

  

	 	17.3.2.	 each Finance Party shall be entitled to recover the value or amount of that security or payment from each
Obligor, as if the payment, discharge, avoidance or reduction had not occurred. 

  
 43 

	 	17.4.	 Waiver of defences 

The obligations of each Guarantor under this clause 17 will not be affected by an act, omission, matter or thing which, but for this clause,
would reduce, release or prejudice any of its obligations under this clause 17 (without limitation and whether or not known to it or any Finance Party) including: 
  

	 	17.4.1.	 any time, waiver or consent granted to, or composition with, any Obligor or other person;

  

	 	17.4.2.	 the release of any other Obligor or any other person under the terms of any composition or arrangement with any
creditor of any member of the Group; 

  

	 	17.4.3.	 the taking, variation, compromise, exchange, renewal or release of, or refusal or neglect to perfect, take up
or enforce, any rights against, or security over assets of, any Obligor or other person or any non-presentation or non-observance of any formality or other requirement
in respect of any instrument or any failure to realise the full value of any security; 

  

	 	17.4.4.	 any incapacity or lack of power, authority or legal personality of or dissolution or change in the members or
status of an Obligor or any other person; 

  

	 	17.4.5.	 any amendment, novation, supplement, extension, restatement (however fundamental) or replacement of a Finance
Document or any other document or security; 

  

	 	17.4.6.	 any unenforceability, illegality or invalidity of any obligation of any person under any Finance Document or
any other document or security; or 

  

	 	17.4.7.	 any insolvency or similar proceedings. 

 

	 	17.5.	 Immediate recourse 

Each Guarantor waives any right it may have of first requiring any Finance Party (or any trustee or agent on its behalf) to proceed against or
enforce any other rights or security or claim payment from any person before claiming from that Guarantor under this clause 17. This waiver applies irrespective of any law or any provision of a Finance Document to the contrary. 

  
 44 

	 	17.6.	 Appropriations 

Until all amounts which may be or become payable by the Obligors under or in connection with the Finance Documents have been irrevocably paid
in full, each Finance Party (or any trustee or agent on its behalf) may: 
  

	 	17.6.1.	 refrain from applying or enforcing any other moneys, security or rights held or received by that Finance Party
(or any trustee or agent on its behalf) in respect of those amounts, or apply and enforce the same in such manner and order as it sees fit (whether against those amounts or otherwise) and no Guarantor shall be entitled to the benefit of the same;
and 

  

	 	17.6.2.	 hold in an interest-bearing suspense account any moneys received from any Guarantor or on account of any
Guarantor’s liability under this clause 17. 

  

	 	17.7.	 Deferral of Guarantors’ rights 

Until all amounts which may be or become payable by the Obligors under or in connection with the Finance Documents have been irrevocably paid
in full and unless the Agent otherwise directs, no Guarantor will exercise any rights which it may have by reason of performance by it of its obligations under the Finance Documents: 

 

	 	17.7.1.	 to be indemnified by an Obligor; 

 

	 	17.7.2.	 to claim any contribution from any other guarantor of any Obligor’s obligations under the Finance
Documents; and/or 

  

	 	17.7.3.	 to take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any rights of the
Finance Parties under the Finance Documents or of any other guarantee or security taken pursuant to, or in connection with, the Finance Documents by any Finance Party. 

 

	 	17.8.	 Release of Guarantors’ rights of contribution 

If any Guarantor (a Retiring Guarantor) ceases to be a Guarantor in accordance with the terms of the Finance Documents for the purpose
of any sale or other disposal of that Retiring Guarantor then on the date such Retiring Guarantor ceases to be a Guarantor: 
  

	 	17.8.1.	 that Retiring Guarantor is released by each other Guarantor from any liability (whether past, present or future
and whether actual or contingent) to make a contribution to any other Guarantor arising by reason of the performance by any other Guarantor of its obligations under the Finance Documents; and 

  
 45 

	 	17.8.2.	 each other Guarantor waives any rights it may have by reason of the performance of its obligations under the
Finance Documents to take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any rights of the Finance Parties under any Finance Document or of any other security taken pursuant to, or in connection with, any Finance
Document where such rights or security are granted by or in relation to the assets of the Retiring Guarantor. 

  

	18.	 REPRESENTATIONS 

Each Obligor makes the representations and warranties set out in this clause 18 to each Finance Party. 

 

	 	18.1.	 Status 

  

	 	18.1.1.	 It is a limited liability company, duly incorporated and validly existing under the law of its jurisdiction of
incorporation. 

  

	 	18.1.2.	 It has the power to own its assets and carry on its business as it is being conducted or is contemplated to be
conducted. 

  

	 	18.2.	 Power and authority 

It has the power to enter into and perform, and has taken all necessary action to authorise its entry into, and performance of, the Finance
Documents to which it is party and the transactions contemplated by those Finance Documents. 
  

	 	18.3.	 Binding obligations 

The obligations expressed to be assumed by it in each Finance Document to which it is a party are, subject to any general principles of law as
at the date of this Agreement limiting its obligations, which are specifically referred to in any legal opinion delivered pursuant to clause 4 (Conditions of Utilisation) or clause 24 (Changes to the Obligors), legal,
valid, binding and enforceable obligations. 
  

	 	18.4.	 Non-conflict with other obligations 

The entry into and performance by it of, and the transactions contemplated by, the Finance Documents to which it is a party do not and will
not conflict with: 
  

	 	18.4.1.	 any law applicable to it; 

  
 46 

	 	18.4.2.	 its Constitutional Documents; or 

 

	 	18.4.3.	 any material agreement or instrument binding upon it or any of its assets. 

 

	 	18.5.	 Authorisations 

All authorisations required: 
  

	 	18.5.1.	 to enable it lawfully to enter into, exercise its rights and comply with its obligations under the Finance
Documents to which it is a party and to ensure that the obligations expressed to be assumed by it thereunder are legal, valid, binding and enforceable; and 

  

	 	18.5.2.	 to make the Finance Documents to which it is a party admissible in evidence in its jurisdiction of
incorporation, have been obtained or effected and are in full force and effect. 

  

	 	18.6.	 Governing Law and Enforcement 

Subject to any general principles of law as at the date of this Agreement set out in any legal opinion delivered pursuant to clause 4
(Conditions of Utilisation) or clause 24 (Changes to the Obligors): 
  

	 	18.6.1.	 the choice of the English law as the governing law of the Finance Documents will be recognised and enforced in
its jurisdiction of incorporation; and 

  

	 	18.6.2.	 any judgment obtained in England in relation to a Finance Document will be recognised and enforced in its
jurisdiction of incorporation, subject to registration of such judgment in Ghana within 6 (six) years of it being granted. 

  

	 	18.7.	 Deduction of Tax 

Other than deductions in respect of withholding tax, it is not required under the law of its jurisdiction of incorporation to make any
deduction for or on account of Tax from any payment it may make under any Finance Document. 
  

	 	18.8.	 No default 

  

	 	18.8.1.	 No Default is continuing or might reasonably be expected to result from the making of any Utilisation.

  
 47 

	 	18.8.2.	 It is not, nor is it likely to be as a result of entering into and performing its obligations under the Finance
Documents, in violation of any law or in breach of or in default under any agreement to which it is a party or which is binding on it or any of its assets to an extent or in a manner which could reasonably be expected to have a Material Adverse
Effect. 

  

	 	18.9.	 No misleading information 

 

	 	18.9.1.	 To the best of its knowledge and belief (having made due enquiry), all written information supplied by it to
the Finance Parties and the Agent in connection with this Agreement was true and accurate in all material respects as at the date it was given and was not misleading in any material respect at such date. 

 

	 	18.9.2.	 It has not knowingly withheld any information which, if disclosed, could reasonably be expected materially and
adversely to affect the decision of the Finance Parties in considering whether or not to provide finance to each Borrower. 

  

	 	18.10.	 Pari passu ranking 

Its payment obligations under the Finance Documents rank at least pari passu with the claims of all its other unsecured and
unsubordinated creditors, except for obligations mandatorily preferred by law applying to companies generally in the jurisdiction of its incorporation. 
  

	 	18.11.	 No proceedings pending or threatened 

No litigation, arbitration or administrative proceedings of or before any court, arbitral body or government agency which, if adversely
determined, might reasonably be expected to have a Material Adverse Effect have (to the best of its knowledge and belief) been started or threatened against it. 
  

	 	18.12.	 No winding-up 

No Material Group Company has taken any corporate action, nor have any other steps been taken or legal proceedings started or (to the best of
its knowledge and belief, after due enquiry) threatened against any Material Group Company, for its winding-up, dissolution, administration or re-organisation or for the
enforcement of any Encumbrance over all or any of its revenues or assets or for the appointment of a receiver, administrator, administrative receiver, conservator, custodian, trustee or similar officer of it or of all or any of its assets which
could reasonably be expected to have a Material Adverse Effect. 

  
 48 

	 	18.13.	 No encumbrances 

 

	 	18.13.1.	 No Encumbrance exists over all or any of the assets of any Material Group Company except for Permitted
Encumbrances. 

  

	 	18.13.2.	 No Encumbrance would arise as a result of the execution of and performance of its rights and obligations under
the Finance Documents, save for Permitted Encumbrances. 

  

	 	18.14.	 Assets 

It and each Material Group Company has good title to or validly leases or licenses all of the assets necessary and has all consents and/or
authorisations necessary to carry on its business as conducted to the extent that failure to comply with this clause 18.14 could reasonably be expected to have a Material Adverse Effect. 

 

	 	18.15.	 Insurance 

Each Material Group Company maintains insurances on and in relation to its business and assets against those risks and to the extent as is
usual for companies in the jurisdiction in which it conducts its business carrying on substantially similar business in such jurisdiction. 
  

	 	18.16.	 Environmental Claims 

No Environmental Claim (not of a frivolous or vexatious nature) has been commenced or (to the best of its knowledge and belief) is threatened
against any Material Group Company where that claim would be reasonably likely, if determined against that Material Group Company, to have a Material Adverse Effect. 
  

	 	18.17.	 No Material Adverse Effect 

There has been no change in the business, condition (financial or otherwise), operations, performance, properties or prospects of the Obligors
or the Group (taken as a whole) since the date of the Original Financial Statements which could reasonably be expected to have a Material Adverse Effect. 

  
 49 

	 	18.18.	 Tax 

It is not in breach of any of the material provisions of any law relating to the conduct of its business and activities, including, but not
limited to, any Tax law or regulations and no claims in excess of US$5 000 000 (US dollars five million) by any relevant governmental authority or body is pending or (to the best of its knowledge, having made diligent inquiry) threatened against it,
except to the extent that: 
  

	 	18.18.1.	 payment is being contested in good faith; 

 

	 	18.18.2.	 it has maintained adequate reserves for such claims; and 

 

	 	18.18.3.	 payment can be lawfully withheld. 

 

	 	18.19.	 Sanctions 

Neither the Obligors nor any Subsidiary of the Obligors, nor any director, employee or officer of the Obligors or any Subsidiary of the
Obligors, nor to the Obligors’ actual knowledge and belief, any agent, affiliate or representative of the Obligors or any Subsidiary is an individual or entity currently the subject or target of any Sanctions (in place as at the Amendment and
Restatement Signature Date) nor is the Obligors or any Subsidiary of the Obligors located, organised, resident or operating in any Sanctioned Country (designated as such as at the Amendment and Restatement Signature Date). 

 

	 	18.20.	 Anti-corruption law 

Each Material Group Company has conducted its businesses in compliance with the Applicable Anti-Corruption Laws and has instituted policies
and procedures designed to promote and achieve compliance with such laws. 
  

	 	18.21.	 Times when representation made 

 

	 	18.21.1.	 All the representations and warranties in this clause 18 are made by each Obligor on the Signature Date (other
than clause 18.9.1 (No misleading information) which is deemed to be made on the date the Information is provided by the relevant Obligor). 

 

	 	18.21.2.	 The Repeating Representations are deemed to be made by each Obligor (by reference to the facts and
circumstances then existing) on the date of each Utilisation Request and the first day of each Interest Period. 

  

	 	18.22.	 Reliance 

The Finance Parties have entered into the Finance Documents to which each of them is a party on the strength of, and relying on, the
representations and warranties set out in clause 18, each of which shall be deemed to be a separate representation and warranty given without prejudice to any other representation or warranty and deemed to be a material representation inducing the
Finance Parties to enter into the Finance Documents to which each of them is party. 

  
 50 

	19.	 UNDERTAKINGS 

The undertakings in this clause 19 are given in favour of each Finance Party and remain in force from the Signature Date for so long as any
amount is outstanding under the Finance Documents or any Commitment is in force. 
  

