Zakon o ratifikaciji Garancijske pogodbe med Republiko Slovenijo in Evropsko investicijsko banko za projekt slovenskih avtocest/IV (MGPEIA4)

THIS AGREEMENT IS MADE BETWEEN:
    The Republic of Slovenia, acting through the Ministry of Finance, represented by Mr. Valter Reščič, State Secretary,
    hereinafter called: “THE GUARANTOR“
    of the first part, and
    European Investment Bank having its Head Office at 100, Boulevard Konrad Adenauer, Luxembourg-Kirchberg, Grand – Duchy of Luxembourg, represented by Mr. Konstantin J. Andreopoulos, Deputy General Counsel, and Mr. Walter Cernoia, Director,
    hereinafter called: “THE BANK“
    of the second part.
    WHEREAS:
    – The Council of the European Union, pursuant to Council Decision 97/256/EC of 14 April 1997, invited THE BANK to propose a substantial pre-accession support facility to the countries of Central and Eastern Europe which have applied to the European Union.
    – The Board of Governors of THE BANK has taken note of this decision and authorized on 26 January 1998 the granting of loans from its own resources to these countries.
    – Pursuant to the “Framework Agreement between the Republic of Slovenia and European Investment Bank governing EIB activities in Slovenia“ signed by the Republic of Slovenia on 1 December 1997 and by the Bank on 15 December 1997 (hereinafter referred to as the “Framework Agreement“), the government of the Republic of Slovenia has acknowledged that the financing under this Finance Contract falls within the scope of application of the Framework Agreement.
    – THE BANK has been requested to grant credit to Druzba za avtoceste v Republiki Sloveniji (DARS) d.d., a public joint-stock company fully owned by the Republic of Slovenia and incorporated under Slovene law (hereinafter called “THE BORROWER“) for the purpose of financing a project (hereinafter called “THE PROJECT“) comprising the construction of a 19.7 km long toll motorway section between Kozina and Srmin (giving access to the Adriatic port of Koper), a section being included in the priority corridors of the Trans-European Road Networks for Central and Eastern Europe, as more particularly described in the Technical Description set out in Schedule A of THE FINANCE CONTRACT defined below.
    – By an agreement (hereinafter called “THE FINANCE CONTRACT“) dated 30 November 1999 between THE BANK and THE BORROWER, THE BANK has agreed to establish in favour of THE BORROWER a credit in an amount equivalent to EUR 160 000 000 (one hundred and sixty million euro).
    – The obligations of THE BANK under THE FINANCE CONTRACT are conditional upon the prior or simultaneous execution and delivery by the Republic of Slovenia (hereinafter called “THE GUARANTOR“) of a guarantee of performance by THE BORROWER of its financial obligations under THE FINANCE CONTRACT and the delivery of a favorable legal opinion thereon.
    – THE GUARANTOR hereby acknowledges that the financing under THE FINANCE CONTRACT falls within the scope of the application of the Framework Agreement.
    – The Attorney-General of THE GUARANTOR will issue an opinion in the form satisfactory to THE BANK.
    – Mr. Valter Reščič is duly authorized in the form set out in Annex I to sign this agreement (hereinafter called “the Guarantee Agreement“) on behalf of THE GUARANTOR.
    – Execution of this Guarantee Agreement has been authorized by the Parliament of the Republic of Slovenia (Annex II).
    NOW THEREFORE it is hereby agreed as follows:

ARTICLE 1

Finance Contract

1.01 THE GUARANTOR declares that it is well acquainted with the terms, conditions and clauses of THE FINANCE CONTRACT, a true copy of which as signed by the parties, is delivered to THE GUARANTOR by THE BANK.

ARTICLE 2

Undertakings by THE GUARANTOR

2.01 THE GUARANTOR, as primary obligor and not merely as surety, guarantees entirely the full and punctual performance of all the monetary obligations of THE BORROWER to THE BANK under THE FINANCE CONTRACT, including all payments of interest without any limitation, commissions, incidental charges and other expenses and all the sums being due by THE BORROWER to THE BANK under any provision of THE FINANCE CONTRACT, when the guarantee is enforced.
    2.02 If THE GUARANTOR should hereafter grant to any third party security for the performance of any of its external debt obligations or any preference or priority in respect thereof, THE GUARANTOR shall so inform THE BANK and shall, if so required by THE BANK, provide to THE BANK equivalent security for the performance of its obligations hereunder or grant to THE BANK equivalent preference or priority. THE GUARANTOR represents that no such security, preference or priority presently exists.
     Nothing in this Article 2.02 shall apply to any vendor’s lien or to any charge which secures only the purchase price of any land or goods.
    2.03 THE GUARANTOR undertakes:
     a) to furnish information on legislation or regulatory framework affecting THE BORROWER which may have an impact on the implementation of THE PROJECT;
     and
     c) to ensure that THE BORROWER will undertake to purchase goods, procure services and order works for THE PROJECT, so far as appropriate and to the satisfaction of THE BANK, by international tender open on equal terms to nationals of all countries.

ARTICLE 3

Enforcement of guarantee

3.01 Demand may be made under this Agreement as soon as THE BORROWER has not performed all or part of the obligations guaranteed pursuant to Article 2 of this Agreement.
    3.02 THE GUARANTOR hereby waives irrevocably any objection or exception in law to the total or partial enforcement of this guarantee. It undertakes to perform its obligations upon request in writing or by telegram by THE BANK whenever demand is made and to pay the sums due without any limitation, retention or condition, without THE BANK having to furnish any special evidence in support of its request other than the reason for the demand under this guarantee. In particular, THE BANK is not bound to prove that it has taken any action against THE BORROWER; it is not obliged, prior to the enforcement of this guarantee, to realize securities or to enforce any other security that THE BORROWER or a third party may have constituted.
    3.03 The payment by THE GUARANTOR shall fall due on the fifteenth day following that on which demand is made.
    3.04 In the event of THE BANK making demand, THE GUARANTOR shall have the right to discharge immediately, under the conditions set out in THE FINANCE CONTRACT, all the monetary obligations of THE BORROWER under THE FINANCE CONTRACT which are still outstanding at the time of such discharge.

