On The Amendment Of The Guarantee Agreement Between The Kingdom Of Belgium, The Republic Of Bulgaria, The Czech Republic, The Kingdom Of Denmark, The Federal Republic Of Germany, The Republic Of Estonia, The Hellenic Republic, The Kingdom Of Spain, The...

Original Language Title: Par Grozījumiem Garantiju līgumā starp Beļģijas Karalisti, Bulgārijas Republiku, Čehijas Republiku, Dānijas Karalisti, Vācijas Federatīvo Republiku, Igaunijas Republiku, Grieķijas Republiku, Spānijas Karalisti, Francijas Republiku, Īriju, Itālijas Republi

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Read the untranslated law here: https://www.vestnesis.lv/ta/id/248336


The Saeima has adopted and the President promulgated the following laws: on the amendment of the guarantee agreement between the Kingdom of Belgium, the Republic of Bulgaria, the Czech Republic, the Kingdom of Denmark, the Federal Republic of Germany, the Republic of Estonia, the Hellenic Republic, the Kingdom of Spain, the French Republic, Ireland, the Italian Republic, the Republic of Cyprus, the Republic of Latvia, the Republic of Lithuania, the Grand Duchy of Luxembourg, the Republic of Hungary, Malta, the Netherlands, the Republic of Austria, the Republic of Poland, the Portuguese Republic, Romania, the Republic of Slovenia, the Slovak Republic, the Republic of Finland , The Kingdom of Sweden, the United Kingdom of Great Britain and Northern Ireland and the European investment bank European investment bank loans for investment projects in Africa, the Caribbean and Pacific States and the overseas countries and territories article 1. 2011 November 29 amendments guarantee agreement signed between the Kingdom of Belgium, the Republic of Bulgaria, the Czech Republic, the Kingdom of Denmark, the Federal Republic of Germany, the Republic of Estonia, the Hellenic Republic, the Kingdom of Spain, the French Republic, Ireland, the Italian Republic, the Republic of Cyprus, the Republic of Latvia, the Republic of Lithuania, the Grand Duchy of Luxembourg, the Republic of Hungary, Malta, the Netherlands, the Republic of Austria, the Republic of Poland, the Portuguese Republic, Romania, the Republic of Slovenia, the Slovak Republic, the Republic of Finland, the Kingdom of Sweden, the United Kingdom of Great Britain and Northern Ireland and the European investment bank European investment bank loans for investment projects in Africa Caribbean and Pacific States and the overseas countries and territories (hereinafter referred to as the guarantee agreement) with this law is adopted and approved. 2. article. The amendments Guarantee Agreement shall enter into force on the guarantee in article 11 of the Treaty within the time and in order, and the Ministry of Foreign Affairs shall notify the newspaper "journal". 3. article. The law shall enter into force on the day following its promulgation. To put amendments by law guarantee contract in English, as well as their translation into Latvian language. The Parliament adopted the law of 10 may 2012.
The President a. Smith in 2012 May 30 Amendment to the guarantee agreement between the Kingdom of Belgium, the Republic of Bulgaria, the Czech Republic, the Kingdom of Denmark, the Federal Republic of Germany, the Republic of Estonia, the Hellenic Republic, the Kingdom of Spain, the French Republic, Ireland, the Italian Republic, the Republic of Cyprus, the Republic of Latvia, the Republic of Lithuania the Grand Duchy of Luxembourg,-the Republic of Hungary, Malta, the Kingdom of the Netherlands, the Republic of Austria, the Republic of Poland, the Portuguese Republic, Romania,-the Republic of Slovenia, the Slovak Republic, the Republic of Finland, the Kingdom of Sweden, the United Kingdom of Great Britain and Northern Ireland and the European Investment Bank concerning loans to be made by the European Investment Bank in favour of investment projects in the African , Caribbean and Pacific States and in the overseas countries and territories 1 A new Recital 4 is added as follows: On 16 November 2010, the Board of Directors of the Bank decided to increase the current overall limit of public-sector exposure limit for own-resources lending under the Cotonou II Mandate from 60% to 80% and to assume the full commercial risk on each individual private sector operations from own-resources with a systematic carv-out of the political risk by the Member States ´ Guarantee. 