	 	19.1.	 Financial statements 

The Borrowers shall supply to the Agent: 
  

	 	19.1.1.	 as soon as the same become available, but in any event within 120 (one hundred and twenty) days after the end
of each of its Financial Years, the audited consolidated financial statements of each Borrower for that Financial Year; and 

  

	 	19.1.2.	 as soon as the same become available, but in any event within 60 (sixty) days after the first 6 (six) months of
its Financial Years the unaudited consolidated financial statements of each Borrower for the first 6 (six) month period of that Financial Year. 

  

	 	19.2.	 Compliance Certificate 

 

	 	19.2.1.	 The Borrowers shall supply to the Agent, with each set of consolidated financial statements delivered pursuant
to clauses 19.1.1 and 19.1.2 (Financial Statements), a single Compliance Certificate executed by both Borrowers setting out (in reasonable detail) computations as to compliance with clause 20 (Financial Covenants) as at the date as at
which those financial statements were drawn up. 

  

	 	19.2.2.	 Each Compliance Certificate shall be signed by 2 (two) directors of the relevant Borrower and, if required to
be delivered with the audited consolidated financial statements delivered pursuant to clause 19.1.1 (Financial statements), the Lenders, acting reasonably, may require such Compliance Certificate to be signed by the Auditors.

  

	 	19.3.	 Requirements as to financial statements 

 

	 	19.3.1.	 Each set of financial statements delivered by a Borrower pursuant to clause 19.1 (Financial statements)
shall be certified by a director of the relevant company as fairly representing its financial condition as at the date as at which those financial statements were drawn up. 

  
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	 	19.3.2.	 Each Borrower shall procure that its set of financial statements delivered pursuant to clause 19.1
(Financial statements) is prepared in accordance with GAAP, the requirements of its jurisdiction of incorporation and accounting practices and financial reference periods consistent with those applied in the preparation of the Original
Financial Statements. 

  

	 	19.3.3.	 Clause 19.3.2 above shall not apply to the extent that, in relation to any sets of financial statements, the
relevant Borrower notifies the Agent that there has been a change in GAAP or the accounting practices or reference periods and its Auditors (in the case of its annual audited financial statements) or the Borrower (in the case of any of its other
financial statements) delivers to the Agent: 

  

	 	19.3.3.1.	 a description of any change necessary for those financial statements to reflect GAAP, accounting practices and
reference periods upon which the Original Financial Statements were prepared; and 

  

	 	19.3.3.2.	 sufficient information, in form and substance as may be reasonably required by the Agent, to enable the Agent
to determine whether clause 20 (Financial Covenants) has been complied with and make an accurate comparison between the financial position indicated in those financial statements and the Original Financial Statements. 

 

	 	19.3.4.	 If either Borrower notifies the Agent of a change in accordance with clause 19.3.3 above, then the Borrowers
and the Agent shall enter into negotiations in good faith with a view to agreeing: 

  

	 	19.3.4.1.	 whether or not the change might result in material alteration in the commercial effect of any of the terms of
this Agreement or any other Finance Document; and 

  

	 	19.3.4.2.	 if so, any amendments to this Agreement or any other Finance Document which may be necessary to ensure that the
change does not result in any material alteration in the commercial effect of those terms, and if any amendments are agreed they shall take effect and be binding on each of the Parties in accordance with their terms. 

  
 52 

	 	19.3.5.	 Any reference in this Agreement to “financial statements” shall be construed as a reference to those
financial statements as the same may be adjusted under this clause 19.3 to reflect the basis upon which the Original Financial Statements were prepared. 

  

	 	19.4.	 Access to records 

At any time after the occurrence of an Event of Default and for so long as it is continuing, upon the request of the Agent, or a Lender each
Obligor shall (at that Obligor’s expense) provide to the Agent or any of its representatives and professional advisors such access to that Obligor’s records (including its general ledger), books and assets as that person may require at
reasonable times and upon reasonable notice. 
  

	 	19.5.	 Information: miscellaneous 

Each Obligor shall supply to the Agent, if the Agent so requests: 
  

	 	19.5.1.	 all documents dispatched by that Obligor to its shareholders (or any class of them) or its creditors generally
at the same time as they are dispatched; 

  

	 	19.5.2.	 the details of any litigation, arbitration or administrative proceedings which are current, threatened (where
the relevant Obligor is aware of such, having made diligent inquiry) or pending against any member of the Group which, if adversely determined against it, would be reasonably likely to have a Material Adverse Effect; and 

 

	 	19.5.3.	 promptly, such further information (including an extract of its general ledger) regarding the financial
condition, business and operations of any Material Group Company as any Finance Party (through the Agent) may reasonably request. 

  

	 	19.6.	 Notification of default 

 

	 	19.6.1.	 Each Obligor shall notify the Agent of any Default (and the steps, if any, being taken to remedy it) promptly
upon becoming aware of its occurrence (unless that Obligor is aware that a notification has already been provided by another Obligor). 

  

	 	19.6.2.	 Promptly upon a request by the Agent, each Borrower shall supply to the Agent, a certificate signed by 2 (two)
of its directors or senior officers on its behalf certifying that no Default is continuing (or if a Default is continuing specifying the Default and the steps, if any, being taken to remedy it). 

  
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	 	19.7.	 Sanctions 

The Obligors shall not (and shall procure that no Subsidiary of the Obligors will): 

 

	 	19.7.1.	 knowingly use, contribute or otherwise make available the proceeds of the Facility for the purpose of financing
or making funds available directly; or 

  

	 	19.7.2.	 use, contribute or otherwise make available the proceeds of the Facility for the purpose of financing or making
funds available indirectly, 

 to any person which is the subject or target of any Sanctions or located in a Sanctioned
Country, to the extent such financing or provision of funds is prohibited by Sanctions. 
  

	 	19.8.	 “Know your customer” checks 

 

	 	19.8.1.	 If: 

  

	 	19.8.1.1.	 the introduction of or any change in (or in the interpretation, administration or application of) any law or
regulation made after the Signature Date; 

  

	 	19.8.1.2.	 any change in the status of an Obligor or the composition of the shareholders of an Obligor after the Signature
Date; or 

  

	 	19.8.1.3.	 proposed assignment or transfer by a Lender of any of its rights and obligations under this Agreement to a
party that is not a Lender prior to such assignment or transfer, 

 obliges the Agent or any Lender (or, in the case of
clause 19.8.1.3 above, any prospective new Lender) to comply with “know your customer” or similar identification procedures in circumstances where the necessary information is not already available to it, each Obligor shall promptly upon
the request of the Agent or any Lender supply, or procure the supply of, such documentation and other evidence as is reasonably requested by the Agent (for itself or on behalf of any Lender) or any Lender (for itself or, in the case of the event
described in clause 19.8.1.3 above, on behalf of any prospective new Lender) in order for the Agent, such Lender or, in the case of the event described in clause 19.8.1.3 above, any prospective new Lender to carry out and be satisfied it has
complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations pursuant to the transactions contemplated in the Finance Documents. 

  
 54 

	 	19.8.2.	 Each Lender shall promptly upon the request of the Agent supply, or procure the supply of, such documentation
and other evidence as is reasonably requested by the Agent (for itself) in order for the Agent to carry out and be satisfied it has complied with all necessary “know your customer” or other similar checks under all applicable laws and
regulations pursuant to the transactions contemplated in the Finance Documents. 

  

	 	19.8.3.	 Each of the Borrowers shall, by not less than 10 (ten) Business Days’ prior written notice to the Agent,
notify the Agent (which shall promptly notify the Lenders) of its intention to request that one of its Subsidiaries becomes an Additional Obligor pursuant to clause 24 (Changes to the Obligors). 

 

	 	19.8.4.	 Following the giving of any notice pursuant to clause 19.8.3 above, if the accession of such Additional Obligor
obliges the Agent or an Lender to comply with “know your customer” or similar identification procedures in circumstances where the necessary information is not readily available to it, the Borrowers shall promptly upon the request of the
Agent or any Lender supply, or procure the supply of, such documentation and other evidence as is reasonably requested by the Agent (for itself or on behalf of any Lender) or any Lender (for itself or on behalf of any prospective Lender) in order
for the Agent or such Lender or any prospective new Lender to carry out and be satisfied it has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations pursuant to the accession of
such Subsidiary to this Agreement as an Additional Obligor. 

  

	20.	 FINANCIAL COVENANTS  

 

	 	20.1.	 Financial definitions 

In this Agreement: 
  

	 	20.1.1.	 Consolidated EBITDA means, for any Measurement Period, (having reversed any entries made to
reflect fair value gains or losses on financial instruments which are undertaken in the normal course of business) the aggregate of the Borrowers Consolidated Profits Before Interest and Tax before any amount attributable to the amortisation of
intangible assets and depreciation of tangible assets and before any extraordinary items and after having excluded any inter-company items in respect of the consolidated position of each Borrower and after having eliminated the effect of any
inter-company transactions between the Borrowers; 

  
 55 

	 	20.1.2.	 Consolidated Net Borrowings means, at any time, the aggregate amount of all obligations of the
Group for or in respect of Indebtedness for Borrowed Money but excluding any such obligation to any Obligor, adjusted to take account of the aggregate amount of freely available cash and cash equivalents held by any member of the Group (and so that
no amount shall be included or excluded more than once); 

  

	 	20.1.3.	 Consolidated Net Finance Charges means, in respect of any Measurement Period, the aggregate
amount of the interest (including the interest element of leasing and hire purchase payments and capitalised interest), commission, fees, discounts and other finance payments payable by the Borrowers in respect of Indebtedness for Borrowed Money
after having excluded any inter-company payments of the same; 

  

	 	20.1.4.	 Consolidated Profits Before Interest and Tax means, in respect of any Measurement Period, the
consolidated net income of each Borrower before: 

  

	 	20.1.4.1.	 any provision on account of normal taxation and royalty taxation; and 

 

	 	20.1.4.2.	 any interest, commission, discounts or other fees incurred or payable, received or receivable by any member of
the Group in respect of Indebtedness for Borrowed Money; and 

  

	 	20.1.5.	 Consolidated Tangible Net Worth means, at any time, the “Shareholders’ Equity”, as
reported in the “Group Statement of Changes in Shareholders’ Equity” in the last set of annual or semi-annual consolidated financial statements of the Borrowers delivered to the Lenders pursuant to this Agreement;

  

	 	20.1.6.	 Measurement Period means each period of 12 (twelve) months ending on the last day of the
Borrowers’ Financial Year and each period of 12 (twelve) months ending on the last day of the first half of the Borrowers’ Financial Year. 

  

	 	20.2.	 Financial condition 

The Obligors shall ensure that for so long as any amount is outstanding under a Finance Document or any Commitment is in force: 

  
 56 

	 	20.2.1.	 the ratio of Consolidated EBITDA to Consolidated Net Finance Charges in respect of any Measurement Period shall
be or shall exceed 5:0; 

  

	 	20.2.2.	 the ratio of Consolidated Net Borrowings to Consolidated EBITDA shall not in respect of any Measurement Period
exceed 2.5. 

  

	 	20.3.	 Financial testing 

The financial covenants set out in clause 20.2 (Financial condition) shall be tested by reference to each of the financial statements
and/or each Compliance Certificate delivered pursuant to clause 19.2 (Compliance Certificate). 
  

	 	20.4.	 Breach of a Financial Condition Undertaking 

Any Obligor shall, immediately upon becoming aware of a breach of either of the financial covenants in clause 20.2 (Financial
condition), notify the Agent and provide such details about the breach as the Agent may request (unless that Obligor is aware that a notification has already been provided by another Obligor). 

 

	21.	 GENERAL UNDERTAKINGS 

The undertakings in this clause 21 are given in favour of each Finance Party and remain in force from the Signature Date for so long as any
amount is outstanding under the Finance Documents or any Commitment is in force. 
  

	 	21.1.	 Authorisations 

Each Obligor shall promptly: 
  

	 	21.1.1.	 obtain, comply with and do all that is necessary to maintain in full force and effect; and

  

	 	21.1.2.	 upon written request by the Agent or a Finance Party, supply certified copies to the Agent and/or a Finance
Party, as the case may be, of, 

 any authorisation required under any applicable law to enable it to perform its
obligations under the Finance Documents to which it is a party and to ensure the legality, validity, enforceability or admissibility in evidence of any Finance Document, including but not limited to, the requisite exchange control approvals. 

 

	 	21.2.	 Compliance with laws 

Each Obligor shall comply in all respects with all laws and regulations to which it may be subject (including, but not limited to,
Environmental Law), if failure so to comply would materially impair its ability to perform its obligations under the Finance Documents to which it is a party. 

  
 57 

	 	21.3.	 Negative pledge 

 

	 	21.3.1.	 No Obligor shall (and the Borrowers shall procure that no other Material Group Company shall) create or permit
to subsist any Encumbrance over any of its assets, save for Permitted Encumbrances. 

