The subject of the contract is to grant a long-term loan in the amount of PLN 21,500,000.00 (in words: twenty-one million five hundred thousand zlotys 00/100) to finance the planned budget deficit.
1. The subject of the contract is the granting of a long-term loan in the amount of PLN 21,500,000.00 (in words: twenty-one million five hundred thousand zlotys 00/100) to finance the planned budget deficit.
2. Detailed terms of the contract, including the quality standards referred to in Article 246(2) of the PPL:
1) The principal will be repaid in monthly installments in the amounts and dates specified according to the repayment schedule referred to in Chapter V, point 2 of the PPK 1) SWZ,
2) The Ordering Party reserves the right, without incurring additional costs, to:
a) release of the incomplete loan amount, however, the minimum loan activation amount will not be less than PLN 12,000,000.00,
(b) early repayment of part or all of the credit.
In such cases, the Contractor shall not charge fees and commissions.
3) In the event of activation of an incomplete loan amount, early repayment of part or all of the loan, the Contractor and the Contracting Authority 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.
4) The date, number and amount of loan release tranches shall be determined by the Ordering Party according to its current needs.
5) 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.
6) The loan will be released 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.
7) The Ordering Party sets the final date of disbursement of the loan by 29.12.2023.
8) The loan will be paid to the account of the Ordering Party kept in the bank selected to service the bank budget of the poviat.
9) Interest will be repaid only on the amount of the loan actually activated (disbursed).
10) Capitalisation of interest is not permitted.
11) 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.
12) If the WIBOR 1M rate referred to in point V. 2. 11) 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.
13) The amount of the Contractor's margin remains unchanged throughout the loan period.
14) 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.
(15) The calculation of interest shall be based on the actual number of calendar days in each month, and a year equal to 365 days.
16) Interest is calculated on the activated loan amount starting from the date of payment of the loan / tranche of the loan until the day preceding its actual repayment (repayment of the installment) inclusive.
17) 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.
18) If the repayment date of the loan/interest on the loan expires on a public holiday or is not a business day for the Ordering Party, the repayment date shall be deemed to have been met if the repayment took place on the first business day after that day. It should be taken into account that this is the maximum period and there is a possibility of early repayment of the loan installment,