syndicated term finance agreement nov 24

8/11/2019 Syndicated Term Finance Agreement Nov 24

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SYNDICATED TERM FINANCE AGREEMENT

BY AND BETWEEN

THE CUSTOMERTHE CITY SCHOOLS (PRIVATE) LIMITED

THE SYNDICATE

[][][]

THE AGENT

HABIB BANK LIMITED

THE SECURITY TRUSTEE

HABIB BANK LIMITED

In respect ofPKR 1,!!,!!!,!!! S"n#$c%te# Ter& '$n%nce '%c$($t"

to p%rt$%((" )n%nce t*e constr+ct$on of te(-e ne sc*oo(s $n -%r$o+s c$t$es of P%.$st%n


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T%/(e of Contents

ARTIC0E 1 INTERPRETATION1SECTION11 DE'INITIONS 1SECTION12 'INANCIA0DE'INITIONSANDCA0CU0ATIONS12SECTION13 CONSTRUCTION14SECTION14 HEADINGS1SECTION1 5USINESSDAYAD6USTMENT1

ARTIC0E 2 SA0E AND PURCHASE O' ASSETS1SECTION21 PURCHASEANDSA0E1SECTION22 SYNDICATENOTRESPONSI50E'ORTHEASSETS1

ARTIC0E 3 SA0E PRICE17SECTION32 CONTRACTORPAYMENTS17SECTION33 DIS5URSEMENTTOTHECUSTOMER17SECTION34 DIS5URSEMENTSCHEDU0E17SECTION3 DIS5URSEMENTS17

ARTIC0E 4 DRA8DO8N O' SA0E PRICE19SECTION41 ISSUANCEO'DRA8DO8NNOTICE19SECTION42 DRA8DO8NAMOUNT19SECTION43 ISSUANCEO'RECEIPTSUPONDIS5URSEMENTO'DRA8DO8NAMOUNT19SECTION44 DETAI0SO'DRA8DO8N19

ARTIC0E PURCHASE PRICE19SECTION1 PAYMENTO'PURCHASEPRICE 19SECTION2 COSTO''UNDS'ORPURCHASEPRICE19

SECTION3 5REAKDO8NO'THEPURCHASEPRICE1:SECTION4 DISTRI5UTIONO'PURCHASEPRICE1:SECTION PROMPTPAYMENT5ONUS1:SECTION7 ;ARIATIONO'SCHEDU0ES1:SECTION< PREPAYMENTO'PURCHASEPRICE2!

ARTIC0E 7 SECURITY2!SECTION71 CREATIONO'SECURITY2!

ARTIC0E < PAYMENTS21SECTIONO''4:

ARTIC0E 13 AGENT4:SECTION131 AGENTNOTAGENT,TRUSTEEOR'IDUCIARY'ORTHECUSTOMER 4:SECTION132 AGENT?SSTATEMENTCONC0USI;E4:

ARTIC0E 14 MISCE00ANEOUS4:SECTION141 DETERMINATIONSAD;ERSE0YA''ECTINGTHISAGREEMENT 4:SECTION142 GO;ERNING0A8AND6URISDICTION !SECTION143 TERMINATIONO'THECUSTOMER?SO50IGATIONS!

SECTION144 NOTICES!SECTION14 INDEMNITY1SECTION147 IN'ORMATIONCONCERNINGTHECUSTOMER1


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SECTION14< ATTORNEY1SECTION149 5ENE'ITO'AGREEMENT 1SECTION14: REMEDIESAND8AI;ERS2SECTION141! ENTIREAGREEMENT2SECTION1411 AMENDMENTS2SECTION1412 'URTHERDOCUMENTS2SECTION1413 NO;ATION 2

SCHEDU0E 1 SHARE IN SA0E PRICE AND PURCHASE PRICE4

SCHEDU0E 2 CONTRACTOR DRA8DO8N NOTICE

SCHEDU0E 3 CUSTOMER DRA8DO8N NOTICE7

SCHEDU0E 4 DIS5URSEMENT SCHEDU0E(Variation of Schedule)+

1.1.13 +$se R$te Settng D$temeans, (a) in case of the fi&st Base -ate 6ettin$ Date, theB%siness Day immediate"y &ecedin$ the fi&st D&a'do'n Date+ and (!) fo& a""s%!se4%ent Base -ate 6ettin$ Dates, the B%siness Day immediate"y &ecedin$ a%&chase &ice ayment Date+

1.1.17 +O7means Bi""s of %antities+

1.1.1> +usness D$&means a day on 'hich the A$ent is oen fo& !anin$ !%siness ina&achi+

1.1.1? C$m2us means and inc"%des the cam%s of ity 6choo"!ein$ const&%cted andesta!"ished !y the %stome& on the &oe&ties "isted inA&tic"e 1@(List of Campuses)+

1.1.1@ C$m2us Cm2/etn S4e'u/emeans the com"etion sched%"e in &esect of eacham%s attached he&e'ith asA&tic"e 1>(Campus Completion Schedule) &ea&ed !ythe %stome& and a&o*ed !y the 6yndicate and the Technica" Ad*iso& confi&min$ thedetai"ed sched%"e of the &o5ect Wo&s and the :i"estones in &esect of each am%s+

1.1.1 C4$rtermeans the constit%ent doc%ments of a e&son inc"%din$ !%t not &est&icted toa :emo&and%m of A&tic"es of Association+

1.1.20 C//etnshas the meanin$ asc&i!ed the&eto in the o""ection A$&eement+

1.1.21 C//etn Auntshas the meanin$ asc&i!ed the&eto in the o""ection A$&eement+

-3- Syndicated Term FinanceAgreement

The City Schools (Private)Limited


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1.1.22 C//etn Agreementmeans a$&eement tit"ed o""ection A$&eementdated on o&a!o%t the date he&eof+

1.1.2= C//etn +$n8smeans a!i! Ban /imited and :B Ban /imited+

1.1.23 Cmmtment Fee means the commitment fee aya!"e !y the %stome& to the

6yndicate at the &ate of 0.27 and ca"c%"ated in acco&dance 'ith the &o*isions of6ection ?.1 (Fees)+

1.1.27 Cn'tns Pree'ent means the conditions &ecedent set o%t in A&tic"e (Conditions Precedent)+

1.1.2> Cn'tn Pree'ent Duments means the doc%ments de"i*e&ed to the A$ent%&s%ant to the &o*isions of A&tic"e (Conditions Precedent) and "isted inA&tic"e 17(Conditions Precedent Documents)+

1.1.2? Cnsu/t$nts C4$rgesmeans a"" amo%nts aya!"e !y the %stome& to the &o5ectons%"tants, inc"%din$ !%t not &est&icted to the amo%nts &efe&&ed to in A&tic"e (Conditions Precedent)+

