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7/18/2019 Pedido Aurelius
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EXHIBIT 1
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FISCAL AGENCY AGREEMENT
between
THE REPUBLIC OF
ARGENTINA
and
BANKERS
TRUST
COMPANY Fiscal
Agent
Dated as
of
October 19 994
ARG 1
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1 .
2 .
3 .
4 .
5 .
6 .
7.
8 .
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
T BLE OF
CONTENTS
Secur i t ie s Issuable in
Series
Appointment
of Fiscal
Agent; Paying Agents
Authentication
Registrat ion
Transfers and
Exchanges
Global Secur i t ies
Payment
Additional Amounts
Mutilated Destroyed Stolen
or
Lost Cert i f icates
Redemption and
Purchases
Cancel lat ion
and
Destruction
Negative
Pledge and Covenants
Default;
Acceleration
of
Maturity
Limit on Liabi l i ty;
Acceptance
of Appointment
Expenses
and
Indemnity
Successor Fiscal Agent
Meetings
of
Holders
of
Secur i t ies;
Modifications
Further Issues
Reports
Forwarding of Notice;
Inquir ies
Lis t ings
Notices
Consent to
Service;
Jurisdict ion
Governing
Law
and
Counterparts
i
Page
ARG0002
1
3
3
4
6
9
11
12
14
14
17
19
20
20
22
26
26
27
27
27
28
29
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24
Headings
29
Exhibit
A Form
of
Registered
Securi ty
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THE REPUBLIC
OF
ARGENTINA
FISCAL
AGENCY AGREEMENT dated as of October
19,
1994, between
The Republic of Argentina (the Republic ) and
Bankers
Trust
Company, a
New
York
banking
corporation,
as
f i sca l
agent.
1 . S e c u r i t j e s I s s ua bJ e in (a) The
Republic may
issue i t sno te s , securi t ies ,
debentures or
other
evidences of indebtedness
(the Securi t ies ) in
separate se r ies from time to time (each such
series
of
Secur i t ies
being
hereinaf ter referred
to
as a Series or
the Secur i t ies of
a Series ) . The
aggregate principal
amount of the Secur i t ies of a l l
Series
which may be
authenticated and delivered
under
this
Agreement
and
which
may be outstanding a t any time is
not
l imited by th is
Agreement.
The
t ex t of the Secur i t ies of
a Series
delivered
to
the
Fiscal Agent {as hereinaf ter defined)
for
authent icat ion on or ig ina l
issuance
pursuant
to Section
3 o f_ -
th i s Agreement sha l l
establ ish
i)
the
specif ic
designat ion
of the
Securi t ies
of such Series (which sha l l dist inguish
the Secur i t ies of such
Series
from
a l l other Series) ; i i )
any l imit
on the aggregate
principal
amount
of
the
Secur i t ies of such Series
which
may
be
authenticated and
delivered
under
th i s Agreement (except for
Secur i t ies
authenticated and delivered upon
regis t ra t ion
of t ransfer
of, or in
exchange
for , or
in
l ieu
of,
other
Securities of
such
Series pursuant to the
provisions
of
this Agreement or
of the Secur i t ies of such Series) ; i i i ) the price or
prices
(expressed
as a
percentage
of
the aggregate principal
amount
thereof)
a t
which the Secur i t ies of such Series will be
issued; (iv) the date or dates on which the principal and
premium,
i f any,
of
the Secur i t ies of such Series
is
payable;
v)
the
ra te
or
ra tes
(which
may
be
f ixed
or
floating)
per
annum
a t which
the Securit ies
of
such
Series
shal l bear in te res t ,
i f
any, the date or dates from which
such
in teres t , i f
any,
shal l accrue,
the interest.
