United States Senate Resolution No. 66, Of 20 December 2002

Original Language Title: Resolução do Senado Federal nº 66, de 20 de dezembro de 2002

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Do I know that the Senate approved, and I, Ramez Tebet, President, pursuant to art. 48, paragraph XXVIII, the internal regulations, enact the following Security Council resolution 66-2002 Authorizing the Union to hire four external credit operations, whose resources are intended for the purchase of equipment for the ALX Project, within the framework of the strengthening of the control System of the Brazilian airspace, to be concluded between the Federative Republic of Brazil and the Export Development Canada (EDC) in the amount of $ 47,496, 124.00 (47 million, us $ 496,000, 124); Deutsche Bank AG-London Branch and the Export Credits Guarantee Department (ECGD), worth the equivalent of $ 16,031, 966.00 (sixteen million, 31000, 966 u.s. dollars); Deutsche Bank AG in the amount equivalent to US $ 8,377, 222.08 (eight million, 377,000, 222 u.s. dollars and eight cents) and EUR 880,000.00 (880,000 euros); and the bank BNP Paribas s.a. and the Bank Leumile-Israel B.M., worth up to $ 47,803, 393.66 (47 million, 803,000, 393 u.s. dollars and 66 cents).
The Senate resolves: Art. First Union is authorized to perform the following external credit operations with the following financial institutions and involving the following values: I-Export Development Canada (EDC), in the amount of US $ 47,496, 124.00 (47 million, us $ 496,000, 124);
II-Deutsche Bank AG-London Branch and Export Credits Guarantee Department (ECGD), worth the equivalent of $ 16,031, 966.00 (sixteen million, 31000, 966 u.s. dollars);
III-Deutsche Bank AG in the amount equivalent to US $ 8,377, 222.08 (eight million, 377,000, 222 u.s. dollars and eight cents) and EUR 880,000.00 (880,000 euros);
IV-Bank BNP Paribas s.a. and Bank Leumile-Israel B.M., worth up to $ 47,803, 393.66 (47 million, 803,000, 393 u.s. dollars and 66 cents).
Art. 2 The resources referred to in art. first intended for the purchase of equipment for the ALX Project, within the framework of the strengthening of the control System of the Brazilian airspace.
Art. 3 the signature of the contracts of loans referred to in art. 1st get conditioned to prior solution of all the outstanding issues identified in the opinions STN/COREF/GERFI Nos 505, 531 and 536, 2002, all of the National Treasury Secretariat.
Art. 4 the loan referred to in item I of the art. 1 has the following financial features: I-value: $ 47,496, 124.00 (47 million, 496,000, 124 u.s. dollars), being: a) $ 43,674, 597.00 (43 million, us $ 674,000, 597)-85% (85%) of the commercial contract;
b) $ 3,821, 527.00 (three million, us $ 821,000, 527)-insurance premium;
II-disbursement: the supplier, as the formal disbursement requests concerning goods delivered, after the fulfilment of the conditions precedent to disbursements referred to in item 6.1 and 6.2 item of the loan contract;
III-grace period: the first installment of the amortization shall be paid in one of the following specified dates, which occur first: a) 31 January 2006;
(b)) 6 (six) months after you Supply do you Subcontract;
c) 6 (six) months after the date on the weighted average of deliveries of goods (of around 31 de junho de 2005);
IV-amortization: 10 (ten) equal consecutive semi-annual installments, for each disbursement;
V-interest: USD Libor 6 m more spread of 0.5% p.a. (five tenths by 100 per year), calculated on the outstanding balance, due semi-annually;
VI-Commission of appointment: 0.25% p.a. (twenty-five cents per 100 a year), on the non-disbursed financing balance, computed from: the final registration date) of the Central Bank of Brazil (Bacen);
b) 30 (thirty) days from the date of signature of the contract, whichever occurs first, the dates of payment of interest;
VII-administration fee: 0.20% (twenty cents per 100) on the transaction value, payable within 10 (ten) days from the date of the final accreditation of the Central Bank;
VIII-insurance premium: $ 3,821, 527.00 (three million, us $ 821,000, 527), withdrawn funding account on the date of signature of the contract.
IX-general expenses: limited to 0.1% (one tenth even by 100) of the contract value. (Included by RDE n° 1, 2003)
Art. 5 the loan referred to in item II of art. 1 has the following financial features: I-value: $ 16,031, 966.00 (sixteen million, 31000, 966 u.s. dollars);
II-objective: 85% (85%) of the value of 127 (127) ejection seats to be provided by Martin Baker Aircraft Co. Ltd., and 85% (85%) of the ECGD credit insurance premium;
III-disbursement: first disbursement to the ECGD, corresponding to the part financed from the credit insurance premium [US $ 1,255, 062.00 (one million, us $ 255,000, 62)]. The remainder of the supplier, as formal disbursement requests concerning goods delivered, after the fulfilment of the conditions of effectiveness of the contract and the conditions precedent to disbursement provided for in Section 5 of the loan contract, being 31 December 2005 the date for disbursement;
IV-grace period: the first installment of the amortization shall be paid in one of the following specified dates, which occur first: a) 31 January 2005; or (b)) 6 (six) months from the date certified confirming delivery of 50% (50%) of the value of its commercial contract;
V-amortization: 10 (ten) equal consecutive semi-annual installments;
VI-CIRR Rate annual interest: fixed at 4.8% per year (four and eight-tenths integers by 100 per year), with interest calculated on the balance due, due semi-annually;
VII-commitment Commission: 0.20% p.a. (20 hundredths by 100 per year) on the balance non-disbursed financing due semi-annually from 6 (six) months from the date of signing of the loan agreement;
VIII-Commission preparation: 0.50% (50 cents for 100) flat on the transaction value, as a condition precedent to the first disbursement;
IX-Advisory Committee: $ 555, 262.00 (555,000, 262 u.s. dollars), as a condition precedent to the first disbursement;
X-disbursement Committee: $ 5, 000.00 (us $ 5000) for each time any disbursements less than $ 200, 000.00 (us $ 200,000) in each annual period covered by funding. This Commission payments are due on each anniversary of the date of signature of the contract;
XI-credit insurance premium: $ 221, 482.00 (221,000, 482 u.s. dollars), corresponding to 15% (15%) of the value of the award (non-funded in the contract), in 45 (45) days of the final registration of the ROF by the Central Bank;
XII-general expenses: limited to up to 0.1% (one tenth per 100) of the contract value.
Art. 6 the loan referred to in item III of art. 1 has the following financial features: I-value: $ 8,377, 222.08 (eight million, 377,000, 222 u.s. dollars and eight cents) and EUR 880,000.00 (880,000 euros);
II-objective: 85% (85%) of the value of communications equipment to be provided by the Rohde Schwarz GmbH & & Co. KG and 85% (85%) of the Hermes credit insurance premium;
III-disbursement: first disbursement to Hermes, corresponding to the part financed from the credit insurance premium [US $ 1,255, 062.00 (one million, us $ 255,000, 62)]. The remainder of the supplier, as formal disbursement requests concerning goods delivered, after the fulfilment of the conditions of effectiveness of the contract and the conditions precedent to disbursement provided for in Section 19 of the loan contract, and the date of payment of the first installment of the amortization date for disbursement;
IV-grace period: the first installment of the amortization shall be paid in one of the following specified dates, which occur first: 30 October 2004); or (b)) 6 (six) months after the date on which certified the weighted average of the supplies provided for in the contract;
V-amortization: 14 (fourteen) equal and consecutive semi-annual installments;
I saw interest: Libor 6 m more spread of 0.55% per year (55 cents per 100 a year), with interest calculated on the balance due, due semi-annually;

