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+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(1)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-ARGYLE MARITIME
CORP.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-, +ADw-strong+AD4-CATON MARITIME
CORP.+ADw-/strong+AD4-, +ADw-strong+AD4-DORCHESTER MARITIME
CORP.+ADw-/strong+AD4-, +ADw-strong+AD4-LONGWOODS MARITIME
CORP.+ADw-/strong+AD4-, +ADw-strong+AD4-McHENRY MARITIME CORP.
+ADw-/strong+AD4-and +ADw-strong+AD4-SUNSWYCK MARITIME
CORP.+ADw-/strong+AD4-, as Joint and Several Obligors+ADs-
and+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(2)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-THE ROYAL BANK OF SCOTLAND
PLC+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-, as
Issuer+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-BACKGROUND+ADw-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:45.0pt'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-The Issuer has agreed to make
available to the Obligors a guarantee facility of up to
+ACQ-84,000,000 to provide performance guarantees in relation to
the payment of the second, third and fourth scheduled stage
payments payable under the shipbuilding contracts for each of six
newbuilding multipurpose carriers to be built at Yahua Shipyard,
China having hull nos. NYHS200720, NYHS200721, NYHS200722,
NYHS200723, NYHS200724 and NYHS200725.+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-IT IS
AGREED+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- as
follows:+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div+AD4-
+ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-1+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-INTERPRETATION+ADw-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-1.1+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Definitions.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- Subject to Clause 1.5, in this
Agreement:+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Approved
Managers+ADw-/strong+AD4gHQ- means, Roymar Ship Management Inc., a
company incorporated under the laws of New York and having a place
of business at 612 East Grassy Sprain Road, Yonkers, New York
10710, USA or such other company as the Issuer may from time to
time approve as manager of the Ships+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Availability
Period+ADw-/strong+AD4gHQ- means the period commencing on the date
of this Agreement and ending on:+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(a)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-30 April 2007 (or such later date
as the Issuer may agree with the Obligors)+ADs-
or+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(b)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-if earlier, the date on which the
Commitment is fully cancelled or
terminated+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Available
Commitment+ADw-/strong+AD4gHQ- means, at any time, the Commitment
less the Outstandings at that time+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Bank of America
Facilities+ADw-/strong+AD4gHQ- means the credit facilities made
available to Albermarle Maritime Corp and others pursuant to the
credit agreement dated 31 July 2006 made between Albermarle
Maritime Corp, the Corporate Guarantor, Bank of America N.A. and
others+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div+AD4-
+ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Builder+ADw-/strong+AD4gHQ-
means Nantong Yahua Shipbuilding Co. Ltd., a corporation organised
and existing under the laws of the People+IBk-s Republic of Chins,
having its registered office at 1 Hongzha Road, Jiuweigang, Nantong
Jiangsu P.C. 226 361, The People+IBk-s Republic of
China+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div+AD4-
+ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Business
Day+ADw-/strong+AD4gHQ- means a day on which banks are open for
general business in London and, in respect of a day on which a
payment is required to be made under a Finance Document, also in
New York City+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-China
Communications+ADw-/strong+AD4gHQ- means China Communications
Construction Company Ltd, a corporation organised and existing
under the laws of the People+IBk-s Republic of China, having its
registered office at No. C88, An Ding Men Wai Street, Beijing
100011, the People+IBk-s Republic of
China+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div+AD4-
+ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Commitment+ADw-/strong+AD4gHQ-
means +ACQ-84,000,000 as that amount may be reduced, cancelled or
terminated in accordance with this
Agreement+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Contract
Price+ADw-/strong+AD4gHQ- means, in relation to each Ship, the
aggregate amount payable to the Seller pursuant to the terms of the
Shipbuilding Contract for such Ship being in each case
+ACQ-35,420,000+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Contractual
Currency+ADw-/strong+AD4gHQ- has the meaning given in Clause
15.4+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Corporate
Guarantee+ADw-/strong+AD4gHQ- means a guarantee in the form set out
in Appendix B+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Corporate
Guarantor+ADw-/strong+AD4gHQ- means TBS International Limited, a
company incorporated under the laws of Bermuda having its principal
office at Suite 306, Commerce Building, One Chancery Lane, Hamilton
HM12, Bermuda+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Dollars+ADw-/strong+AD4gHQ-
and +IBwAPA-strong+AD4AJAA8-/strong+AD4gHQ- means the lawful
currency for the time being of the United States of
America+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Event of
Default+ADw-/strong+AD4gHQ- means any of the events or
circumstances described in Clause 13.1+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Fee
Letter+ADw-/strong+AD4gHQ- means any letter dated on or about the
date of this Agreement between the Issuer and the Obligors setting
out any fees referred to in Clause 14.1+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4-+ADw-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Finance
Documents+ADw-/strong+AD4gHQ- means:+ADw-/span+AD4APA-/p+AD4-
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and+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
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style+AD0-'font-size:10.0pt'+AD4-(f)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
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style+AD0-'font-size:10.0pt'+AD4-any other document (whether
creating a Security Interest or not) which is executed at any time
by the Obligor or any other person as security for, or to establish
any form of subordination or priorities arrangement in relation to,
any amount payable to the Issuer under this Agreement or any of the
other documents referred to in this
definition+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
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class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
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class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Financial
Indebtedness+ADw-/strong+AD4gHQ- means, in relation to a person
(the +IBwAPA-strong+AD4-debtor+ADw-/strong+AD4gHQ-), a liability of
the debtor:+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
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border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
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style+AD0-'font-size:10.0pt'+AD4-for principal, interest or any
other sum payable in respect of any moneys borrowed or raised by
the debtor+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
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cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
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style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(b)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
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0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-under any loan stock, bond, note
or other security issued by the debtor+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(c)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
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0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-under any acceptance credit,
guarantee or letter of credit facility made available to the
debtor+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(d)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
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0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-under a financial lease, a
deferred purchase consideration arrangement or any other agreement
having the commercial effect of a borrowing or raising of money by
the debtor (other than normal trade credit not exceeding 180
days)+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(e)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-under any foreign exchange
transaction, any interest or currency swap or any other kind of
derivative transaction entered into by the debtor or, if the
agreement under which any such transaction is entered into requires
netting of mutual liabilities, the liability of the debtor for the
net amount+ADs- or +ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(f)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-under a guarantee, indemnity or
similar obligation entered into by the debtor in respect of a
liability of another person which would fall within paragraphs (a)
to (e) if the references to the debtor referred to the other
person+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Guarantee+ADw-/strong+AD4gHQ-
means each guarantee issued or to be issued in favour of the Seller
substantially in the form set out in Appendix
C+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Guarantee Issue
Date+ADw-/strong+AD4gHQ- means, in relation to a Guarantee, the
date requested by the relevant Obligor for the Guarantee to be
issued or (as the context requires) the date on which the Guarantee
is actually issued+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Guarantee Issue
