On The Persistent Debt Management 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, Ireland, The Hellenic Republic, The Kingdom Of S...

Original Language Title: Par Ieilgušo parādu pārvaldes līgumu starp Beļģijas Karalisti, Bulgārijas Republiku, Čehijas Republiku, Dānijas Karalisti, Vācijas Federatīvo Republiku, Igaunijas Republiku, Īriju, Grieķijas Republiku, Spānijas Karalisti, Francijas Republiku, Horvātijas R

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Read the untranslated law here: https://www.vestnesis.lv/op/2015/251.16


The Saeima has adopted and the President promulgated the following laws: on the persistent debt management 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, Ireland, the Hellenic Republic, the Kingdom of Spain, the French Republic, the Republic of Croatia, the Italian Republic, the Republic of Cyprus, the Republic of Latvia, the Republic of Lithuania, the Grand Duchy of Luxembourg, Hungary, the Republic of 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, which supervises the payment and refund procedures under the guarantee contract for European investment bank loans to investment projects in the African, Caribbean and Pacific States and the overseas countries and territories article 1. 29 July 2015 signed in Protracted debt management 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, Ireland, the Hellenic Republic, the Kingdom of Spain, the French Republic, the Republic of Croatia, the Italian Republic, the Republic of Cyprus, the Republic of Latvia, the Republic of Lithuania, the Grand Duchy of Luxembourg, Hungary, the Republic of 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, which supervises the payment and refund procedures under the guarantee contract for European investment bank loans to investment projects in the African, Caribbean and Pacific States and the overseas countries and territories (hereinafter called the agreement) with this law is adopted and approved. 2. article. Contractual commitments coordinated by the Ministry of finance. 3. article. The agreement shall enter into force for the period specified in article 11 and in order, and the Ministry of Foreign Affairs shall notify the official Edition of the "journal". 4. article. The law shall enter into force on the day following its promulgation. With the law put a contract in English and its translation into Latvian language. The Parliament adopted the law 2015 December 10. The President r. vējonis Riga 2015 23 December ARREAR ADMINISTRATION agreement between the Kingdom of Belgium Republic of Bulgaria Czech Republic Kingdom of Denmark by the Federal Republic of Germany Republic of Estonia Republic of Ireland Spain French Republic Hellenic Kingdom Republic of Croatia Italian Republic Republic of Cyprus Republic of Latvia Republic of Lithuania Grand Duchy of Luxembourg Hungary Republic of Malta Kingdom of the Netherlands Republic of Austria Portuguese Republic Republic of Poland Romania Slovenia Slovak Republic Republic of Republic of the Kingdom of Sweden Finland United Kingdom of Great Britain and Northern Ireland and the European Investment Bank for each procedure and reimbursement payments under the guarantee agreement 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 this agreement is made between : Kingdom of Belgium, REPUBLIC OF Bulgaria, the Czech Republic, the Kingdom of Denmark, the Federal Republic of Germany, the Republic of Estonia, the Hellenic Republic, Ireland, Kingdom of Spain, the French Republic, the republic of Croatia, the Italian Republic, the Republic of Cyprus, the Republic of Latvia, the Republic of Lithuania, the Grand Duchy of Luxembourg, Hungary, the republic of 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, acting through the services and to the Minister indicated in the Annex to the present agreement and represented by the signator to the listed on the signature pages (each a "Guarantor" and together the "Guarantor" or "Member States") and the EUROPEAN investment BANK having its seat at 100 , boulevard Konrad Adenauer, L-2950 Luxembourg Kirchberg, Grand Duchy of Luxembourg, represented by Mr. Werner Hoyer, President (the "Bank") Whereas: 1. The Guarantor with the parts to the guarantee agreement concluded with the Bank on the date hereof (the "guarantee agreement" or "guarantee") in respect of the Loan made by the Bank from its own resources under the Internal Agreement signed at Luxembourg and Brussels on 24 and 26 June 2013 respectively relating to the financing of Community aid under the multi-annual the financial framework for the period to 2014 to 2020 in accordanc with the Partnership Agreement signed in Cotonou (Benin) on 23 June 2000 between the European Community and its Member States and the African, Caribbean and Pacific States as revised in Luxembourg on 25 first June 2005 and as amended for the second time in Ouagadougou on June 22, 2010 and on the allocation of financial assistance for the overseas countries and territories to which part four of the Treaty on the Functioning of the European Union applies under Council Decision 2001/822/EC of 27 November 2001 on the association of the overseas countries and territories with the European Union (as amended or replaced from time to time).