payment
dates on which such in te res t sha l l be payable
and the
record
dates for the
determination of holders of
the Secur i t ies of
such
Series
to whom in te res t i s payable; (vi) the place
or
places where the principal of, and-premium, i f
any,
and
in te res t
on
the
Secur i t ies
of
such
Series are
payable; (vii)
the price
o r
pr ices a t which, the
period
or periods within
which and
the
terms
and conditions
upon which Secur i t ies
of
such Series
may
be
redeemed, in
whole or in
par t ,
a t
the
option of
the Republic or
otherwise;
(vii i)
the
obligat ion,
i f
any, of the
Republic to
redeem, purchase or repay
Secur i t ies
of such
Series
pursuant to
any
sinking
fund
or
analogous provisions and the
price
or prices a t which,
the
RG 4
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period or periods within which, and the terms and condit ions
upon
which Secur i t ies of
such Series shal l be
redeemed,
purchased or
repaid, in whole or
in par t
pursuant to
such
obligation;
(ix) the minimum denomination
and
any
multiples
thereof of the Secur i t ies of
such
Series, which
may be
in
u.s. dollars ,
another
foreign currency, units of
two or more
currencies or
amounts
determined
by
reference
to
an
index;
x)
the
currency
or
currencies in which the
principal ,
premium, i f
any,
or in te res t on such Securi t ies
may
be
payable;
(xi) the
manner
in which
the amount of payments
of
principal , premium, i f
any,
or
in te res t on such Secur i t ies
i s to be determined and i f
such
determination i s to be made
with
reference to
any
index; (xii l
any
covenants or
agreements of the Republic and events which give r i se to the
r ight of a
holder
of a Security of such Series
to accelerate
the
maturity of
such Securi ty other
than
such
covenants,
agreements
or events specified herein;
and
(xi i i )
any
other
terms of the Secur i t ies of such Series. Secur i t ies may be
issuable
pursuant to
warrants {if
so provided in the
tex t
of
such ·securi t ies) and the Fiscal Agent
may
act as warrant
agent
or in
any
similar
capacity
in
connection
therewith.
b) The
Securi t ies
of a Series are to
be
issued
in ful ly regis tered form
only,
without in te res t coupons, and
wil l
be issuable in
the
denominations specif ied in the
text
of
the
Secur i t ies
of
such
Series,
substant ia l ly
in
the
form
of Exhibit A
hereto
( registered
Secur i t ies ) . The
Secur i t ies of
a
Series
may
also have such addit ional
orovisions, omissions, varia t ions
or
subst i tut ions
as
are
not inconsis tent with the provisions of
this
Agreement,
and
may have such l e t te rs
numbers
or other marks of
ident i f ica t ion and
such legends
or endorsements placed
thereon
as may be required to comply
with
any law
or
with
any rules made pursuant
thereto
or with the rules of any
secur i t i e s
exchange or
governmental
agency or as
may,
consistent
herewith,
be
determined
by
the
off ic ia ls
executing
such
Secur i t ies , as evidenced by their execution
of such
Securi t ies .
All
Securi t ies
of a
par t icula r
Series
shal l be otherwise
substant ia l ly
ident ica l except as to
denomination
and
as provided
herein.
(c) The Secur i t ies wil l const i tute
(exceot as
orovided in
Section 11 below) direc t
unsecured and unsubordinated obligations of the Republic
shal l a t a l l t imes
rank
.I;la.ti passu and without any
preference among
themselves.
The payment obligat ions of
Republic under the Secur i t ies sha l l at a l l
times
rank a t
least equal ly with a l l i t s other present and
future
unsecured and unsubordinated
External
Indebtedness (as
defined
in
th i s
Agreement} .
2
and
the
ARG 0005
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2.
Appointment
of
FiscaJ Agent· Paying Agecrs .
(a) The Republic hereby appoints Bankers Trust
Company,
a t
present having
i t s
off ice a t
4
Albany Street , New York, New
York
10006
as
f i sca l agent, t ransfer agent, reg is t rar
and
principal paying
agent
of the Republic
for
the
Secur i t ies ,
upon the
terms and
condit ions se t
forth herein.
Bankers
Trust
Company
accepts
such appointments,
and
along
with
successors as such f iscal agent,
i s
hereinaf ter
referred to
as the Fiscal Agent
• The
Republic
reserves the r ight
to
appoint di f fe rent f i sca l
agents
for
dif ferent
series of
secur i t ies .
b) The
Republic
may appoint one
or more
addit ional
agents (hereinafter called
a Paying
Agent or
the Paying
Agents ) for the payment
(subject to
the
applicable
laws and regulat ions) of
the
applicable
payment
of
principal ,
premium, i f any, and
in te res t
or Addit ional
Amounts (as
defined
in Section 7 herenf),
i f
any, on the
Securi t ies
a t such
place
or places as
the Republic may
determine
pursuant
to
an agreement (each, a Paying
Agency
Agreement );
provided
tha t
the
Republic
wil l
maintain
a t a l l .
times un t i l
no
Securi ty
i s outstanding a
Paying
Agent who
may be the Fisca l Agent) in the Borough
of
Manhattan, The
City of New
York. The Republic
will
keep the
Fiscal Agent
lnformed as
to
the name,
address,
and telephone
and
facsimile
numbers of
each Paying Agent appointed
by
i t
and
wil l not i fy the Fiscal
Agent
of the
resignat ion of any
Paying
Agent.
The Fiscal Agent
shal l
arrange
with
each
aying
Agent for the payment, as
provided
herein,
of the
principal and in teres t
or
Additional
Amounts,
i f
any,
on the
Secur i t ies on
terms
previously approved n writing by
the
Republic ( fur ther references
herein
to principal and
in te res t sha l l be deemed to also
re fe r
to
any
Additional
Amounts).
3 . Au then t . i ca t jqo .
a) The
Fiscal
Agent
shal l ,
upon del ivery
of the
Secur i t ies to t
by
the
Republic,
and a
writ ten
order or orders
to authenticate and deliver
Secur i t ies
in a sta ted aggregate
principal amount, (i)
authent ica te and reg is ter not more
than
said aggregate
principal amount of Secur i t ies
and
del iver
them in
accordance with the
wri t ten
order
or
orders of
the
Reoublic
and
i i ) thereaf ter
authenticate
and reg is te r
Secur i t ies and
de l iver
them
in accordance
with
the provisions of
4, 5
and
of th i s Agreement. The to ta l principal amount of
the
Securi t ies
to be issued and outstanding
a t
any
time
sha l l not be l imited
hereby.
b) The
Fiscal Agent
may,
with the prior
wri t ten
consent
of the
Republic,
appoint
by
an
instrument
or
instruments in writ ing one or
more
agents (which
may
include
3
ARG 0006
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i t s e l f for the authentication of Secur i t ies of a Series
and, with such consent, vary or terminate
any
such
appointment
upon writ ten notice and approve
any
change in
the
off ice through which any authenticating
agent
acts . The
Republic by writ ten notice to the Fiscal Agent
and
the
authent ica t ing
agent
whose appointment
i s
to be terminated)
may also terminate any such appointment a t any time. The
Fisca l
Agent
hereby agrees
to
so l ic i t
writ ten
acceptances
from the en t i t i e s concerned
in form and substance
sa t i s fac tory to the Republic) of such appointments. In i t s
acceptance of such appointment, ea ch such authent ica t ing
agent
shal l agree
to act
as an
authent icat ing
agent pursuant
to the terms and condit ions of th is Agreement.
c)
Unti l
def ini t ive Secur i t ies
of a
Series
are
prepared, the
Republic
may execute, and there
sha l l
be
authent icated
and delivered in accordance with the
provisions hereof
in l ieu
of
defini t ive Securi t ies
of such
Series , temporary Secur i t ies
of
such Series.
Such
temporary Secur i t ies of
a
Series sha l l be subject to the
same l imi ta t ions
and condit ions and
ent i t led- to the same
r ights
and
benef i ts
as
def ini t ive Secur i t ies
of
such
except
as
provided herein or there in.
Temporary
Securit ies-
of a
Series shal l
be
exchangeable for
def in i t ive Secur i t i e s
of such
Series
when
such
def in i t ive Secur i t ies
are
avai lable
for delivery; and upon the
surrender
for exchange of such
temporary Secur i t ies
of a
Series,
the
Republic shal l
execute
and
there
shal l be authenticated and delivered, in
accordance
with
the provisions
of
Sections and
4
hereof,
in
exchange
for such
temporary
Secur i t ies of
a Series , a
l ike aggregate
principal
amount of def in i t ive Secur i t i e s
of
such Series
and
of l ike
tenor. The
Republic sha l l pay
a l l
charges,
including
without l imitat ion) stamp
and
other
taxes and
governmental charges,
incident
to
any
exchange of
temporary Secur i t ies for
defini t ive
Secur i t ies .
All
temporary
Secur i t ies
shal l
be
ident i f ied
as
such
and
sha l l
describe the r ight of the holder thereof to effec t an
exchange
for
def in i t ive Secur i t ies and
the
manner
in
which
such an
exchange
may be effected.
4 . Regis t ra t ion. Transfers and
Exchanges.
a)
The
Fiscal Agent, as agent of the Republic for such
purpose, wil l a t a l l t imes keep a t the off ice of the Fisca l
in the Borough
of Manhattan,
The City of ew York, a
reg ls ter or reg is ters for the reg is t ra t ion and
r eg i s t r a t ion
of t ransfe rs
and
exchanges
of Secur i t ies ,
in
which sha l l
be
entered the
names
and
addresses of
the
regis tered
holders of
Secur i t ies
and the
part iculars
of
the Secur i t ies
held y
such
regis tered
holders. Subject to Section 5 hereof, upon
surrender for
t ransfe r
of
any
Security
of
any
Series
a t
sa id
off ice , Fiscal Agent shall authenticate, reg is ter and
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de l ive r
in
the
name
of the t ransferee or t ransferees
a new
Secur i ty
or
Secur i t i e s of any
Series
for
a l ike
aggregate
pr inc ipa l amount.
Subject to Section 5
hereof,
upon
surrender of any Securi ty a t said off ice for exchange,
the
Fisca l Agent
shal l authent ica te , reg is ter and
de l ive r
in
exchange for
such
Securi ty a new Securi ty
o r
new
Secur i t ies
of the
appropria te
authorized
denomination(s)
and for a l ike
aggregate
pr inc ipa l
amount
n
accordance
with
the provisions
of the Secur i t i e s .
b) All new Secur i t ies authent icated and
del ivered by the
Fiscal
Agent upon reg is t ra t ion
of
t ransfe r
o r
in exchange for Secur i t ies of other denominations sha l l
be so dated
tha t ne i ther
gain nor
loss of i n t e res t shal l
re su l t from such
reg is t ra t ion
of
t ransfe r or
exchange.
(c)
All
Secur i t ies presented
or
surrendered for
r eg i s t r a t ion
of
t ransfe r ,
exchange
or payment shal l
be
accompanied by
a
writ ten instrument or instruments of
t r ans fe r
in
form
sa t i s fac tory to
the Fiscal
Agent, duly
executed by the regis te red holder or i t s at torney duly
authorized
in
wri t ing
and
with
the signatures
thereon duly
guaranteed by
a commercial bank
or
t rus t company having i t s
pr inc ipa l of f ice in The City
of ew York
o r by
a member of
the
ew York Stock Exchange.
d) The Fiscal Agent shal l not impose
any service
charge on the reg is te red
holder
on any such
reg is t ra t ion ,
t rans fer or
exchange of
Secur i t ies ; however, the
may require
of
the
par ty request ing
such t rans fer
or
exchange, as a condit ion
precedent
to
the
exercise of any
r ight
of
t rans fer or
exchange
contained n
th i s
Agreement o r
n the
Secur i t ies , the payment of a sum
su f f i c ien t
to cover
any
stamp
or
other
tax or o ther
governmental charge payable
in connection therewith.
(e) The
Republic,
the
Fiscal
Agent
and any
Paying
Agent
may t r ea t
the
person
in
whose name any
Securi ty
i s
reg is te red
as the owner of such Secur i ty for the purpose of
receiv ing
payment of principal
of
and
in teres t
on such
Securi ty ,
and
a l l other
purposes
whatsoever, whether
or
not
such
Sec4ri ty
be
overdue,
and none
of
the Republic,
the
Fisca l Agent
or any
Paying Agent sha l l be af fec ted by any
notice to the
contrary
and any such
payment
shal l
be
a good
and suf f ic ien t discharge
to the
Republic, the
Fiscal Agent
and
any
Paying Agent
for
the
amount so
paid.