VII-commitment Commission: 0.20% p.a. (20 hundredths by 100 per year) on the balance non-disbursed in funding, computed from the date of signature of the contract, due at the end of each quarter, being your first payment due when the fulfilment of the conditions precedent to first disbursement;
VIII-Commission preparation: 0.50% (50 cents for 100) flat on the transaction value, when the fulfilment of the conditions precedent to first disbursement;
IX-credit insurance premium: EUR 155,294.00 (294, 155,000 euros), corresponding to 15% (15%) of the value of the award (non-financed contract), by notifying the creditor about receipt of the initial invoice of the Hermes award;
X-overheads: limited to up to 0.1% (one tenth per 100) of the contract value.
Art. 7 the loan referred to in subsection IV of art. 1 has the following financial features: I-value: $ 47,803, 393.66 (47 million, 803,000, 393 u.s. dollars and 66 cents);
II-disbursement: the supplier, as the formal disbursement requests concerning goods delivered, after the fulfilment of the conditions of effectiveness and precedent to disbursements provided for in the loan agreement;
III-grace period: 6 (six) months after each disbursement, when starting the amortization of that portion;
IV-amortization: 17 (seventeen) equal and consecutive semi-annual installments;
IV depreciation: the amount of each disbursement divided into number of semi-annual installments equal to the number of periods of interest that exist in the period starting on the date of disbursement and ending on the date of final repayment [102 (102) months after the date of effectiveness of the agreement]; (Wording by resolution nº 1, 2003)
V-interest: biannual Libor plus 1% p.a. (1% year), calculated on the outstanding balance, due semi-annually;
VI-Commission of appointment: 0.50% p.a. (50 cents for 100 year) about the non-disbursed balance of financing, due semi-annually from 3 (three) months from the date of effectiveness of the loan agreement;
VII-Agency Commission: 0.50% (50 cents for 100) flat on the transaction value, paid 30 (thirty) days after effectiveness of the loan agreement;
VIII-credit insurance premium: $ 3,595, 263.00 (three million, us $ 595,000, 263), payable upon presentation of collections, prior to the start of disbursements;
IX-general expenses: limited to up to 0.1% (one tenth per 100) of the contract value.
Art. 8. The authorisation granted by this resolution must be exercised within 540 (540) days, counted of the date of its publication. (See resolution # 1, 2003)
Art. 9 this resolution shall enter into force on the date of its publication.
Senate, on 20 December 2002 SENATOR RAMEZ TEBET President of Federal Senate attachment (s)

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