2. The guarantee provides for subrogation of the Guarantor to the rights and remedies of the Bank against the Guaranteed Debtor to the exten that the Guarantor to make a payment under the guarantee. 3. The Guarantor and the Bank intends by means of the present agreement (referred to in the guarantee as the "Cotonou Arrear III Administration Agreement") set out the provision and procedures for the recovery of claims in respect of Subrogated Sum. 4. The present agreement further give the effect to the guarantee which provides that where a Guarantor is subrogated to the rights and remedies of the Bank in relations to any Loan, the Bank and the Guarantor shall enter into an agreement for the Bank's administration and management of the Loan. The present agreement does not preclud the Bank and the Guarantor from making specific agreements for the management of individual loans. IT IS HEREBY AGREED AS follows: article 1 Definition In this agreement, "agreement" means this Arrear Administration Agreement. "Call date" means the date on which a call is made on the Guarantor under the guarantee. "Call Data Exchange rate" in respect of any currency means the rate of exchange between the euro and that currency, as published by the European Central Bank at 2 PM Frankfurt time five EIB business days prior to the Call date. "Borrower" has the meaning ascribed to it in the guarantee. The "default date" means the due date for payment of a sum owed table by a Guaranteed Debtor under a Loan Agreement, and in respect of which from the discharge has been received. "Default Sum" means a sum owed table by a Guaranteed Debtor under a Loan Agreement, and in respect of which the due date for payment has passed. "The EIB'S Business Day" means a day on which the Bank is open for normal business in Luxembourg. "EIB Financing Operations" has the meaning ascribed to it in the guarantee. "Guarantee agreement" or "guarantee" has the meaning ascribed to it in the first Recital. "The Guaranteed Debtor" has the meaning ascribed to it in the guarantee. "The guarantee payment" means a payment by a Guarantor to the Bank of the Guaranteed Sum under the guarantee. "Guaranteed Sum (s)" has the meaning ascribed to it in the guarantee. "Host Country" has the meaning ascribed to it in the guarantee. "Loan" has the meaning ascribed to it in the guarantee. "Loan Agreement" has the meaning ascribed to it in the guarantee. "Loan-loss Cover account" or "LLC" means an account denominated in euro, to be maintained by the Bank in the name of the Guarantor, which is intended to mitigat risks assumed by the Member States under the guarantee and shall be managed in accordanc with the terms and conditions laid down by the Bank's bodies each from time to time. The LLC's shall be funded from (i) the income resulting from the application of a risk-pricing on EIB Financing operations as approved by the Bank's bodies each in accordanc with its internal rules from time to time (ii) Recovered Non and (iii) credit interest to be calculated at a daily interest rate, payable on a monthly basis, to be determined and notified by the Bank in accordanc with the applicable principles from time to time let down by the Bank's each bodies. The LLC's shall be debited with (i) the guarantee payments, be it this pursuan agreement, and (ii) the Recovery Administration fee, provided there are sufficient funds in the account.

"Member States Call account" or "MSC" means an account denominated in euro, to be maintained by the Bank in the name of each Guarantor, which shall be managed in accordanc with the terms and conditions laid down by the Bank's bodies each from time to time. The MSC's shall be debited with (i) the guarantee payments, be it this pursuan agreement, (ii) debit interest to be calculated at a daily interest rate, payable on a monthly basis, to be determined and notified by the Bank in accordanc with the applicable principles from time to time let down by the Bank's bodies each and (ii) the Recovery Administration fee. The MSC's shall be credited by the Guarantor with (i) the equivalent of the expected non guarantee payments under the guarantee and (ii) in respect of any non negative balance and accrued interest, debit and credited by the Bank with (i) and (ii) Recovered Non credit interest to be calculated at a daily interest rate, payable on a monthly basis, to be determined and notified by the Bank in accordanc with the applicable principles from time to time let down by the The Bank's bodies each. "The Recovery Administration fee" or "fee" means a fee as defined under article 5 of this agreement. "Recovered Non" means the part of a Subrogated Sum actually recovered by and paid to the Bank. "Recovery date exchange rate" means the rate of exchange between the euro and the currency of the amount recovered against a default Sum, as published by the European Central Bank at 2 p.m. Frankfurt time five EIB business days after the date on which the relevant amount is recovered and is freely available to the Bank. "Third-Party guarantee" has the meaning ascribed to it in the guarantee. "Third-Party Guarantor" has the meaning ascribed to it in the guarantee. "Subrogated Sum" means a sum to which the Guarantor is entitled to by virtue of a payment made by the Guarantor to the Bank under the guarantee. In this agreement, unless the context otherwise requires: (a) in the heading by for convenienc only and do not be affec the interpretation of this agreement; (b) words importing the singular include the plural and vice versa; and (c) a reference to an article, a party or an Annex is a reference to that article of, or that party or Annex to this agreement. Article 2 scope of the agreement 2.01 this agreement sets out the provision and procedures for the recovery of claims in respect of Subrogated Sum. 2.02 this Agreement shall apply to any guarantee granted by the Guarantor to the Bank in respect of the Guaranteed Sum provided that the Guarantor and the Bank expressly so agree in writing. Each party hereby declare to so agree, subject to any amendment to this agreement as may be subsequently agreed by the parties.
