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There are prepayment penalties associated with IFC loans. As to the lender
Veto, the Veto should only apply to the banks covered by their umbrella and should not be applicable to the relationship to other MLA's or uncovered lenders. For instance if OPIC is lending $50MM, FMO $10MM, and the B banks $40MM, the voting rights should be 50% for OPIC and 50% FMO (since FMO is the lender of record for the B banks). Unanimous consent items would then require both OPIC and FMO to consent. Peter N Anderson@ENRON_DEVELOPMENT 02/14/2001 10:45 AM To: Rob G Gay/NA/Enron@Enron cc: Subject: IFC Precedents Rob- I told Richard that I had no experience with IFC. Suggested that you may have. Regards ---------------------- Forwarded by Peter N Anderson/ENRON_DEVELOPMENT on 02/14/2001 10:44 AM --------------------------- Richard Quek@ECT 02/14/2001 10:34 AM To: Peter N Anderson/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Subject: IFC Precedents Peter, As you might know, we are in the midst of discussions with a group of lenders on the Bulacan project in the Philippines. The lender of record if the FMO (Netherlands Development Finance Corporation) and the structure is modelled on the IFC "A" and "B" loan structure. As the "A" loan lender, FMO is saying that they want veto rights over all decisions that are to be taken by the lenders. Do you know if the IFC has such veto rights in their facilities - will greatly appreciate your feedback on this asap. In addition, does the IFC impose prepayment penalties? Regards, Richard
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