1.1.2@ Cntngent L$%/t&means any a$&eement, %nde&tain$ o& a&&an$ement !y 'hichany e&son $%a&antees, enfo&ces o& othe&'ise !ecomes o& is contin$ent"y "ia!"e %on(!y di&ect o& indi&ect a$&eement, contin$ent o& othe&'ise, to &o*ide f%nds fo& ayment,to s%"y f%nds to, o& othe&'ise to in*est in, a de!to&, o& othe&'ise to ass%&e a c&edito&a$ainst "oss) the 9inancia" nde!tedness, o!"i$ation o& any othe& "ia!i"ity of any othe&e&son (othe& than !y endo&sements of inst&%ments in the co%&se of co""ection), o&$%a&antees the ayment of di*idends o& othe& dist&i!%tions %on the sha&es of anyothe& e&son. The amo%nt of any e&sons o!"i$ation %nde& any ontin$ent /ia!i"itysha"" (s%!5ect to any "imitation set fo&th the&ein) !e deemed to !e the o%tstandin$&incia" amo%nt (o& ma#im%m &incia" amo%nt, if "a&$e&) of the de!t, o!"i$ation o&othe& "ia!i"ity $%a&anteed the&e!y+

1.1.2 Cntr$tr Dr$3'3n Ntemeans the notice s%!stantia""y in the fo&m set o%t inA&tic"e = (Contractor Drawdown Notice)+

1.1.=0 Custmer Dr$3'3n Ntemeans the notice s%!stantia""y in the fo&m set o%t inA&tic"e 3 (Customer Drawdown Notice)+

1.1.=1 Cr2r$te Aut4r5$tnmeans, in &esect of any a&tic%"a& matte& &e4%i&in$ s%cha%tho&iation, a &eso"%tion d%"y assed in acco&dance 'ith the &o*isions of theomanies 8&dinance, 1@3+ &o*ided ho'e*e&, in &esect of a 9inance a&ty, ao&o&ate A%tho&iation sha"" inc"%de a d%"y e#ec%ted o'e& of Atto&ney+

1.1.=2 Cust'$n Lettermeans the "ette& iss%ed !y the !an C financia" instit%tion ho"din$the o&i$ina" &oe&ty Doc%ments, confi&min$ that that the !an C financia" instit%tion

sha"" ho"d the &oe&ty Doc%ments fo& and on !eha"f of the 6ec%&ity T&%stee+

1.1.== Custmers Auntmeans the %stome&s Acco%nt maintained 'ith the A$ent,!ea&in$ acco%nt n%m!e& [] maintained at [], !ein$ the acco%nt 'he&ein the 6a"e&ice 'i"" !e dis!%&sed !y the 6yndicate and the %&chase &ice nsta""ments 'i"" !edeosited !y the %stome& fo& ayment to each :em!e&+

1.1.=3 De%t P$&ment Aunt has the meanin$ asc&i!ed the&eto in the o""ectionA$&eement+

1.1.=7 Ds%ursement S4e'u/e means the sched%"e "istin$ the D&a'do'n Dates andattached he&e'ith asA&tic"e 7 (Disbursement Schedule)+




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1.1.=> Ds%ursement D$te means the dis!%&sement dates set o%t in the Dis!%&sement6ched%"e+

1.1.=? Ds%ursement Per'means a e&iod of fo%& conti$%o%s months+ and

%B in the case of the fi&st Dis!%&sement e&iod+ the e&iod commencin$ on the fi&st

Dis!%&sement Date as set o%t in the Dis!%&sement 6ched%"e and endin$ on the dateco&&esondin$ to the fi&st Dis!%&sement Date in the fo%&th month+ and

/B fo& each s%!se4%ent Dis!%&sement e&iod, the e&iod commencin$ on the

B%siness Day immediate"y fo""o'in$ the "ast day of the immediate"y &ecedin$Dis!%&sement e&iod and endin$ on the date co&&esondin$ to s%ch day in the fo%&thmonth f&om the commencement of s%ch Dis!%&sement e&iod+

1.1.=@ Dr$3'3nmeans the dis!%&sement of the D&a'do'n Amo%nt o& any o&tion the&eof!y the 6yndicate to the %stome& on a D&a'do'n Date+

1.1.= Dr$3'3n Amunt has the meanin$ asc&i!ed the&eto in s%!;section 3.1.2 of6ection 3.1 (Drawdown)+

1.1.30 Dr$3'3n D$temeans the date on 'hich a D&a'do'n is made to the %stome&he&e%nde&+

1.1.31 Dr$3'3n Nte means the ont&acto& D&a'do'n Notice and the %stome&D&a'do'n Notice+

1.1.32 Due D$temeans each s%ch date on 'hich any amo%nt is d%e and aya!"e !y the%stome& in te&ms of this A$&eement and C o& any T&ansaction Doc%ment, !ein$ eithe&a sched%"ed date of ayment o& a date on 'hich a ayment is d%e as a conse4%enceof a demand ha*in$ !een made in te&ms of this A$&eement and C o& a T&ansactionDoc%ment, and inc"%des each %&chase &ice ayment Date and each date on 'hichthe amo%nts a&e aya!"e !y the %stome& %&s%ant to A&tic"e ? (Payments)+

1.1.3= Enum%ere' Pr2ert&has the same meanin$ as asc&i!ed the&eto in the /ette& of/ien+

1.1.33 E9ut& means a cont&i!%tion, in cash o& in ind to the sha&e caita" of %stome&a$ainst s%!sc&ition fo& f%""y aid sha&es in the sha&e caita" %stome& o& an ad*anceto'a&ds a s%!o&dinated "oan e#tended to the %stome& !y the 6onso&s fo& the%&ose of meetin$ the nc&ementa" &o5ect osts in acco&dance 'ith the te&ms of the6onso& 6%o&t A$&eement+

1.1.37 E9ut& Cntr%utnmeans a"" cont&i!%tions !y the 6onso&s, 'hethe& in cash o& inind to'a&ds the E4%ity, inc"%din$ the fo""o'in$ E9ut& Cntr%utn Auntmeans the acco%nt of the %stome& maintained 'iththe A$ent !ea&in$ acco%nt No. [] maintained at [], 'he&ein the cash &oceeds ofthe E4%ity ont&i!%tion sha"" !e deosited !y the 6onso&s, inc"%din$ the f%ndscont&i!%ted !y the 6onso&s as the 9%nded omonent of the nitia" E4%ityont&i!%tion+

1.1.3? E6ent De$u/tmeans any of the e*ents o& ci&c%mstances desc&i!ed inA&tic"e 12(Events of Default)+

