natgillin/translations-raw huggingface dataset:
No increase will be allowed in this respect.
Sprememba pravne podlage pomeni, da (i) Urad za jedrsko regulacijo (ali njegov naslednik) obrata za proizvodnjo ne ureja več z oceno, ali bi bila žrtev, potrebna za zmanjšanje tveganja, močno nesorazmerna z doseženo koristjo; ali (ii) zadevna agencija za okolje (ali njen naslednik) možnosti zmanjševanja tveganja v zvezi z obratom za proizvodnjo ne ocenjuje več za sprejemljivo okoljsko tveganje v zvezi s tem, ali so stroški izvedbe nesorazmerni uresničeni koristi za okolje.
There will be a one-off forward-looking adjustment to the SP for Business Rates following the official reassessment by the Valuation Office after the plant operations start.
Odškodnina v zvezi s QCIL se bo izplačala takrat, ko skupni znesek vseh terjatev iz naslova QCIL preseže 50 milijonov GBP v nominalnih in indeksiranih pogojih za leto 2012.
Subsequent changes to Business Rates will take place through the opex reopeners.
Dvojne izterjave ne bodo dovoljene.
In addition to the provision of information contemplated in the generic CfD standard terms, NNBG will be required to provide certain warranties in respect of the information contained in the data and models provided to the UK Government in respect of the costs of the project.
Izvršilna cena bo prilagojena le enkrat za določen QCIL med preostalim trajanjem pogodbe, in sicer s pomočjo dogovorjenega finančnega modela ali z izračunom neto sedanje vrednosti potrebne prilagoditve.
The contract will make provision for the use of an agreed Financial Model to determine the various SP and other adjustments required by its terms.
Podjetje NNBG bo v skladu s pogoji prejelo odškodnino v primeru „politične“ zaustavitve elektrarne HPC (bodisi s strani Združenega kraljestva, EU bodisi mednarodnega pristojnega organa), razen iz razlogov, ki vključujejo zdravje, jedrsko varnost, varnost, okoljske zaščitne ukrepe, zaščitne ukrepe pri jedrskem prevozu ali jedrske nadzorne ukrepe (kvalificiran dogodek zaustavitve).
NNBG will be protected and may recover some costs for Qualifying Changes in Law (‘QCIL’).
Odškodnina bo mogoča tudi, če bodo obrat za proizvodnjo zaustavili zaradi okoliščin zavarovanja jedrske odgovornosti tretje strani, tudi če vlada Združenega kraljestva ne bo odobrila alternativnih ureditev zavarovanja, ki jih predlaga proizvajalec, ko bi vlada Združenega kraljestva to morala storiti, proizvajalec pa nima drugih odobrenih možnosti zavarovanja.
A QCIL is a Discriminatory Change in Law, a Specific Change in Law, a Specific Tax Change in Law, an Other Change in Law, or a Change in Regulatory Basis, in each case which is not foreseeable.
Zaščitni ukrepi za kvalificiran dogodek zaustavitve poleg plačila odškodnine nasprotne stranke pogodbe na razliko ali vlade Združenega kraljestva vključuje pravico do prenosa podjetja NNBG na vlado Združenega kraljestva (in pravico vlade, da prenos zahteva).
A Discriminatory Change in Law is a change in law the terms of which specifically (and not merely indirectly or consequentially or by virtue of the disproportionate effect of any Change in Law that is of general application) apply to the project, the generation facility or NNBG, but not otherwise.
Dogodki prenehanja veljajo le za podjetje NNBG.
A Specific Change in Law is a change in law the terms of which specifically (and not merely indirectly or consequentially or by virtue of the disproportionate effect of any Change in Law that is of general application) apply to nuclear generation facilities, or generation facilities subject to a CfD.
Nasprotna stranka pogodbe na razliko se odloči, ali bo prekinila pogodbo po nastanku upravičenega dogodka prenehanja.
A Specific Tax Change in Law is (i) a change in, or new, tax imposed on uranium; or (ii) a change in law or HMRC practice which results in NNBG's tax treatment being less favourable than those set out in certain specific tax clearances from HMRC.