  

	 	21.3.2.	 No Obligor shall (and the Borrowers shall procure that no other Material Group Company will):

  

	 	21.3.2.1.	 sell, transfer or otherwise dispose of any of its assets on terms whereby they are or may be leased to or re-acquired by it or by an Obligor or any other member of the Group; 

  

	 	21.3.2.2.	 sell, transfer, cede or otherwise dispose of any of its receivables on recourse terms; 

 

	 	21.3.2.3.	 enter into any arrangement under which money or the benefit of a bank or other account may be applied, set-off or made subject to a combination of accounts; or 

  

	 	21.3.2.4.	 enter into any other preferential arrangement having a similar effect, 

in circumstances where the arrangement or transaction is entered into primarily as a method of raising any form of Financial Indebtedness or
of financing the acquisition of an asset. 
  

	 	21.3.3.	 Clauses 21.3.1 and 21.3.2 above do not apply to Permitted Encumbrances. 

 

	 	21.4.	 Financial Indebtedness 

No member of the Group (other than a Guarantor) shall incur, create or permit to subsist or have outstanding any Financial Indebtedness or
enter into any agreement or arrangement whereby it is entitled to incur, create or permit to subsist any Financial Indebtedness other than Permitted Financial Indebtedness. 
  

	 	21.5.	 Disposals and Mergers 

 

	 	21.5.1.	 No Obligor shall (and the Borrowers shall ensure that no other Material Group Company will):

  
 58 

	 	21.5.1.1.	 enter into a single transaction or a series of transactions (whether related or not) and whether voluntarily or
involuntarily to sell, lease, transfer or otherwise dispose of any assets; or 

  

	 	21.5.1.2.	 enter into any amalgamation, demerger, merger or corporate reconstruction. 

 

	 	21.5.2.	 Clause 21.5.1 above does not apply to: 

 

	 	21.5.2.1.	 Permitted Disposals; or 

 

	 	21.5.2.2.	 any amalgamation, demerger, merger or corporate reconstruction of any member of the Group, without insolvency,
if: 

  

	 	21.5.2.2.1.	 in respect of the Obligors or the
successors-in-title or assignees of the Obligors, the Finance Documents are preserved as binding upon the amalgamated, demerged, merged and/or reconstructed members of
the Group; and 

  

	 	21.5.2.2.2.	 the amalgamated, demerged, merged and/or reconstructed companies will be members of the Group; and

  

	 	21.5.2.2.3.	 such amalgamation, demerger, merger and/or corporate reconstruction will not have a Material Adverse Effect.

  

	 	21.6.	 Pari Passu Ranking 

Each Obligor shall ensure that at all times the claims of the Finance Parties against it under the Finance Documents rank at least pari
passu with claims of all its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by law applying to companies generally in its jurisdiction of incorporation. 

 

	 	21.7.	 Change of business 

Each Obligor shall procure that no substantial change is made to the general nature of its business or the business of the Group taken as a
whole from that carried on at the Signature Date. 

  
 59 

	 	21.8.	 Insurance 

Each Obligor shall (and the Borrowers shall ensure that each Material Group Company will) maintain insurances on and in relation to its
business and assets with reputable underwriters or insurance companies against those risks and to the extent as is usual for companies carrying on the same or substantially similar business. 

 

	 	21.9.	 Environmental Compliance 

Each Obligor shall (and each Obligor shall ensure that each Material Group Company will) substantially comply in all material respects with
all Environmental Law and obtain and maintain any Environmental Permits and take all reasonable steps in anticipation of known or expected future changes to or obligations under the same. 

 

	 	21.10.	 Environmental Claims 

Each Obligor shall inform the Agent, in writing as soon as reasonably practical upon becoming aware of the same if any Environmental Claim
(not of a frivolous or vexatious nature) has been commenced or (to the best of its knowledge and belief) threatened against any Material Group Company where the claim would be reasonably likely, if determined against that Material Group Company, to
have a Material Adverse Effect. 
  

	 	21.11.	 Taxation 

Each Obligor shall (and the Borrowers shall ensure that each other Material Group Company will) duly and punctually pay and discharge all
Taxes imposed upon it or its assets within the time period allowed without incurring material penalties, except to the extent: 
  

	 	21.11.1.	 that such payment is being contested in good faith; 

 

	 	21.11.2.	 adequate reserves are being maintained for those Taxes; and 

 

	 	21.11.3.	 where such payment can be lawfully withheld. 

 

	 	21.12.	 Maintenance of Legal Status 

Each Material Group Company shall do all such things as are necessary to maintain its existence as a legal person and shall maintain its books
and records in good order and make all necessary corporate filings with the relevant authorities in its jurisdiction of incorporation. 

  
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	 	21.13.	 Maintenance of Assets 

Each Obligor shall (and the Borrowers shall ensure that each other Material Group Company shall) ensure that it has good title to or validly
leases or licences all of the assets necessary and has all consents and/or authorisations necessary to carry on its business as conducted to the extent that failure to comply with this clause 21.13 could reasonably be expected to have a Material
Adverse Effect. 
  

	 	21.14.	 Acquisitions 

No Obligor shall (and the Obligors shall ensure that no Material Group Company will), without the prior consent of the Majority Lenders, enter
into any transaction, acquire any company, business, assets or undertaking where the cumulative value of such acquisitions is greater than 25% (twenty five percent) of the relevant Obligor’s Consolidated Tangible Net Worth. 

 

	 	21.15.	 Anti-corruption law 

 

	 	21.15.1.	 No Obligor shall (and the Borrowers shall ensure that no Material Group Company will) directly or indirectly
use the proceeds of the Facilities for any purpose which would breach any Applicable Anti-Corruption Laws. 

  

	 	21.15.2.	 The Borrowers shall (and shall ensure that each of its Material Group Companies will) maintain and enforce,
policies and procedures designed to promote and ensure compliance with all Applicable Anti-Corruption Laws. 

  

	22.	 EVENTS OF DEFAULT 

Each of the events or circumstances set out in clause 22 is an Event of Default (whether or not caused by any reason whatsoever outside the
control of an Obligor or any other person). 
  

	 	22.1.	 Non-payment 

An Obligor does not pay on the due date any amount payable pursuant to a Finance Document at the place at and in the currency in which it is
expressly payable and such failure is not remedied by payment of the amount due within 3 (three) Business Days of receipt of written notice from the Lender to the Borrowers calling upon the Borrowers to effect payment. 

 

	 	22.2.	 Financial covenants 

Any requirement of clause 20 (Financial Covenants) is not satisfied. 

  
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	 	22.3.	 Other obligations under Finance Documents 

 

	 	22.3.1.	 Subject to clause 22.16 (Remedy), an Obligor does not comply with any provision of the Finance Documents
(other than those referred to in clause 22.1 (Non-Payment) and clause 20 (Financial Covenants)). 

  

	 	22.3.2.	 No Event of Default will occur under clause 22.3.1 if the taxes not duly and punctually paid and discharged and
in respect of which the undertaking contained in clause 21.11 is given do not exceed an amount of US$5 000 000 (US dollars five million). 

  

	 	22.4.	 Misrepresentation 

 

	 	22.4.1.	 Subject to clause 22.16 (Remedy), any representation or statement made or deemed to be made by any
Obligor in the Finance Documents or any other document delivered by or on behalf of any Obligor under or in connection with any Finance Document is or proves to have been incorrect or misleading in any material and adverse respect when made or
deemed to be made. 

  

	 	22.4.2.	 No Event of Default will occur under clause 22.4.1 if the taxes in respect of which the undertaking contained
in clause 21.11 was made do not exceed an amount of US$5 000 000 (US dollars five million). 

  

	 	22.5.	 Cross-default 

 

	 	22.5.1.	 Any Financial Indebtedness of a Material Group Company is not paid when due, nor where there is an applicable
grace period, within the earlier to expire of the originally applicable grace period and a period of 5 (five) days starting at the same time as the originally applicable grace period. 

 

	 	22.5.2.	 Any Financial Indebtedness of a Material Group Company is declared to be or otherwise becomes due and payable
prior to its specified maturity as a result of an event of default (however described). 

  

	 	22.5.3.	 Any commitment for any Financial Indebtedness of a Material Group Company is cancelled or suspended by a
creditor of a Material Group Company as a result of an event of default (however described). 

  

	 	22.5.4.	 Any creditor of a Material Group Company becomes entitled to declare any Financial Indebtedness of a Material
Group Company due and payable prior to its specified maturity as a result of an Event of Default (however described). 

  
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	 	22.5.5.	 No Event of Default will occur under this clause 22.5 if the aggregate amount of Financial Indebtedness or
commitment for Financial Indebtedness, falling within clauses 22.5.1 to 22.5.4 above is less than US$5 000 000 (US dollars five million). 

  

	 	22.6.	 Insolvency 

  

	 	22.6.1.	 Any Material Group Company is unable or admits inability to pay its debts as they fall due, suspends making
payments on any of its debts or, by reason of actual or anticipated financial difficulties, commences negotiations with one or more of its classes of creditors with a view to rescheduling any of its Financial Indebtedness which in the case of a
Material Group Company (other than an Obligor) could reasonably be expected to have a Material Adverse Effect. 

  

	 	22.6.2.	 The value of the assets of any Material Group Company is less than its liabilities (taking into account
contingent and prospective liabilities) which in the case of a Material Group Company (other than an Obligor) could reasonably be expected to have a Material Adverse Effect. 

 

	 	22.6.3.	 A moratorium is declared in respect of any Financial Indebtedness of any Material Group Company.

  

	 	22.7.	 Insolvency proceedings 

Any corporate action, legal proceedings or other similar procedure or step is taken in relation to: 

 

	 	22.7.1.	 the suspension of payments, a moratorium of any Financial Indebtedness,
winding-up, dissolution, administration or reorganisation (by way of voluntary arrangement, scheme of arrangement or otherwise) of any Material Group Company; 

 

	 	22.7.2.	 a composition, compromise, assignment or arrangement with any creditor or class of creditors of any Material
Group Company; 

  

	 	22.7.3.	 the appointment of a liquidator, receiver, administrator, administrative receiver, judicial manager, compulsory
manager or other similar officer in respect of any Material Group Company or any of its assets; or 

  

	 	22.7.4.	 enforcement of any Encumbrance over any assets of any Material Group Company, or any analogous procedure or
step is taken in any jurisdiction and any such procedure or proceedings are not contested in good faith nor discharged within 30 (thirty) days (or such shorter period provided for contesting such procedure or proceedings under the laws of the
relevant jurisdiction). 

  
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	 	22.8.	 Failure to Comply with Final Judgement 

Any Material Group Company fails within 5 (five) Business Days of the due date to comply with or pay any sum due from it under any material
final judgement or any final order made or given by any court of competent jurisdiction. For the purposes of this clause 22.8, a material final judgement shall be any final judgement for the payment of a sum of money in excess of US$2 500 000
(US dollars two million five hundred thousand). 
  

	 	22.9.	 Creditors’ Process 

Any expropriation (other than an expropriation where fair compensation is received) or the operation of the attachment, sequestration,
distress or execution affects any material asset of a Material Group Company and is not discharged within 21 (twenty one) days. For the purposes of this clause 22.9 a material asset is any single income producing asset of the relevant
Material Group Company which contributes not less than 5% (five percent) towards the Consolidated EBITDA or gross assets of the Group (calculated according to the most recent set of audited consolidated financial statements delivered pursuant to
clause 19.1 (Financial Statements) provided that any loss of mineral rights arising as a result of the operation of the Minerals and Mining Act, 2006 (Act 703) of the Republic of Ghana shall not constitute an expropriation for the purposes of
this clause 22.9. 
  

	 	22.10.	 Unlawfulness 

It is or becomes unlawful for an Obligor to perform any of its obligations under the Finance Documents or such obligations cease to be legal,
valid, binding or enforceable obligations. 
  

	 	22.11.	 Repudiation and Unenforceability 

An Obligor repudiates a Finance Document or any Finance Document is declared to be or is otherwise unenforceable against an Obligor by a court
of the jurisdiction of incorporation of the relevant Obligor. 
  

	 	22.12.	 Governmental Intervention 

By or under the authority of any government: 

  
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	 	22.12.1.	 the management of any Material Group Company is wholly or partially displaced or the authority of any Material
Group Company in the conduct of its business is wholly or partially taken over; or 

  

	 	22.12.2.	 all or a majority of the issued shares of any Material Group Company or material part of its revenues or assets
is seized, nationalised, expropriated or compulsorily acquired. For the purposes of this clause 22.12.2 (material part of its revenues or assets shall in relation to the relevant Material Group Company be construed as revenues comprising not less
than 5% (five percent) of the Consolidated EBITDA or gross assets of the Group calculated mutatis mutandis in accordance with the provisions of clause 20.1.1 (Financial Covenants) or assets which contribute not less than 5% (five
percent) towards the Consolidated EBITDA or gross assets of the Group calculated mutatis mutandis in accordance with the provisions of clause 20.1.1 (Financial Covenants), provided that neither the implementation of the Mineral and
Petroleum Resources Development Act, No. 28 of 2002 substantially in its current form as at the Signature Date nor the implementation of the Minerals and Petroleum Royalty Bill in substantially its current form once enacted shall constitute a
seizure, nationalisation, expropriation or compulsory acquisition as contemplated by this clause 22.12.2. 