1.1.3@ F$/t&has the meanin$ asc&i!ed the&eto in the -ecita"s+

1.1.3 F$/t& Eet6e D$temeans a date fa""in$ no "ate& than thi&ty (=0) days f&om thedate of e#ec%tion of the T&ansaction Doc%ments !ein$ the date !y 'hich the onditions&ecedent a&e &e4%i&ed to !e f%"fi""ed+

1.1.70 Fn$/ Dr$3'3n D$temeans the ea&"ie& to occ%& of< (a) the date on 'hich the enti&e6a"e &ice has !een dis!%&sed+ o& (!) date co&&esondin$ to the 9aci"ity Effecti*e Datein the ei$hteenth (1@th) month f&om the occ%&&ence of the 9aci"ity Effecti*e Date+

1.1.71 Fn$ne P$rtes means the 6yndicate, A$ent, the 6ec%&ity T&%stee and theo""ection Ban+

1.1.72 Fn$n$/ In'e%te'nessmeans any o!"i$ation, 'hethe& &esent o& f%t%&e, act%a" o&contin$ent, to ay o& de"i*e& any monies %nde& o& in &esect of any financia"

accommodation, faci"ity o& a&&an$ement $&anted to the %stome& inc"%din$, 'itho%t"imitation, in &esect of any of the fo""o'in$ Orgn$/ Fn$n$/ St$tementsmeans the %n4%a"ified a%dited financia" statementsof the %stome& fo& each financia" yea&+

1.1.?0 Persn means any fi&m, comany, co&o&ation, $o*e&nment, state o& a$ency o& astate, &e$%"ato&y !ody, any association o& a&tne&shi ('hethe& o& not ha*in$ sea&ate"e$a" e&sona"ity) o& any indi*id%a", o& any com!ination of t'o o& mo&e of the fo&e$oin$+

1.1.?1 Persn$/ Gu$r$nteesmeans the $%a&antee tit"ed the e&sona" F%a&anteedatedon o& a!o%t the date he&eof, e#ec%ted !y the 6onso&s in fa*o%& of the 6ec%&ityT&%stee, $%a&anteein$ the &eayment o!"i$ations of the %stome& to the 6yndicate%nde& the T&ansaction Doc%ments+

1.1.?2 P,Ro& Ru2eesmeans the "a'f%" c%&&ency of aistan+

1.1.?= Ptent$/ E6ent De$u/tmeans any e*ent o& ci&c%mstance 'hich, !y the $i*in$ of

notice o& "ase of time is "ie"y to !ecome an E*ent of Defa%"t, dete&mined in theoinion of the 6yndicate+

1.1.?3 Pre;Estm$te' Pr:et Cst means an a$$&e$ate amo%nt of -[]2,0>7,000,000 (a -%ees []T'o Bi""ion 6i#ty 9i*e :i""ion on"y) !ein$ theestimated cost of the &o5ect as secified in the 9inancia" :ode" and !ein$ f%ndedth&o%$h the &oceeds of the 9aci"ity and the nitia" E4%ity ont&i!%tion+

1.1.?7 Prn2$/ Dumentsmeans co""ecti*e"y Pr:etmeans the const&%ction and esta!"ishment of the am%ses+

1.1.?? Pr:et Cm2/etnmeans that the iss%ance of the fina" com"etion ce&tificate !ythe Technica" Ad*iso& in &esect of the enti&e &o5ect confi&min$ that each am%s hasachie*ed am%s om"etion and can !e safe"y and &e"ia!"y !e %sed fo& the %&osefo& 'hich the same has !een const&%cted+

1.1.?@ Pr:et Cnsu/t$nts means the Technica" Ad*iso&, !ein$ the thi&d a&ty andindeendent cons%"tant aointed !y the 6yndicate f&om time to time fo& the %&ose of

o*e&seein$ the &o5ect+

1.1.? Pr:et Dumentsmeans("epayment Schedule), as &e*ised f&om time totime+

1.1.@? Pru'ent$/ Regu/$tns means the &e$%"ations iss%ed !y 6B f&om time to time,$o*e&nin$ the &%dent "endin$ &actices of the !ans and financia" instit%tions inaistan+

1.1.@@ Pur4$se Premeans an amo%nt of - [] (a -%ees [] 8n"y) at 'hich the%stome& has !o%$ht !ac the Assets f&om the 6yndicate, !ein$ the amo%nt 'hich the%stome& sha"" ay to the 6yndicate in acco&dance 'ith the te&ms and conditions ofthis A$&eement !y 'ay of %&chase &ice+

1.1.@ Pur4$se Pre Inst$//mentsmeans the insta""ments of the %&chase &ice aya!"e!y the %stome& on each %&chase &ice ayment Date in acco&dance 'ith A&tic"e >("epayment Schedule)+

1.1.0 Pur4$se Pre P$&ment D$temeans the dates fo& ayment of the %&chase &icensta""ments "isted inA&tic"e > ("epayment Schedule)+

1.1.1 Re2$&ment S4e'u/e means the 6ched%"e attached he&e'ith as A&tic"e >("epayment Schedule)+

1.1.2 S$/e Premeans an amo%nt of - 1,700,000,000 (a -%ees 8ne Bi""ion 9i*e%nd&ed :i""ion on"y) !ein$ the &ice at 'hich the 6yndicate has %&chased the Assets,

!ein$ the amo%nt of finances 'hich the 6yndicate has a$&eed to &o*ide to the%stome& and to !e dis!%&sed in the fo&m of the D&a'do'n Amo%nt+

1.1.= S+P means the 6tate Ban of aistan, esta!"ished %nde& the 6tate Ban ofaistan Act, 17>+

1.1.3 SECP means the 6ec%&ities and E#chan$e ommission of aistan, constit%ted%nde& the 6ec%&ities and E#chan$e ommission of aistan Act, 1?+

1.1.7 Seure' Assetsmeans co""ecti*e"y V$r$tn S4e'u/es

7.>.1 Hon the occ%&&ence of any of the e*ents "isted !e"o', the a&ties sha"" a$&ee to modifythe 6ched%"es in acco&dance 'ith s%!;section 7.>.= of this 6ection 7.> (Variation ofSchedules).2of this 6ection 7.>andthe a&ties a$&eein$ %on the &e"acement of the Base -ate (Variation of Schedules)+

eB the Base -ate e#ceeds [please insert the rate on which the "epayment Schedule will be calculated]

fB 'he&e it is necessa&y fo& any othe& &eason 'hatsoe*e& to modify the6ched%"es+

(the e*ents "isted at (a) to (e) a!o*e a&e he&einafte& &efe&&ed to as S4e'u/e V$r$tnE6ents)

7.>.2 n the e*ent at any time, 'hi"e the %&chase &ice o& any a&t the&eof is o%tstandin$ inte&ms he&eof P$&ment n Custmers Aunt

?.>.1 A"" amo%nts aya!"e !y the %stome& %&s%ant to this A&tic"e ? (Payments) sha"" !edeosited in the %stome&s Acco%nt fo& on'a&d ayment !y the A$ent to the &e"e*ant9inance a&ty to 'hom s%ch amo%nt is aya!"e.