KREDITNO JAMSTVO
A Change in Regulatory Basis is where (i) the ONR (or successor regulator) no longer regulates the generation facility by assessment of whether a sacrifice required for risk reduction would be grossly disproportionate to the benefit that would be achieved; or (ii) the relevant Environment Agency (or successor regulator) no longer assesses a risk reduction option in respect of the generation facility as an acceptable environmental risk by reference to whether the costs of implementation are disproportionate to the environmental benefit it realises.
Projekt HPC in zlasti podjetje NNBG ne bosta imela koristi le od pogodbe na razliko, temveč tudi od državnega kreditnega jamstva za izdani dolg (v nadaljnjem besedilu: kreditno jamstvo).
Compensation in respect of QCILs will only be payable once the aggregate amount of all QCIL claims exceeds GBP 50 million in 2012 nominal and indexed terms.
Izdane obveznice bodo podprte s kreditnim jamstvom.
Double recoveries will not be permitted.
Kreditno jamstvo je mogoče šteti za zavarovalno pogodbo, ki zagotavlja pravočasno poplačilo glavnice in obresti na kvalificiran dolg, kar lahko znese tudi 17 milijard GBP [8].
The SP will be adjusted once only for any particular QCIL during the remaining term of the contract, using the agreed Financial Model, or by calculating the net present value of the adjustment required.
Kreditno jamstvo bo zagotovil Infrastructure UK (v nadaljnjem besedilu: oddelek IUK), oddelek finančnega ministrstva Združenega kraljestva, ki nadzoruje upravljanje jamstvenih shem Združenega kraljestva.
NNBG will, subject to conditions, receive compensation in the event of a ‘political’ shutdown of HPC (by either a UK, EU or international competent authority) other than for certain reasons including health, nuclear safety, security, environmental, nuclear transport or nuclear safeguards (Qualifying Shutdown Event).
Kreditno jamstvo je celovita platforma za upravljanje dolga za dolgoročno financiranje elektrarne HPC.
Compensation will also be available if the generation facility is shut down due to nuclear third party liability insurance circumstances including as a result of the UK Government not approving alternative insurance arrangements proposed by the Generator when the UK Government ought reasonably to have done and there being no other approved insurance options open to the Generator.
Oddelek IUK meni, da je bila transakcija strukturirana tako, da upravičuje uvrstitev v vrsto tveganja, za HPC enakovredno oceni BB+/Ba1.
The Qualifying Shutdown Event protections include the right to transfer NNBG to the UK Government (and for the UK Government to call for transfer) in addition to the payment of compensation by the CfD Counterparty or the UK Government.
Provizija za jamstvo bo znašala 295 bazičnih točk.
Termination events apply only to NNBG.
Po shemi bodo obveznice, ki se bodo izdale v okviru strukture financiranja, podprte z jamstvom, ki ga izdajo lordi komisarji (Lords Commissioners) finančnega ministrstva Združenega kraljestva (porok).
It is the CfD Counterparty's decision whether to terminate the contract upon the occurrence of a matured termination event.
Vključeno je tudi premostitveno posojilo za gradnjo, ki ga bodo zagotovile komercialne banke (in ga jamstvena shema Združenega kraljestva ne zajema).
CREDIT GUARANTEE
Preostanek kapitala za transakcijo bodo zagotovili delničarji.
The HPC project, and NNBG in particular, will not only benefit from the CfD but also from a State Credit Guarantee on the debt it issues (the ‘Credit Guarantee’).
S soglasjem poroka je strukturi financiranja mogoče dodati še druge vire kapitala.
Bonds to be issued will be supported by the Credit Guarantee.
V času sklepa so načrtovani naslednji viri financiranja:
The latter could be seen as an insurance contract, guaranteeing the timely payment of principal and interest of qualifying debt, which could reach up to 17 billion pounds.
osnovni lastniški kapital v višini […] GBP;
[8]
pogojni kapital v višini […] GBP;
The Credit Guarantee will be provided by the Infrastructure UK (‘IUK’), a Unit within the UK Treasury which oversees the administration of the UK Guarantees scheme.
premostitveno posojilo za gradnjo v višini […] GBP;
The Credit Guarantee is a whole-business style debt platform for the long-term financing of HPC.
obveznice v višini […] GBP.