2.03 Each Guarantor confirm it is obligation as expressed in the guarantee and will appoint the Bank to administer Subrogated Sum for the purpose of effecting recovery in accordanc with the terms and conditions of this agreement. Article 3 Term of payment 3.01 When a default Sum under a Loan Agreement of «arise and remains outstanding for a period of approximately five months, the Bank shall make a call under the guarantee in respect thereof. 3.02 the Bank shall make a call in respect of a Guaranteed Sum in accordanc with and pursuan to the terms of the guarantee. The Guaranteed Sum demanded by the Bank under the guarantee shall be expressed in euro and shall be calculated at the Call date exchange rate. The time for payment by the Guarantor of a Guaranteed Sum shall be as specified in the guarantee. 3.02 the Bank shall apply the funds held in the LLC in discharge of the Guaranteed Sum on the Call date. To the exten that the funds be in the LLC's are not sufficient to discharge the Guaranteed Sum in full, the Bank shall on the Call date withdraw from each MSC an amount in proportion to the participation of the Guarantor of ' respectiv as provided in the guarantee. Debit interest will be payable on accru and any resulting negative balance of the MSC. Each Guarantor must pay to the Bank any resulting negative balance on its MSC under that call within the time for payment by the Guarantor of a Guaranteed Sum, as specified in the guarantee. Debit interest accrued on the MSC's shall be payable by the Guarantor for each year by the 31st of December, at the latest. 3.04 the Bank shall generate an account statement in respect of each call under a guarantee, the Guarantor of the informing non is applied from the LLC and the MSC in respect of the Guaranteed Sum and the resulting balance of the LLC and the MSC. 30th of April of 3.05 By each year, the Bank shall provide each Guarantor with a report setting out: (i) a non-exhaustiv of the forecast of the expected call under the guarantee for the current calendar year; and (ii) the recovery proceedings initiated on behalf of (s) and in the name of the Guarantor during the previous calendar year. Additionally, the Bank shall provide the Guarantor on a monthly basis with an electronic account statement in respect of the LLC and the MSC. Article 4 procedure following Recover to where the Bank recover 4.01 any Subrogated Sum of of (a) for the account of the Guarantor, the Bank shall without delay repay the undu into the LLC an amount equivalent to the non is applied from the LLC in discharge of the default Sum, less the amount of the fee due under article 5 shall be distributed Any amount remaining to the MSC in proportion to the participation of the Guarantor of ' respectiv as provided in the guarantee less the amount, of the fee due under article 5. The Bank shall, if not cessary, convert the recovered sum into euro and shall, for this purpose, apply the Recovery date exchange rate. 4.02 In the cases described in article 5.05 of the guarantee and if requested to do so by the Guarantor, should the value of a deposit or equivalent financial asset have diminished at the time when such deposit or equivalent financial asset made available by the Guaranteed Debtor for loan in the host country, being a Subrogated Sum, become the transferabl or convertible , the Bank shall make use of any rights and remedies conferred on it under, and to a framework agreement pursuan entered into between the Bank and the host Government, in order to seek to recover an amount òàæó to the amount of the devaluation. 4.03 subject to the instructions of a Guaranteed Debtor, the Bank may allocate any amount recovered in respect of a default Sum owed table by that Guaranteed Debtor in or towards the discharge of the same or any other default Sum owed table by the Guaranteed Debtor. For this purpose, the Bank may effect the conversion of currency that it may not be de cessary. Article 5 Remuneration of the Bank By way of remuneration 5.01 for the Bank's services to the Guarantor under this agreement and, in particular, for any temporary exchange risk incurred, each Guarantor shall severally pay to the Bank its respectiv share of the Recovery Administration fee. The fee shall be calculated at the rate of 2% p.a. as may be notified by the Bank and revised in accordanc with the applicable principles from time to time let down by the Bank's bodies and each shall be charged from day to day on the outstanding amount of each Guaranteed Sum less any recover in the obtained. It shall be payable for the period running from the due date of the default Sum to the date on which the Bank recover the last amount outstanding in respect thereof. The fee shall be calculated on the basis of a month of 30 days and a year of 360 days. The fee shall be payable in a single instalmen on each date on which any portions of a Guaranteed Sum is recovered. The fee shall be payable in euro and be calculated at the Recovery date exchange rate. 02 the five year from the date of entry into force of this agreement and thereafter at periodic intervals convenient, the Bank shall, if it is it appropriate, deemas proposes a revision of the rate for the calculation of the fee mentioned in the article 5. This revision shall take account of changes in the volume of work involved in the execution of this agreement and other relevant factors. Such revision may be upward or downward. Any downward revision shall take immediate effect. Any upward revision shall take effect upon receipt by the Bank of the consent of 75% by weight of the Guarantor, calculated as provided for in article 9. The Guarantor shall not unreasonably withhold or delay of their consent. Article 6 release from Administration Duty