?.>.2 The %stome& sha"" notify the A$ent immediate"y %on deositin$ the amo%nts aya!"e%&s%ant to thisA&tic"e ?(Payments) in the %stome&s Acco%nt and in the e*ent s%chamo%nt is !ein$ aid to$ethe& 'ith a %&chase &ice nsta""ment than the %stome&sha"" notify the A$ent of the amo%nt that com&ises the amo%nts aya!"e %&s%ant tothisA&tic"e ?(Payments).

Setn ?.? N De'utns

?.?.1 A"" amo%nts to !e aid !y the %stome& %nde& this A$&eement 'i"" !e aid 'itho%t anyset;off o& co%nte&c"aim and f&ee and c"ea& of, and 'itho%t any ded%ction o& 'ithho"din$fo& o& on acco%nt of, any Ta#es, d%ties, costs o& e#enses othe& than co&o&ate incomeTa# as &o*ided in this 6ection ?.?(No Deduction).

?.?.2 n the e*ent, any 9inance a&ty is &e4%i&ed to ay any s%ch Ta#es, d%ties, costs o&e#enses the %stome& sha"" &eim!%&se 'ithin th&ee (=) B%siness Days of &ecei*in$ ademand f&om the A$ent the a$$&e$ate amo%nt so aid inc"%din$ any additiona" Ta# o&ena"ty "e*ied on acco%nt of o& o'in$ to any defa%"t of the %stome&.

?.?.= n the e*ent, the %stome& is &e4%i&ed !y "a' to ded%ct o& 'ithho"d any Ta# on !eha"f of

any 9inance a&ty (othe& than Ta# on the co&o&ate income of the :em!e&s in &esect'he&eof the %stome& 'i"" &o*ide coies of cha""ans to the A$ent fo& the !enefit of the6yndicate) and s%ch Ta# is ded%cted o& 'ithhe"d !y the %stome& f&om any amo%ntsaid o& aya!"e %nde& this A$&eement, the %stome& sha"" ay s%ch additiona" amo%ntsto the 9inance a&ties as may !e necessa&y to ens%&e that the 9inance a&ties &ecei*ea net amo%nt, e4%a" to the f%"" amo%nt 'hich s%ch 9inance a&ty 'o%"d ha*e &ecei*edhad ayment not !een made s%!5ect to Ta#.

ARTICLE @ THE SYNDICATE

Setn @.1 Cntr%utn t4e S$/e Pre

@.1.1 The 6a"e &ice sha"" !e cont&i!%ted !y each :em!e& in acco&dance 'ith the amo%nt

stated a$ainst each &esecti*e :em!e&s name in o"%mn of A&tic"e 2 (Share inSale Price and Purchase Price) he&eto.

Setn @.! Rg4ts $n' O%/g$tns Se6er$/

@.2.1 The &i$hts and o!"i$ations of each :em!e& of the 6yndicate %nde& this A$&eement a&ese*e&a" and di*ided and no :em!e& is &esonsi!"e fo& e&fo&min$ the o!"i$ations of anyothe& :em!e&, inc"%din$ !%t not &est&icted to the dis!%&sement !y any :em!e& of the%ndis!%&sed o&tion of the 6a"e &ice of any othe& :em!e&.

Setn @.* Agreement t 's%urse




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@.=.1 6%!5ect to the te&ms and conditions of this A$&eement, each of the :em!e&s se*e&a""ya$&ees to dis!%&se its sha&e of the 6a"e &ice % to !%t not e#ceedin$ its commitmentset o%t in o"%mn of 6ched%"e 1 %on the &eceit of a D&a'do'n Notice f&om the%stome&. Hn"ess othe&'ise a$&eed !et'een the a&ties, the&e 'i"" !e no o!"i$ation onthe a&t of the 6yndicate to dis!%&se the 6a"e &ice afte& the 9ina" D&a'do'n Date.

ARTICLE CONDITIONS PRECEDENT

Setn .1 Cn'tns Pree'ent r De/6er& Dr$3'3n Nte

.1.1 The %stome& may not de"i*e& a D&a'do'n Notice %n"ess the fo""o'in$ onditions&ecedent ha*e !een f%"fi""ed, to the enti&e satisfaction of the 6yndicate (Set*+ff), the 9inancea&ties a$&ee that they sha"" not e#e&cise thei& &i$hts %&s%ant to this 6ection 12.> (Set*+ff) that &es%"ts in an E*ent of Defa%"t.

ARTICLE 1* AGENT

Setn 1*.1 Agent nt $gent0 trustee r 'u$r& r t4e Custmer

1=.1.1 t is he&e!y acno'"ed$ed and a$&eed !y the %stome& that the A$ent is not in anymanne& 'hatsoe*e& an a$ent, t&%stee o& fid%cia&y fo& the %stome&. The %stome& isnot entit"ed to en4%i&e a!o%t the e#istence o& e#tent of any inst&%ctions f&om the:em!e&s of the 6yndicate to the A$ent. As !et'een the %stome& and the 6yndicate,a"" actions taen !y the A$ent conce&nin$ this A$&eement a&e taen to !e a%tho&ied !ythe 6yndicate. t is he&e!y acno'"ed$ed and a$&eed !y the A$ent and each of the:em!e&s that the A$ent !ein$ the A$ent of each of the :em!e&s, the %stome& isentit"ed to t&eat a"" and any ayments of money to the A$ent as the ayments to each ofthe :em!e&s in &oo&tion to each :em!e&s o%tstandin$ amo%nt.

Setn 1*.! Agents St$tement Cn/us6e




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1=.2.1 A statement, si$ned on !eha"f of the A$ent !y any of its A%tho&ied -e&esentati*es, asto any matte& %nde& this A$&eement o& any amo%nt d%e (inc"%din$, 'itho%t "imitation,amo%nts o'in$ !y the %stome&) at the date secified in the statement is conc"%si*ea$ainst a"" othe& a&ties to this A$&eement sa*e and e#cet fo& any manifest e&&o&.

1=.2.2 A statement, si$ned on !eha"f of the A$ent !y any of its A%tho&ied -e&esentati*es, as

to a dete&mination of the 6yndicate in &esect of any matte& 'hich !y this A$&eement&e4%i&es the conc%&&ence of the 6yndicate :a5o&ity sha"" !e conc"%si*e as a$ainst the%stome&.