Request+ADw-/strong+AD4gHQ- means, in relation to a Guarantee, a
notice in the form of Schedule 1 (or in any other form which the
Issuer approves or reasonably requires)+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Guaranteed
Obligations+ADw-/strong+AD4gHQ- means, in relation to a Guarantee,
the actual and contingent, certain and future obligations and
liabilities owed by the relevant Obligor to the Seller and secured
by the Guarantee+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Intercreditor
Agreement+ADw-/strong+AD4gHQ- means the intercreditor agreement
executed or to be executed between the Obligors, the Issuer and the
Security Trustee in the form set out in Appendix
D+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Issuer+ADw-/strong+AD4gHQ-
means The Royal Bank of Scotland plc, acting through the Shipping
Business Centre, 5-10 Great Tower Street, London EC3R 3HX (or
through another branch or office notified to the Issuer under
Clause 20.6) or its direct or indirect successor or
assign+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-LIBOR+ADw-/strong+AD4gHQ-
means, for any period for which a rate of interest is to be
determined under this Agreement:+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(a)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-the rate per annum equal to the
offered quotation for deposits in Dollars for a period equal to, or
as near as possible equal to, that period which appears on REUTERS
BBA Page LIBOR 01 at or about 11.00 a.m. (London time) on the
Quotation Date for that period (and, for the purposes of this
Agreement, +IBw-REUTERS BBA Page LIBOR 01+IB0- means the display
designated as +IBw-REUTERS BBA Page LIBOR 01+IB0- on the Reuters
Money News Service or such other page as may replace REUTERS BBA
Page LIBOR 01 on that service for the purpose of displaying rates
comparable to that rate or on such other service as may be
nominated by the British Bankers+IBk- Association as the
information vendor for the purpose of displaying British
Bankers+IBk- Association Interest Settlement Rates for
Dollars)+ADs- or+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(b)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-if no rate is quoted on REUTERS
BBA Page LIBOR 01 the rate per annum determined by the Issuer to be
the rate at which deposits in Dollars are offered to the Issuer by
leading banks in the London Interbank Market at the Issuer+IBk-s
request at or about 11.00 a.m. (London time) on the Quotation Date
for that period for a period equal to that period and for delivery
on the first Business Day of it+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4-+ADw-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Loan
Agreement+ADw-/strong+AD4gHQ- means the loan agreement of even date
herewith made between (among others) the Obligors as joint and
several borrowers, the banks and financial institutions listed in
the Schedule 1 thereto as lenders and the Security Trustee relating
to a loan facility of up to
+ACQ-150,000,000+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Obligor
A+ADw-/strong+AD4gHQ- means Argyle Maritime Corp., being a
corporation organised and existing under the laws of the Marshall
Islands and having its registered office at Trust Company Complex,
Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands, MH
96960+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div+AD4-
+ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Obligor
B+ADw-/strong+AD4gHQ- means Caton Maritime Corp., being a
corporation organised and existing under the laws of the Marshall
Islands and having its registered office at Trust Company Complex,
Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands, MH
96960+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div+AD4-
+ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Obligor
C+ADw-/strong+AD4gHQ- means Dorchester Maritime Corp., being a
corporation organised and existing under the laws of the Marshall
Islands and having its registered office at Trust Company Complex,
Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands, MH
96960+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div+AD4-
+ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Obligor
D+ADw-/strong+AD4gHQ- means Longwoods Maritime Corp., being a
corporation organised and existing under the laws of the Marshall
Islands and having its registered office at Trust Company Complex,
Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands, MH
96960+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div+AD4-
+ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Obligor
E+ADw-/strong+AD4gHQ- means McHenry Maritime Corp., being a
corporation organised and existing under the laws of the Marshall
Islands and having its registered office at Trust Company Complex,
Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands, MH
96960+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div+AD4-
+ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Obligor
F+ADw-/strong+AD4gHQ- means Sunswyck Maritime Corp., being a
corporation organised and existing under the laws of the Marshall
Islands and having its registered office at Trust Company Complex,
Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands, MH
96960+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div+AD4-
+ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Obligors+ADw-/strong+AD4gHQ-
means together Obligor A, Obligor B, Obligor C, Obligor D, Obligor
E and Obligor F and, in the singular, means any of
them+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div+AD4-
+ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHA-Other Pre-delivery Security
Assignments+IB0- +ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-means the Pre-delivery Security
Assignments as defined in the Loan
Agreement+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div+AD4-
+ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Outstanding
Guarantee Amount+ADw-/strong+AD4gHQ- means, in relation to a
Guarantee, the maximum amount for which the Guarantee was issued
less the aggregate amount of all reductions to it which have been
made in accordance with the provisions of Clause
3.1+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Outstandings+ADw-/strong+AD4gHQ-
means, at any time, the aggregate of the Outstanding Guarantee
Amounts+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHA-Overall
Agreement+IB0APA-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- means the overall agreement dated
24 February 2007 relating to the Shipbuilding Contracts and made
between the Corporate Guarantor and the
Seller+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Payment
Currency+ADw-/strong+AD4gHQ- has the meaning given in Clause
15.4+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Permitted Security
Interests+ADw-/strong+AD4gHQ- means:+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(a)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Security Interests created by the
Finance Documents and Other Pre-delivery Security
Assignments+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(b)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-any Security Interest created in
favour of a plaintiff or defendant in any proceedings or
arbitration as security for costs and expenses where the relevant
Obligor is actively prosecuting or defending such proceedings or
arbitration in good faith+ADs- and+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(c)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Security Interests arising by
operation of law in respect of taxes which are not overdue for
payment or in respect of taxes being contested in good faith by
appropriate steps and in respect of which appropriate reserves have
been made+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Pertinent
Jurisdiction+ADw-/strong+AD4gHQ-, in relation to a company,
means:+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(a)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-England and
Wales+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(b)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-the country under the laws of
which the company is incorporated or
formed+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(c)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
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0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-a country in which the
company+IBk-s central management and control is or has recently
been exercised+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(d)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-a country in which the overall net
income of the company is subject to corporation tax, income tax or
any similar tax+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
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+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(e)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
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0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-a country in which assets of the
company (other than securities issued by, or loans to, related
companies) having a substantial value are situated, in which the
company maintains a permanent place of business, or in which a
Security Interest created by the company must or should be
registered in order to ensure its validity or priority+ADs-
and+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(f)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-a country the courts of which have
jurisdiction to make a winding up, administration or similar order
in relation to the company or which would have such jurisdiction if
their assistance were requested by the courts of a country referred
to in paragraphs (b) or (c) above+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Potential Event of
Default+ADw-/strong+AD4gHQ- means an event or circumstance which,
with the giving of any notice, the lapse of time, a determination
(where required) of the Issuer and/or the satisfaction of any other
condition, would constitute an Event of
Default+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Pre-delivery
Security Assignment+ADw-/strong+AD4gHQ- means, in relation to each
Shipbuilding Contract and corresponding Refund Guarantees, an
