Publication: Magyar Közlöny
Issue: MK-2005-160 (Year: 2005, Number: 160)
Era: 2004-2010
Section: 2001. évi CI. törvény ben (a továb biak ban: fel nõtt kép zés -
Paragraph Index: 1581

c) In case the Hun gar ian Party agrees, it will, through dip lo matic chan nels, con firm in writ ing the ex port con tract ap proved by the Party of Montenegro. Article 6 Disbursement of the tied aid credits De tailed con di tions of the tied aid cred its pro vided to fi nance the pro jects ac cepted by the Con tract ing Par ties 2005/160. szám are to be stip u lated in the par tic u lar credit agree ments be tween the bor rower(s) authorised by the Gov ern ment of the Re pub lic of Montenegro in ac cor dance with the pro vi sions laid down in Ar ti cle 7 on the one part and Eximbank as the creditor on the other. Eximbank, for the ac count of its own re sources lends, up to the amount of credit line agreed in this Agree ment, concessional cred its to the bor row ers authorised by the Gov ern ment of the Re pub lic of Montenegro for the reali sa tion of the ac cepted pro jects. The mea sure of the fi nanc ing is 100 per cent of the value of the ac cepted pro jects and the amount of the grant elements. Com mer cial and po lit i cal risks of the tied aid cred its will be in sured by the Hun gar ian Ex port Credit In sur ance Ltd. (fur ther on: MEHIB). Eximbank and MEHIB, in ac cor dance with the in ter na tional ob li ga tions, no tify be fore hand their in ten tion to lend tied aid cred its re lated to the par tic u lar pro jects. Af ter suc cess ful ex e cu tion of the pro ce dure of ap proval Eximbank gives notes to the im porter/buyer and the ex porter, and the Con tract ing Parties, respectively. Article 7 Conditions of particular credit agreements The Gov ern ment of the Re pub lic of Montenegro is sues a sov er eign guar an tee or ac cepts a pay ment ob li ga tion equal to a sov er eign guar an tee ac cord ing to the Laws of the Re pub lic of Montenegro se cur ing the re pay ment of the cred its, the pay ment of in ter ests and ad di tional charges based on the pres ent tied aid credit line in the case of every project. The Re pub lic of Montenegro shall set aside the amount of its pay ment ob li ga tion in the ac tual year in its state bud get. Eximbank and MEHIB shall con clude a credit in sur ance con tract com ply ing with the con di tions fixed by the Hun gar ian law in force. Article 8 Taxes, fees The Con tract ing Par ties are obliged to pay the taxes, fees and other pub lic charges aris ing on the ba sis of the ex e cu tion of this Agree ment in their own coun try. These costs can not be paid from the in di vid ual tied aid cred its and they can not be separated. Costs aris ing dur ing the par tic u lar credit agree ments shall be paid by the par ties of the credit agree ments in their own coun try and they can not be charged on the in di vid ual tied aid credits. Dur ing the re im burse ment of the loan and the pay ment of the in ter est the amounts to be paid can not be de creased by the tax lev ied by the Re pub lic of Montenegro or other amounts aris ing as a re sult of other pay ment obligations. Article 9 Dispute Settlement The Con tract ing Par ties shall set tle any dis pute in con nec tion with this Agree ment in the course of di rect ne go ti a tions. Article 10 Governing Law The par tic u lar credit agree ments shall be gov erned by the laws of the Re pub lic of Hun gary. Article 11 Closing Provisions

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