2. The numbering of the Recital shall be amended accordingly by. 3. Recital 8 shall read as follows: the Guarantor and the Bank intends that, where the Guarantor is subrogated to the rights and the remedies of the Bank in relations to any Loan, the Bank shall, if so requested by the Guarantor, administer and manage the Loan Agreement which has gone into default in accordanc with the terms and conditions of the the Cotonou II Arrear Administration Agreement (as defined below). of 31 March 2009 concluded between the Bank and the Guarantor for each of the procedures for payment and reimbursement under the Member States guarantee in favour of the Bank (the "Cotonou II Arrear Administration Agreement"). 4. The definition of Adequately Secured Loan Agreement ("ASL") shall read as follows: "Adequately Secured Loan Agreement (" ASL ")" means any Loan Agreement concluded between the Bank and private sector Borrower is within the Cotonou Framework for which in the Bank's opinion there is an adequat security covering for credit risk and which the Bank, exercising its discretion, declare it as such in writing to qualify the Guarantor. ASL so defined. According to article 2.03, ASL, shall only be covered by this guarantee as regards Political Risk as defined in Annex 3. The definition of the Cotonou II Arrear shall be deleted in the Administration Agreement in section (A) of "Definition". 6. The "Loan-loss Cover account" or "LLC" definition shall read as follows: "Loan-loss Cover account" or "LLC" means the account in euros by the Bank constituted in the name of the Guarantor, which shall be funded from the income resulting from the application of a risk-pricing on EIB Financing operations, excluding ASL axis defined above, and which shall be managed in accordanc with the provision of the Cotonou II Arrear Administration Agreement. 7. Section B of the "Definition" shall read as follows: Term Recital, article or Annex Cas tribunal Section 4 of Annexe 3 Association Decision Recital 1 Section 4 of Annexe 3 bindings enforceabl Section 4 of Annexe 3 Recital 5 of the Framework of Cotonou Cotonou Internal Agreement Cotonou II II 1 Recital Arrear Administration Agreement Cotonou Partnership Agreement Recital 8 Recital II 1 Political Risk article 2.03 project Section 4 of Annexe 3 project agreement Section 4 of Appendix 3 relevant Party Section 4 of Annexe 3 8. Article 1.04 shall read as follows: the obligation of the Guarantor under this guarantee shall continue until payment is made in full of the Guaranteed Sum. 9. Article 99 str shall read as follows: However, for ASL, this guarantee may only be called upon whenever, because of the occurrence of one of the events defined in Annex 3 (hereafter a "Political Risk"): (i) a Guaranteed Debtor is unable to pay, or the Bank is unable to receive a Guaranteed Sum, on its due date; or (ii) a Third-Party Guarantor is prevented from collecting in the non which due to it in respect of a Guaranteed Sum, provided that: (a) any demand for payment made by a Third-Party Guarantor on account of a payment that it has made on behalf of a Guaranteed Debtor must have been presented to the Bank at the latest 2 years from (xx) the specified contractual final repaymen date under the relevant agreement or (yy) in the case of early repaymen the voluntary or obligatory, whethers of the relevant Loan, the due date of that early repaymen; and (b) this guarantee is limited to the amount which the Bank or, as the case may be, the Third-Party Guarantor could have recovered but for the occurrence of a Political Risk. 10. Article 3.01 shall read as follows: the Guarantor shall pay to the Bank by the Bank is demanded by the non in euros. The Bank is demanded by the non shall take into account any funds which are capable of being applied by the Bank from the LLC in respect of unpaid Guaranteed Sum. The LLC's shall be managed in accordanc with the provision of the Cotonou Agreement and Arrear Administration II the terms and conditions laid down by the Bank's bodies each from time to time. 11. Article 4.03 shall read as follows: the Bank shall provide to the Guarantor of a year by January 31 twice and 31 July respectively: (i) an information sheet, in the form of Annex 4, containing information, effective as of 31 December and 30 June on the Loan agreements (including ASL) covered by the present guarantee; and (ii) the prudential limit, in the form of Annex 5, as defined in accordanc with the principles and guidelines put down by the Bank's bodies each from time to time, most recently approved on 16 November 2010.12. Article 5.04 shall read as follows: the Guarantor and the Bank agree to apply the Cotonou II Arrear Administration agreement to all recovery actions initiated by the Bank in respect of Loan agreements covered by this guarantee. 13. Article 6.02 shall read as follows: the Guarantor will indemnify the Bank for all expense incurred by the tax and of the Bank in seeking recovery of Guaranteed Sum, in accordanc with the Arrear Cotonou II Administration Agreement. 14. Annex 5 shall read as follows:

 