  

	 	22.13.	 Material Adverse Effect 

Any change occurs in the business, condition (financial or otherwise), operations, performance, properties or prospects of the Obligors or the
Group taken as a whole since the date of the Original Financial Statements provided to the Agent in accordance with this Agreement, which could be reasonably likely to have a Material Adverse Effect. 

 

	 	22.14.	 Cessation of Business 

Any Material Group Company ceases to carry on the business which it undertakes at the Signature Date. 

 

	 	22.15.	 Acceleration 

On and at any time after the occurrence of an Event of Default which is continuing the Agent may, and shall if so directed by the Majority
Lenders, by notice to the Borrowers: 
  

	 	22.15.1.	 cancel the Total Commitments whereupon they shall immediately be cancelled; 

  
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	 	22.15.2.	 declare that all or part of the Loans, together with accrued interest, and all other amounts accrued or
outstanding under the Finance Documents be immediately due and payable, whereupon they shall become immediately due and payable; and/or 

  

	 	22.15.3.	 declare that all or part of the Loans be payable on demand, whereupon they shall immediately become payable on
demand by the Agent on the instructions of the Majority Lenders. 

  

	 	22.16.	 Remedy 

  

	 	22.16.1.	 No Event of Default under this clause 22 (Events of Default) (other than those referred to in clause
22.1 (Non-payment) and 22.2 (Financial covenants)) will occur if the failure to comply or circumstance giving rise to the same is capable of remedy and is remedied by an Obligor
within 10 (ten) days of the earlier of the Agent giving notice to the Obligors or any Obligor becoming aware of the failure to comply. 

  

	 	22.16.2.	 For the purposes of clause 22.16.1 above, the events or circumstances referred to in clause 22.5
(Cross-default), clause 22.6 (Insolvency), clause 22.7 (Insolvency Proceedings), clause 22.8 (Failure to Comply with Final Judgment), clause 22.9 (Creditors Process), clause 22.10 (Unlawfulness), clause
22.11 (Repudiation and Unenforceability), clause 22.12 (Governmental Intervention), clause 22.13 (Material Adverse Effect) and clause 22.14 (Cessation of Business) shall be deemed to be incapable of remedy save to the
extent set out therein unless the Agent determines otherwise. 

  

	23.	 CHANGES TO THE LENDERS 

 

	 	23.1.	 Assignments and transfers by the Lenders 

Subject to this clause 23, a Lender (the “Existing Lender”) may: 

 

	 	23.1.1.	 assign any (or all) of its rights; or 

 

	 	23.1.2.	 transfer by novation any (or all) of its rights and obligations, to another bank or financial institution (the
“New Lender”). 

  
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	 	23.2.	 Conditions of assignment or transfer 

 

	 	23.2.1.	 The consent of the Borrowers is required for an assignment or transfer by an Existing Lender, unless the
assignment or transfer: 

  

	 	23.2.1.1.	 is to another Lender or an Affiliate of a Lender; or 

 

	 	23.2.1.2.	 a Permitted Transferee as set out in Schedule 9 hereto. 

 

	 	23.2.2.	 The consent of the Borrowers to an assignment or transfer must not be unreasonably withheld, made subject to
conditions or delayed. The Borrowers will be deemed to have given their consent 5 (five) Business Days after the Existing Lender has requested it, unless consent is expressly refused by the Borrowers within that time. 

 

	 	23.2.3.	 The Borrowers (acting reasonably) shall at any time (other than during the 15 (fifteen) Business Day notice
period referred to below (Notification)) be entitled to deliver a written notice to the Agent specifying that it wishes to remove a Permitted Transferee from the Permitted Transferee list. Such written notice shall set out reasonable grounds
for the Borrower’s request to remove such Permitted Transferee from the list. If the Agent is satisfied (acting reasonably) that the Borrowers has reasonable grounds for such removal the Agent shall notify the Borrowers in writing accordingly
and such Permitted Transferee shall thereupon cease to be a Permitted Transferee; provided that, to the extent that such Permitted Transferee is already a Lender as at the date of such removal, such removal shall not obligate any Finance Party to
acquire or re-acquire such Permitted Transferees participation in any Loan. 

  

	 	23.2.4.	 The consent of the Borrowers under clause 23.2.1 shall not be required when an Event of Default has occurred
and is continuing. 

  

	 	23.2.5.	 An assignment will only be effective on: 

 

	 	23.2.5.1.	 receipt by the Agent of written confirmation from the New Lender (in form and substance satisfactory to the
Agent) that the New Lender will assume the same obligations to the other Finance Parties as it would have been under if it was an Original Lender; and 

  
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	 	23.2.5.2.	 performance by the Agent of all necessary “know your customer” or other similar checks under all
applicable laws and regulations in relation to such assignment to a New Lender, the completion of which the Agent shall promptly notify to the Existing Lender and the New Lender. 

 

	 	23.2.6.	 A transfer will only be effective if the procedure set out in clause 23.4 (Procedure for transfer) is
complied with. In addition, a Lender proposing to effect any assignment or transfer shall give the Borrowers and each other Finance Party 15 (fifteen) Business Days’ prior written notice of any such proposed assignment or transfer.

  

	 	23.2.7.	 If: 

  

	 	23.2.7.1.	 a Lender assigns or transfers any of its rights or obligations under the Finance Documents or changes its
Facility Office; and 

  

	 	23.2.7.2.	 as a result of circumstances existing at the date the assignment, transfer or change occurs, an Obligor would
be obliged to make a payment to the New Lender or Lender acting through its new Facility Office under clause 12 (Tax gross-up and indemnities) or clause 13 (Increased costs),

 then the New Lender or Lender acting through its new Facility Office is only entitled to receive payment under those
clauses to the same extent as the Existing Lender or Lender acting through its previous Facility Office would have been if the assignment, transfer or change had not occurred. 
  

	 	23.3.	 Limitation of responsibility of Existing Lenders 

 

	 	23.3.1.	 Unless expressly agreed to the contrary, an Existing Lender makes no representation or warranty and assumes no
responsibility to a New Lender for: 

  

	 	23.3.1.1.	 the legality, validity, effectiveness, adequacy or enforceability of the Finance Documents or any other
documents; 

  

	 	23.3.1.2.	 the financial condition of any Obligor; 

 

	 	23.3.1.3.	 the performance and observance by any Obligor of its obligations under the Finance Documents or any other
documents; or 

  
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	 	23.3.1.4.	 the accuracy of any statements (whether written or oral) made in or in connection with any Finance Document or
any other document, 

 and any representations or warranties implied by law are excluded. 

 

	 	23.3.2.	 Each New Lender confirms to the Existing Lender and the other Finance Parties that it: 

 

	 	23.3.2.1.	 has made (and shall continue to make) its own independent investigation and assessment of the financial
condition and affairs of each Obligor and its related entities in connection with its participation in this Agreement and has not relied exclusively on any information provided to it by the Existing Lender in connection with any Finance Document;
and 

  

	 	23.3.2.2.	 will continue to make its own independent appraisal of the creditworthiness of each Obligor and its related
entities whilst any amount is or may be outstanding under the Finance Documents or any Commitment is in force. 

  

	 	23.3.3.	 Nothing in any Finance Document obliges an Existing Lender to: 

 

	 	23.3.3.1.	 accept a re-transfer from a New Lender of any of the rights and
obligations assigned or transferred under this clause 23; or 

  

	 	23.3.3.2.	 support any losses directly or indirectly incurred by the New Lender by reason of the non-performance by any Obligor of its obligations under the Finance Documents or otherwise. 

  

	 	23.4.	 Procedure for transfer 

 

	 	23.4.1.	 Subject to the conditions set out in clause 23.2 (Conditions of assignment or transfer) a
transfer is effected in accordance with clause 23.4.3 below when the Agent executes an otherwise duly completed Transfer Certificate delivered to it by the Existing Lender and the New Lender. The Agent shall, subject to clause 23.4.2 below, as soon
as reasonably practicable after receipt by it of a duly completed Transfer Certificate appearing on its face to comply with the terms of this Agreement and delivered in accordance with the terms of this Agreement, execute that Transfer Certificate.

  
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	 	23.4.2.	 The Agent shall only be obliged to execute a Transfer Certificate delivered to it by the Existing Lender and
the New Lender once it is satisfied it has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the transfer to such New Lender. 

 

	 	23.4.3.	 On the Transfer Date: 

 

	 	23.4.3.1.	 to the extent that in the Transfer Certificate the Existing Lender seeks to transfer by novation its rights and
obligations under the Finance Documents each of the Obligors and the Existing Lender shall be released from further obligations towards one another under the Finance Documents and their respective rights against one another under the Finance
Documents shall be cancelled (being the Discharged Rights and Obligations); 

  

	 	23.4.3.2.	 each of the Obligors and the New Lender shall assume obligations towards one another and/or acquire rights
against one another which differ from the Discharged Rights and Obligations only insofar as that Obligor and the New Lender have assumed and/or acquired the same in place of that Obligor and the Existing Lender; 

 

	 	23.4.3.3.	 the Agent, the New Lender and other Lenders shall acquire the same rights and assume the same obligations
between themselves as they would have acquired and assumed had the New Lender been an Original Lender with the rights and/or obligations acquired or assumed by it as a result of the transfer and to that extent the Agent, and the Existing Lender
shall each be released from further obligations to each other under the Finance Documents; and 

  

	 	23.4.3.4.	 the New Lender shall become a Party as a Lender. 

 

	 	23.5.	 Copy of Transfer Certificate to Borrowers 

The Agent shall, as soon as reasonably practicable after it has executed a Transfer Certificate, send to the Borrowers a copy of that Transfer
Certificate. 

  
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	 	23.6.	 Disclosure of information 

Any Lender may disclose to any of its Affiliates, professional advisors, auditors and any other person if any person to whom such information
is to be given pursuant to this clause 23.6 is informed in writing of the confidential nature of such information and the Obligor is informed of such disclosure: 
  

	 	23.6.1.	 to (or through) whom that Lender assigns or transfers (or may potentially assign or transfer) all or any of its
rights and obligations under this Agreement; 

  

	 	23.6.2.	 with (or through) whom that Lender enters into (or may potentially enter into) any sub- participation in relation to, or any other transaction under which payments are to be made by reference to, this Agreement or any Obligor; or 

 

	 	23.6.3.	 to whom, and to the extent that, information is required to be disclosed by any applicable law or regulation,

 any information about any Obligor, the Group and the Finance Documents as that Lender shall consider appropriate if, in
relation to clauses 23.6.1 and 23.6.2 above, the person to whom the information is to be given has entered into a Confidentiality Undertaking. A Lender may also disclose the size and term of the Facility and the name of each Obligor to any investor
or potential investor in a securitisation (or similar transaction of broadly equivalent economic effect) if the person to whom the information is to be given has entered into a Confidentiality Undertaking. 

 

	24.	 CHANGES TO THE OBLIGORS 

 

	 	24.1.	 Assignment and transfer by Obligors 

No Obligor may assign any of its rights or transfer any of its rights or obligations under the Finance Documents. 

 

	 	24.2.	 Additional Guarantors 

 

	 	24.2.1.	 Subject to compliance with the provisions of clauses 19.8.3 and 19.8.4 (“Know your customer”
checks), the Borrowers may request that any of their respective Subsidiaries become an Additional Guarantor. That Subsidiary shall become an Additional Guarantor if; 

 

	 	24.2.1.1.	 the Borrowers deliver to the Agent a duly completed and executed Accession Letter; and 

  
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	 	24.2.1.2.	 the Agent has received all of the documents and other evidence listed in Part II of Schedule 2
(Conditions precedent) in relation to that Additional Guarantor, each in form and substance satisfactory to the Agent. 

  

	 	24.2.2.	 The Agent shall notify the Borrowers and the Lenders promptly upon being satisfied that it has received (in
form and substance satisfactory to it) all the documents and other evidence listed in Part II of Schedule 2 (Conditions precedent). 

  

	 	24.3.	 Repetition of Representations 

Delivery of an Accession Letter constitutes confirmation by the relevant Subsidiary that the representations in clause 18
(Representations) are true and correct in relation to it as at the date of delivery as if made by reference to the facts and circumstances then existing. 
  

	 	24.4.	 Resignation of an Additional Guarantor 

 

	 	24.4.1.	 The Borrowers may request that a Guarantor (other than an Original Guarantor) ceases to be a Guarantor by
delivering to the Agent a Resignation Letter. 