assignment of the relevant Obligor+IBk-s rights under such
Shipbuilding Contract and Refund Guarantees to be executed by the
relevant Obligor in favour of the Issuer in the form set out in
Appendix A+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div+AD4-
+ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Quotation
Date+ADw-/strong+AD4gHQ- means, in relation to any period for which
an interest rate is to be determined under any provision of a
Finance Document, the day on which quotations would ordinarily be
given by leading banks in the London Interbank Market for deposits
in the currency in relation to which such rate is to be determined
for delivery on the first day of that
period+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Refund
Guarantee+ADw-/strong+AD4gHQ- means, in relation to each Ship each
refund guarantee issued by the Refund Guarantor in favour of the
relevant Obligor pursuant to the Shipbuilding Agreement in respect
of such Ship+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Refund
Guarantor+ADw-/strong+AD4gHQ- means Bank of Communications acting
through its branch at 33 Jin Rong Da Jie, Xichang District, Beijing
100032, The People's Republic of China+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4-+ADw-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Relevant
Person+ADw-/strong+AD4gHQ- has the meaning given in Clause
13.7+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Security
Interest+ADw-/strong+AD4gHQ- means:+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(a)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-a mortgage, charge (whether fixed
or floating) or pledge, any maritime or other lien or assignment by
way of security or any other security interest of any
kind+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(b)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-the security rights of a plaintiff
under an action +ADw-em+AD4-in rem+ADw-/em+AD4AOw-
and+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(c)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-any arrangement entered into by a
person (A) the effect of which is to place another person (B) in a
position which is similar, in economic terms, to the position in
which B would have been had he held a security interest over an
asset of A+ADs- but this paragraph (c) does not apply to a right of
set off or combination of accounts conferred by the standard terms
of business of a bank or financial
institution+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Security
Party+ADw-/strong+AD4gHQ- means the Corporate Guarantor and any
other person who, as a surety or mortgagor, as a party to any
subordination or priorities arrangement, or in any similar
capacity, executes a document falling within the last paragraph of
the definition of +IBw-Finance Documents+IB0- (but for the
avoidance of doubt +IBw-Security Party+IB0- shall not include the
Issuer and the creditor parties under the Loan
Agreement)+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Security
Period+ADw-/strong+AD4gHQ- means the period commencing on the date
of this Agreement and ending on the date on which the Issuer
notifies the Obligors and the Security Parties
that:+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(a)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-all amounts which have become due
for payment by the Obligors or any Security Party under the Finance
Documents have been paid+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(b)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-no amount is owing or has accrued
(without yet having become due for payment) under any Finance
Document+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(c)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-none of the Obligors nor any
Security Party has any future or contingent liability under Clause
14, 15 or 16 or any other provision of this Agreement or another
Finance Document+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(d)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-the Issuer does not consider that
there is a significant risk that any payment or transaction under a
Finance Document would be set aside, or would have to be reversed
or adjusted, in any present or possible future bankruptcy of an
Obligor or a Security Party or in any present or possible future
proceeding relating to a Finance Document or any asset covered (or
previously covered) by a Security Interest created by a Finance
Document+ADs- and+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(e)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-each Guarantee has been returned
to the Issuer by the Seller endorsed to the effect that it is
cancelled+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Security
Trustee+ADw-/strong+AD4gHQ- means The Royal Bank of Scotland plc
acting in the capacity of security trustee in relation to the Loan
Agreement and the loan facility to be made available
thereunder+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Seller+ADw-/strong+AD4gHQ-
means together China Communications and the
Builder+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Settlement
Amount+ADw-/strong+AD4gHQ- means, in relation to a Guarantee, the
amount payable or as the case may be paid by the Issuer to the
Seller in respect of the Guarantee+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Settlement
Date+ADw-/strong+AD4gHQ- means, in relation to a Guarantee, the
date on which payment of the Settlement Amount is due to the Seller
in respect of the Guarantee+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Ship
A+ADw-/strong+AD4gHQ- means the multipurpose bulk carrier of about
35,000 dwt having Builder+IBk-s Hull No. NYHS200720 to be
constructed and sold by the Seller and to be purchased by Obligor A
pursuant to the relevant Shipbuilding
Contract+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div+AD4-
+ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Ship
B+ADw-/strong+AD4gHQ- means the multipurpose bulk carrier of about
35,000 dwt having Builder+IBk-s Hull No. NYHS200721 to be
constructed and sold by the Seller and to be purchased by Obligor B
pursuant to the relevant Shipbuilding
Contract+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div+AD4-
+ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Ship
C+ADw-/strong+AD4gHQ- means the multipurpose bulk carrier of about
35,000 dwt having Builder+IBk-s Hull No. NYHS200722 to be
constructed and sold by the Seller and to be purchased by Obligor C
pursuant to the relevant Shipbuilding
Contract+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div+AD4-
+ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Ship
D+ADw-/strong+AD4gHQ- means the multipurpose bulk carrier of about
35,000 dwt having Builder+IBk-s Hull No. NYHS200723 to be
constructed and sold by the Seller and to be purchased by Obligor D
pursuant to the relevant Shipbuilding
Contract+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div+AD4-
+ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Ship
E+ADw-/strong+AD4gHQ- means the multipurpose bulk carrier of about
35,000 dwt having Builder+IBk-s Hull No. NYHS200724 to be
constructed and sold by the Seller and to be purchased by Obligor E
pursuant to the relevant Shipbuilding
Contract+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div+AD4-
+ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Ship
F+ADw-/strong+AD4gHQ- means the multipurpose bulk carrier of about
35,000 dwt having Builder+IBk-s Hull No. NYHS200725 to be
constructed and sold by the Seller and to be purchased by Obligor F
pursuant to the relevant Shipbuilding
Contract+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div+AD4-
+ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADs-+ADw-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Shipbuilding
Contract+ADw-/strong+AD4gHQ- means, in relation to Ship A, the
shipbuilding contract dated 24 February 2007 made between the
Seller and Obligor A in respect of such Ship, in relation to Ship
B, the shipbuilding contract dated 24 February 2007 made between
the Seller and Obligor B in respect of such Ship, in relation to
Ship C, the shipbuilding contract dated 24 February 2007 made
between the Seller and Obligor C in respect of such Ship, in
relation to Ship D, the shipbuilding contract dated 24 February
2007 made between the Seller and Obligor D in respect of such Ship,
in relation to Ship E, the shipbuilding contract dated 24 February
2007 made between the Seller and Obligor E in respect of such Ship
and, in relation to Ship F, the shipbuilding contract dated 24
February 2007 made between the Seller and Obligor F in respect of
such Ship and in each case, as supplemented by the Overall
Agreement+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div+AD4-
+ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Ships+ADw-/strong+AD4gHQ-
means together Ship A, Ship B, Ship C, Ship D, Ship E and Ship F
and, in the singular, means any of them+ADs-
and+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-Termination
Date+ADw-/strong+AD4gHQ- means:+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(a)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-in relation to the Guarantee to be
issued in respect of Ship A, 28 February
2010+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(b)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-in relation to the Guarantee to be
issued in respect of Ship B, 31 August
2010+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4-+ADw-span
style+AD0-'font-size:10.0pt'+AD4-(c)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-in relation to the Guarantee to be
issued in respect of Ship C, 31 January
2011+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(d)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-in relation to the Guarantee to be
issued in respect of Ship D, 31 May
2011+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(e)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-in relation to the Guarantee to be
issued in respect of Ship E, 30 March 2011+ADs-
and+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(f)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-in relation to the Guarantee to be
issued in respect of Ship F, 31 July 2011.+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-1.2+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Construction of certain