ARTICLE 1- MISCELLANEO"S

Setn 1-.1 Determn$tns $'6erse/& $etng t4s Agreement

13.1.1 D%&in$ the c%&&ency of this A$&eement in case this A$&eement o& any &o*ision he&eofis.= Each :em!e& of the 6yndicate may disc"ose to and C o& e#chan$e 'ith the othe&:em!e&s of the 6yndicate and the A$ent, any info&mation &e"atin$ to the !%siness,financia" condition, stat%s o& affai&s of the %stome& 'hich comes into its ossession.

Setn 1-.? Attrne&

13.?.1 Each atto&ney o& A%tho&ied -e&esentati*e 'ho e#ec%tes this A$&eement on !eha"f ofa a&ty dec"a&es that the atto&ney has no notice of the &e*ocation o& s%sension !y the$&anto& o& in any manne& of the o'e& of atto&ney o& the &e4%isite A%tho&iation %nde&the a%tho&ity of 'hich the atto&ney o& the A%tho&ied -e&esentati*e e#ec%tes thisA$&eement.

Setn 1-.@ +enet Agreement

[email protected] This A$&eement sha"" !e !indin$ %on and in%&e to the !enefit of each a&ty he&eto andits o& any s%!se4%ent s%ccesso&s.

[email protected] The %stome& sha"" not !e entit"ed to assi$n o& t&ansfe& a"" o& any of its &i$hts, !enefits

and o!"i$ations he&e%nde&.

13.@.= The 6yndicate o& any of the :em!e&s may, f&om time to time, assi$n a"" o& any of thei&&i$hts, !enefits and o!"i$ations he&e%nde&. The %stome& sha"" e#ec%te and si$n a""s%ch doc%ments 'hich may !e &easona!"y &e4%i&ed and sha"" co;oe&ate in a"" matte&s&e"ated to s%ch assi$nment and o& t&ansfe&. A"" costs inc%&&ed in s%ch assi$nment and Co& t&ansfe& 'i"" !e !o&ne !y the &esecti*e mem!e&s assi$nin$ s%ch &i$hts ando!"i$ations %nde& this 6ection 13.@.

[email protected] The 6yndicate o& any of the :em!e&s may disc"ose to any act%a" o& otentia" assi$neeo& to any e&son 'ho may ente& into cont&act%a" &e"ations 'ith the 6yndicate o& any ofthe :em!e&s in &e"ation to this A$&eement s%ch info&mation a!o%t the %stome& as the6yndicate o& any of the :em!e&s sha"" conside& a&o&iate.

Setn 1-. Reme'es $n' $6ers

13..1 No fai"%&e to e#e&cise, no& any de"ay in e#e&cisin$, on the a&t of the 6yndicate o& anyof the :em!e&s o& A$ent, any &i$ht o& &emedy he&e%nde& sha"" oe&ate as a 'ai*e&the&eof, no& sha"" any sin$"e o& a&tia" e#e&cise of any &i$ht o& &emedy &e*ent anyf%&the& o& othe& e#e&cise the&eof o& the e#e&cise of any othe& &i$ht o& &emedy. The &i$htsand &emedies he&ein &o*ided a&e c%m%"ati*e and not e#c"%si*e of any &i$hts o&&emedies &o*ided !y "a'.

13..2 The %stome& he&e!y confi&ms that the 6yndicate o& any of the :em!e&s o& the A$ent,o& any em"oyee, di&ecto& o& nominee of the 6yndicate o& the A$ent, sha"" not !e "ia!"eo& ha*e any "ia!i"ity fo& any secia", indi&ect, conse4%entia" o& %niti*e dama$es (othe&

than the ones &es%"tin$ f&om $&oss ne$"i$ence C 'i""f%" miscond%ct) inc%&&ed !y the%stome&.

Setn 1-.1B Entre Agreement

13.10.1 This A$&eement &e&esents the enti&e a$&eement and %nde&standin$ !et'een a&ties in&e"ation to the s%!5ect matte& he&eof and s%e&sedes a"" &e*io%s a$&eements andCo&%nde&standin$s !et'een the a&ties in &e"ation the&eto.

Setn 1-.11 Amen'ments

13.11.1 No amendment, modification o& 'ai*e& in &esect of this A$&eement 'i"" !e effecti*e%n"ess in '&itin$ (and '&itin$ sha"" inc"%de a facsimi"e t&ansmission) and e#ec%ted !y




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each of the a&ties o& confi&med !y an e#chan$e of te"e#es o& e"ect&onic messa$es onan e"ect&onic messa$in$ system.

Setn 1-.1! Furt4er Duments

13.12.1 The a&ties a$&ee to e#ec%te and de"i*e& a"" s%ch othe& and additiona" inst&%ments and

doc%ments and to do s%ch othe& acts and thin$s as may !e necessa&y to mo&e f%""yeffect%ate this A$&eement, to $i*e effect to the t&%e intent of the a&ties and fo& the%&oses of e&fectin$ any sec%&ity $i*en o& he"d fo& the %&oses he&eof.

Setn 1-.1* N6$tn

13.1=.1 Witho%t &e5%dice to the &i$hts of each of the :em!e&s %nde& this A$&eement, at anytime and f&om time to time, the :em!e&s o& any one of them ( N6$tng P$rt&) mayidentify one o& mo&e !ans o& financia" instit%tions (Inmng +$n8) 'ho 'i"" ac4%i&eeithe& in f%"" o& a&ts, &i$hts and !enefits of the No*atin$ a&ty and ass%me o!"i$ationsof the No*atin$ a&ty %nde& this A$&eement (N6$tn). The No*atin$ a&ty, the%stome&, the ncomin$ Ban and the A$ent 'i"" si$n no*ation a$&eement in the fo&mand s%!stance attached as Art/e (Form of Novation %!reement) (N6$tn

Agreement) and %on e#ec%tion of the No*ation A$&eement, the ncomin$ Ban 'i""ac4%i&e the same &i$hts and !enefits, andCo& ass%me the same o!"i$ations (as the casemay !e) as the No*atin$ a&ty.

13.1=.2 onse4%ent %on No*ation of the &i$hts o!"i$ations and !enefits, the !enefits of a""&i$hts and &emedies %nde& the 6ec%&ity Doc%ments, to the e#tent and in &oo&tion ofNo*ation of &i$hts, !enefits and C o& o!"i$ations of this A$&eement sha"" stand assi$nedto the ncomin$ Ban 'itho%t &e4%i&in$ any modification to this A$&eement o& the6ec%&ity Doc%ments, 'hich !enefit sha"" !e he"d and enfo&cea!"e !y the ncomin$Ban. Witho%t &e5%dice to the afo&esaid, the %stome& sha"" e#ec%te s%ch doc%ments Cs%"ementa"s to modify the 6ec%&ity Doc%ments as may !e &e4%i&ed to &ef"ect s%chno*ation and fi"e 9o&m 1> 'ith the -e$ist&a& of omanies at the 6ec%&ities andE#chan$e ommission of aistan to &eco&d s%ch modification.

