1. The subject of the contract is to grant a long-term loan in the amount of PLN 3,990,000.00 (in words: three million nine hundred ninety thousand zlotys) to finance the planned deficit.
2. 1. The subject of the contract is to grant a long-term loan in the amount of PLN 3,990,000.00 (in words: three million nine hundred and ninety thousand zlotys) to finance the planned deficit.
2. Detailed terms of the contract, including the quality standards referred to in Article 246(2) of the PPL:
a) Repayment of the capital will take place in monthly installments in the amounts and dates specified in accordance with the schedule constituting Annex 3 to the SWZ.
b) The Ordering Party reserves the right, without incurring additional costs, to repay part or all of the loan early.
In this case, the Contractor will not charge fees and commissions.
c.d. in section II.2.4)
c) In the event of early repayment of part or all of the loan, the Contractor and the Contracting Authority shall establish a new repayment schedule in accordance with the Ordering Party's request in the form of an annex to the contract, without charging additional fees.
d) The Contractor undertakes to pay the credit/tranche of the loan within no more than 2 business days from the date of submission of the instruction by the Contracting entity.
e) The loan will be released on the basis of a written instruction to be submitted to the Contractor. It is allowed to submit an instruction by fax or electronically, to the fax number or e-mail address indicated in the contract.
f) The Ordering Party sets the final date of launching the loan by 20.10.2023.
g) The loan will be paid to the account of the Ordering Party kept in the bank selected for banking services of the municipal budget.
h) Interest will be repaid only on the amount of the loan actually disbursed.
i) Capitalisation of interest is not permitted.
j) Variable interest rate on the loan, based on the WIBOR 1M rate, which is the arithmetic average of all days of the month preceding the settlement period, increased by the Contractor's margin, fixed during the term of the contract. The arithmetic average of the WIBOR 1M rate should be calculated as the sum of WIBOR 1M rates quoted in the month preceding the settlement period, and if the WIBOR 1M rate has not been quoted on a given day, the WIBOR 1M rate from the day preceding the day on which the last rate quotation was conducted, divided by the number of days of the month, rounded to two decimal places, applies.
k) If the WIBOR 1M rate referred to in point 4.2 letter j reaches a level below 0 (zero), the parties to the contract agree that a rate equal to 0 (zero) will be used to calculate the interest rate on the loan to achieve a positive value by this rate.
l) The amount of the Contractor's margin remains unchanged throughout the loan period.
m) The Contractor shall inform the contracting authority about the amount of interest to be repaid on the loan in writing, specifying the variable WIBOR rate of 1M by the 5th day of the next month after the month for which the interest was calculated.
(n) The calculation of interest shall be based on the actual number of calendar days in each month and the year being 365 days.
o) Interest is calculated on the loan amount disbursed from the date of disbursement of the loan / tranche of the loan until the day preceding its actual repayment (repayment of the installment) inclusive.
p) Interest payable monthly by the 10th day of the following month after the month for which the interest was accrued. The last interest installment will be repaid on the date of full repayment of the loan.
q) In the event that the loan/interest repayment date expires on a public holiday or not a business day for the Purchaser, the repayment date shall be deemed to have been met if the repayment took place on the first business day following that day. It should be taken into account that this is the maximum date and it is possible to repay the loan installment early, which does not require each change of the Repayment Schedule.
r) The date of repayment of interest and principal installments shall be the date of receipt of funds on the Contractor's bank account.
s) The costs resulting from servicing the loan shall be covered by the Ordering Party only up to the amount of interest on the loan activated. All other activities performed in servicing the loan by the Contractor, including, m.in. launching and placing the loan at the disposal of the Ordering Party, opening and maintaining a bank account of the loan, transferring funds under the loan / tranche of the loan, issuing bank opinions regarding the performance of the credit obligations by the Ordering Party are free of charge for the Ordering Party.