  

	 	24.4.2.	 The Agent shall accept a Resignation Letter and notify the Borrowers and the Lenders of its acceptance if no
Default is continuing and the Borrowers have confirmed to the Agent that this is the case. 

  

	25.	 ROLE OF THE AGENT 

 

	 	25.1.	 Appointment of the Agent 

 

	 	25.1.1.	 With effect from the Agent Appointment Date, each other Finance Party appoints the Agent to act as its agent
under and in connection with the Finance Documents. 

  

	 	25.1.2.	 Each other Finance Party authorises the Agent to exercise the rights, powers, authorities and discretions
specifically given to the Agent under or in connection with the Finance Documents together with any other incidental rights, powers, authorities and discretions. 

  
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	 	25.2.	 Duties of the Agent 

 

	 	25.2.1.	 The Agent shall promptly forward to a Party the original or a copy of any document which is delivered to the
Agent for that Party by any other Party. 

  

	 	25.2.2.	 Except where a Finance Document specifically provides otherwise, the Agent is not obliged to review or check
the adequacy, accuracy or completeness of any document it forwards to another Party. 

  

	 	25.2.3.	 If the Agent receives notice from a Party referring to this Agreement, describing a Default and stating that
the circumstance described is a Default, it shall promptly notify the other Finance Parties. 

  

	 	25.2.4.	 If the Agent is aware of the non-payment of any principal, interest,
commitment fee or other fee payable to a Finance Party (other than the Agent) under this Agreement it shall promptly notify the other Finance Parties. 

  

	 	25.2.5.	 The Agent’s duties under the Finance Documents are solely mechanical and administrative in nature.

  

	 	25.3.	 No fiduciary duties 

 

	 	25.3.1.	 Nothing in this Agreement constitutes the Agent as a trustee or fiduciary of any other person.

  

	 	25.3.2.	 The Agent shall not be bound to account to any Lender for any sum or the profit element of any sum received by
it for its own account. 

  

	 	25.4.	 Business with the Group 

The Agent may accept deposits from, lend money to and generally engage in any kind of banking or other business with any member of the Group.

  

	 	25.5.	 Rights and discretions of the Agent 

 

	 	25.5.1.	 The Agent may rely on: 

 

	 	25.5.1.1.	 any representation, notice or document believed by it to be genuine, correct and appropriately authorised; and

  

	 	25.5.1.2.	 any statement made by a director, authorised signatory or employee of any person regarding any matters which
may reasonably be assumed to be within his knowledge or within his power to verify. 

  
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	 	25.5.2.	 The Agent may assume (unless it has received notice to the contrary in its capacity as agent for the Lenders)
that: 

  

	 	25.5.2.1.	 no Default has occurred (unless it has actual knowledge of a Default arising under clause 22.1 (Non-payment)); 

  

	 	25.5.2.2.	 any right, power, authority or discretion vested in any Party or the Majority Lenders has not been exercised;
and 

  

	 	25.5.2.3.	 any notice or request made by the Borrowers (other than a Utilisation Request) is made on behalf of and with
the consent and knowledge of all the Obligors. 

  

	 	25.5.3.	 The Agent may engage, pay for and rely on the advice or services of any lawyers, accountants, surveyors or
other experts. 

  

	 	25.5.4.	 The Agent may act in relation to the Finance Documents through its personnel and agents. 

 

	 	25.5.5.	 The Agent may disclose to any other Party any information it reasonably believes it has received as agent under
this Agreement. 

  

	 	25.5.6.	 Notwithstanding any other provision of any Finance Document to the contrary, the Agent is not obliged to do or
omit to do anything if it would or might in its reasonable opinion constitute a breach of any law or regulation or a breach of a fiduciary duty or duty of confidentiality. 

 

	 	25.6.	 Majority Lenders’ instructions 

 

	 	25.6.1.	 Unless a contrary indication appears in a Finance Document, the Agent shall (i) exercise any right, power,
authority or discretion vested in it as Agent in accordance with any instructions given to it by the Majority Lenders (or, if so instructed by the Majority Lenders, refrain from exercising any right, power, authority or discretion vested in it as
Agent) and (ii) not be liable for any act (or omission) if it acts (or refrains from taking any action) in accordance with an instruction of the Majority Lenders. 

  
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	 	25.6.2.	 Unless a contrary indication appears in a Finance Document, any instructions given by the Majority Lenders will
be binding on all the Finance Parties. 

  

	 	25.6.3.	 The Agent may refrain from acting in accordance with the instructions of the Majority Lenders (or, if
appropriate, the Lenders) until it has received such security as it may require for any cost, loss or liability (together with any associated VAT) which it may incur in complying with the instructions. 

 

	 	25.6.4.	 In the absence of instructions from the Majority Lenders, (or, if appropriate, the Lenders) the Agent may act
(or refrain from taking action) as it considers to be in the best interest of the Lenders. 

  

	 	25.6.5.	 The Agent is not authorised to act on behalf of a Lender (without first obtaining that Lender’s consent)
in any legal or arbitration proceedings relating to any Finance Document. 

  

	 	25.7.	 Responsibility for documentation 

The Agent: 
  

	 	25.7.1.	 is not responsible for the adequacy, accuracy and/or completeness of any information (whether oral or written)
supplied by the Agent, an Obligor or any other person given in or in connection with any Finance Document; or 

  

	 	25.7.2.	 is not responsible for the legality, validity, effectiveness, adequacy or enforceability of any Finance
Document or any other agreement, arrangement or document entered into, made or executed in anticipation of or in connection with any Finance Document. 

  

	 	25.8.	 Exclusion of liability 

 

	 	25.8.1.	 Without limiting clause 25.8.2 below, the Agent will not be liable (including without limitation, for
negligence or any other category of liability whatsoever) for any action taken by it under or in connection with any Finance Document, unless directly caused by its gross negligence or wilful misconduct. 

 

	 	25.8.2.	 No Party (other than the Agent) may take any proceedings against any officer, employee or agent of the Agent in
respect of any claim it might have against the Agent or in respect of any act or omission of any kind by that officer, employee or agent in relation to any Finance Document and any officer, employee or agent of the Agent may rely on this clause 25.8
subject to clause 1.4 (Third Party Rights) and the provisions of the Third Parties Act. 

  
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	 	25.8.3.	 The Agent will not be liable for any delay (or any related consequences) in crediting an account with an amount
required under the Finance Documents to be paid by the Agent if the Agent has taken all necessary steps as soon as reasonably practicable to comply with the regulations or operating procedures of any recognised clearing or settlement system used by
the Agent for that purpose. 

  

	 	25.8.4.	 Nothing in this Agreement shall oblige the Agent to carry out any “know your customer” or other
checks in relation to any person on behalf of any Lender and each Lender confirms to the Agent that it is solely responsible for any such checks it is required to carry out and that it may not rely on any statement in relation to such checks made by
the Agent. 

  

	 	25.9.	 Lenders’ indemnity to the Agent 

Each Lender shall (in proportion to its share of the Total Commitments or, if the Total Commitments are then zero, to its share of the Total
Commitments immediately prior to their reduction to zero) indemnify the Agent, within 3 (three) Business Days of demand, against any cost, loss or liability (including, without limitation, for negligence or any other category of liability
whatsoever) incurred by the Agent (otherwise than by reason of the Agent’s gross negligence or wilful misconduct) in acting as Agent under the Finance Documents (unless the Agent has been reimbursed by an Obligor pursuant to a Finance
Document). 
  

	 	25.10.	 Resignation of the Agent 

 

	 	25.10.1.	 The Agent may resign and appoint one of its Affiliates acting through an office as successor by giving notice
to the other Finance Parties and the Borrowers. 

  

	 	25.10.2.	 Alternatively the Agent may resign by giving notice to the other Finance Parties, in which case the Majority
Lenders (after consultation with the Borrowers) may appoint a successor Agent. 

  

	 	25.10.3.	 If the Majority Lenders have not appointed a successor Agent in accordance with clause 25.10.2 above within 30
(thirty) days after notice of resignation was given, the Agent (after consultation with the Borrowers) may appoint a successor Agent. 

  
 76 

	 	25.10.4.	 The retiring Agent shall, at its own cost, make available to the successor Agent such documents and records and
provide such assistance as the successor Agent may reasonably request for the purposes of performing its functions as Agent under the Finance Documents. 

  

	 	25.10.5.	 The Agent’s resignation notice shall only take effect upon the appointment of a successor.

  

	 	25.10.6.	 Upon the appointment of a successor, the retiring Agent shall be discharged from any further obligation in
respect of the Finance Documents but shall remain entitled to the benefit of this clause 25. Its successor and each of the other Parties shall have the same rights and obligations amongst themselves as they would have had if such successor had been
an original Party. 

  

	 	25.10.7.	 After consultation with the Borrowers, the Majority Lenders may, by notice to the Agent, require it to resign
in accordance with clause 25.10.2 above. In this event, the Agent shall resign in accordance with clause 25.10.2 above. 

  

	 	25.11.	 Confidentiality 

 

	 	25.11.1.	 In acting as agent for the Finance Parties, the Agent shall be regarded as acting through its agency division
which shall be treated as a separate entity from any other of its divisions or departments. 

  

	 	25.11.2.	 If information is received by another division or department of the Agent, it may be treated as confidential to
that division or department and the Agent shall not be deemed to have notice of it. 

  

	 	25.12.	 Relationship with the Lenders 

The Agent may treat each Lender as a Lender, entitled to payments under this Agreement and acting through its Facility Office unless it has
received not less than 5 (five) Business Days prior notice from that Lender to the contrary in accordance with the terms of this Agreement. 
  

	 	25.13.	 Credit appraisal by the Lenders 

Without affecting the responsibility of any Obligor for information supplied by it or on its behalf in connection with any Finance Document,
each Lender confirms to the Agent that it has been, and will continue to be, solely responsible for making its own independent appraisal and investigation of all risks arising under or in connection with any Finance Document including but not
limited to: 

  
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	 	25.13.1.	 the financial condition, status and nature of each member of the Group; 

 

	 	25.13.2.	 the legality, validity, effectiveness, adequacy or enforceability of any Finance Document and any other
agreement, arrangement or document entered into, made or executed in anticipation of, under or in connection with any Finance Document; 

  

	 	25.13.3.	 whether that Lender has recourse, and the nature and extent of that recourse, against any Party or any of its
respective assets under or in connection with any Finance Document, the transactions contemplated by the Finance Documents or any other agreement, arrangement or document entered into, made or executed in anticipation of, under or in connection with
any Finance Document; and 

  

	 	25.13.4.	 the adequacy, accuracy and/or completeness of any information provided by the Agent, any Party or by any other
person under or in connection with any Finance Document, the transactions contemplated by the Finance Documents or any other agreement, arrangement or document entered into, made or executed in anticipation of, under or in connection with any
Finance Document. 

  

	 	25.14.	 Agent’s Management Time 

Following the occurrence of a Default, any amount payable to the Agent under clause 14.3 (Indemnity to the Agent), clause 16
(Costs and expenses) and clause 25.9 (Lenders’ indemnity to the Agent) shall in addition include the cost of utilising the Agent’s management time or other resources and will be calculated on the basis of such
reasonable daily or hourly rates as the Agent may notify to the Borrowers and the Lenders, and is in addition to any fee paid or payable to the Agent under clause 11 (Fees). 

 

	 	25.15.	 Deduction from amounts payable by the Agent 

If any Party owes an amount to the Agent under the Finance Documents the Agent may, after giving notice to that Party, deduct an amount not
exceeding that amount from any payment to that Party which the Agent would otherwise be obliged to make under the Finance Documents and apply the amount deducted in or towards satisfaction of the amount owed. For the purposes of the Finance
Documents that Party shall be regarded as having received any amount so deducted. 

  
 78 

	26.	 CONDUCT OF BUSINESS BY THE FINANCE PARTIES  

No provision of this Agreement will: 
  

	 	26.1.	 interfere with the right of any Finance Party to arrange its affairs (tax or otherwise) in whatever manner it
thinks fit; 

  

	 	26.2.	 oblige any Finance Party to investigate or claim any credit, relief, remission or repayment available to it or
the extent, order and manner of any claim; or 

  

	 	26.3.	 oblige any Finance Party to disclose any information relating to its affairs (tax or otherwise) or any
computations in respect of Tax. 

  

	27.	 SHARING AMONG THE FINANCE PARTIES  

 

	 	27.1.	 Payments to Finance Parties 

If a Finance Party (a Recovering Finance Party) receives or recovers any amount from an Obligor other than in accordance with clause 28
(Payment Mechanics) and applies that amount to a payment due under the Finance Documents then: 
  

	 	27.1.1.	 the Recovering Finance Party shall, within 3 (three) Business Days, notify details of the receipt or recovery,
to the Agent; 

  

	 	27.1.2.	 the Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Finance
Party would have been paid had the receipt or recovery been received or made by the Agent and distributed in accordance with clause 28 (Payment Mechanics), without taking account of any Tax which would be imposed on the Agent in
relation to the receipt, recovery or distribution; and 

  

	 	27.1.3.	 the Recovering Finance Party shall, within 3 (three) Business Days of demand by the Agent, pay to the Agent an
amount (the Sharing Payment) equal to such receipt or recovery less any amount which the Agent determines may be retained by the Recovering Finance Party as its share of any payment to be made, in accordance with clause 28.5 (Partial
Payments). 