Amended guarantee agreement between the Kingdom of Belgium, the Republic of Bulgaria, the Czech Republic, the Kingdom of Denmark, the Federal Republic of Germany, the Republic of Estonia, the Hellenic Republic, the Kingdom of Spain, the French Republic, Ireland, the Italian Republic, the Republic of Cyprus, the Republic of Latvia, the Republic of Lithuania, the Grand Duchy of Luxembourg, the Republic of Hungary, Malta, the Netherlands, the Republic of Austria, the Republic of Poland, the Portuguese Republic, Romania, the Republic of Slovenia, the Slovak Republic, the Republic of Finland, the Kingdom of Sweden, the United Kingdom of Great Britain and Northern Ireland and the European investment bank European investment bank loans for investment projects in Africa Caribbean and Pacific States and the overseas countries and territories, the new recital 4, 1 is added to the following reaction: 2010 November 16, the Bank's Board of Directors decided to increase the currently defined general public liability limit for loans from its own resources within the framework of the Cotonou Mandate II from 60% to 80% and take full commercial risk for each individual operation of own resources in the private sector to systematically eliminate the political risk that covered by the State guarantee. 2. the numbering of the recitals are corrected. 3. recital 8 is expressed as follows: the guarantor and the Bank provides that, if the Guarantor takes on the rights and obligations of the Bank in respect of any loan, the Bank at the request of the guarantor is administered and managed by the loan agreement, which does not comply with the obligation, under Cotonou II arrears administration Prolonged the terms of the contract, concluded March 31, 2009 between the Bank and the Guarantor, and monitor the payment and refund procedures within the Member States guarantees in favor of the Bank (hereinafter referred to as the continuing Cotonou II arrears Administration Agreement). 4. "according to secured loan agreement" definition is expressed as follows: "according to secured loan agreement" means any loan agreement concluded between the Bank and private sector borrowers, which the Cotonou framework, the Bank's view, are eligible collateral to cover credit risk, and which the Bank, using their own discretion about the classified information the guarantor in writing. In accordance with article 2.03 according to loan agreements secured this guarantee covers only in respect of political risks, which are described in annex 3. 5. The continuing Cotonou II arrears Administration Agreement definition is deleted from the "definition" section. 6. "the lost loan settlement account" or "ZASK ' is expressed by the following:" lost loan settlement account "or" account "is the euro ZASK, which has opened on behalf of the guarantor Bank and the who is financed from the income obtained from the re-pricing of risk of EIB financial operations application, except according to ensure lending arrangements that are defined above, and who are to be managed in accordance with the Cotonou II arrears administration Prolonged the contract rules. 7. the "definition" section B is expressed by the following: the term consideration, article or annex arbitral tribunal annex 3, section 4 of the Association decision recital 1 bind 3. section 4 of the annex to annex 3 executable section 4 the Cotonou framework recital 5 of the internal agreement the Cotonou II 1. recital Cotonou II arrears Administration Agreement Drawn in recital 8 of the Cotonou partnership agreement II consideration 1 political risks article 2.03 project 3. section 4 of the draft contract annex 3, section 4, the party concerned shall 3. section 4 of Annex 8.1.04. article is expressed as follows: obligations of the guarantor under this guarantee exists until full repayment of the guaranteed amount. 9. Article 2.03 is expressed by the following: However, for according to the secured loan contracts that guarantee obligations may be requested at any time, if you have one of 3 Annex conditions (political risk): (i) ensure that the borrower is unable to pay or the Bank fails to get the guaranteed amount of the prescribed payment date; (ii) a third-party guarantor could not get the amount of money that it owed in relation to the guaranteed amount, provided that: (a) a third-party guarantor made payment request for payment made on behalf of the borrower, the Guarantee must be submitted to the Bank not later than 2 years after the (xx) where specified in the contract, the final repayment date (yy) or loan voluntary or compulsory in the case of early repayment such early repayment date; (b) this warranty restricts the amount that a Bank or a third-party Guarantor can recover, if it were not for the political risks occurred. 10. Article 3.01 is expressed as follows: the guarantor must pay the Bank the amount of money requested in euro. The Bank in the amount of money required to be taken into account any features that you can use from the Bank account in relation to ZASK outstanding guaranteed amount. Must be managed according to ZASK Cotonou II arrears administration Prolonged the terms of the contract, as well as the management of the Bank in accordance with specified conditions. 11. Article 4.03 is expressed as follows: twice a year, to 31 January and 31 July, the Bank shall submit to the Guarantor: (i) an information page, the form in annex 4 31 December and 30 June, up to date information on loans (including under secured loan contracts), covered by the present warranty; (iii) reasonable limits, the form in annex 5, which are defined according to the management of the Bank's principles and guidelines, which last updated 16 November 2010. 12. Article 5.04 is expressed as follows: the guarantor and the Bank agree to apply the Cotonou II arrears Administration Agreement Prolonged for all the person of the Bank recovery activities in relation to the loan agreements, which are covered by this warranty. 13. Article 6.02 is expressed as follows: to pay the Guarantor Bank, all taxes and costs incurred to the Bank to try to recover the guaranteed amount under Cotonou II arrears Administration Agreement Prolonged. 14. Annex 5 is expressed by the following: