Yacyreta - Approve Credit Agreement - Full Text Of The Norm

Original Language Title: YACYRETA - APRUEBAN CONVENIO DE CREDITO - - Texto completo de la norma

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$40 per month.
image inicio sitio infoleg MInisterio de Justicia y Derechos Humanos
CREDITO CONVENTIONS Decree 1855/94 Appropriate the Credit Agreement to be signed between the Binational Entity Yaciretá and Berliner Bank A.G.

Bs. As., 18/10/94

VISTO Issue No. 001-002222/94 of MINISTERY OF ECONOMY AND ARTWORKS AND SERVICES PUBLICS related to the Draft Loan Convention to be signed between the YACYRETA BINACIONAL ENTITY as a beneficiary and BERLINER BANK A. G. as a lender, with the guarantee of the ARGENTINA REPUBLIC and,


On March 10, 1994, the YACYRETA BINACIONAL ENTITY has signed the YE-14 Contract for the design, manufacture, transport, assembly and commissioning of the Computer System for Automation and Control of the Hydroelectric Power Plant.

That the loan of BERLINER BANK A. G. is intended to finance the OCHENTA AND CINCO FOR SCIENTI (85 %) of the value of the Contract and the corresponding price readjustments.

That the financial conditions and text of the draft Loan Convention to be signed with BERLINER BANK A. G. were approved by the SECRETARIAT OF HACIENDA of the MINISTERY OF ECONOMY AND ARTWORKS AND PUBLIC SERVICES.

That the granting of the guarantee of the ARGENTINA REPUBLIC is provided for in Article X of the YACYRETA Treaty adopted by Law No. 20.646 and in the "Agreement for the exchange of notes" No. 21 of 3 December 1973.

That the NATIONAL EXECUTIVE POWER is entitled to the dictation of this act by virtue of Article 16 of Law No. 11.672, Permanent Supplementary to Budget (t. or. 1994) and Article 99, paragraph 1 of the NATIONAL CONSTITUTION.




Article 1 . Approved in all its parts the draft Credit Convention in the amount of VEINTICINCO MILLONES SEISCIENTS DIETE MIL ATROCIENTS SESENTA AND ONE WITH 50/100 (DM 25.617.461.50), to subscribe to the BINACIONAL ENTITY YACYRETA as a beneficiary, LINBER. The text of the Loan Convention in authenticated copies in English and their translation into Spanish works in Annex I as an integral part of this Decree.

Art. 2o . Approved the adoption of the laws of the FEDERAL REPUBLIC of ALEMANIA, as rules of application and interpretation of the Loan that are authorized to subscribe to Article 1 of this decree.

Art. 3o . For the purposes of the application and effect of the Draft Loan Convention to be signed as approved by Article 1 or, authorize the extension of jurisdiction in favour of the BERLIN courts (Federal REPUBLIC of ALEMANIA), as well as the waiver of opposition to sovereign immunity as set out in Article 48 of Law No. 16.432 incorporated into the Permanent Budget Law No. 11.672, as amended by Article No.

Art. 4o . Authorize the MINISTERY OF ECONOMY AND ARTWORKS AND PUBLIC SERVICES so that through the HACIENDA SECRETARIAT ensures with the support of the General TESORERIA OF THE NATION the terms and conditions of the Loan Convention to subscribe approved by Article 1.

Art. 5o al Authorize Mr. SECRETARY OF THE MINISTERY OF ECONOMY AND ARTWORKS AND SERVICES PUBLICS or the official designated by the latter to subscribe on behalf of and representation of the REPUBLIC ARGENTINA the guarantee of payment as Annex 4 of the Loan Convention approved in Article 1 as well as any other document and instrument required or contemplated in relation to that Convention.

Art. 6th . Communicate, publish, give to the National Directorate of the Official Register and archvese. . MENEM. . Domingo F. Cavallo.

NOTE: This Decree is published without Annex I. Unpublished documentation can be consulted at the Central Headquarters of this National Directorate (Suipacha 767 - Capital Federal).