  
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	 	27.2.	 Redistribution of payments 

The Agent shall treat the Sharing Payment as if it had been paid by the relevant Obligor and distribute it between the Finance Parties (other
than the Recovering Finance Party) in accordance with clause 28.5 (Partial Payments). 
  

	 	27.3.	 Recovering Finance Party’s rights 

 

	 	27.3.1.	 On a distribution by the Agent under clause 27.2 (Redistribution of payments), the
Recovering Finance Party will be subrogated to the rights of the Finance Parties which have shared in the redistribution. 

  

	 	27.3.2.	 If and to the extent that the Recovering Finance Party is not able to rely on its rights under clause 27.3.1
above, the relevant Obligor shall be liable to the Recovering Finance Party for a debt equal to the Sharing Payment which is immediately due and payable. 

  

	 	27.4.	 Reversal of redistribution 

If any part of the Sharing Payment received or recovered by a Recovering Finance Party becomes repayable and is repaid by that Recovering
Finance Party, then: 
  

	 	27.4.1.	 each Finance Party which has received a share of the relevant Sharing Payment pursuant to clause 27.2
(Redistribution of payments) shall, upon request of the Agent, pay to the Agent for account of that Recovering Finance Party an amount equal to the appropriate part of its share of the Sharing Payment (together with an amount as is
necessary to reimburse that Recovering Finance Party for its proportion of any interest on the Sharing Payment which that Recovering Finance Party is required to pay); and 

 

	 	27.4.2.	 that Recovering Finance Party’s rights of subrogation in respect of any reimbursement shall be cancelled
and the relevant Obligor will be liable to the reimbursing Finance Party for the amount so reimbursed. 

  

	 	27.5.	 Exceptions 

  

	 	27.5.1.	 This clause 27 shall not apply to the extent that the Recovering Finance Party would not, after making any
payment pursuant to this clause 27, have a valid and enforceable claim against the relevant Obligor. 

  
 80 

	 	27.5.2.	 A Recovering Finance Party is not obliged to share with any other Finance Party any amount which the Recovering
Finance Party has received or recovered as a result of taking legal or arbitration proceedings, if: 

  

	 	27.5.2.1.	 it notified that other Finance Party of the legal or arbitration proceedings; and 

 

	 	27.5.2.2.	 that other Finance Party had an opportunity to participate in those legal or arbitration proceedings but did
not do so as soon as reasonably practicable having received notice and did not take separate legal or arbitration proceedings. 

  

	28.	 PAYMENT MECHANICS 

 

	 	28.1.	 Payments to the Agent 

 

	 	28.1.1.	 On each date on which an Obligor or a Lender is required to make a payment under a Finance Document, that
Obligor or Lender shall make the same available to the Agent (unless a contrary indication appears in a Finance Document) for value on the due date at the time and in such funds specified by the Agent as being customary at the time for settlement of
transactions in the relevant currency in the place of payment. 

  

	 	28.1.2.	 Payment shall be made to such account in the principal financial centre of the country of that currency with
such bank as the Agent specifies. 

  

	 	28.2.	 Distributions by the Agent 

Each payment received by the Agent under the Finance Documents for another Party shall, subject to clause 28.3 (Distributions to an
Obligor), clause 28.4 (Clawback) and clause 25.15 (Deduction from amounts payable by the Agent) be made available by the Agent as soon as practicable after receipt to the Party entitled to receive payment in accordance with
this Agreement (in the case of a Lender, for the account of its Facility Office), to such account as that Party may notify to the Agent by not less than 5 (five) Business Days’ notice with a bank in the principal financial centre of the country
of that currency. 
  

	 	28.3.	 Distributions to an Obligor 

The Agent may (with the consent of the Obligor or in accordance with clause 29 (Set-off)) apply
any amount received by it for that Obligor in or towards payment (on the date and in the currency and funds of receipt) of any amount due from that Obligor under the Finance Documents or in or towards purchase of any amount of any currency to
be so applied. 

  
 81 

	 	28.4.	 Clawback 

  

	 	28.4.1.	 Where a sum is to be paid to the Agent under the Finance Documents for another Party, the Agent is not obliged
to pay that sum to that other Party (or to enter into or perform any related exchange contract) until it has been able to establish to its satisfaction that it has actually received that sum. 

 

	 	28.4.2.	 If the Agent pays an amount to another Party and it proves to be the case that the Agent had not actually
received that amount, then the Party to whom that amount (or the proceeds of any related exchange contract) was paid by the Agent shall on demand refund the same to the Agent together with interest on that amount from the date of payment to the date
of receipt by the Agent, calculated by the Agent to reflect its cost of funds. 

  

	 	28.5.	 Partial Payments 

 

	 	28.5.1.	 If the Agent receives a payment that is insufficient to discharge all the amounts then due and payable by an
Obligor under the Finance Documents, the Agent shall apply that payment towards the obligations of that Obligor under the Finance Documents in the following order: 

 

	 	28.5.1.1.	 first, in or towards payment pro rata of any unpaid fees, costs and expenses of the Agent under the Finance
Documents; 

  

	 	28.5.1.2.	 secondly, in or towards payment pro rata of any accrued interest, fee or commission due but unpaid under this
Agreement; 

  

	 	28.5.1.3.	 thirdly, in or towards payment pro rata of any principal due but unpaid under this Agreement; and

  

	 	28.5.1.4.	 fourthly, in or towards payment pro rata of any other sum due but unpaid under the Finance Documents.

  

	 	28.5.2.	 The Agent shall, if so directed by the Majority Lenders, vary the order set out in clauses 28.5.1.1 to 28.5.1.4
above. 

  

	 	28.5.3.	 Clauses 28.5.1 and 28.5.2 above will override any appropriation made by an Obligor. 

  
 82 

	 	28.6.	 No set-off by Obligors 

All payments to be made by an Obligor under the Finance Documents shall be calculated and be made without (and free and clear of any deduction
for) set-off or counterclaim. 
  

	 	28.7.	 Business Days 

Any payment which is due to be made on a day that is not a Business Day shall be made on the next Business Day in the same calendar month (if
there is one) or the preceding Business Day (if there is not). 
  

	 	28.8.	 Currency of account 

 

	 	28.8.1.	 Subject to clauses 28.8.2 and 28.8.3 below, dollars is the currency of account and payment for any sum due from
an Obligor under any Finance Document. 

  

	 	28.8.2.	 Each payment in respect of costs, expenses or Taxes shall be made in the currency in which the costs, expenses
or Taxes are incurred. 

  

	 	28.8.3.	 Any amount expressed to be payable in a currency other than dollars shall be paid in that other currency.

  

	 	28.9.	 Change of currency 

 

	 	28.9.1.	 Unless otherwise prohibited by law, if more than one currency or currency unit are at the same time recognised
by the central bank of any country as the lawful currency of that country, then: 

  

	 	28.9.1.1.	 any reference in the Finance Documents to, and any obligations arising under the Finance Documents in, the
currency of that country shall be translated into, or paid in, the currency or currency unit of that country designated by the Agent (after consultation with the Borrowers); and 

 

	 	28.9.1.2.	 any translation from one currency or currency unit to another shall be at the official rate of exchange
recognised by the central bank for the conversion of that currency or currency unit into the other, rounded up or down by the Agent (acting reasonably). 

  
 83 

	 	28.9.2.	 If a change in any currency of a country occurs, this Agreement will, to the extent the Agent (acting
reasonably and after consultation with the Borrowers) specifies to be necessary, be amended to comply with any generally accepted conventions and market practice in the Relevant Interbank Market and otherwise to reflect the change in currency.

  

	29.	 SET-OFF 

A Finance Party may set off any matured obligation due from an Obligor under the Finance Documents (to the extent beneficially owned by that
Finance Party) against any matured obligation owed by that Finance Party to that Obligor, regardless of the place of payment, booking branch or currency of either obligation. If the obligations are in different currencies, the Finance Party may
convert either obligation at a market rate of exchange in its usual course of business for the purpose of the set-off. 
  

	30.	 NOTICES 

  

	 	30.1.	 Communications in writing 

Any communication to be made under or in connection with the Finance Documents shall be made in writing and, unless otherwise stated, may be
made by fax or letter. 
  

	 	30.2.	 Addresses 

The address and fax number (and the department or officer, if any, for whose attention the communication is to be made) of each Party for any
communication or document to be made or delivered under or in connection with the Finance Documents is: 
  

	 	30.2.1.	 in the case of each Lender or any Obligor, that set out in the 2018 Amendment and Restatement Agreement
(Second); and 

  

	 	30.2.2.	 in the case of the Agent that identified in the 2018 Amendment and Restatement Agreement (Second),

 or any substitute address or fax number or department or officer as the Party may notify to the Agent (or the Agent may
notify to the other Parties, if a change is made by the Agent) by not less than 5 (five) Business Days’ notice. 
  

	 	30.3.	 Delivery 

  

	 	30.3.1.	 Any communication or document made or delivered by one person to another under or in connection with the
Finance Documents will only be effective: 

  
 84 

	 	30.3.1.1.	 if by way of fax, when received in legible form; or 

 

	 	30.3.1.2.	 if by way of letter, when it has been left at the relevant address or 5 (five) Business Days after being
deposited in the post postage prepaid in an envelope addressed to it at that address, and, if a particular department or officer is specified as part of its address details provided under clause 30.2 (Addresses), if addressed to that
department or officer. 

  

	 	30.3.2.	 Any communication or document to be made or delivered to the Agent or will be effective only when actually
received by the Agent and then only if it is expressly marked for the attention of the department or officer identified with the Agent’s signature below (or any substitute department or officer as the Agent shall specify for this purpose).

  

	 	30.3.3.	 All notices from or to an Obligor shall be sent through the Agent. 

 

	 	30.3.4.	 Any communication or document made or delivered to any Borrower in accordance with this clause will be deemed
to have been made or delivered to each of the Obligors. 

  

	 	30.4.	 Notification of address and fax number 

Promptly upon receipt of notification of an address and fax number or change of address or fax number pursuant to clause 30.2
(Addresses) or changing its own address or fax number, the Agent shall notify the other Parties. 
  

	 	30.5.	 Electronic communication 

 

	 	30.5.1.	 Any communication to be made between the Agent and a Lender under or in connection with the Finance Documents
may be made by electronic mail or other electronic means, if the Agent and the relevant Lender: 

  

	 	30.5.1.1.	 agree that, unless and until notified to the contrary, this is to be an accepted form of communication;

  

	 	30.5.1.2.	 notify each other in writing of their electronic mail address and/or any other information required to enable
the sending and receipt of information by that means; and 

  
 85 

	 	30.5.1.3.	 notify each other of any change to their address or any other such information supplied by them.

  

	 	30.5.2.	 Any electronic communication made between the Agent and a Lender will be effective only when actually received
in readable form and in the case of any electronic communication made by a Lender to the Agent only if it is addressed in such a manner as the Agent shall specify for this purpose. 

 

	 	30.6.	 English language 

 

	 	30.6.1.	 Any notice given under or in connection with any Finance Document must be in English. 

 

	 	30.6.2.	 All other documents provided under or in connection with any Finance Document must be: 

 

	 	30.6.2.1.	 in English; or 

  

	 	30.6.2.2.	 if not in English, and if so required by the Agent, accompanied by a certified English translation and, in this
case, the English translation will prevail unless the document is a constitutional, statutory or other official document. 

  

	31.	 CALCULATIONS AND CERTIFICATES  

 

	 	31.1.	 Delivery 

In any litigation or arbitration proceedings arising out of or in connection with a Finance Document, the entries made in the accounts
maintained by a Finance Party are prima facie evidence of the matters to which they relate. 
  

	 	31.2.	 Certificates and Determinations 

Any certification or determination by a Finance Party of a rate or amount under any Finance Document is, in the absence of manifest error,
conclusive evidence of the matters to which it relates. 
  

	 	31.3.	 Day count convention 

Any interest, commission or fee accruing under a Finance Document will accrue from day to day and is calculated on the basis of the actual
number of days elapsed and a year of 360 (three hundred and sixty) days or, in any case where the practice in the Relevant Interbank Market differs, in accordance with that market practice. 