IUK considers that transaction has been structured in a manner that justifies a classification at a BB+/Ba1 equivalent risk category for HPC.
Struktura financiranja je oblikovana tako, da osnovni lastniški kapital utrpi vse izgube, preden izgube utrpijo obveznice.
The Guarantee fee will have a level of 295 basis points.
Pogojni kapital zagotavlja dodatno zagotovilo, da bo nastopil datum, ko bo porok pomirjen, da je med drugim prišlo do začetka obratovanja jedrske elektrarne HPC, da je ta usposobljena za delovanje in da so vse potrebne rezerve v celoti financirane (v nadaljnjem besedilu: finančni zaključek).
Under the scheme, the Bonds to be issued as part of the financing structure will be supported by a guarantee to be issued by the Lords Commissioners of the UK Treasury (the Guarantor).
Obveznosti delničarjev v zvezi z lastniškim kapitalom bodo določene v sporazumu o prispevanju kapitala, katerega podpisnik bo tudi porok, tako da bo imel zaveze v zvezi z zagotavljanjem kapitala.
A construction bridge facility to be provided by commercial banks (and not guaranteed under the UK Guarantees Scheme) is also included.
Za zagotovitev, da ima lastniški kapital v primeru neporavnave obveznosti zgoraj opisane lastnosti absorpcije izgube, so stranke določile dva pogoja (pogoj iz osnovnega scenarija [9] in pogoj ob neizpolnjevanju FFS [10]), ki poroku omogočata, da zahteva pospešitev osnovnega lastniškega kapitala ali pospešitev pogojnega kapitala, tj. takojšnja razpoložljivost za poplačilo obveznic in zneskov, dolgovanih poroku.
The remainder of the capital committed to the transaction will be provided by the shareholders.
Ta kombinacija določb naj bi zagotovila, da delničarji in ne porok obdržijo glavno izpostavljenost do sposobnosti preživetja tehnologije EPR, dokler ni objektivnih dokazov o zaupanju, razvidnih iz uspeha predhodnih projektov, kot sta Flamanville 3 in Taishan 1.
Other sources of capital may be added to the financial structure with the consent of the Guarantor.
V obdobju do izpolnitve pogoja iz osnovnega scenarija velja, da mora biti omejitev zneska črpanega dolga najmanj: mejna omejitev dolga za zadevni mejnik projekta in […] odstotkov osnovnega lastniškega kapitala minus razvojni lastniški kapital, tj. […] milijard GBP.
The funding sources at the time of the decision are planned as follows:
Preglednica 1 prikazuje praktični primer značilnosti lastniškega kapitala za absorpcijo izgube:
Base Equity of GBP […]
Preglednica 1
Contingent Equity of GBP […]
Profil črpanja v osnovnem scenariju in pogoj iz osnovnega scenarija ni izpolnjen
Construction Bridge Facility up to GBP […]
Vir: Podatki oddelka IUK z dne 12. septembra 2014.
Bonds for GBP […].
Ko je pogoj iz osnovnega scenarija izpolnjen, je glavna zaščita poroka v času gradnje znesek pogojnega kapitala, ki ga je mogoče črpati za prekoračitve stroškov, skupaj z mejniki projekta, ki omejujejo znesek dolga v posameznih obdobjih.
The financing structure is set-up so that the Base Equity suffers a total loss before the Bonds suffer any loss.
Zaveze delničarjev v zvezi z lastniškim kapitalom in pogojnim kapitalom bodo v celoti kreditno podprte z instrumenti, vključno z, a ne omejeno na jamstva matičnega podjetja, akreditive ali drugo kreditno podporo, ki je sprejemljiva za poroka.
The Contingent Equity provides additional comfort that the date on which the Guarantor is satisfied that, among other things, HPC has been commissioned and is operational and on which all required reserves are fully funded will occur (‘financial completion’).