6.01 the Bank shall be released from its duties of administration of a Subrogated Sum in the following: (a) circumstanc where, by a decision, having the consent of 75% or more Guarantor holdings by value of the aggregate Guarantor ' of the entitlement to the Subrogated Sum, as determined by the article 9 pursuan the Guarantor for the Bank to suspend authoris/abandonment further action in relations the theret other than it be non remi, recovered; (b) where the Bank of its duties renounc in respect of a Subrogated Sum by communication to the Guarantor made at any time after the later of (i) the 12th anniversary of the due date for payment and (ii) the date falling nine months from the due date for the last scheduled repaymen under the relevant Loan Agreement; or (c) where the Bank has amended the terms of an agreement with a Guaranteed Debtor pursuan to article 4.02 of the guarantee and such amendment has the effect of reducing or writing off a Guaranteed and/or Subrogated Sum, provided that in the relations of the Bank theret has at all times acted in accordanc with article 4.01 of the guarantee. 6.02 For the purpose of article 6.01 (a), the Bank shall suspend action towards the Guaranteed Debtor from the date on which the Bank is in receipt of a sufficient consent to form the required majority or, as the case may be, the date on which the Bank give it the Guarantor of a notice of renunciation, provided that suspension shall not prejudice the Bank's obligation to preserve the Guaranteed Debtor's liability for the default Sum and shall not prejudice the Bank's obligation It maintains the accounts in connection with the default Sum pursuan to this agreement. The Bank shall promptly notify the Guarantor of the suspension. The suspension is irreversibl. 6.03 If the Bank is released from its duty to endeavour to recover a Subrogated Sum, the Guarantor shall pay to the residual fee accrued up to the date of the release. However, if the Bank is released from its duty in connection with a Subrogated Sum by reason of the application of a general discharge, for example under the heavily indebted poor countries for the program (HIPC), the Recovery Administration fee shall be payable at the rate of 1% p.a., as may be revised and notified by the Bank in accordanc with the applicable principles from time to time let down by the Bank's bodies each , instead of the rate mentioned in article 5. The residual fee is payable and shall be debited from the LLC's and/or the MSC's two months from the date upon which the Bank's duty has ceased, as notified to the Guarantor by the Bank. Article 7 Tax and Expense of the Guarantor shall indemnify 7.01 of the Bank for all taxes incurred by the Bank in the carrying out of its duties under this agreement. The Bank shall account for any eventual reimbursemen of taxes from other sources. 7.02 In addition to any fee which may be payable under article 5, the Guarantor shall, in proportion to their share in the respectiv Guaranteed Sum, and up to the aggregate limit of 2% of the default Sum let down by article 1.01 of the guarantee, indemnify the Bank for all external expense incurred by the Bank in the reasonably. The said limit shall not apply where the Bank give it the Guarantor of prior written notice that it will incur the expense which may 12 the limit but which it believe will increase the net sum recovered. This indemnity shall be limited to expense for obtaining from third parties advice and services that the staff of the Bank could not reasonably provide. The Bank may be deduc such expense from any of the amount recovered against any Subrogated Sum. It shall render accounts to the Guarantor. The obligation of the Guarantor ' to conditional upon the Bank having first endeavoured and failed during a period of 90 days to obtain reimbursemen of the expense from the Guaranteed Debtor of. The Bank shall continue to seek from the Guaranteed Debtor reimbursemen, notwithstanding payment by the Guarantor. 8.01 Article 8 of the Law and Jurisdiction this Agreement shall be governed by and construed in accordanc with the general principles common to the laws of the Member States. Any dispute between the parties to this agreement that is not promptly and amicably resolved shall be referred for decision to the Court of Justice of the European Union Article 272 pursuan to of the Treaty on the Functioning of the European Union. Article 9 Amendments of Any amendment to this 9.01 agreement shall be concluded with the consent of the Bank and by the decision of 75% favourabl by weight of the Guarantor, as calculated by reference to the contributions of each Guarantor to the capital of the Bank. Each Guarantor individually agree to be bound by any amendment so decided. Article 10 10.01 notices and communications notices and other communications given hereunder to the Guarantor or to the Bank shall be sent by registered letter or other recognised means of communications addressed to the recipient at its address set out below: For a Guarantor: its address set out in the Annex For the Bank: 100, boulevard Konrad Adenauer L-2950 Luxembourg Any change to the address as listed in the above shall have effect only after such change has been notified in writing to the other parties. The Recital and the integral of the form an Annexe of this agreement. Article 11 the signature of agreement this agreement will be 11.01 bindings in respect of each Guarantor immediately upon it a valid signature or, as applicable, its ratification of the agreement and shall have effect from 1 January 2014. The authentic texts of 11.02 this Agreement shall be in English, French and German. Each Guarantor may sign in any one of the three authentic languages. 11.03 this agreement is signed in counterpart, each Guarantor signing two originals and delivering them to the Bank. The Bank shall deliver to each Guarantor one original signed counterpart by that Guarantor and the Bank. The Bank shall produce a conformed copy in the English language. In WITNESS WHEREOF each of the parties of the heret has caused this agreement to be signed by the authorised signatory of the it.




 
Annex list of addresses for the purpose of article 10

KINGDOM OF Belgium: Service Public Fédéral finances Administration de la Trésorer the questions of the Security of the International Financière et, Avenue des Arts 30 B-1040 Bruxelles REPUBLIC OF Bulgaria: Министерство финансите на Международни финансови и сътрудничество институции Дирекция "" "Европейски финансови" Отдел институции Улица Раковски "Република България", № 102 1040 София Ministry of Finance International Financial institutions and Cooperation Directorate European Financial institutions Department 102 Rakovsky str. 1040 Sofia Bulgaria Republic of Czech Republic : Mezinárodní vztahy Letenská 15 Ministerstvo financí CZ-118 10 Praha 1 KINGDOM OF DENMARK: udenrigsministeriet Asiatisk Plads 2 DK-1448 Copenhagen K FEDERAL REPUBLIC OF GERMANY-in: Forum der Finanzen Bundesministeri, referat Wilhelmstrass 97 D-10117 EA2 a Berlin Republic of Estonia: Rahandusministeeri Ameerik 1 of Suur-EE-15006 Tallinn IRELAND: Department of Finance International Financial institutions Section South Block government buildings Upper Merrion Street Dublin 2, IE-HELLENIC REPUBLIC Υπουργείο Οικονομίας και Οικονομικών: Γενικό Λογιστήριο Διεύθυνση