terms.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- In this
Agreement:+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-asset+ADw-/strong+AD4gHQ-
includes every kind of property, asset, interest or right,
including any present, future or contingent right to any revenues
or other payment+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-company+ADw-/strong+AD4gHQ-
includes any partnership, joint venture and unincorporated
association+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-consent+ADw-/strong+AD4gHQ-
includes an authorisation, consent, approval, resolution, licence,
exemption, filing, registration, notarisation and
legalisation+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-contingent
liability+ADw-/strong+AD4gHQ- means a liability which is not
certain to arise and/or the amount of which remains
unascertained+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-document+ADw-/strong+AD4gHQ-
includes a deed+ADs- also a letter, fax or
telex+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-expense+ADw-/strong+AD4gHQ-
means any order or decree, any kind of cost, charge or expense
(including all legal costs, charges and expenses) and any
applicable value added or other tax+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-law+ADw-/strong+AD4gHQ-
includes any order or decree, any form of delegated legislation,
any treaty or international convention and any regulation,
directive, decision or resolution of the Council of the European
Union, the European Commission, the United Nations or its Security
Council+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-legal or
administrative action+ADw-/strong+AD4gHQ- means any legal
proceeding or arbitration and any administrative or regulatory
action or investigation+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-liability+ADw-/strong+AD4gHQ-
includes every kind of debt or liability (present or future,
certain or contingent), whether incurred as principal or surety or
otherwise+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-months+ADw-/strong+AD4gHQ-
shall be construed in accordance with Clause
1.3+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-parent
company+ADw-/strong+AD4gHQ- has the meaning given in Clause
1.4+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-person+ADw-/strong+AD4gHQ-
includes any company+ADs- any state, political sub-division of a
state and local or municipal authority+ADs- and any international
organisation+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-policy+ADw-/strong+AD4gHQ-,
in relation to any insurance, includes a slip, cover note,
certificate of entry or other document evidencing the contract of
insurance or its terms+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-regulation+ADw-/strong+AD4gHQ-
includes any regulation, rule, official directive, request or
guideline whether or not having the force of law of any
governmental, intergovernmental or supranational body, agency,
department or regulatory, self-regulatory or other authority or
organisation+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-subsidiary+ADw-/strong+AD4gHQ-
has the meaning given in Clause 1.4+ADs-
and+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4gHAA8-strong+AD4-tax+ADw-/strong+AD4gHQ-
includes any present or future tax, duty, impost, levy or charge of
any kind which is imposed by any state, any political sub-division
of a state or any local or municipal authority (including any such
imposed in connection with exchange controls), and any connected
penalty, interest or fine.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-1.3+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Meaning of
+IBw-month+IB0-.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- A period of one or more
+IBwAPA-strong+AD4-months+ADw-/strong+AD4gHQ- ends on the day in
the relevant calendar month numerically corresponding to the day of
the calendar month on which the period started
(+IBwAPA-strong+AD4-the numerically corresponding
day+ADw-/strong+AD4gHQ-), but:+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(a)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-on the Business Day following the
numerically corresponding day if the numerically corresponding day
is not a Business Day or, if there is no later Business Day in the
same calendar month, on the Business Day preceding the numerically
corresponding day+ADs- or+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(b)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-on the last Business Day in the
relevant calendar month, if the period started on the last Business
Day in a calendar month or if the last calendar month of the period
has no numerically corresponding day+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-and
+IBwAPA-strong+AD4-month+ADw-/strong+AD4gHQ- and
+IBwAPA-strong+AD4-monthly+ADw-/strong+AD4gHQ- shall be construed
accordingly.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div+AD4-
+ADw-p
class+AD0-MsoNormal+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-1.4+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Meaning of
+IBw-subsidiary+IB0-.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- A company (S) is a subsidiary of
another company (P) if:+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(a)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-a majority of the issued shares in
S (or a majority of the issued shares in S which carry unlimited
rights to capital and income distributions) are directly owned by P
or are indirectly attributable to P+ADs-
or+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(b)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-P has direct or indirect control
over a majority of the voting rights attaching to the issued shares
of S+ADs- or+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(c)+ADw-/span+AD4APA-span
style+AD0-'color:black+ADs-letter-spacing:9.0pt'+AD4AJg-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-P has the direct or indirect power
to appoint or remove a majority of the directors of S+ADs-
or+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
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Finance Document or any other document being in the form of a
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Document or any provision of a Finance Document, all clause,
sub-clause and other headings in that and any other Finance
Document shall be entirely disregarded.+ADw-/span+AD4APA-/p+AD4-
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style+AD0-'font-size:10.0pt'+AD4- Subject to the other provisions
of this Agreement, the Issuer shall make available to the Obligors
a guarantee facility in an amount of +ACQ-84,000,000 which shall be
made available by the following
Guarantees:+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
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style+AD0-'font-size:10.0pt'+AD4-a Guarantee in an amount not
exceeding +ACQ-14,000,000 as a performance guarantee in favour of
the Seller to secure the second, third and fourth instalments of
the Contract Price due from the relevant Obligor under the
Shipbuilding Contract for Ship A+ADsAPA-/span+AD4APA-/p+AD4-
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style+AD0-'font-size:10.0pt'+AD4-a Guarantee in an amount not
exceeding +ACQ-14,000,000 as a performance guarantee in favour of
the Seller to secure the second, third and fourth instalments of
the Contract Price due from the relevant Obligor under the
Shipbuilding Contract for Ship B+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
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style+AD0-'font-size:10.0pt'+AD4-a Guarantee in an amount not
exceeding +ACQ-14,000,000 as a performance guarantee in favour of
the Seller to secure the second, third and fourth instalments of
the Contract Price due from the relevant Obligor under the
Shipbuilding Contract for Ship C+ADsAPA-/span+AD4APA-/p+AD4-
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style+AD0-'font-size:10.0pt'+AD4-a Guarantee in an amount not
exceeding +ACQ-14,000,000 as a performance guarantee in favour of
the Seller to secure the second, third and fourth instalments of
the Contract Price due from the relevant Obligor under the
Shipbuilding Contract for Ship D+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(e)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
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0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-a Guarantee in an amount not
exceeding +ACQ-14,000,000 as a performance guarantee in favour of
the Seller to secure the second, third and fourth instalments of
the Contract Price due from the relevant Obligor under the
Shipbuilding Contract for Ship E+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(f)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-a Guarantee in an amount not
exceeding +ACQ-14,000,000 as a performance guarantee in favour of
the Seller to secure the second, third and fourth instalments of
the Contract Price due from the relevant Obligor under the
Shipbuilding Contract for Ship F.+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-2.2+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Request for issue of
Guarantees.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- Subject to the following
conditions, an Obligor may make a request for a Guarantee to be
issued by ensuring that the Issuer receives a completed Guarantee
Issue Request not later than 11 a.m. (London time) 3 Business Days
prior to the intended Guarantee Issue
Date.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-2.3+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Availability.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- The conditions referred to in
Clause 2.2 are that:+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4-+ADw-span
style+AD0-'font-size:10.0pt'+AD4-(a)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-a Guarantee Issue Date has to be a
Business Day during the Availability Period+ADs-
+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(b)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-the maximum amount of a Guarantee
shall be +ACQ-14,000,000 and shall not, when aggregated with the