13.1=.= Hon No*ation, the &i$hts, !enefits and C o& o!"i$ations %nde& this A$&eement 'i"" !e&e*ised and notified to the %stome& !y the No*atin$ a&ty, 'hich 'i"" s%!stit%te the&e"e*ant sched%"es of this A$&eement and 'i"" !e !indin$ on the %stome& and theNo*atin$ a&ty, sa*e fo& any manifest e&&o&.

13.1=.3 The 6yndicate may disc"ose to any act%a" o& otentia" assi$nee o& to any e&son 'homay ente& into cont&act%a" &e"ations 'ith the 6yndicate in &e"ation to this A$&eement('ith the &io& consent of the %stome&) s%ch info&mation a!o%t the %stome& as may!e &e4%i&ed !y the 6yndicate.

[eFec+t$on p%e to /e $nserte# pr$or to eFec+t$on]

-- Syndicated Term FinanceAgreement



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Art/e !S4$re n S$/e Pre $n' Pur4$se Pre

S No N%&e of Me&/er S*%re $n S%(e Pr$cePKRB

S*%re $n P+rc*%se Pr$cePKRB

1 H%/$/ 5%n. 0$&$te# !!,!!!,!!!

2 MC5 5%n. 0$&$te# !!,!!!,!!!

3 P%. O&%n In-est&ent Co&p%n"0$&$te#

2!!,!!!,!!!

Total

-!- Syndicated Term FinanceAgreement



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Art/e *Cntr$tr Dr$3'3n Nte

[On t*e (etter*e%# of t*e C+sto&er]

'ro& THE CITY SCHOOL (PRIVATE) LIMITED t*e Custo!"B

To HABIB BANK LIMITED $n $ts c%p%c$t" %s t*e AentB

D%te# []

Re D"a#$o#% Not&'! Issu!$ Pu"sua%t to S!'t&o% * o+ t,! S-%$&'at!$T!" F&%a%'! A."!!!%t +o" D&s/u"s!!%t to [insert name oContractor0 Co%t"a'to"B

De%r S$r,

1 8e refer to t*e S"n#$c%te# Ter& '$n%nce Aree&ent #%te# [], 2!11 F&%a%'! A."!!!%tB/eteen, inter alia, o+rse(-es %s C+sto&er, "o+rse(f $n t*e c%p%c$t" of t*e Aent %n# t*eS"n#$c%te %n# t*e Sec+r$t" Tr+stee %s e%c* ter& $s #e)ne# $n t*e '$n%nce Aree&entB

2 Ter&s +se# $n t*$s Dr%#on Not$ce s*%(( *%-e t*e s%&e &e%n$n %s %scr$/e# t*ereto $n t*e'$n%nce Aree&ent

3 T*e C+sto&er $rre-oc%/(" re+ests t*e #$s/+rse&ent of %n %&o+nt of PKR [] P%. R+pees[] On("B D&s/u"s!!%tB $n %ccor#%nce $t* t*e pro-$s$ons of Sect$on 41

4 T*e D$s/+rse&ent $s to /e &%#e %s fo((os

% P+rpose []

/ N%&e of Contr%ctor []

c Acco+nt n+&/er of Contr%ctor []

T*$s Dr%#on Not$ce $s #+(" s+pporte# /"

% $n-o$ces $ss+e# /" t*e Contr%ctorJ

/ #oc+&ent%r" e-$#ence of proecte# Proect Costs re(%t$n to t*e D$s/+rse&entJ

c t*e cert$)c%te $ss+e# /" t*e [A+#$tor] con)r&$n t*%t t*e D$s/+rse&ent $s re+$re# fort*e Proect %n# for &eet$n t*e Pre>Est$&%te# Proect Costs

7 8e cert$f" t*%t

% t*e D$s/+rse&ent const$t+tes % #$s/+rse&ent of t*e S%(e Pr$ce to t*e C+sto&er $n%ccor#%nce $t* t*e pro-$s$ons of t*e Aree&entJ

/ no p%rt of t*e D$s/+rse&ent s*%(( /e %pp($e# ot*er$se t*%n %s &ent$one# $np%r%r%p* 4 %/o-e %n# t*%t t*e Proect Costs $n respect of *$c* s+c* D$s/+rse&ent

%re to /e +t$($se# %re #+e %n# p%"%/(e, or proecte# to /eco&e #+e %n# p%"%/(e $t*$n:! #%"s of t*e Dr%#on D%te set o+t $n t*$s Dr%#on Not$ceJ

c %s %t t*e #%te *ereof, t*e represent%t$ons %n# %rr%nt$es set o+t $n t*e '$n%nceAree&ent %re tr+e %n# correctJ %n#

# no E-ent of Def%+(t or Potent$%( E-ent of Def%+(t *%s occ+rre# %n# or $s cont$n+$n or$(( occ+r %s % conse+ence of t*e Contr%ctor Dr%#on

Yo+rs f%$t*f+((",

Fo" a%$ o% /!,al+ o+T,! C&t- S',ools (P"&1at!) L&&t!$

Co2- to3

-"- Syndicated Term FinanceAgreement



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Octo/er 29, 2!11

4Insert name of Technical Advisor0

-#- Syndicated Term FinanceAgreement



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Art/e -Custmer Dr$3'3n Nte

[On t*e (etter*e%# of t*e C+sto&er]

'ro& THE CITY SCHOOL (PRIVATE) LIMITED t*e Custo!"B

To HABIB BANK LIMITED $n $ts c%p%c$t" %s t*e AentB

D%te# []

Re D"a#$o#% Not&'! Issu!$ Pu"sua%t to S!'t&o% * o+ t,! S-%$&'at!$T!" F&%a%'! A."!!!%t +o" Custo!" D"a#$o#%

De%r S$r,

1 8e refer to t*e S"n#$c%te# Ter& '$n%nce Aree&ent #%te# [], 2!11 F&%a%'! A."!!!%tB/eteen, inter alia, o+rse(-es %s C+sto&er, "o+rse(f $n t*e c%p%c$t" of t*e Aent %n# t*eS"n#$c%te %n# t*e Sec+r$t" Tr+stee %s e%c* ter& $s #e)ne# $n t*e '$n%nce Aree&entB