του Κράτους 25, η Αθήνα Πανεπιστημίου 25 GR-10165, Ministry of Economy and finance, the General Accounting Office of the State 25th Directorate 25, Panepistimio Street GR-Athens: 10165 KINGDOM OF SPAIN Ministerio de Economí y Secretarí Regards, General del Tesoro y servicio de Polític Financier of Aval's Paseo del Prado, 6 E-28071 Madrid NUM. FRENCH REPUBLIC: the Ministèr de l ' Économ- , de l ' Industrie et de l'emploi Direction Générale du Trésor et de la politique des policy of Economic service of macroéconomiqu et des Affaires of the European 652 139 rue de Bercy Teledoc FR 75572 Paris CEDEX 12-REPUBLIC OF Croatia: Ministry of finance Katančićev, 5 HR-10000 Zagreb ITALIAN REPUBLIC: Ministero dell ' Economi-delle Finanz e del Tesoro, Dipartiment Rapport Finanziar-Ufficio Internazionale, via XI settembre XX 97 I-00187 Rome, REPUBLIC OF Cyprus Υπουργείο Οικονομικών και Επενδύσεων Διεύθυνση Χρηματοδοτήσεων: Γωνία Μιχαήλ Καραολή και Γρηγόρη Αυξεντίου CY-1439 Λευκωσία Ministry of finance finance and investment Division, Karaol and Grigori Afxentio Michael Str CY-1439 Nicosia REPUBLIC OF Latvia: the Latvian Ministry of finance sand Street 1 LV-1919 Rīga, the REPUBLIC OF Lithuania: Lietuvos respublikos finansų ministerij-01512 Lukiškių 2 LT-GRAND DUCHY OF LUXEMBOURG in Vilnius : Ministèr des finances 3, rue de la Congregation L-Luxembourg: mzetgazdaság in HUNGARY 2931 Minisztéri 1051 Budapest, nádor of József tér 2-4 REPUBLIC OF Malta: tal-Minister Finanz, l-u Investimen the economy of Triq in-Nofsinhar Maison Demandol MT-Valletta VLT 2000 KINGDOM OF the Netherlands: Ministerie van Financiën, Prinses Beatrixlaan 512 NL-2511 CW Den Haag REPUBLIC OF Austria: Museum für Finanzen Bundesministeri Sektion III, Finanzmärkt-Johannesgass und Wirtschaftspolitik 5 A-1010 Wien REPUBLIC OF POLAND ministerstwo Finansów: ul. 12 Świętokrzysk PL-00-916 Warsaw Portuguese: Ministério das Finanç REPUBLICA Direcçã-Geral do Tesour of the Rua da Alfândeg, 5-1 ° andar P-1194 Lisboa Romania: Ministerul Finantelor Directi for Economi general de trezorer si published the computer the str. Apolodor 17, sector 5, RO-Bucuresti REPUBLIC OF Slovenia: the Ministrstv za finance Župančičev 3 SI-1502 Ljubljana SLOVAK REPUBLIC Ministerstvo financií Slovenskej republiky: the medzinárodných Štefanovičov vzťahov sekci 5 SK-817 82 Bratislava REPUBLIC OF FINLAND: Ulkoasiainministeriö Yleisen Kehityspoliittinen osast kehityspolitiikan if the suunnittelun yksikkö katajanokanlaituri 3 FIN-00161 Helsinki KINGDOM OF SWEDEN: Finandepartemente Internationell Drottninggatan 21 of the S-10333 Stockholm avdelningen UNITED KINGDOM OF GREAT BRITAIN AND NORTHERN IRELAND : the Head of the Europe Department, Department for International Development, 22 Whitehall London Sw1a's PROTRACTED 2EG-debt management 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, Ireland, the Kingdom of Spain of the Republic, the Republic of CROATIA, the Italian Republic, the Republic of Cyprus, the Republic of Latvia, the Republic of LITHUANIA, the Grand Duchy of Luxembourg, the Republic of Hungary, the Republic of Malta, the Republic of AUSTRIA, the Kingdom of the Netherlands, the Republic of POLAND, the Portuguese Republic, the Republic of Romania, the Republic of SLOVENIA, the Slovak Republic Republic of Finland and the Kingdom of SWEDEN, the United Kingdom of Great Britain and Northern Ireland and the European investment The Bank, which supervises the payment and refund procedures under the guarantee contract for European Investment Bank loans for investment projects in Africa, the Caribbean and the Pacific, as well as the overseas countries and territories the Contracting Parties: the Kingdom of Belgium, Republic of Bulgaria, the Czech Republic, the Kingdom of Denmark, the Federal Republic of Germany, the Republic of Estonia, Ireland, the Hellenic Republic, the Kingdom of Spain, the French Republic, the Republic of Croatia, the Italian Republic, the Republic of Cyprus, the Republic of Latvia, the Republic of Lithuania Grand Duchy of Luxembourg, the Republic of Hungary, the Republic of 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, which works with the referred to in the annex to this agreement, the institutions representing the respective signature pages that signers (hereinafter individually – but joint guarantor, Guarantor or by the Member States –), of the one part, and the European investment bank, with the Central Office of the Boulevard Konrad Adenauer 100 , L-2950, Kiršberg, Grand Duchy of Luxembourg, its President Werner Hoijer [Werner Hoyer] person (hereinafter – the Bank), on the other hand, given that: 1. the Guarantor are contractual partners shall Guarantee the Bank concluded agreement (guarantee contract or guarantee) on loans granted by the Bank from its own resources under the 2013 on June 24 and 26 in Luxembourg and Brussels signed the conditions of the internal agreement relating to the financing of multiannual financial framework for the period from 2014 to 2020 in accordance with the 2000 June 23. Cotonou (Benin) on the conclusion of the partnership agreement between the European Community, its Member States and the African, Caribbean and Pacific countries, which was first reviewed in 25 June 2005 in Luxembourg and once amended by 22 June 2010 in Ouagadougou, and the allocation of financial assistance for the overseas countries and territories to which the Treaty is applicable for a quarter of EU actions under the Council on 27 November 2001 by decision 2001/822/EC on the overseas countries and territories with the European Union (in which, over time, made in accordance with the amendments and additions); 2. the guarantee requires that the Guarantor takes on the rights and obligations of the Bank to Provide the borrowers with the scope associated with the payments to be made under the guarantee of the guaranteeing association; 3. the Guarantor and the Bank using this contract (in which the guarantee is called protracted Cotonou II arrears Administration Agreement), intends to set out rules and procedures for the recovery of funds related to investment; 4. this Treaty provides a guarantee of entry into force of the Treaty, which lays down that, if the guarantor takes over the rights and obligations of the Bank towards the loans, the Bank and the guarantor must conclude an agreement on Bank loan administration and governance. This Treaty shall not preclude the Bank and the Guarantor shall make specific arrangements for the management of individual Loans. THE PARTIES AGREE ON THE FOLLOWING.