amount of all other issued Guarantees, exceed the
Commitment+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(c)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-the Issuer must receive, together
with the Guarantee Issue Request, a final draft of the form of
Guarantee which it is being requested to issue on the intended
Guarantee Issue Date+ADs- and+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(d)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-the form of each Guarantee has to
be approved in writing by the Issuer at least 2 Business Days prior
to the intended Guarantee Issue Date but it must in any event
contain express provisions:+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(i)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-limiting the total amount payable
by the Issuer under it to a stated maximum amount in Dollars+ADs-
and+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(ii)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-stating that it shall expire or be
reduced to zero not later than the relevant Termination
Date.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-2.4+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Cancellation of guarantee
facility.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- The Obligor may cancel the
Available Commitment in whole or in part subject to the condition
that the Issuer has received from the Obligor at least 7 Business
Days+IBk- prior written notice specifying the amount to be
cancelled and the date on which the cancellation is to take effect.
The Commitment shall be reduced permanently by the amount of the
Available Commitment so cancelled.+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-2.5+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Change of beneficial ownership of
Obligors or the Corporate
Guarantor.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- If without the consent of the
Issuer a change occurs after the date of this Agreement in the
ultimate beneficial ownership of any shares in any Obligor or the
Corporate Guarantor or in the ultimate voting rights attaching to
any of those shares from that disclosed to the Issuer pursuant to
Schedule 2 Part A 10:+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(a)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-the Obligors shall promptly notify
the Issuer upon becoming aware of that event+ADs-
and+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(b)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-the Issuer shall not be obliged to
provide a Guarantee requested in a Guarantee Issue Request and the
Issuer may, by not more than 10 days+IBk- notice to the Obligors
cancel the Available Commitment and require the Obligors either to
procure the cancellation of any issued Guarantees or to provide
cash security in respect of such issued Guarantees on the same
terms mutatis mutandis as set out in Clause
5.6.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-3+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-REDUCTION OF
GUARANTEES+ADw-/span+AD4APA-/strong+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-3.1+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Reduction of Outstanding Guarantee
Amounts.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- The Outstanding Guarantee Amount
of a Guarantee shall not be treated as reduced for the purposes of
this Agreement unless and until:+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(a)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-the Issuer has received a written
confirmation from the Seller of the amount of such reduction+ADs-
or+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(b)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-the Issuer has notified the
relevant Obligor in writing that (notwithstanding the absence of a
written confirmation from the Seller) it is satisfied that its
liability under the Guarantee has been irrevocably reduced or
discharged+ADs- or+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4-+ADw-span
style+AD0-'font-size:10.0pt'+AD4-(c)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-the amount of the Guarantee
irrevocably and unconditionally reduces in accordance with its
terms+ADs- or+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(d)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-the expiry date of the Guarantee
elapses and the Issuer has notified the relevant Obligor in writing
that it is satisfied that no claim or demand has been made, or may
thereafter be made, under the Guarantee, such notification not to
be unreasonably withheld or delayed.+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-4+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-SETTLEMENT OF
GUARANTEES+ADw-/span+AD4APA-/strong+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-4.1+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Notification of Settlement
Amounts.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- The Issuer shall, immediately
after receiving a demand from, or after being notified by, the
Seller that it is required to make payment under a Guarantee,
notify the relevant Obligor that such payment is due and of the
Settlement Amount and the Settlement Date.+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4-+ADw-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-4.2+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Relevant Obligor+IBk-s settlement
obligation.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- The relevant Obligor shall:
+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(a)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-immediately after notification
from the Issuer under Clause 4.1, acknowledge to the Issuer that it
will reimburse the Settlement Amount+ADs- and
+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(b)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-pay to the Issuer the Settlement
Amount in Dollars on the Settlement Date.+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-4.3+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Relevant Obligor+IBk-s failure to
reimburse.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- If the relevant Obligor fails to
reimburse the Settlement Amount to the Issuer on the Settlement
Date pursuant to Clause 4.2, it shall pay to the Issuer interest on
the Settlement Amount from the Settlement Date to the date the
Issuer is reimbursed by the relevant Obligor at the rate described
in Clause 6 such interest to be compounded in accordance with
Clause 6.6 and payable on demand.+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-5+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-INDEMNITY OF THE
OBLIGORS+ADw-/span+AD4APA-/strong+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
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0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
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class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Obligors+IBk- undertaking to
indemnify.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- Each Obligor agrees that it
shall:+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(a)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
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0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-pay to the Issuer upon demand by
the Issuer an amount equal to each amount:+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
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cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
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style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(i)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
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style+AD0-'font-size:10.0pt'+AD4-demanded from the Issuer under a
Guarantee+ADs- or+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(ii)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-paid by the Issuer to the Seller
under Clause 5.8+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-and which is not otherwise fully
reimbursed, paid or repaid by the Obligors under this
Agreement+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p class+AD0-MsoNormal
style+AD0-'text-indent:-.5in'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(b)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-indemnify, as a principal and
independent debtor, the Issuer on demand against all actions,
claims, demands, liabilities, costs, losses, damages and expenses
incurred, suffered or sustained or any penalty or other expenditure
which may result or which the Issuer may incur, suffer or sustain
in connection with or arising out of or in relation to any
Guaranteed Obligations and/or the payment under or other
performance of a Guarantee (including without limitation any
correspondent bank charges).+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
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+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-5.2+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Guarantee
payments.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- Each
Obligor:+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(a)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-irrevocably authorises the Issuer
to make any payment demanded from it pursuant to a Guarantee if
that demand is made in accordance with its
terms+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(b)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-accepts that any demand for
payment made by the Seller pursuant to a Guarantee and which is
made in accordance with its terms shall be conclusive evidence that
the Issuer was liable to make payment under the Guarantee and any
payment which the Issuer makes pursuant to any such demand shall be
accepted by the Obligors as binding upon the Obligors+ADs-
and+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(c)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-acknowledges and agrees that the
Issuer shall not in any circumstances whatsoever be liable to the
Obligors in respect of any loss or damage suffered by the Obligors
by reason of the Issuer making a payment to the Seller in
connection with any payment demanded under a Guarantee.