Delničarji bodo v podporo svojim obveznostim do podjetja NNBG in obveznostim podjetja NNBG odobrili fiksno [11] in/ali flotantno (spremenljivo) [12] zavarovanje [13], vključno s kvalificiranim flotantnim zavarovanjem [14], in sicer v zvezi z vsemi svojimi sredstvi, lastnino in zavezami.
The obligations of the shareholders relating to Equity will be set out in an equity contribution agreement to which the Guarantor will also be a party so that it receives undertakings in relation to the provision of the Equity.
Podjetje NNBG in izdajatelj obveznic, novo ustanovljeno podjetje, specializirano za poseben namen, bosta v podporo svojim obveznostim odobrila obsežno fiksno in/ali flotantno zavarovanje, vključno s kvalificiranim flotantnim zavarovanjem, v zvezi z vsemi svojimi sredstvi, lastnino in zavezami.
To ensure that Equity provides the loss absorption characteristics described above, if an event of default occurs, the parties have set-up two conditions (the Base Case Condition [9] and the FFS Failure Condition [10]) which allow for the Guarantor to require that the Base Equity is accelerated, or respectively, that the Contingent Equity is accelerated, i.e. immediately provided and applied to discharge the Bonds and the amounts due to the Guarantor.
Zavarovanje bo podprto z neposrednimi dogovori s pogodbenicami v zvezi z določenimi pomembnimi pogodbami.
This combination of provisions is intended to ensure that the Shareholders and not the Guarantor retain the principal exposure to the viability of the EPR technology until such time as there is objective evidence for confidence through the success of precedent projects such as Flamanville 3 and Taishan 1.
Zaradi posebne narave transakcije in pomembnosti varnosti izvrševanje zavarovanja upošteva soglasje regulatorja za jedrsko varnost Združenega kraljestva in pa dejstvo, da je mogoče prodati le subjektu, ki ima ali ki bo imel dovoljenje za jedrsko elektrarno za lokacijo HPC.
During the period up to the Base Case Condition being met there is a cap on the amount of debt drawn being the minimum of: the debt milestone cap for the relevant project milestone and […] per cent of the Base Equity less development equity, i.e. GBP […] billion.
Zavarovanje, ki ga odobrijo delničarji, podjetje NNBG in izdajatelj obveznic, naj bi zagotovilo, da imajo zavarovane strani [15]: (i) v primeru plačilne nesposobnosti zadevnega dolžnika absolutno prednost pred terjatvami nezavarovanih upnikov; (ii) možnost, da prodajo zavarovana sredstva in iztržek od take prodaje uporabijo za poravnavo neplačanih zavarovanih obveznosti, če bi to bil najboljši način za kar največje izterjave, in (iii) največji nadzor v primeru plačilne nesposobnosti katerega koli od hipotečnih dolžnikov in možnost doseganja namenov upravljanja zavarovanja z imenovanjem stečajnega upravitelja za podjetje in sredstva dolžnika.
Table 1 shows a practical example on loss absorption characteristics of Equity:
Obveznice bodo nezavarovane obveznosti izdajatelja in ne bodo delile zavarovanja, ki ga odobri izdajatelj ali drug član koncerna HPC.
Table 1
V zvezi z razvrstitvijo upnikov se bodo iztržki od izvrševanja zavarovanja, ki ga odobri podjetje NNBG, v praksi uporabili v naslednjem vrstnem redu:
Base Case Drawdown Profile and Base Case Condition Not Met
Upniki, ki imajo prednost po zakonu.
Source: IUK submission of 12 September 2014.
Stroški izvrševanja (tj. stroški skrbnikov zavarovanja in stečajnih upraviteljev).
After the Base Case Condition is satisfied, the Guarantor's principal protection during the construction period is the quantum of Contingent Equity, which can be drawn to meet cost overruns together with the project milestones limiting the amount of debt in any period.
Upniki FDP [16].
The commitments of the shareholders in respect of Base Equity and Contingent Equity will be fully credit-supported by way of instruments including, without limitation, parent company guarantees, letters of credit or other credit support, that are acceptable to the Guarantor.
Dajalci premostitvenega posojila za gradnjo.