2 Ter&s +se# $n t*$s Dr%#on Not$ce s*%(( *%-e t*e s%&e &e%n$n %s %scr$/e# t*ereto $n t*e'$n%nce Aree&ent

3 T*e C+sto&er $rre-oc%/(" re+ests t*e #$s/+rse&ent of %n %&o+nt of PKR [] P%. R+pees[] On("B $n t*e %cco+nt /e%r$n n+&/er [] &%$nt%$ne# $t* t*e [] /r%nc* of t*e AentD&s/u"s!!%tB $n %ccor#%nce $t* t*e pro-$s$ons of Sect$on 41

4 T*e D$s/+rse&ent $s re+$re# for

% P+rpose []

T*$s Dr%#on Not$ce $s #+(" s+pporte# /"

% $n-o$ces $ss+e# /" t*e Contr%ctorJ

/ #oc+&ent%r" e-$#ence of proecte# Proect Costs re(%t$n to t*e D$s/+rse&entJ

c t*e cert$)c%te $ss+e# /" t*e [A+#$tor] con)r&$n t*%t t*e D$s/+rse&ent $s re+$re# fort*e Proect %n# for &eet$n t*e Pre>Est$&%te# Proect Costs

7 8e cert$f" t*%t

% no p%rt of t*e D$s/+rse&ent s*%(( /e %pp($e# ot*er$se t*%n %s &ent$one# $np%r%r%p* 4 %/o-eJ

/ %s %t t*e #%te *ereof, t*e represent%t$ons %n# %rr%nt$es set o+t $n t*e '%c$($t"Aree&ent %re tr+e %n# correctJ %n#

c no E-ent of Def%+(t or Potent$%( E-ent of Def%+(t *%s occ+rre# %n# or $s cont$n+$n or$(( occ+r %s % conse+ence of t*e Dr%#on

Yo+rs f%$t*f+((",

Fo" a%$ o% /!,al+ o+T,! C&t- S',ools (P"&1at!) L&&t!$

Co2- to34Insert name of Technical Advisor0

-$- Syndicated Term FinanceAgreement



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Art/e =Ds%ursement S4e'u/e

S No T!%tat&1! D"a#$o#%Dat!

TotalAou%t o+D"a#$o#%

D"a#$o#%Aou%t o+ !a',

M!/!"

Pu"2os! Natu"! o+ D"a#$o#%

[to /e ($n.e# to t*e Proect M$(estones]

-!%- Syndicated Term FinanceAgreement



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Art/e >Re2$&ment S4e'u/e

Pa"t A

SNo Pu"',as!P"&'!

Pa-!%tDat!

I%stall!%tAou%t

No o+ Da-s Sal! P"&'!Co2o%!%t

Aou%t o+Pu"',as!

P"&'!Outsta%$&%.

Aou%t o+Sal! P"&'!

Outsta%$&%.

Part B

C%(c+(%t$on of Pro&pt P%"&ent 5on+s

Pro&pt P%"&ent 5on+s L D$erence /eteen 1B %n# 2B /e(o

1B A&o+nt of Inst%((&ent %s $-en $n Co(+&n IIIB #+e on t*e respect$-eP+rc*%se Pr$ce P%"&ent D%te $-en $n Co(+&n IIB

2B PFRFN37BB S%(e Pr$ce Co&ponent %s $-en $n Co(+&n ;

8*ere

P L A&o+nt &ent$one# $n Co(+&n ;II %s s*on %%$nst t*e P+rc*%se

Pr$ce P%"&ent D%te $&&e#$%te(" prece#$n t*e P+rc*%se Pr$ceP%"&ent D%te on *$c* t*e %&o+nt of Pro&pt P%"&ent 5on+s $s to/e c%(c+(%te#

R L App($c%/(e R%te

N L N+&/er of #%"s &ent$one# $n Co(+&n I; %%$nst t*e P+rc*%se Pr$ceP%"&ent D%te on *$c* t*e %&o+nt of Pro&pt P%"&ent 5on+s $s/e$n c%(c+(%te#

-!1- Syndicated Term FinanceAgreement



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Art/e ?Lst Pr:et Duments

4To /! 2"o1&$!$0




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Art/e @Nte Det$/s

Sn P%rt" Attent$on A##ress Te(ep*one '%F

1

2

3

4




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ARTICLE Frm N6$tn Agreement

NOVATION AGREEMENT

THIS NOVATION AGREEMENT is made at [] on this [] day of [], [].

!y and !et'een

1. THE CITY SCHOOLS (PRIVATE) LIMITED, a &i*ate "imited comany inco&o&ated%nde& the "a's of the s"amic -e%!"ic of aistan and ha*in$ its &e$iste&ed office at[] (he&einafte& &efe&&ed to as the Custmer)+

!. [], a !anin$ comany inco&o&ated %nde& the "a's of the s"amic -e%!"ic ofaistan and ha*in$ its &e$iste&ed office at [] (he&einafte& &efe&&ed to as theOutgng Mem%er)+

*. [], a !anin$ comany inco&o&ated %nde& the "a's of [] and ha*in$ its &e$iste&ed

office at [] (he&einafte& &efe&&ed to as Inmng +$n8)+ and

-. [], a !anin$ comany inco&o&ated %nde& the "a's of the s"amic -e%!"ic ofaistan and ha*in$ its &e$iste&ed office at [] (he&einafte& &efe&&ed to as theAgent).

(the %stome&, the 8%t$oin$ :em!e&, the ncomin$ Ban and the A$ent a&e he&einafte&co""ecti*e"y &efe&&ed to as the P$rtes)

HEREAS#

$. At the &e4%est of the %stome&, the 6yndicate has e#tended a syndicated te&m financefaci"ity to the %stome& fo& an a$$&e$ate amo%nt of - 1,700,000,000 (a -%ees

8ne Bi""ion 9i*e %nd&ed :i""ion on"y) (F$/t&) on the te&ms and s%!5ect to theconditions of the 6yndicated Te&m 9inance A$&eement dated [] ente&ed into !et'eenthe %stome&, the 6yndicate, the A$ent and the 6ec%&ity T&%stee (Fn$neAgreement).

%. As e&mitted %nde& the te&ms of the 9inance A$&eement, the 8%t$oin$ :em!e& isdesi&o%s of t&ansfe&&in$ !y 'ay of no*ation its &i$hts and o!"i$ations in &esect of s%cho&tion of the 9aci"ity as set o%t he&ein.

. The ncomin$ Ban has a$&eed that the ncomin$ Ban sha"" ass%me the o!"i$ationsand ac4%i&e the &i$hts and !enefits of the 8%t$oin$ :em!e& e#istin$ %nde& the 9inanceA$&eement to the e#tent a$&eed %nde& this No*ation A$&eement.