+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-5.3+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Continuing
indemnities.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- The liabilities and obligations
of the Obligors under the indemnities set out in Clause 5.1 shall
remain in force as a continuing security
until:+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(a)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-the full, prompt and complete
performance of all the terms of such indemnities including the
proper and valid payment of all amounts that may become due to the
Issuer under this Clause 5.3+ADs- and+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(b)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-subject to Clause 5.4, an absolute
discharge or release of the Obligors signed by the
Issuer+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-and accordingly the Obligors shall
not have, as regards those indemnities, any of the rights or
defences of a surety.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal
style+AD0-'text-indent:-.5in'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-5.4+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4-+ADw-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Discharges.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- Any such discharge or release
referred to in Clause 5.3, and any composition or arrangement which
the Obligors may effect with the Issuer, shall be deemed to be made
subject to the condition that it will be void if any payment or
security which the Issuer, may previously have received or may
thereafter receive is set aside under any applicable law or proves
to have been for any reason invalid.
+ACY-nbsp+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-5.5+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
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0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-No
impairment.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- Without limiting the generality
of Clauses 5.3 and 5.4, the Obligors shall neither be discharged
from any of their liabilities or obligations under Clause 5.1 by,
nor have any claim against the Issuer in respect of:
+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(a)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-any misrepresentation or
non-disclosure respecting the affairs or condition of the Issuer
made to the Obligors by any person+ADs- or+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(b)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-the Seller and/or the Issuer
releasing or granting any time or any indulgence whatsoever or
making any settlement, composition or arrangement with the
Obligors, the Seller or any other person+ADs- or
+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(c)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-the Seller and/or the Issuer
asserting or pursuing, failing or neglecting to assert or pursue,
or delaying in asserting or pursuing, or waiving, any of their
rights or remedies against the Obligors, the Seller or any other
person+ADs- or+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(d)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-the Seller and/or the Issuer
and/or the Obligors, with the consent of the Obligors (or with or
without the consent of the Obligors in the case of any variation
agreed between the Seller and the Obligors or the person whose
obligations are guaranteed thereby), making, whether expressly or
by conduct, any variation to any Guaranteed Obligations or a
Guarantee+ADs- or+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(e)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-the Seller and/or the Issuer
and/or the Obligors: +ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(i)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-taking, accepting, varying,
dealing with, enforcing, abstaining from enforcing, surrendering or
releasing any security in relation to the Seller or the Issuer or
any Obligor or any other person in such manner as it or they think
fit+ADs- or +ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(ii)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-claiming, proving for, accepting
or transferring any payment in respect of the obligations and
liabilities of any Obligor and/or the Seller relative to any
Guaranteed Obligations or under this Agreement in any composition
by, or winding up of, any Obligor and/or any third party or
abstaining from so claiming, proving, accepting or
transferring+ADs- or+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(f)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-any assignment or transfer by the
Seller of, or any succession to, any of its rights relative to any
Guaranteed Obligations or a Guarantee.+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-5.6+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Provision of cash collateral
security.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- Forthwith upon, or at any time
following the occurrence of an Event of Default which is continuing
the Issuer shall be entitled (but not obliged) to demand payment by
the Obligors of, and the Obligors forthwith upon such demand shall
pay to the Issuer for credit to an account of the Obligors with the
Issuer (subject to such Security Interest as the Issuer may
reasonably specify or require), such amount as shall be the
aggregate of:+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal
style+AD0-'text-indent:-.5in'+AD4APA-o:p+AD4AJg-nbsp+ADsAPA-/o:p+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(i)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-any Settlement Amount then due
from the Obligors to the Issuer pursuant to Clause 4.2 and not
reimbursed+ADs- and+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(ii)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-the
Outstandings.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-5.7+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Application of cash collateral
security.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- Subject always to the overriding
provisions of Clause 15, moneys received by the Issuer pursuant to
Clause 5.6 shall be applied (as between the Obligors on the one
hand and the Issuer on the other) in the following
manner:+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(a)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-firstly, in or towards payment of
any Settlement Amount then due from the Obligors to the Issuer
pursuant to Clause 4.2 and not
reimbursed+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(b)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-secondly, in payment to the Issuer
for application from time to time by it (and the Obligors hereby
irrevocably authorise the Issuer so to apply any such moneys) in or
towards payment of, or reimbursement to the Issuer for, any amount
which the Issuer shall or may at any time and from time to time
thereafter pay or be or become liable to pay to the Seller under or
pursuant to or in connection with a Guarantee (including any amount
payable under Clause 5.8)+ADs- and+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(c)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-thirdly, in or towards payment of
all other sums which may be owing to the Issuer under or in
connection with a Guarantee.+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4-+ADw-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-5.8+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Negotiation with the
Seller.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- Each Obligor:
+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(a)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-irrevocably authorises the Issuer
to negotiate with the Seller at any time after the occurrence of
any Event of Default which is continuing with a view to arranging
for the prepayment by the Issuer, for the account of the Obligors
of any Guaranteed Obligations+ADs- and +ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(b)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-agrees that at any time after the
occurrence of any Event of Default which is continuing the Issuer
shall be entitled (but not, so far as the Obligors are concerned,
bound) to pay to the Seller, in such manner and upon such terms as
the Issuer and the Seller shall agree, any Guaranteed
Obligations.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-6+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-DEFAULT
INTEREST+ADw-/span+AD4APA-/strong+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-6.1+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Payment of default interest on
overdue amounts.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- The Obligors shall pay interest
in accordance with the following provisions of this Clause 6 on any
amount payable by the Obligors under any Finance Document which the
Issuer does not receive on or before the relevant date, that
is:+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(a)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-the date on which the Finance
Documents provide that such amount is due for payment+ADs-
or+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(b)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-if a Finance Document provides
that such amount is payable on demand, the date on which the demand
is served on the Obligors+ADs- or+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(c)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-if such amount has become
immediately due and payable under Clause 13.4, the date on which it
became immediately due and payable.+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-6.2+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Default rate of
interest.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- Interest shall accrue on an
overdue amount from (and including) the relevant date until the
date of actual payment (as well after as before judgment) at the
rate per annum determined by the Issuer to be 1.5 per cent. above,
the rate set out in Clause 6.3.+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-6.3+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Calculation of default rate of
interest.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- The rate referred to in Clause
6.2 is, in respect of successive periods of any duration (including
at call) up to 3 months which the Issuer may select from time to
time:+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(a)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-LIBOR+ADs-
or+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
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style+AD0-'font-size:10.0pt'+AD4-if the Issuer determines that
Dollar deposits for any such period are not being made available to
it by leading banks in the London Interbank Market in the ordinary
course of business, a rate from time to time determined by the
Issuer by reference to the cost of funds to it from such other
sources as the Issuer may from time to time