(f)
The Fiscal Agent shal l not be required
to
reg i s t e r any t rans fer
or
exchange
of
Secur i t ies during the
period
from the
Regular
Record Date (as defined in such
Secur i t ies to the In te res t
Payment
Date (as defined in such
5
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Securit ies) and for the
purposes
of any in teres t
payment
made in
accordance
with Section 6 hereof, such payment
shal l
be
made to those persons in whose names the Secur i t ies are
regis tered on such Regular Record Date.
5. J
obal Secur j t jes . The Secur i t ies
of
any
Series may
be
issued
in
whole or in
par t
in
the
form of
one
or more
global
secur i t ies
( Global
Securi t ies )
tha t
wil l
be
deposited with, or on behalf
of, a
deposi tary
(the
Depositary ) re la t ing to such Series. Global secur i t ies
may be issued
only
in
ful ly
regis tered form
and
in e i the r
temporary or
def in i t ive form. Unless and unt i l
t
is
exchanged
in whole or in par t
for Secur i t ies
in def in i t ive
form, a Global Securi ty may not be t ransferred except as a
- - - -=__whole by
the
Depositary for such Global Securi ty
t o a
nominee of such Depositary
or
by
a
nominee of such
Depositary to
such Depositary
or
another nominee of
such
Depositary or
by
such
Depositary
or
any
nominee
of such
Depositary
to a
successor
Depositary or any
nominee
of such
successor .
Upon
the issuance of
a
Global
Securi ty,
the
Depositary
for such Global
Securi ty wil l c redi t on i t s book-
entry
reg is t ra t ion and
t ransfe r
system the respective
pr incipal amounts of the Secur i t ies
represented
by such
Global Securi ty to
the
accounts of Persons that
have
accounts
with such
Depositary ( Participants ) .
The
accounts
to be credi ted
shal l be
designated by the agents or
underwriters
with
respect
to such
Secur i t ies
or by
the
Republic i f
such are
offered
and sold di rec t ly by
the Republic. Ownership
of benef ic ia l in teres ts in a Global
Securi ty will
be l imited
to
Par t ic ipants
or Persons
tha t m y
hold in teres ts through Par t ic ipants . Ownership of
benef ic ia l in teres ts
in
a Global Securi ty will
be
shown on,
and the t ransfe r of tha t ownership will be effected only
through,
records
maintained
by
the
applicable
Depositary
(with respect to in teres ts of Participants)
and
records
of
Par t ic ipants (with
respect
to in teres ts of Persons
who
hold
through
Part ic ipants) . Owners of beneficial in teres ts in a
Global Securi ty
(other
than Participants) will not receive
wri t ten
confirmation from the applicable Depositary of the i r
purchase.
Each beneficial
owner is expected to
receive
writ ten
confirmation providing
de ta i l s of
the t ransact ion,
as well as
periodic
statements of i t s
holdings, from
the
Depositary
i f such benef ic ia l owner
i s
a Participant) or
from the Par t ic ipant through which such benef ic ia l
owner
entered into the t ransact ion i f such
benef ic ia l owner i s
not
a Part ic ipant) The
laws of
some
s ta tes require tha t
cer ta in purchasers of secur i t i e s take
physical
del ivery
of
such
secur i t i e s
in
def in i t ive
form. Such
l imits
and
such
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laws
may impair the
a b i l i t y
to own
pledge
or
t r an s fe :
b en e f i c i a l i n t e r e s t s
in
a
Global
Securi ty .
So long as the
Deposi tary fo r
a Global
Secu : i ty
o r its nominee i s
the
reg i s t e red
owner of
such Global
Se c u r i t y
such Depos i ta ry o r such
nominee as
the
case may
be
wi l l be
considered
the
so le owner
o r
holder o f the
Secu r i t i e s
r epresen ted
y
such
Global
Secur i ty
fo r
a l l
purposes under t h i s
Agreement.