  
 86 

	32.	 PARTIAL INVALIDITY 

If, at any time, any provision of the Finance Documents is or becomes illegal, invalid or unenforceable in any respect under any law of any
jurisdiction, neither the legality, validity or enforceability of the remaining provisions nor the legality, validity or enforceability of such provision under the law of any other jurisdiction will in any way be affected or impaired. 

 

	33.	 REMEDIES AND WAIVERS 

No failure to exercise, nor any delay in exercising, on the part of any Finance Party, any right or remedy under the Finance Documents shall
operate as a waiver, nor shall any single or partial exercise of any right or remedy prevent any further or other exercise or the exercise of any other right or remedy. The rights and remedies provided in this Agreement are cumulative and not
exclusive of any rights or remedies provided by law. 
  

	34.	 AMENDMENTS AND WAIVERS  

 

	 	34.1.	 Required consents 

 

	 	34.1.1.	 Subject to clause 34.2 (Exceptions) any term of the Finance Documents may be amended or waived only with
the consent of the Majority Lenders and the Borrowers and any such amendment or waiver will be binding on all Parties. 

  

	 	34.1.2.	 The Agent may effect, on behalf of any Finance Party, any amendment or waiver permitted by this clause 34.

  

	 	34.2.	 Exceptions 

  

	 	34.2.1.	 An amendment or waiver that has the effect of changing or which relates to: 

 

	 	34.2.1.1.	 the definition of “Majority Lenders” in clause 1.1 (Definitions); 

 

	 	34.2.1.2.	 an extension to the date of payment of any amount under the Finance Documents; 

 

	 	34.2.1.3.	 a reduction in the Margin or a reduction in the amount of any payment of principal, interest, fees or
commission payable; 

  

	 	34.2.1.4.	 an increase in or an extension of any Commitment; 

 

	 	34.2.1.5.	 a change to the Borrowers or Guarantors (other than in accordance with clause 24 (Changes to the
Obligors)); 

  
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	 	34.2.1.6.	 any provision which expressly requires the consent of all the Lenders; 

 

	 	34.2.1.7.	 clause 2.2 (Finance Parties’ rights and obligations), clause 23 (Changes to the Lenders) or
this clause 34, shall not be made without the prior consent of all the Lenders. 

  

	 	34.2.2.	 An amendment or waiver which relates to the rights or obligations of the Agent may not be effected without the
consent of the Agent. 

  

	 	34.2.3.	 An amendment or waiver which has the effect of obliging any Lender which has a Commitment to make a
participation in a proposed Loan when it would not otherwise be obliged to do so under this Agreement, shall not be made without the prior consent of a Lender or Lenders whose participations in that Loan (assuming that Utilisation would occur) would
aggregate more than 662/3 percent of the amount of that Utilisation under the Facility. 

  

	35.	 COUNTERPARTS 

Each Finance Document may be executed in any number of counterparts, and this has the same effect as if the signatures on the counterparts were
on a single copy of the Finance Document. 
  

	36.	 GOVERNING LAW 

This Agreement and any non-contractual obligations arising out of or in connection with it is governed
by English law. 
  

	37.	 ENFORCEMENT 

  

	 	37.1.	 Jurisdiction 

  

	 	37.1.1.	 The courts of England have exclusive jurisdiction to settle any dispute arising out of or in connection with
this Agreement (including a dispute regarding the existence, validity or termination of this Agreement) (a “Dispute”). 

  

	 	37.1.2.	 The Parties agree that the courts of England are the most appropriate and convenient courts to settle Disputes
and accordingly no Party will argue to the contrary. 

  
 88 

	 	37.1.3.	 This clause 37.1 is for the benefit of the Finance Parties only. As a result, no Finance Party shall be
prevented from taking proceedings relating to a Dispute in any other courts with jurisdiction. To the extent allowed by law, the Finance Parties may take concurrent proceedings in any number of jurisdictions. 

 

	 	37.2.	 Service of process 

 

	 	37.2.1.	 Without prejudice to any other mode of service allowed under any relevant law, each Obligor (other than an
Obligor incorporated in England and Wales): 

  

	 	37.2.1.1.	 irrevocably appoints Law Debenture Corporate Services Limited of 100 Wood Street, London EC2V 7EX as its agent
for service of process in relation to any proceedings before the English courts in connection with any Finance Document; and 

  

	 	37.2.1.2.	 agrees that failure by an agent for service of process to notify the relevant Obligor of the process will not
invalidate the proceedings concerned. 

  

	 	37.2.2.	 The Original Lender and the Agent irrevocably appoints Standard Bank Plc, 20 Gresham Street, London, EC2V 7JE
as its agent for service of process in relation to any proceedings before the English courts in connection with any Finance Document. 

This Agreement has been entered into on the date stated at the beginning of this Agreement. 

  
 89 

 Schedule 1 

THE ORIGINAL PARTIES 

PART I 
 THE OBLIGORS

  

			
	Name of Borrowers	  	Registration number (or equivalent, if any)
		
	Abosso Goldfields Limited	  	CS592552015
		
	Gold Fields Ghana Limited	  	CS592542015

  

			
	Name of Original Guarantors	  	Registration number (or equivalent, if any)
		
	Abosso Goldfields Limited	  	CS592552015
		
	Gold Fields Ghana Limited	  	CS592542015

 PART II 

THE ORIGINAL LENDER 
  

									
	 Name of Original Lender
	  	Facility US$ Commitment	 	  	Total US$ Commitment	 
	 The Standard Bank of South Africa Limited (acting through its Isle of Man branch)
	  	 	100 000 000	 	  	 	100 000 000	 

  
 2 

 Schedule 2 

CONDITIONS PRECEDENT 

PART 1 
 CONDITIONS
PRECEDENT TO INITIAL UTILISATION 
  

	1.	 Obligors 

  

	 	1.1.	 Certified copies of the constitutional documents of each Obligor. 

 

	 	1.2.	 A copy of a resolution of the board of directors of each Obligor: 

 

	 	1.2.1.	 approving the terms of, and the transactions contemplated by, the Finance Documents to which it is a party and
resolving that it executes the Finance Documents to which it is a party; 

  

	 	1.2.2.	 authorising a specified person or persons to execute the Finance Documents to which it is a party on its
behalf; and 

  

	 	1.2.3.	 authorising a specified person or persons, on its behalf, to sign and/or dispatch all documents and notices
(including, if relevant, any Utilisation Request) to be signed and/or dispatched by it under or in connection with the Finance Documents to which it is a party. 

 

	 	1.3.	 A specimen of the signature of each person authorised by the resolution referred to in clause 1.2 above.

  

	2.	 Legal opinions 

 

	 	2.1.	 A legal opinion of Bowman Gilfillan Inc., legal advisers to the Agent as to English law, substantially in the
form distributed to The Standard Bank of South Africa Limited (acting through its Corporate and Investment Banking Division) prior to signing the Original Facility Agreement. 

 

	 	2.2.	 A legal opinion of Oxford and Beaumont Solicitors, legal advisers to the Agent as to Ghanaian law,
substantially in the form distributed to The Standard Bank of South Africa Limited (acting through its Corporate and Investment Banking Division) prior to signing the Original Facility Agreement. 

	3.	 Other documents and evidence 

 

	 	3.1.	 Duly executed certified copies of all of the Finance Documents. 

 

	 	3.2.	 Evidence that any agent for service of process referred to in clause 37.2 (Service of process)
has accepted its appointment. 

  

	 	3.3.	 The latest audited consolidated financial statements of each Obligor. 

 

	 	3.4.	 A copy of any authorisation or consent (to include any relevant corporate, regulatory and shareholder consent)
which the Agent considers to be necessary or desirable in connection with the entry into and performance of the transactions contemplated by this Agreement or for the validity and enforceability of any Finance Document. 

 

	 	3.5.	 All documentation and information required by The Standard Bank of South Africa Limited (acting through its
Corporate and Investment Banking Division) in relation to each Obligor to enable it to comply with is “know your customer” procedures. 

  

	 	3.6.	 A certificate from the Chief Financial Officer of each Borrower, certifying that such Borrower has no
subsidiaries on the Signing Date. 

  
 2 

 Part II 

CONDITIONS PRECEDENT REQUIRED TO BE DELIVERED BY AN ADDITIONAL GUARANTOR 

 

	1.	 An Accession Letter, duly executed by the Additional Guarantor and the Borrowers. 

 

	2.	 Certified copies of the constitutional documents of the Additional Guarantor. 

 

	3.	 A copy of a resolution of the board of directors of the Additional Guarantor: 

 

	 	3.1.	 approving the terms of, and the transactions contemplated by, the Accession Letter and the Finance Documents
and resolving that it execute the Accession Letter; 

  

	 	3.2.	 authorising a specified person or persons to execute the Accession Letter on its behalf; and

  

	 	3.3.	 authorising a specified person or persons, on its behalf, to sign and/or dispatch all other documents and
notices to be signed and/or despatched by it under or in connection with 

  

	 	3.4.	 the Finance Documents. 

 

	4.	 A specimen of the signature of each person authorised by the resolution referred to in clause 3 above.

  

	5.	 A copy of a resolution signed by all the holders of the issued shares of the Additional Guarantor, approving
the terms of, and the transactions contemplated by, the Finance Documents to which the Additional Guarantor is a party. 

  

	6.	 A certificate of an authorised signatory of the Additional Guarantor certifying that each copy document listed
in this Part II of Schedule 2 is correct, complete and in full force and effect as at a date no earlier than the date of the Accession Letter. 

  

	7.	 A copy of any other Authorisation or other document, opinion or assurance which the Agent considers to be
necessary or desirable in connection with the entry into and performance of the transactions contemplated by the Accession Letter or for the validity and enforceability of any Finance Document. 

 

	8.	 If available, the latest audited financial statements of the Additional Guarantor. 

 

	9.	 If the Additional Guarantor is incorporated in a jurisdiction other than England and Wales, evidence that the
agent for service of process specified in clause 37.2 (Service of process) has accepted its appointment in relation to the proposed Additional Guarantor. 

  
 3 

 Schedule 3 

UTILISATION REQUEST 
 From: Gold Fields
Ghana Limited / Abosso Goldfields Limited 
 To: The Standard Bank of South Africa Limited (acting through its Isle of Man branch)1 
 Dated: [●] 
 Dear Sirs 

Gold Fields Ghana Limited, Abosso Goldfields Limited - US$100 000 000 Revolving Credit Facility originally dated 22 December 2010, as amended by the
2014 Amendment and Restatement Agreement, the 2016 Amendment and Restatement Agreement, the 2017 Amendment and Restatement Agreement, the 2018 Amendment and Restatement Agreement (First) and further amended by the 2018 Amendment and Restatement
Agreement dated [**********] 2018 (the “Agreement”) 
  

	1.	 We refer to the Agreement. This is an Utilisation Request. Terms defined in the Agreement have the same meaning
in this Utilisation Request unless given a different meaning in this Utilisation Request. 

  

	2.	 We wish to borrow a Loan on the following terms: 

 

					
	Proposed Utilisation Date:	  	[●]	  	(or, if that is not a Business Day, the next Business Day)
		
	Currency of Loan:	  	Dollars
			
	Amount:	  	[●]	  	
			
	Interest Period:	  	[●]	  	

  

	3.	 We confirm that each condition specified in clause 4.4 (Further conditions precedent) is
satisfied on the date of this Utilisation Request. 

  

	4.	 The proceeds of this Loan should be credited to [account]. 

 

	5.	 This Utilisation Request is irrevocable. 

 

	1 	 If the Agent Appointment Date has occurred, to be addressed to THE STANDARD BANK OF SOUTH AFRICA LIMITED
(ACTING THROUGH ITS CORPORATE AND INVESTMENT BANKING DIVISION). 

	
	Yours faithfully
	
	  
  
  

 

	
	authorised signatory for
	
	Gold Fields Ghana Limited
	
	  
  
  

 

	
	authorised signatory for
	
	Abosso Goldfields Limited

 Schedule 4 

FORM OF TRANSFER CERTIFICATE 
 To: The
Standard Bank of South Africa Limited (acting through its Corporate and Investment Banking Division) as Agent 
 From: [The Existing Lender] (the
“Existing Lender”) and [The New Lender] (the “New Lender”) 
 Dated: [●]

 Gold Fields Ghana Limited, Abosso Goldfields Limited - US$100 000 000 Revolving Credit Facility originally dated 22 December 2010,
as amended by the 2014 Amendment and Restatement Agreement, the 2016 Amendment and Restatement Agreement, the 2017 Amendment and Restatement Agreement, the 2018 Amendment and Restatement Agreement (First) and further amended by the 2018 Amendment
and Restatement Agreement dated [**********] 2018 (the “Agreement”) 
  

	1.	 We refer to the Agreement. This is a Transfer Certificate. Terms defined in the Agreement have the same meaning
in this Transfer Certificate unless given a different meaning in this Transfer Certificate. 