The shareholders will grant fixed [11] and/or floating [12] security [13], including a qualifying floating charge [14], over all of their assets, properties and undertakings to support their obligations to NNBG and the obligations of NNBG.
Obveznice in porok.
NNBG and the issuer of the Bonds, a newly incorporated special purpose company, will each grant comprehensive fixed and/or floating security, including a qualifying floating charge, over all their assets, properties and undertakings to support their obligations.
Nezavarovani upniki podjetja NNBG.
The security will be supported by direct agreements with the contracting parties in respect of certain important contracts.
Delničarji podjetja NNBG.
Due to the special nature of the transaction and the high importance of safety, enforcement of the security will take into consideration the consent of the UK safety regulator and the fact that disposal can only be made to an entity that has or will have a nuclear site licence for the HPC site.
Tega vrstnega reda v zvezi z iztržki od izvrševanja ni mogoče spremeniti brez soglasja poroka.
The security granted by the shareholders, NNBG and the issuer are meant to ensure that the secured parties [15]: (i) have a maximum priority over the claims of unsecured creditors of the relevant debtor in the event of that debtor's insolvency; (ii) preserve the possibility for the secured parties to dispose of the secured assets and apply the proceeds of such sale towards the satisfaction of the outstanding secured liabilities, should this represent the best way of maximising recoveries and (iii) exert maximum control in case of the insolvency of any of the chargors and achieve the management purpose of security by means of appointment of an administrative receiver over the relevant debtor's business and assets.
Financiranje transakcije je razdeljeno v faze glede na doseganje mejnikov v uresničevanju projekta.
The Bonds will be unsecured obligations of the issuer and will not share in any security to be granted by the issuer or any other member of the HPC corporate group.
V obdobju po datumu izdaje največje količine obveznic (razen obveznice SZC) se bo zagotovil osnovni lastniški kapital v skladu z urnikom, pri čemer bo pogojni kapital kril vse prekoračitve stroškov v zvezi s tem urnikom.
In terms of creditor ranking, the proceeds of enforcement of the security granted by NNBG will in practice be applied in the following order of priority:
Dividende za delničarje niso dovoljenje pred finančnim zaključkom.
Creditors preferred by law.
Organi Združenega kraljestva navajajo, da kreditno jamstvo tudi po finančnem zaključku ostaja zavarovano z veliko strukturnimi ukrepi za zmanjševanje tveganja, ki temeljijo na zavezah, vključno s pomembnimi omejitvami v zvezi z izplačilom dividend ter […]-mesečno rezervo za odplačevanje dolga (ki jo je mogoče financirati z gotovino, pogojnimi akreditivi ali dopustnimi jamstvi), ki bi lahko dosegla […] milijard GBP.
Enforcement costs (i.e. costs of the security trustees and any insolvency appointee).
Tržni standard pri financiranju projektov naj bi bil šestmesečna rezerva za odplačevanje dolgov.
FDP Creditors [16].
Do uveljavljanja kreditnega jamstva po finančnem zaključku naj bi prišlo le v naslednjih primerih: (a) če obstaja bistven odklon pri uspešnosti poslovanja in pride do posledičnega zmanjšanja denarnega toka, ki je na voljo za odplačevanje dolga, v primerjavi s pričakovanji; in (b) je zaradi tega odklona zmanjšana v strukturi predvidena in zgoraj navedena rezerva za odplačevanje dolga.
Construction bridge providers.
Če se uporabi rezerva za odplačevanje dolga (v katerem koli obsegu), jo je treba pred izplačilom dividend v celoti spet napolniti.
Bonds and Guarantor.
Organi Združenega kraljestva trdijo, da bo glede na obseg strukturnih zaščit pred neizpolnjevanjem obveznosti ter prisotnost sprožilnih dogodkov in možnih pravnih sredstev pred neizpolnjevanjem obveznosti do izvrševanja prišlo le v majhnem obsegu in v malo verjetnih okoliščinah.
NNBG's unsecured creditors.
Če pa bi izvrševanje bilo potrebno, bodo okoliščine verjetno nepričakovane in resne, za kar pa fiksno izvrševanje ne bo primerno.