ARTICLE 4

Subrogation

4.01 When THE GUARANTOR has made a payment to THE BANK, it is subrogated, to the extent of such payment, to the rights and actions relating to the said payment that THE BANK has against THE BORROWER; this right of subrogation shall not be invoked to the detriment of THE BANK.

ARTICLE 5

Information

5.01 THE BANK shall inform THE GUARANTOR of any fact or event of which it becomes aware which is likely to jeopardize the payment or repayment by THE BORROWER of the sums hereby guaranteed: provided however that THE BANK is not bound to seek any such information and shall incur no liability by reason of this provision.
    5.02 THE GUARANTOR shall inform THE BANK forthwith of any fact or event likely to jeopardize the performance of its obligations under this Agreement.
    5.03 THE GUARANTOR shall inform THE BANK of any security given to a third party for the purpose of Article 2.02.
    5.04 THE GUARANTOR shall notify THE BANK of the completion of the procedures necessary in the Republic of Slovenia to the entry into force of the Guarantee Agreement.

ARTICLE 6

Modification of the FINANCE CONTRACT

6.01 THE BANK shall inform THE GUARANTOR of changes, which do not increase the obligations of THE GUARANTOR, made to the FINANCE CONTRACT by THE BANK for the purpose of improving or strengthening the position of THE BANK towards THE BORROWER.
     THE BANK shall have the right to grant to THE BORROWER extensions of time of up to three months in respect of each repayment of principal or payment of interest and any other incidental expenses as it sees fit, without being bound to submit its decision to THE GUARANTOR.
     Any modifications in THE FINANCE CONTRACT other than those referred to in the above paragraphs of this Article 6 shall be submitted for approval to THE GUARANTOR. The latter may refuse its approval only if the proposed modifications are likely to be prejudicial to it in its capacity as guarantor.

ARTICLE 7

Taxes, Charges and Expenses

7.01 Taxes or fiscal charges, legal costs and other expenses incurred in the execution or implementation of this Guarantee Agreement shall be borne by THE GUARANTOR. THE GUARANTOR shall make payments hereunder without withholding or deduction on account of tax or fiscal charges.

ARTICLE 8

Legal regime of the Agreement

8.01 Applicable Law
     The legal relations between the parties to this Agreement, its formation and validity shall be governed by the laws of the Grand Duchy of Luxembourg.
    8.02 Performance
     The place of performance of this Agreement is the head office of THE BANK.
    8.03 Jurisdiction
     The parties hereto submit to the exclusive jurisdiction of the Court of Justice of the European Communities and all disputes concerning the Guarantee Agreement shall be submitted to such court.
     The decision of the Court of Justice of the European Communities shall be conclusive and shall be accepted as such by the parties without restriction or reservation.
    8.04 Waiver
     The parties hereto agree that this Guarantee Agreement is of a commercial nature and hereby undertake to waive any immunities which they may now or hereafter enjoy in any country from the jurisdiction of the Court of Justice of the European Communities.
    8.05 Evidence of Sums due
     In any legal action arising out of this Guarantee Agreement the certificate of THE BANK as to any amount due to THE BANK under this Guarantee Agreement shall be prima facie evidence of such amount.
    8.06 Entry into force
     This Agreement shall enter into force upon the completion of the procedures necessary to this effect in the Republic of Slovenia and the notification thereof in accordance with Paragraph 5.04 of this Agreement.

ARTICLE 9

Final Clauses

9.01 Notices
     Notices and other communications given hereunder shall be sent to the respective address set out below except that notices to THE GUARANTOR relating to litigation whether pending or threatened shall be sent to the address mentioned under 2) below where THE GUARANTOR elects domicile:

– FOR THE GUARANTOR: 1) Ministry of Finance
                     Zupanciceva, 3
                     1502 Ljubljana
                     Slovenia
                     2) Embassy of the Republic of Slovenia
                     179, Avenue Louise
                     B – 1050 Bruxelles
– FOR THE BANK:      100 Boulevard Konrad Adenauer
                     L-2950 Luxembourg-Kirchberg.

Each party may, by notice to the other, change its addresses as set out above, provided that the address in 2) above may only be changed to another address within the European Community.
    9.02 Form of Notice
     Notices and other communications, for which fixed periods are laid down in this Contract or which themselves fix periods binding on the addressee, shall be served by hand delivery, registered letter, telegram, telex, confirmed fax or any other means of transmission which affords evidence of receipt by the addressee. The date of registration or, as the case may be, the stated date of receipt of transmission shall be conclusive for the determination of a period.
    9.03 Recitals, Schedule and Annexes
     The Recitals forms part of this Guarantee Agreement.
    The following Annexes are attached hereto:
    Annex I – Authority of Signatory
    Annex II – The Law on Guarantee
    IN WITNESS WHEREOF the parties hereto have caused this Agreement to be executed in three originals in the English language.
    This Guarantee Agreement has been initialed on behalf of THE GUARANTOR by Mr. Andrej Kavčič, advisor to the Government and on behalf of THE BANK by Mr. Eric Gällstad, Counsel.
     Ljubljana, 24th December 1999 Luxembourg, 14th December 1999