determine.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
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class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Notification of interest periods
and default rates.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size: 10.0pt'+AD4- The Issuer shall promptly notify
the Obligors of each interest rate determined by it under Clause
6.3 and of each period selected by it for the purposes of that
Clause+ADs- but this shall not be taken to imply that the Obligors
are liable to pay such interest only with effect from the date of
the Issuer+IBk-s notification.+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
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interest.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- Subject to the other provisions
of this Agreement, any interest due under this Clause shall be paid
on the last day of the period by reference to which it was
determined.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
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style+AD0-'font-size:10.0pt'+AD4-Compounding of default
interest.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- Any such interest which is not
paid at the end of the period by reference to which it was
determined shall thereupon be compounded.+ADw-/span+AD4APA-/p+AD4-
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PRECEDENT+ADw-/span+AD4APA-/strong+AD4APA-/p+AD4- +ADw-/div+AD4-
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border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
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style+AD0-'font-size:10.0pt'+AD4-Documents, fees and no
default.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- The Issuer+IBk-s obligation to
issue any Guarantee is subject to the following conditions
precedent: +ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
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cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
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style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
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0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-that, on or before the service of
the first Guarantee Issue Request, the Issuer receives the
documents described in Part A of Schedule 2 in form and substance
satisfactory to it+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
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border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
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style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
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style+AD0-'font-size:10.0pt'+AD4-that, on or before a Guarantee
Issue Date but prior to the issue of a Guarantee, the Issuer
receives the documents described in Part B of Schedule 2 in a form
satisfactory to it+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
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+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
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style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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style+AD0-'font-size:10.0pt'+AD4-that, on or before each Guarantee
Issue Date, the Issuer has received all arrangement and commitment
fees payable pursuant to Clause 18.1+ADs- +ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
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class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
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style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
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style+AD0-'font-size:10.0pt'+AD4-that both at the date of each
Guarantee Issue Request and at each Guarantee Issue
Date:+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
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cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
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style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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style+AD0-'font-size:10.0pt'+AD4-no Event of Default or Potential
Event of Default has occurred and is continuing or would result
from the issue of the Guarantee+ADs- and+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
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style+AD0-'font-size:10.0pt'+AD4-the representations and warranties
in Clause 8.1 and those of the Obligors or any Security Party which
are set out in the other Finance Documents would be true and not
misleading if repeated on each of those dates with reference to the
circumstances then existing+ADs- +ADw-/span+AD4APA-/p+AD4-
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style+AD0-'font-size:10.0pt'+AD4-that the Issuer has received, and
found to be acceptable to it, any further opinions, consents,
agreements and documents in connection with the Finance Documents
which the Issuer may reasonably request by notice to the Obligors
prior to the Guarantee Issue Date.+ADw-/span+AD4APA-/p+AD4-
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precedent.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- If the Issuer, at its discretion,
permits any Guarantee to be issued before certain of the conditions
referred to in Clause 7.1 are satisfied, the Obligor shall ensure
that those conditions are satisfied within 14 Business days after
the Guarantee Issue Date (or such longer period as the Issuer may
specify).+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
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class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
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style+AD0-'font-size:10.0pt'+AD4- Each Obligor represents and
warrants to the Issuer as follows.+ADw-/span+AD4APA-/p+AD4-
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style+AD0-'font-size:10.0pt'+AD4- It is duly incorporated and
validly existing and in good standing under the laws of the
Marshall Islands.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
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style+AD0-'font-size:10.0pt'+AD4-Share capital and
ownership.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- It has an authorised share
capital of 500 registered and/or bearer shares without par value,
all of which shares have been issued, and the legal title and
beneficial ownership of all those shares is held, free of any
Security Interest or other claim, by Westbrook Holdings
Limited.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
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style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
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style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
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style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
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class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Corporate
power.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- It has the corporate capacity,
and has taken all corporate action and obtained all consents
necessary for it:+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
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border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(a)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
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0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-to execute the Shipbuilding
Contract to which it is a party and to purchase and pay for its
Ship under that Shipbuilding Contract+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
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class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
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cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
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style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(b)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
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0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-to execute the Finance Documents
to which it is a party+ADs- and+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
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cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(c)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
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style+AD0-'font-size:10.0pt'+AD4-to make all the payments
contemplated by, and to comply with, those Finance
Documents.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
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style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
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style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
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0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Consents in
force.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- All the consents referred to in
Clause 8.4 remain in force and nothing to the best of the
Obligors+IBk- knowledge and belief has occurred which makes any of
them liable to revocation.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-8.6+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
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0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Legal validity+ADs- effective
Security Interests.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- The Finance Documents to which it
is a party, do now or, as the case may be, will, upon execution and
delivery (and, where applicable, registration as provided for in
the Finance Documents): +ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
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style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
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style+AD0-'text-align:right'+AD4APA-span
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style+AD0-'font-size:10.0pt'+AD4-constitute its legal, valid and
binding obligations enforceable against it in accordance with their
respective terms+ADs- and+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
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style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4-+ADw-span
style+AD0-'font-size:10.0pt'+AD4-(b)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
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0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-create legal, valid and binding
Security Interests enforceable in accordance with their respective
terms over all the assets to which they, by their terms,
relate+ADsAPA-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div style+AD0-'margin-left:.5in'+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-subject to any relevant insolvency
laws affecting creditors+IBk- rights generally and subject to any