  

	2.	 We refer to clause 23.4 (Procedure for transfer): 

 

	 	2.1.	 The Existing Lender and the New Lender agree to the Existing Lender transferring to the New Lender by novation
all or part of the Existing Lender’s Commitment, rights and obligations referred to in the Schedule in accordance with clause 23.4 (Procedure for transfer). 

 

	 	2.2.	 The proposed Transfer Date is [●]. 

 

	 	2.3.	 The Facilities Office and address, fax number and attention details for notices of the New Lender for the
purposes of clause 30.2 (Addresses) are set out in the Schedule. 

  

	3.	 The New Lender expressly acknowledges the limitations on the Existing Lender’s obligations set out in
clause 23.3.3 (Limitation of responsibility of Existing Lenders). 

  

	4.	 This Transfer Certificate may be executed in any number of counterparts and this has the same effect as if the
signatures on the counterparts were on a single copy of this Transfer Certificate. 

  

	5.	 This Transfer Certificate is governed by English law. 

 THE SCHEDULE 

COMMITMENT/RIGHTS AND OBLIGATIONS TO BE TRANSFERRED 

[insert relevant details] 
 [Facility Office address,
fax number and attention details for notices and account details for payments,] 
  

									
	[Existing Lender]	 	                        	  	[New Lender]
					
	By:	 	            	 		  	By:	  	                

 This Transfer Certificate is accepted by the Agent and the Transfer Date is confirmed as [●]. [●] 

 

			
	By:	 	                

  
 2 

 Schedule 5 

FORM OF ACCESSION LETTER 
 To: The
Standard Bank of South Africa Limited (acting through its Isle of Man branch)2 
 From: [●] 

Dated: [●] 
 Dear Sirs 

Gold Fields Ghana Limited, Abosso Goldfields Limited - US$100 000 000 Revolving Credit Facility originally dated 22 December 2010, as
amended by the 2014 Amendment and Restatement Agreement, the 2016 Amendment and Restatement Agreement, the 2017 Amendment and Restatement Agreement, the 2018 Amendment and Restatement Agreement (First) and further amended by the 2018 Amendment and
Restatement Agreement dated [**********] 2018 (the “Agreement”) 
  

	1.	 We refer to the Agreement. This is an Accession Letter. Terms defined in the Agreement have the same meaning in
this Accession Letter unless given a different meaning in this Accession Letter. 

  

	2.	 [Subsidiary] agrees to become an Additional Guarantor and to be bound by the terms of the Agreement as an
Additional Guarantor pursuant to clause 24.2 (Additional Guarantors) of the Agreement. [Subsidiary] is a wholly owned Subsidiary of the Borrower duly incorporated under the laws of [name of relevant jurisdiction].

  

	3.	 [Specify purpose of the Loan]. 

 

	4.	 [Subsidiary’s] administrative details are as follows: 

Address: [●] 
 Fax No:
[●] 
 Attention: [●] 

 

	2 	 If the Agent Appointment Date has occurred, to be addressed to THE STANDARD BANK OF SOUTH AFRICA LIMITED
(ACTING THROUGH ITS CORPORATE AND INVESTMENT BANKING DIVISION), as Agent 

	5.	 This Accession Letter is governed by English law. 

 

			
	[●]	  	[●]
		
	By:	  	By:

  
 2 

 Schedule 6 

FORM OF RESIGNATION LETTER 
  

	To:	 The Standard Bank of South Africa Limited (acting through its Isle of Man branch)3 

  

	From:	 [Resigning Obligor] and [●] 

Dated: [●] 
 Dear Sirs 

Gold Fields Ghana Limited, Abosso Goldfields Limited - US$100 000 000 Revolving Credit Facility originally dated 22 December 2010, as amended by the
2014 Amendment and Restatement Agreement, the 2016 Amendment and Restatement Agreement, the 2017 Amendment and Restatement Agreement and further amended by the 2018 Amendment and Restatement Agreement dated [***********] 2018 (the
“Agreement”) 
  

	1.	 We refer to the Agreement. This is a Resignation Letter. Terms defined in the Agreement have the same meaning
in this Resignation Letter unless given a different meaning in this Accession Letter. 

  

	2.	 Pursuant to clause 24.4 (Resignation of an Additional Guarantor), we request that [resigning Obligor] be
released from its obligations as a Guarantor under the Agreement. 

  

	3.	 We confirm that no default is continuing or would result from the acceptance of this request.

  

	4.	 This Resignation Letter is governed by English law. 

 

			
	[●]	  	[●]
		
	By:	  	By:

  

	3 	 If the Agent Appointment Date has occurred, to be addressed to THE STANDARD BANK OF SOUTH AFRICA LIMITED
(ACTING THROUGH ITS CORPORATE AND INVESTMENT BANKING DIVISION), as Agent 

 Schedule 7 

FORM OF COMPLIANCE CERTIFICATE 
  

	To:	 The Standard Bank of South Africa Limited (acting through its Isle of Man branch)4 

  

	From:	 [●] [Insert name of Obligor] 

Dated: [●] 
 Dear Sirs 

Gold Fields Ghana Limited, Abosso Goldfields Limited - US$100 000 000 Revolving Credit Facility originally dated 22 December 2010, as amended by the
2014 Amendment and Restatement Agreement, the 2016 Amendment and Restatement Agreement, the 2017 Amendment and Restatement Agreement and further amended by the 2018 Amendment and Restatement Agreement dated [***********] 2018 (the
“Agreement”) 
  

	1.	 We refer to the Agreement. This is a Compliance Certificate. Terms defined in the Agreement have the same
meaning when used in this Compliance Certificate unless given a different meaning in this Compliance Certificate. 

  

	2.	 We confirm that as at [● ]: 

 

	 	2.1.	 the ratio of Consolidated EBITDA to Consolidated Net Finance Charges in respect of the Measurement Period
ending on [●] was: [●]; and 

  

	 	2.2.	 the ratio of Consolidated Net Borrowings to Consolidated EBITDA in respect of the Measurement Period ending on
[●] was: [●], and attach calculations showing how these figures were calculated. 

  

	3.	 We confirm that no Default is continuing. 

 

	4 	 If the Agent Appointment Date has occurred, to be addressed to THE STANDARD BANK OF SOUTH AFRICA LIMITED
(ACTING THROUGH ITS CORPORATE AND INVESTMENT BANKING DIVISION). 

					
	Signed:	 	                    	  	
			
	  
	 		  	  

			
	Director	 		  	Director
			
	Of	 		  	Of
			
	[●]	 		  	[●]
			
	[insert applicable certification language]	 		  	
			
	[or and on behalf of [name of auditors of [●]	 		  	
			
	Signed:	 		  	
			
	  
	 		  	  

			
	Director	 		  	Director
			
	Of	 		  	Of
			
	[●]]	 		  	[●]
			
	[insert applicable certification language]	 		  	
			
	[or and on behalf of [name of auditors of [●]	 		  	

 Schedule 8 

TIMETABLE 
 * 

 

			
	“U” = the date of utilisation	  	
		
	“U – X” = X Business Days prior to date of Utilisation	  	
		
	Delivery of a duly completed Utilisation Request (clause 5.1)	  	U-3*
		
	(Delivery of a Utilisation Request)	  	10.00a.m.
		
	Agent notifies the Lenders of the Loan in accordance with clause 5.4	  	U-3*
		
	(Lender’s participation)	  	3.00p.m.
		
	LIBOR is fixed (London time)	  	U-2**
		
		  	11.00a.m.

  

	*	 provided that, in respect of the first Utilisation only, the Specified Time shall be U-2 

	**	 provided that, in respect of the first Utilisation only, the Specified Time shall be U-1 

 Schedule 9 

PERMITTED TRANSFEREES 
 First Rand Limited

 RMB 
 Nedbank 

ABSA 
 The Standard Bank of South Africa Limited 

Royal Bank of Scotland 
 Standard Chartered Bank 

JP Morgan 
 Goldman Sachs 

Lloyds 
 Barclays 

Omsfin 
 Libfin 

Industrial and Commercial Bank of China 
 Bank of China 

China Construction Bank 
 Bank of Taiwan 

Bank of America Merrill Lynch 
 HSBC 

Citibank 
 Calyon (Credit Agricole Corporate and Investment
Bank) 
 Commerze 

 Sumitomo Mitsubishi Banking Corporation 

Deutsche Bank 
 Natixis 

Bank of Tokyo Mitsubishi - UFJ 
 Any affiliates, subsidiaries or
holding companies of, or any bona fide and established trust or fund or other entity which is regularly engaged in or established for the purposes of making, purchasing or investing in loans, securities or other financial assets managed by,
any of the banks or financial institutions listed above that are not hedge funds. 

  
 2 

 TABLE OF CONTENTS 
  

							
	 Clause number and description
	  	Page	 
			
	 1.
	 	DEFINITIONS AND INTERPRETATION	  	 	3	 
			
	 2.
	 	CONDITIONS PRECEDENT	  	 	4	 
			
	 3.
	 	REPRESENTATIONS	  	 	5	 
			
	 4.
	 	AMENDMENT AND RESTATEMENT	  	 	5	 
			
	 5.
	 	GUARANTEE CONFIRMATION	  	 	5	 
			
	 6.
	 	CONTINUITY AND FURTHER ASSURANCE	  	 	6	 
			
	 7.
	 	FEES, COSTS AND EXPENSES	  	 	6	 
			
	 8.
	 	MISCELLANEOUS	  	 	6	 
			
	 9.
	 	GOVERNING LAW	  	 	7	 
			
	 1.
	 	DEFINITIONS AND INTERPRETATION	  	 	2	 
			
	 2.
	 	THE FACILITY	  	 	23	 
			
	 3.
	 	PURPOSE	  	 	25	 
			
	 4.
	 	CONDITIONS OF UTILISATION	  	 	25	 
			
	 5.
	 	UTILISATION	  	 	26	 
			
	 6.
	 	REPAYMENT	  	 	27	 
			
	 7.
	 	PREPAYMENT AND CANCELLATION	  	 	27	 
			
	 8.
	 	INTEREST	  	 	32	 
			
	 9.
	 	INTEREST PERIODS	  	 	34	 
			
	 10.
	 	CHANGES TO THE CALCULATION OF INTEREST	  	 	34	 
			
	 11.
	 	FEES	  	 	36	 
			
	 12.
	 	TAX GROSS UP AND INDEMNITIES	  	 	36	 
			
	 13.
	 	INCREASED COSTS	  	 	39	 
			
	 14.
	 	OTHER INDEMNITIES	  	 	40	 
			
	 15.
	 	MITIGATION BY THE LENDERS	  	 	41	 
			
	 16.
	 	COSTS AND EXPENSES	  	 	42	 
			
	 17.
	 	GUARANTEE AND INDEMNITY	  	 	43	 
			
	 18.
	 	REPRESENTATIONS	  	 	46	 

							
			
	 19.
	 	UNDERTAKINGS	  	 	51	 
			
	 20.
	 	FINANCIAL COVENANTS	  	 	55	 
			
	 21.
	 	GENERAL UNDERTAKINGS	  	 	57	 
			
	 22.
	 	EVENTS OF DEFAULT	  	 	61	 
			
	 23.
	 	CHANGES TO THE LENDERS	  	 	66	 
			
	 24.
	 	CHANGES TO THE OBLIGORS	  	 	71	 
			
	 25.
	 	ROLE OF THE AGENT	  	 	72	 
			
	 26.
	 	CONDUCT OF BUSINESS BY THE FINANCE PARTIES	  	 	79	 
			
	 27.
	 	SHARING AMONG THE FINANCE PARTIES	  	 	79	 
			
	 28.
	 	PAYMENT MECHANICS	  	 	81	 
			
	 29.
	 	SET-OFF	  	 	84	 
			
	 30.
	 	NOTICES	  	 	84	 
			
	 31.
	 	CALCULATIONS AND CERTIFICATES	  	 	86	 
			
	 32.
	 	PARTIAL INVALIDITY	  	 	87	 
			
	 33.
	 	REMEDIES AND WAIVERS	  	 	87	 
			
	 34.
	 	AMENDMENTS AND WAIVERS	  	 	87	 
			
	 35.
	 	COUNTERPARTS	  	 	88	 
			
	 36.
	 	GOVERNING LAW	  	 	88	 
			
	 37.
	 	ENFORCEMENT	  	 	88	 
		
	 Annexure A
	  	 	1	 
		
	 Annexure B
	  	 	1	 
		
	 Schedule 1
	  	 	1	 
		
	 Schedule 2
	  	 	1	 
		
	 Schedule 3
	  	 	1	 
		
	 Schedule 4
	  	 	1	 
		
	 Schedule 5
	  	 	1	 
		
	 Schedule 6
	  	 	1	 
		
	 Schedule 7
	  	 	1	 
		
	 Schedule 8
	  	 	1	 
		
	 Schedule 9
	  	 	1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00307-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00307-of-00352.parquet"}]]