Article 1 definitions for the purposes of this agreement, "agreement" means this long-standing debt management contracts. "Request date" is the date on which the Guarantor the guarantee within the guarantee is requested from the obligations. "The exchange rate at the date of application" for any currency is a currency rate between the euro and the currency in which the European Central bank published by noon. 14.00 after the Frankfurt time 5 EIB business days before the date of Application. "Borrower" means the same as referred to in the guarantee. "Default date" is the date on which the borrower has Provided to be made of the amounts borrowed under the loan agreement, and to which that refund is received. "Outstanding" is the amount of debt that must be paid to ensure the borrower under the loan agreement, and which the repayment date is overdue. "The EIB work day" is the day on which the Bank is open to work in Luxembourg. "The EIB'S financial activity" means the same as referred to in the guarantee. "Guarantee agreement" or "warranty" means the same as referred to in the first recital. "A ensured the borrower" means the same as referred to in the contract of guarantee. ' Guarantee payment ' is the Guarantor of the guaranteed amount of the payments made to the Bank under the guarantee. "Guaranteed sum (s)" means the same as referred to in the guarantee. "Borrower" means the same as referred to in the guarantee. "Loan" means the same as referred to in the guarantee. "Loan agreement" means the same as referred to in the guarantee. "Lost loan settlement account" or "account" means the euro ZASK, what in the name of the guarantor Bank open for their risk mitigation, which guarantees within the Member States, and which are to be managed according to the rules and conditions which in the course of time determined by the Bank's management. ZASK is to be financed from (i) the income obtained from the application of EIB risk pricing financial operations approved by the Bank's management under the internal rules, (ii) recoveries and (iii) interest income on the loan at an interest rate of the day, determined and which inform the Bank according to the Bank's management of certain principles applicable and payable monthly. ZASK must be debited with (i) the payment of a guarantee under this agreement and (ii) the recovery of management fees, ensuring that there are sufficient funds in the account. "The contributions made by the Member States to account" or "DVIK" is a euro account that each Guarantor on behalf of the Bank and which is open to be managed according to the rules and conditions which in the course of time determined by the Bank's management. DVIK should be debited with (i) the guarantee payments pursuant to this agreement, (ii) debit interest payments at an interest rate of day and payable monthly, determined and inform the Bank according to the Bank's management of certain principles applicable, and (iii) the management of recovery of the payments. DVIK is credited with the guarantor (s) amounts equal to expected Warranty payments under the guarantee, and (ii) the amounts resulting from any negative balance and accrued interest debit and credit Bank from (i) recoveries and (ii) interest calculated from the date of the interest rates and payable monthly, determined and inform the Bank according to the Bank's management determine applicable principles. "Loss recovery management payment" or "payment" is that laid down in article 5 of the contract payment. "Recoveries" is part of the funds Invested by actually regained the Bank or which is paid to the Bank. "The exchange rate on the date of the recovery" is the exchange rate between the euro and the currency in which the recovered funds outstanding, by the European Central bank published by noon. 14.00 after the Frankfurt time 5 EIB working days after the day on which the amount is recovered and is freely available to the Bank. "Third party guarantee" means the same as referred to in the guarantee. "Third-party guarantor" means the same as referred to in the guarantee. "Investment funds" is a monetary amount to which the Guarantor are entitled, the Guarantor of payments made to the Bank under the guarantee. In this agreement, unless the context otherwise requires: (a) headings are for convenience only and shall not affect the interpretation of this agreement; (b) words expressed in the singular, denotes the plural and vice versa; and (c) the reference to the article, the part or attachment is a reference to this article of the Treaty, the part or attachment. Article 2 scope of the Agreement This Agreement sets out the 2.01 rules and procedures with regard to the recovery of the investment. 2.02 this contract applies to any Guarantor of Bank guarantees provided in respect of the guaranteed amount, provided that the Guarantor and the Bank agree in writing. Each party hereby agrees that this agreement can be amended if any of them reach further. 2.03 Each guarantor confirms its commitments referred to in the guarantee, and delegates administration of the Bank investment in order to ensure effective recovery under this terms and conditions. 3. Article 3.01 if the terms of payment under the loan agreement have outstanding features and they are not reimbursed for about 5 months, Bank Guarantee requested in the framework of the implementation of commitments. 3.02 the Bank requires the fulfillment of obligations in relation to the guaranteed amount under and in accordance with the guarantee of nsacījum. Guaranteed amount that a Bank is requested under the Warranty must be expressed in euro and must be calculated at the exchange rate of the National at the date of request. The guaranteed amount of the repayment term of Guarantee the guarantor is established. 3.02 the Bank must use ZASK means guaranteed amount paid on the date of the Request. To the extent that the means are not ZASK sufficiently guaranteed amount paid in full at the date of the Request, the Bank removed from each DVIK amount of money proportional to the participation of the Guarantor as set out in the guarantee. Accumulated debit interest is paid on any resulting negative balance DVIK. Each Guarantor must reimburse the Bank for any negative balance incurred DVIK guarantees the implementation of commitments in the framework of demand at a time when the Guarantor shall take repayment of the guaranteed amount, as laid down in the guarantee. DVIK debit accumulated interest should be the guarantor paid in each year not later than 31 December. 3.04 Bank must prepare an account statement for each warranty request under the guarantee, the guarantor of money informing the amounts used and the DVIK in the context of ZASK Guaranteed amounts, as well as on the remaining DVIK accounts and existing ZASK. for the year To 3.05 30. aprīlimBank must submit a report to each guarantor, which include: (i) a general forecast of the expected fulfilment of requests within the framework of the guarantee during the calendar year concerned; (ii) the recovery procedures undertaken on behalf of the guarantor and the Guarantor of the party during the previous calendar year. In addition, each month the Bank shall submit to the Guarantor for the electronic account statement for every significant change and DVIK accounts ZASK. Article 4 procedure after debt recovery 4.01 When Bank recovered any of the Guarantor Paid part of the funds, the Bank has to be repaid without delay ZASK account an amount of money equal to the amount used of funds outstanding payment ZASK, subtracting from the fee referred to in article 5. Any remaining funds are to be transferred in proportion to the participation of the guarantor DVIK, as set out in the guarantee, less the fee referred to in article 5. If necessary, the Bank converts the recovered amount in euros, using the exchange rate on the date of recovery. 4.02 guarantees 5.05. in the cases referred to in article and at the request of the guarantor if the deposit or equivalent financial asset is impaired when the deposit or equivalent financial assets, which provided the borrower has provided loans to Borrowers in the country as an investment, has become a convert to or convertible, the Bank shall exercise the rights and obligations conferred under the framework agreement, concluded between the Bank and the borrower Government to try to recover an amount of money equal to the amount of the impairment. According to the borrower's 4.03 instructions the Bank may grant any funds recovered some of the outstanding features that Ensure the borrower owes the same or any other outstanding features to cover part of what the borrower owes. For this reason, the Bank can use the currency converter when it deems necessary. Article 5 Payment to the bank