Except
as
spec i f i ed below
o r
with
re spec t
to the terms o f Secur i t i e s o f a Ser i e s
owners
o f
bene f i c i a l i n t e r e s t s in a Global
Secur i ty
w i l l
not
be
e n t i t l e d to
have any
o f the individual
Secur i t i e s
represen ted
y such
Global
Secur i ty reg i s t e red
in t h e i r
names and
wi l l
not
rece ive
o r
be
e n t i t l e d to receive
-·--physi-cal de l ive ry o f
any
such
Secur i t i e s
in d e f in i t i v e form
and
wTll
not be considered the owners o r
holders
thereof
under
such Se c u r i t i e s
o r t h i s Agreement. Accordingly
each
Person
owning a
b e n e f i c i a l
i n t e re s t i n a Global Se c u r i t y
must r e l y
on the procedures o f the Deposi tary fo r such
Global Secur i ty
and i such
Person
i s not
a
Pa r t i c i p a n t on
t he procedures o f the Par t i c ipan t through which such
Person
owns
its
i n t e re s t
to exerc i se
any r i g h t s
of a
holder
under
the
Se c u r i t i e s o r t h i s Agreement. The Republ ic unders tands
t h a t under ex i s t ing indus t ry p rac t ices i f the Republ ic
reques t s any ac t ion of holde rs o r
an owner
of a
bene f i c i a l
i n t e r e s t
in such Global Secur i ty des i re s to
take any
ac t ion
which a
holder i s e n t i t l e d
to
take under the
Fisca l Agency
Agreement the Depos i ta ry fo r such Global
Secur i ty would
the
Pa r t i c i p a n t s
holding
the
re levant
i n t e r e s t s
to
t ake
such
ac t ion and such Par t i c ipan t s would
au thor ize
b en e f i c i a l owners
owning
through such Par t i c ipan t s to take
such ac t ion o r
would
otherwise
act upon
the i n s t ru c t i o n s of
b e n e f i c i a l
owners hold ing through them.
Payments o f p r in c ip a l of
and any
premium and
any
i n t e r e s t
on
Secu r i t i e s
reg i s t e red
in the name o f a
Depos i ta ry
o r i t s nominee
wi l l be
made to the Deposi tary or
its nominee as
the
case may be as t he holder
of
the Global
Se c u r i t y
represen t ing
such Secur i t i e s . None of the
Republ ic any Paying Agent o r
the
Fisca l Agent n i t s
capac i ty
as
r e g i s t r a r fo r
such
Debt Secu=i t i e s
wi l l
have
any r e s p o n s ib i l i t y
o r l i a b i l i t y
for
any
aspect o f t he
records
r e l a t i n g
to o r
payments
made on
account
of
b en e f i c i a l i n t e r e s t s
in
a
Global
Secur i ty o r fo r
main ta in ing superv i s ing
o r
reviewing any
records
r e l a t i n g
to
such
bene f i c i a l
The
Republ ic expects
t ha t
t he Deposi tary for a
se r i e s of
Secur i t i e s o r its
nominee upon rece ip t o f any
payment
of
pr inc ipa l
premium
o r
i n t e r e s t
in re spec t o f
Global Secur i ty represen t ing
such
Secur i t i e s
wi l l
c r e d i t
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Part ic ipants '
with payments in amounts
proport ionate to the i r respective beneficial in teres ts
in
the
principal
amount of such Global
Security
as shown on
the
records of such Depositary. The
Republic
also expects
tha:
payments by
Par t icipants to owners
of
benef ic ia l
in te res t s
in such
Global Securi ty
held through such Par t icipants
wil l
be governed by
standing
ins t ruc t ions
and
customary
pract ices ,
as
is
now the case with
securi t ies
held for
the
accounts
of customers in bearer
form
or
regis tered
in
s t ree t name
• Such payments wil l
be
the responsibi l i ty of
such
Part ic ipants .
I f a t
any
time the Depositary
not i f ies
the
Republic tha t - i t
s unwilling
·or unable
to
continue as
Depositary for- the Securi t ies ,
or
i f the
Republic
not i f ie s
the Depositary
tha t
t wil l no longer continue as
Depositary
for
the Securi t ies ,
or
i f
·at
any
time
the Depositary ceases
to
be
a clear ing
agency regis tered
under the
United States
Secur i t ies Exchange
Act
of 1934, as amended or otherwise
ceases
to
be
el ig ib le to
be
a Depositary, the
Republic
shal l
appoint
a·successor
Depositary with respect to
such
Securi t ies .