NO0 THEREFORE, in conside&ation of the m%t%a" co*enants contained he&ein, this No*ation

A$&eement 'itnesseth and it is he&e!y a$&eed !y and !et'een the a&ties as %nde&C$m2us Cm2/etn S4e'u/e

[to /e prep%re# /" t*e Tec*n$c%( A#-$sor]]

-"2- Syndicated Term FinanceAgreement



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Art/e 1?Cr2r$te Det$/s S4e'u/e

1 As on t*e '%c$($t" Eect$-e D%te

%B t*e %+t*or$se# s*%re c%p$t%( of t*e C+sto&er $(( /e PKR []J

/B t*e $ss+e# %n# p%$# +p s*%re c%p$t%( of t*e C+sto&er $(( /e PKR [] #$-$#e# $nto []S*%res of PKR [] e%c*J

2 As on t*e '%c$($t" Eect$-e, t*e s*%re*o(#$n of t*e Sponsor $n t*e C+sto&ers $s %s fo((os

%B [] of t*e $ss+e# S*%res of t*e Co&p%n" o+t of % tot%( of []

/B [] of t*e $ss+e# S*%res of t*e Co&p%n" o+t of % tot%( of []

cB [] of t*e $ss+e# S*%res of t*e Co&p%n" o+t of % tot%( of []

#B [] of t*e $ss+e# S*%res of t*e Co&p%n" o+t of % tot%( of []

3 Upon t*e co&p(et$on of t*e In$t$%( E+$t" Contr$/+t$on, t*e s*%re*o(#$n of t*e Sponsors $n t*eC+sto&er s*%(( /e %s fo((os

%B [] of t*e $ss+e# S*%res of t*e Co&p%n" o+t of % tot%( of []

/B [] of t*e $ss+e# S*%res of t*e Co&p%n" o+t of % tot%( of []cB [] of t*e $ss+e# S*%res of t*e Co&p%n" o+t of % tot%( of []

#B [] of t*e $ss+e# S*%res of t*e Co&p%n" o+t of % tot%( of []

4 A(( of t*e $ss+e# S*%res %re f+((" p%$# +p, %n# s+c* S*%res %re non>%ssess%/(e %n# $ss+e# %t not(ess t*%n p%r -%(+e

No G+%r%ntor, s*%re*o(#er of t*e Co&p%n" or ot*er t*$r# p%rt" *%s % r$*t to re+$re t*eCo&p%n" to $ss+e %##$t$on%( S*%res ot*er t*%n %n" s+c* r$*t of t*e S*%re*o(#ers so(e(" %s %res+(t of t*e &%.$n of %n E+$t" Contr$/+t$on

7 T*e Co&p%n" *%s not p%$# %n" %&o+nt to or on /e*%(f of %n" person $n respect of t*e%c+$s$t$on or tr%nsfer of %n" S*%res


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Art/e 1@Lst C$m2uses

1

-"4- Syndicated Term FinanceAgreement



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Art/e 1Pr:et M/estnes

[($st to /e prep%re# /" t*e Tec*n$c%( A#-$sor]]

-"- Syndicated Term FinanceAgreement



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Octo/er 29, 2!11

Art/e !BCP Cnrm$tn Letter

[on t*e (etter *e%# of t*e Aent]

D%te

4Na! a%$ A$$"!ss o+ Ea', M!/!"0

De%r S$r,

Co%$&t&o%s P"!'!$!%t Co%6"at&o% L!tt!"

T*$s Con#$t$ons Prece#ent Con)r&%t$on 0etter $s /e$n $ss+e# p+rs+%nt to Sect$on9 of t*e S"n#$c%te# Ter& '$n%nce Aree&ent #%te# [] A."!!!%tB entere#$nto /eteen t*e C$t" Sc*oo(s Pr$-%teB 0$&$te# Custo!"B , [], [], [] %n#

[] S-%$&'at!B %n# [] A.!%tB

T*$s $s to con)r& t*%t

1 [e *%-e rece$-e# con)r&%t$on fro& t*e S"n#$c%te t*%t e%c* of t*eCon#$t$ons Prece#ent set o+t $n Sect$on :1 *%-e /een f+()((e# /" t*eC+sto&er to t*e ent$re s%t$sf%ct$on of t*e S"n#$c%teJ]

OR

[e *%-e rece$-e# con)r&%t$on fro& t*e S"n#$c%te t*%t e%c* of t*eCon#$t$ons Prece#ent set o+t $n Sect$on :1 *%-e /een f+()((e# /" t*eC+sto&er to t*e ent$re s%t$sf%ct$on of t*e S"n#$c%te, eFcept for t*e

Con#$t$ons Prece#ent set o+t $n s+/>sect$ons :11 [], [] %n# [], e%c* of*$c* *%-e /een %$-e# /" t*e S"n#$c%teJ]


OR

[e *%-e rece$-e# con)r&%t$on fro& t*e S"n#$c%te t*%t e%c* of t*eCon#$t$ons Prece#ent set o+t $n Sect$on :2 *%-e /een f+()((e# /" t*eC+sto&er to t*e ent$re s%t$sf%ct$on of t*e S"n#$c%te, eFcept for t*eCon#$t$ons Prece#ent set o+t $n s+/>sect$ons :21 [], [] %n# [], e%c* of

*$c* *%-e /een %$-e# /" t*e S"n#$c%teJ]


OR

[e *%-e rece$-e# con)r&%t$on fro& t*e S"n#$c%te t*%t e%c* of t*eCon#$t$ons Prece#ent set o+t $n Sect$on :1 *%-e /een f+()((e# /" t*eC+sto&er to t*e ent$re s%t$sf%ct$on of t*e S"n#$c%te, eFcept for t*eCon#$t$ons Prece#ent set o+t $n s+/>sect$ons :31 [], [] %n# [], e%c* of*$c* *%-e /een %$-e# /" t*e S"n#$c%teJ]

-"!- Syndicated Term FinanceAgreement



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Octo/er 29, 2!11

4 5%se# +pon t*e %/o-e con)r&%t$on fro& t*e S"n#$c%te of [s%t$sf%ct$on oft*e Con#$t$ons Prece#ent /" t*e C+sto&er][s%t$sf%ct$on of t*e Con#$t$onsPrece#ent /" t*e C+sto&er, co+p(e# $t* t*e %$-er of t*e re&%$n$nCon#$t$ons Prece#ent /" t*e S"n#$c%t$on] e con)r& t*%t t*e %pp($c%/(eCon#$t$ons Prece#ent *%-e /een #+(" s%t$s)e# /" t*e C+sto&er %n# or

%$-e# /" t*e S"n#$c%te %s per t*e re+$re&ents of t*e Aree&ent

Yo+r f%$t*f+((",

'or %n# on /e*%(f of[Agent]

Cop" to

C&t- S',ools (P"&1at!) L&&t!$

-""- Syndicated Term FinanceAgreement



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