The subject of the contract is to grant a long-term loan in the amount of PLN 9,000,000.00 (in words: nine million zlotys 00/100) to finance the planned budget deficit.
4.1. The subject of the contract is to grant a long-term loan in the amount of PLN 9,000,000.00 (in words: nine million zlotys 00/100) to finance the planned budget deficit.
4.2. Detailed terms of the contract, including quality standards referred to in Article 246(2) of the PPL Act:
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:
1) launching an incomplete loan amount, but the minimum amount of the loan will be not less than PLN 4,000,000.00,
2) early repayment of part or all of the loan.
In such cases, the Contractor shall not charge fees and commissions.
c) In the event of activation of the incomplete amount of the loan, early repayment of part or all of the loan, the Contractor and the Ordering Party shall set 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 date, number and amount of tranches of the loan start-up will be determined by the Ordering Party according to its current needs, except that the Ordering Party shall submit an instruction to activate the minimum loan amount by 22.12.2022 at the latest.
e) The Contractor undertakes to pay the loan / loan tranche within no more than 2 working days from the date of submission of the instruction by the Ordering Party.
f) The loan will be activated on the basis of a written instruction that will 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.
g) The Ordering Party sets the deadline for starting the loan by 30.12.2022.
h) The loan will be paid to the Ordering Party's account kept in the bank selected to provide banking services to the district budget.
i) Interest will be repaid only on the amount of the loan actually mobilised (disbursed).
(j) Capitalisation of interest is unacceptable.
k) Variable interest rate on the loan, based on the WIBOR 1M rate, which is the arithmetic average from 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 the WIBOR 1M rates recorded in the month preceding the settlement period, and if no WIBOR 1M rate quotations were established 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.
l) In the event that the WIBOR 1M rate referred to in point 4.2 letter k 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.
m) The amount of the Contractor's margin remains unchanged throughout the loan period.
n) The Contractor shall inform the contracting authority in writing about the amount of interest to be repaid on the loan taken out, specifying the variable rate of WIBOR 1M by the 5th day of the following month after the month for which the interest was accrued.
(o) For the calculation of interest, the actual number of calendar days in each month and the year equal to 365 days shall be used.
p) Interest is calculated on the activated loan amount starting from the date of disbursement of the loan / tranche of the loan to the day preceding its actual repayment (repayment of the installment) inclusive.
(q) Interest payable monthly by the 10th day of the following month following the month for which the interest was accrued. The repayment of the last interest installment will take place on the date of full repayment of the loan.
The remainder is contained in Chapter 4 of the SWZ, point 4.2(r)-(t).