qualifications as to matters of law which are specifically referred
to in any legal opinion delivered to the Issuer pursuant to
Schedule 2.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-div
style+AD0-'margin-left:.5in'+AD4- +ADw-p class+AD0-MsoNormal
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style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-8.7+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
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class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-No third party Security
Interests.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- Without limiting the generality
of Clause 8.6, at the time of the execution and delivery of each
Finance Document:+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(a)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-the relevant Obligor or Obligors
which are a party to that Finance Document will have the right to
create all the Security Interests which that Finance Document
purports to create+ADs- and+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(b)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-no third party will to the best of
the Obligors+IBk- knowledge and belief have any Security Interest
(except for Permitted Security Interests) or any other interest,
right or claim over, in or in relation to any asset to which a
Security Interest created by a Finance Document,
relates.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-8.8+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-No
conflicts.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- The execution by that Obligor of
each Finance Document to which it is a party and its compliance
with each Finance Document to which it is a party will not involve
or lead to a contravention of:+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(a)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-any law or regulation in force at
the date of this Agreement+ADs- or+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(b)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-the constitutional documents of
that Obligor+ADs- or+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACU-+ADs-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(c)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-any contractual or other
obligation or restriction which is binding on that Obligor or any
of its assets.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-8.9+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-No withholding
taxes.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- No tax is imposed in any
jurisdiction in which that Obligor is ordinarily resident for tax
by way of withholding or deduction or otherwise on any payment to
be made under this Agreement.+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-8.10+ACY-nbsp+ADsAJg-nbsp+ADs-+ADw-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-No
default.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- No Event of Default or Potential
Event of Default has occurred and is
continuing.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-8.11+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Information.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- All information which has been
provided in writing by or on behalf of the Obligors or any Security
Party to the Issuer in connection with any Finance Document was to
the best of the Obligors+IBk- knowledge and belief true and not
misleading as at the time it was given+ADs- all audited and
unaudited accounts which have been so provided satisfied the
requirements of Clause 9.6+ADs- and there has been no material
adverse change in the financial position or state of affairs of the
Obligors from that disclosed in the latest of those
accounts.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-8.12+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-No
litigation.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- No legal or administrative action
involving the Obligors has been commenced or taken or, to that
Obligor+IBk-s knowledge, is likely to be commenced or taken which,
in either case, would be likely to have a material adverse effect
on the Obligors+IBk- financial position or
profitability.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-8.13+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Validity and completeness of
Shipbuilding Contracts.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- Each Shipbuilding Contract
constitutes valid, binding and enforceable obligations of the
Seller and the relevant Obligor respectively in accordance with its
terms subject to any relevant insolvency laws affecting
creditors+IBk- rights generally and:+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(a)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-each copy of the Shipbuilding
Contracts delivered to the Issuer before the date of this Agreement
is a true and complete copy+ADs- and+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(b)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-no amendments or additions to the
Shipbuilding Contracts have been agreed nor has any Obligor or the
Seller waived any of their respective rights under the Shipbuilding
Contracts.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-8.14+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-No rebates
etc.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- There is no agreement or
understanding to allow or pay any rebate, premium, commission,
discount or other benefit or payment (howsoever described) to the
Obligors, the Seller or a third party in connection with the
purchase by the Obligors of the Ships, other than as disclosed to
the Issuer in writing on or prior to the date of this
Agreement.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-8.15+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
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0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Compliance with certain
undertakings.+ADw-/span+AD4APA-/strong+AD4-+ADw-span
style+AD0-'font-size:10.0pt'+AD4- At the date of this Agreement,
each Obligor is in compliance with Clause 9.12 and (save as
disclosed in writing to the Issuer) Clauses 9.3 and
9.8.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-8.16+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Taxes
paid.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- Each Obligor has paid all taxes
applicable to, or imposed on or in relation to it or its
business.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-8.17+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-Conformity of Financial Covenants.
+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-The financial covenants set out in
Schedule 3 conform to the financial covenants given by the
Corporate Guarantor and its subsidiaries under the Bank of America
Facilities.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-9+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-GENERAL UNDERTAKINGS AND FINANCIAL
COVENANTS+ADw-/span+AD4APA-/strong+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-9.1+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-General.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- Each Obligor undertakes with the
Issuer to comply with the following provisions of this Clause 9 at
all times during the Security Period, except as the Issuer may
otherwise permit.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-9.2+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-No disposal of
assets.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4AJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(a)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-No Obligor will transfer or
otherwise dispose of:+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4-
+ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable
border+AD0-0 cellspacing+AD0-0 cellpadding+AD0-0
width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(i)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-its rights under the Shipbuilding
Contract to which it is a party, whether by one transaction or a
number of transactions, whether related or not save where the
Guarantee relating thereto has been cancelled or where that Obligor
has provided cash security in relation to such Guarantee on the
same terms mutatis mutandis as set out in Clause 5.6+ADs-
or+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-96 valign+AD0-top
style+AD0-'width:1.0in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(ii)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-any debt payable to it or any
other right (present, future or contingent right) to receive a
payment, including any right to damages or
compensation.+ADw-/span+AD4APA-/p+AD4- +ADw-/div+AD4- +ADw-/td+AD4-
+ADw-/tr+AD4- +ADw-/table+AD4- +ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
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style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(b)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-No Obligor will create or permit
to arise any Security Interest (except for Permitted Security
Interests) over its rights under the Shipbuilding Contract and the
Refund Guarantees to which it is a party.+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
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style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-9.3+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/strong+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4APA-strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-No other liabilities or
obligations to be incurred.+ADw-/span+AD4APA-/strong+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4- No Obligor will incur any
liability or obligation except:+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
+ADw-td width+AD0-48 valign+AD0-top
style+AD0-'width:.5in+ADs-padding:0in 0in 0in 0in'+AD4- +ADw-p
class+AD0-MsoNormal align+AD0-right
style+AD0-'text-align:right'+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-(a)+ACY-nbsp+ADsAJg-nbsp+ADsAPA-/span+AD4APA-/p+AD4-
+ADw-/td+AD4- +ADw-td valign+AD0-top style+AD0-'padding:0in 0in 0in
0in'+AD4- +ADw-div+AD4- +ADw-p class+AD0-MsoNormal+AD4APA-span
style+AD0-'font-size:10.0pt'+AD4-liabilities and obligations under
the Shipbuilding Contract, the Finance Documents, the Loan
Agreement and the Finance Document (as defined in the Loan
Agreement) to which it is a party+ADs- and+ADw-/span+AD4APA-/p+AD4-
+ADw-/div+AD4- +ADw-/td+AD4- +ADw-/tr+AD4- +ADw-/table+AD4-
+ADw-/div+AD4- +ADw-div+AD4- +ADw-p
class+AD0-MsoNormal+AD4AJg-nbsp+ADsAPA-/p+AD4- +ADw-/div+AD4-
+ADw-div+AD4- +ADw-table class+AD0-MsoNormalTable border+AD0-0
cellspacing+AD0-0 cellpadding+AD0-0 width+AD0AIg-100+ACUAIg-
style+AD0-'width:100.0+ACUAOw-mso-cellspacing:0in+ADs-mso-padding-alt:0in
0in 0in 0in'+AD4- +ADw-tr
style+AD0-'mso-yfti-irow:0+ADs-mso-yfti-firstrow:yes+ADs-mso-yfti-lastrow:yes'+AD4-
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class+AD0-MsoNormal align+AD0-right
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