5.01 paying for the banking services provided to the guarantor under this agreement and, in particular, on temporary currency exchange risk, is individual to each guarantor to pay the Bank for their respective part of the loss recovery management payment. The fee is calculated at the rate of 2% a year, but it can be reviewed and may inform the Bank on it under the management of the Bank over time certain relevant principles, and is calculated every day from each of the remaining sum guaranteed, subtracting the amount recovered. It is to be paid for the time period since the outstanding features of the start date until the Bank recovers the last remaining amount. The fee is to be calculated on the basis that the month has 30 days, 360 days in the year. The fee must be made with a lump sum deposit each day when you recover a part of the sum secured. The fee must be made in euro and must be calculated at the exchange rate at the date of recovery. 02 the agreement five years after the date of its entry into force and thereafter at suitable intervals when the Bank considers it necessary, may propose a review of the calculation of the rate of the fee referred to in article 5. The review should take into account the changes in the volume of work to be undertaken in the framework of the implementation of this agreement, as well as other relevant factors. Changes can be both a cost increasing and decreasing. Reduction of the fee is to take effect immediately. Any fee increase may take effect after the Bank has received the consent of the Guarantor with the 75% vote share, which is calculated in accordance with article 9. The guarantor may not unreasonably delay or refrain from the expression of the consent. Article 6 exemption from administration of the Bank is 6.01 released from investment management responsibilities in the following cases: (a) when a decision supported by the Guarantor with 75% or more of total contract investment, as set out in article 9, the guarantor of Bank powers to suspend or waive the obligation further, except for the transfer of amounts recovered; (b) if the Bank waives duties relating to the investment by notifying the Guarantor of any time after the later of (i) the payment date 12 anniversary and (ii) 9 months from the last date of the planned repayment under the loan agreement; (c) if the Bank has amended the contract in accordance with article 4.02 the guarantee with the borrower, terms and such amendments to reduce or write off the amount of the guarantee or part of funds Invested, provided that in such case the Bank shall at all times acted in accordance with the provisions of article 4.01. under this article 6.01 6.02 (a) point the Bank can stop to take measures in relation to the borrower from the date when the Bank has received sufficient support to the creation of the necessary majority, or by the date when the Bank shall inform the Guarantor for a waiver, provided that such cancellation shall not affect the obligation of the Bank to ensure the borrower's obligations with respect to the outstanding features and does not affect the obligations of the Bank to maintain funds to the accounts associated with the funds not recovered under this agreement. The Bank must immediately inform the guaranteeing association of the abandonment of the duties. The waiver is permanent. 6.03 if the Bank is released from the obligation to try to recover the investment, the guarantor must pay the remaining charges that accumulated up to the release date. However, if the Bank is released from the obligation in respect of the investment of a general release programs, for example, Poor countries with high debt levels (HIPC) program, the loss recovery management fee is to be paid at the rate of 1% per year, which can be reviewed and what may inform the Bank according to the Bank's management principles rather than in accordance with the provisions of article 5. The remaining charges are taken out and debited from ZASK and/or DVIK accounts within 2 months from the date of the Bank's obligations are suspended, the Guarantor is notified in advance. Article 7 duties and expenses are to be compensated 7.01 Guarantor Bank all taxes paid by its obligations under this agreement. The Bank is accountable for any extreme drawback from different sources. 7.02 in addition to any possible charges that may be made pursuant to article 5, the guarantor of the guaranteed amount for their part and 2% limit, up to a total of the outstanding features of the guarantee in article 1.01 should be reimbursed all reasonable external expenses incurred to the Bank. The above restriction does not apply to cases where the Bank shall inform the guaranteeing association in writing in advance about the costs that could exceed the limit, but which in the view of the Bank will increase the amount recovered. This repayment covers the cost of third-party advice and services provided by Bank employees have been unable to provide adequate. The Bank can cover these costs from any amounts recovered from any investment. The Bank is the guarantor of the report must be submitted. The obligations of the guarantor is whether or not the Bank has tried and not been able to obtain during the 90-day repayment from the borrower provided. The Bank should continue to recover funds from the borrower, regardless of the payment of the guarantor. Article 8 applicable law and jurisdiction this agreement and 8.01 application will be carried out in accordance with the provisions of the General principles common to the laws of the Member States. Any dispute between parties to this Guarantee, which is not amicably resolved and immediately, should be submitted for review in the Court of the European Union pursuant to the Treaty on the functioning of the European Union Article 272. amendments to article 9 9.01 any amendment of this agreement can be implemented with the consent of the Bank and the Guarantor with the proportion of 75% calculated on each Guarantor in proportion to the part of the Bank's capital investment. Each guarantor individually agrees to the limitations arising from any change. Article 10 Notification and other information 10.01 the Bank addressed to the guarantor or statements or other information must be sent by registered mail or by any other recognized forms of communication to the recipient at the address below: guarantor: the address referred to in the annex to the Bank: 100, boulevard Konrad Adenauer L-2950 Luxembourg any changes to the addresses mentioned above can enter into force only after the written information of other parties about the change. Comments and attachments are an integral part of this agreement. Article 11 11.01 The signing of the contract the contract becomes binding on the guarantor immediately after everyone sign it or, if applicable, ratification and shall enter into force on January 1, 2014. 11.02 this agreement is authentic in the English, French and German languages. The guarantor must sign one of the three authentic languages this agreement of the original.