I f
a
successor
Depositary
for
such
Securi t ies
i s
not appointed by the Republic within 90
days
a f t e r
the
Republic receives such notice or
becomes
aware of
such
ine l ig ib i l i ty , or i f the Depositary
not i f ies the
Fiscal
Agent
or the
Republic
of the accelerat ion of the
indebtedness
under
the Securi t ies in accordance with the
terms of
the Securi t ies , the
Republic will execute,
and the
Fiscal Agent upon
receipt
of such
executed defini t ive
wil l
authent icate
and
deliver,
Secur i t ies in
def in i t ive regis tered form without
coupons,
in denominations
of U.S. 1,000 and in tegra l multiples thereof (unless some
other
denomination
i s specif ied
in
terms of the Securi t ies
of a Series) ,
in
an
aggregate pr incipal amount equal to the
aggregate
principal
amount
of
the Global
Securi t ies .
The Republic may at
any time and
in i t s sole
discre t ion
determine
not
to
have any
of
the
Secur i t ies
held
in the form
of Global
Securi t ies . In such event, the
Republic
will execute,
and
the
Fiscal
Agent,
upon receipt
of
such
executed def in i t ive Securi t ies
will authenticate
and
deliver , Securi t ies in defini t ive registered form
coupons, in
denominations
of U.S. 1,000 and integral
mult iples
thereof
(unless
some other denomination
i s
spec i f ied in terms of
the Securi t ies
of a Series ,
n
an
aggregate
pr incipal amount equal
to
the aggregate
principal
amount of the Global
Securi t ies .
Upon the exchange of the Global
Secur i t ies
for
Securi t ies
in
def in i t ive
regis tered
form
the
Global
Securi t ies
sha l l be canceled
by
the Fiscal Agent.
8
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Secur i t i e s
in
def in i t ive
regis tered form issued in exchange
for
the
Global Secur i t ies pursuant to this sect ion sha l l be
reg is te red in
such names as the Depositary, pursuant to
ins t ruc t ions from i t s di rec t or
indirect
part ic ipants
otherwise, sha l l ins t ruc t the
Fiscal
Agent
or
the Reoublic.
The Fiscal Agent sha l l del iver such Securit ies in
defini t ive
regis tered
form
to
or
as
directed
by
the persons
in
whose
names
such def in i t ive
regis tered Securit ies
are so
reg is te red and wil l d i rec t
a l l payments
to be made in
respect
of such Secur i t ies in def ini t ive regis tered form to
the
reg is te red holders thereof
on or
af ter
such
exchange
regardless of whether
such exchange
occurred
af te r
the
record date
for
such payment.
All
Securit-ies
in
defini t ive
regis tered form,
issued
upon
the
exchange
of
the
Global
Secur i t ies ,
shal l
be
va l id obligat ions of the
Republic,
evidencing the same debt,
and ent i t l ed to the same benef i ts under
this
Agreement, as
the Global Secur i t ies surrendered upon
such
exchange.
: Payment. (a) The
Republic
will
pay
to the
Fiscal
Agent,
the
amounts,
a t
the
times
and
for the
purposes
se t
for th
herein and
in
the
t ex t of
the Secur i t ies
of
a
Series ,
not l a te r than
1:00
p.m. ew
York
City
time to
an
account to be specif ied by the
Fiscal
Agent, on the day on
which
the same
sha l l
become due,
a l l
amounts to be paid on
the Securi t ies of
such Series
as required by the
terms
of
the
Securi t ies
and the
Republic
hereby authorizes and
direc ts the Fiscal Agent, from the funds so paid to i t to
make
payments
in respect of the Securit ies in accordance
with t he i r
terms and
the
provisions se t forth below. I f any
date
for
payment
in respect of a Security i s not a Business
Day,
such
payment shal l be made on the next following
Business Day.