NNBG's shareholders.
Oddelek IUK je menil, da je potrebna prožnost za obravnavo njegovih možnosti v luči dogodkov, kot se zgodijo, da bo lahko bolje zaščitil svoje interese.
This order of priority in the enforcement proceeds cannot be changed without the consent of the Guarantor.
Zato je oddelek IUK izbral največji in prožni sklop možnosti izvrševanja, skupaj z diskrecijsko pravico v zvezi z določanjem najprimernejšega načina izvrševanja v zadevnem času.
The funding of the transaction is split into phases by reference to the achievement of milestones in the realisation of the project.
Komisija je v oceno prejela glavne finančne pogoje, doslej dogovorjene v zvezi s financiranjem projekta HPC.
In the period after the date on which the maximum amounts of Bonds (other than an SZC Bond) has been issued, Base Equity will be provided in accordance with a schedule with Contingent Equity meeting any cost overruns relative to that schedule.
Pogoji vsebujejo dogovor strank v zvezi z glavnimi pogoji dokumentov o financiranju, ne da bi na datum tega sklepa bila na voljo končna oblika pravnih osnutkov.
Dividends to shareholders are not allowed prior to financial completion.
Organi Združenega kraljestva so izjavili, da bodo ostali pogoji in končni dokumenti o financiranju vsebovali standardne klavzule, ki bi jih vsak vlagatelj zahteval pri podobnem projektu.
The UK authorities argue that after financial completion, the Credit Guarantee continues to be protected by many structural and covenant based mitigants including significant restrictions on when dividends may be paid and a […]-month debt service reserve (which may be funded by cash, standby letters of credit or acceptable guarantees) which could amount to GBP […] billion.
Ker Komisija ni imela priložnosti, da bi to preverila, bodo morali organi Združenega kraljestva v primeru, da končni dokumenti kakor koli spreminjajo ukrep, ki je sedaj predstavljen Komisiji, to prijaviti Komisiji.
Reportedly, the market standard in in project finance would be a 6 months debt service reserve.
DOGOVOR Z MINISTRSTVOM
A call on the Credit Guarantee after financial completion will, supposedly, only arise if: (a) there is a very material deviation in operating performance and consequent reduction in cash flow available for debt service from that expected; and (b) this deviation exhausts the substantial debt service reserve provided for in the structure and referred to above.
V pogodbi na razliko je določeno, da bodo vlagatelji podjetja NNBG upravičeni do odškodnine, če se vlada Združenega kraljestva odloči zapreti elektrarno HPC iz političnih razlogov (ki ne vključujejo zdravja, jedrske varnosti, varnosti, okoljskih zaščitnih ukrepov, zaščitnih ukrepov pri jedrskem prevozu ali jedrskih nadzornih ukrepov).
If the debt service reserve is called upon (to any extent) it must be fully replenished before any dividend payments may be made.
Ta plačila bi se financirala enako kot plačila po pogodbi na razliko (tj. s pomočjo dajatev dobaviteljev).
The UK authorities argue that given the range of structural protections against default and the presence of trigger events and potential remedies ahead of default, the need to enforce should occur in narrow and unlikely circumstances.
Pogodbi na razliko bo priložen dogovor z ministrstvom, ki ga bodo sklenili ministrstvo in vlagatelji NNBG.
However, if enforcement would be necessary the circumstances are likely to be unexpected and serious, for which a fixed enforcement action will not be appropriate.
Ta dogovor določa, da bo, če v primeru politične zaustavitve organ nasprotne stranke vlagateljem NNBG ne bo mogel plačati odškodnine, dogovorjeno odškodnino plačalo ministrstvo.
IUK considered that it requires flexibility to consider its options in the light of events as they occur so that it can protect better its interests.
Dogovor ne predvideva dodatnih odškodnin za podjetje NNBG ali njegove vlagatelje.
Therefore, IUK chose to have a maximal and flexible suite of enforcement options along with discretion to determine the most appropriate manner of enforcement at the relevant time.
PRIPOMBE ZAINTERESIRANIH STRANI