11.03 this agreement be drawn up in two original copies, each guarantor sign both documents and forward them to the Bank. The Bank will send to each guarantor one of these original copies, which will be both the Guarantor and the Bank's signature. The Bank will create a certified copy in English. In witness whereof, each of the parties have signed this agreement with officially authorized signature date specified.






 
Annex a list of Addresses for the purposes of article 10.

The Kingdom of Belgium: the Service Public Fédéral finances Administration de la Trésorer the questions of the Security of the International Financière et Financière et of International questions of Security, Avenue des Arts 30 B-1040 Bruxelles BULGARIA Republic: Министерство финансите на Външни финанси "" Отдел Дирекция "Европейски финансови" Раковски "," Улица институции № Република България 102 1040 София Ministry of Finance International Financial institutions and Cooperation Directorate European Financial institutions Department 102 Rakovsk η Κίνησης, str. 25 Διεύθυνση Κεφαλαίων , Εγγυήσεων Δανείων Αξιών & 1040 Sofia Republic of Bulgaria Czech Republic Ministerstvo financí Mezinárodní vztahy: Letenská 15 CZ-118 10 Praha 1, the Kingdom of Denmark: udenrigsministeriet Asiatisk Plads 2 DK-1448-Copenhagen K Federal Republic of Germany: der Finanzen of Bundesministeri, referat Wilhelmstrass 97 D-10117 EA2-Berlin: Rahandusministeeri of the Republic of Estonia Suur-Ameerik EE-1, 15006 Tallinn Ireland: Department of Finance International Financial institutions Section South Block government buildings Upper Merrion Street Dublin 2, IE-Hellenic Republic Υπουργείο Οικονομίας και Οικονομικών: Γενικό Λογιστήριο Διεύθυνση του Κράτους 25, η Αθήνα Πανεπιστημίου 25 GR-10165, Ministry of Economy and finance General Accounting Office of the State 25th Directorate 25, Panepistimio str GR-10165 Athens the Kingdom of Spain: Ministerio de Economí y Secretarí General del Tesoro Regards y servicio de Polític Financier of Aval's Paseo del Prado, 6 E-28014 Madrid NUM. French Republic: the Ministèr de l ' Économ- , de l ' Industrie et de l'emploi Direction Générale du Trésor et de la politique des policy of Economic service of macroéconomiqu et des Affaires of the European 652 139 rue de Bercy Teledoc FR 75572 Paris CEDEX 12-the Republic of Croatia: Ministry of finance Katančićev, 5 HR-10000 Zagreb, Republic of ITALY: Ministero dell ' Economi-delle Finanz e del Tesoro, Dipartiment Rapport Finanziar-Ufficio Internazionale, via XI settembre XX 97 I-00187 Rome, the Republic of Cyprus Υπουργείο Οικονομικών και Επενδύσεων Διεύθυνση Χρηματοδοτήσεων: Γωνία Μιχαήλ Καραολή και Γρηγόρη Αυξεντίου CY-1439 Λευκωσία Ministry of finance finance and investment Division, Karaol and Grigori Afxentio Michael Str CY-1439 Nicosia Republic of Latvia: the Latvian Ministry of finance sand Street 1 LV-1919 Rīga, the Republic of Lithuania: Lietuvos respublikos finansų ministerij-01512 Lukiškių 2 LT-Vilnius, the Grand Duchy of Luxembourg: Ministèr des finances 3 Rue de la Congregation L-2931 Luxembourg of Hungary: mzetgazdaság Not in Minisztéri of József nádor tér 1051 Budapest, 2-4: Prime Minister of MALTA tal-Finanz, l-u Investimen the economy of Triq in-Nofsinhar Maison Demandol MT-Valletta VLT 2000 the Netherlands: Ministerie van Financiën Prinses Beatrixlaan 512 NL-2511 CW Den Haag of the Austrian Republic: Bundesministeri für Wirtschaftspolitik und Finanzen Sektion III, Finanzmärkt-Johannesgass, A-1010 Wien 5 Republic of Poland ministerstwo Finansów: ul. 12 Świętokrzysk PL-00-916 Warsaw the Portuguese Republic: Ministério das Finanç Direcçã Tesour of the Geral do the Rua da Alfândeg, 5-1 ° andar P-1194 Lisboa Romania: Ministerul Finantelor Directi for Economi general de trezorer si published the computer the str. Apolodor 17, sector 5, RO-Bucuresti: Ministrstv of the Republic of Slovenia za finance Župančičev 3 SI-1502 Ljubljana Slovak Republic Ministerstvo financií Slovenskej republiky: the medzinárodných vzťahov Sekci Štefanovičov SK-817 82 Bratislava 5, the Republic of Finland: Ulkoasiainministeriö Yleisen Kehityspoliittinen osast kehityspolitiikan if the suunnittelun yksikkö katajanokanlaituri 3 FIN-00161 Helsinki: the Kingdom of Sweden to the 21st Finandepartemente Internationell S-10333 Stockholm avdelningen Drottninggatan United Kingdom of Great Britain and Northern Ireland: the Head of European Union Department , Department for International Development, 22 Whitehall London Sw1a-UK-2EG