Business
Day means a day on
which
banking
ins t i tu t ions in
The
City of ew
York and at the appl icable
place
of
payment
are
not
authorized
or
obligated
by law
or
executive
order
to be closed.
The
Fiscal
Agent shal l
arrange
direc t ly
with
any Paying
Agent who
may have been
appcinted pursuant to the provisions of
Section
2 hereof
for
the payment from funds so paid by the Republic o'f the
pr inc ipa l
of
(and premium, i f any) and any in teres t on the
Secur i t i e s
cf
such
Series
as se t
forth
herein and in
the
text of sa id
Securi t ies .
Notwithstanding
the foregoing,
where the terms
of
such Secur i t ies
expressly
so provide
and
the Republic so not i f ies the Fiscal Agent the Republic may
provide direc t ly a
Paying Agent
with funds
for
the payment
of the
pr inc ipa l thereof and
premium
and
in teres t
i f
any,
payable
thereon under
an agreement
with
respect
to such
funds containing substant ia l ly the same terms and
condit ions
se t for th
in
th is
Section;
and
the Fiscal
Agent
shal l
have
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no
responsib i l i ty
with respect
to any funds so provided by
the Republic to
any
such
Paying
Agent.
b) All payments with respect to the Global
Secur i t ies
shal l
be made
by
the
Fiscal Agent to the
Depositary
in
accordance with the regular procedures
establ ished from time to time by the Depositary.
c) Payment of
principal and
premium; i f
any, in
respect of
Secur i t ies
in definit ive registered form issued
pursuant hereto shal l
be
made a t the off ice of the Fiscal
Agent
in
the Borough of Manhattan, The City of
New
York, or
a t the off ice of any Paying Agent appointed by the Republic
for such
purpose pursuant to
th is Agreement against
surrender of
such
Any in te res t on Secur i t ies
of
a
Series sha l l be
paid, unless
otherwise provided in the
text of the Securi t ies of such Series , to the
persons
in
wnose names
such Securi t ies
are
registered on the
r eg i s te r
maintained for such purposes a t the close of
business
on
the
record
dates
designated
in the text of the Securi t ies of
such
Series.
I f
so provided with
respect
to the
Secur i t ies
of
a Series,
payments
of
in teres t
prior
to or
on
maturity may be made
by
forwarding by post or otherwise
delivering
a check
to
the registered addresses of regis tered
holders.
of
Secur i t ies , or,
a t the
optiqn of the Republic,
otherwise
t ransferring funds to
the regis tered holders of
the Securi t ies . Such check
sha l l be made
payable to the
order
of
the registered
holder
or, in the case
of
jo int
registered holders, to the order of a l l such jo int holders
fa i l ing ins t ruct ions from
them
to the contrary) and shal l
be sent to
the
address of that one of such jo int holders
whose name stands f i r s t in the
regis ter
as one of such jo in t
holders.
The
Fiscal Agent
shal l mail or otherwise del iver
such checks
to the
names
and
addresses
of registered holders
of Secur i t ies suff ic ien t ly in advance of the relevant due
date
for
payment
that receipt
of
such
checks by
. registered
holders on or before the due date is reasonably assured.
d)
All
money paid to
the
Fiscal Agent under
Section
6 a)
of
th is Agreement
sha l l be
held by i t in
a
separate account from the moment when
such
money i s
received
unt i l the time
of actual payment,
in t rus t for the
registered holders of
Securit ies
to be applied by the Fiscal
Agent
to payments due
on
the Securi t ies a t the time and in
the
manner
provided
for in th is Agreement and the
Securi t ies . ny money deposited with
the Fiscal
Agent for
the
payment in
respect of
any
Securi ty remaining unclaimed
for
two
years af te r
such
principal or
interest shal l have
become
due
and
payable
shall
be
repaid to
the Republic
upon
written request without in teres t and the registered holder
10
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of Securi ty
may
thereafter
look
only to
the
Republic for any
payment
to
which holder m y be
ent i t led.
7.
Additional
Amounts.
All
payments of
principal ,
premium,
i f
any,
and in teres t in respect of the
Securi t ies by the Republic
will be
made
free
and c lear of,
and without withholding
or
deduction
for or
on
account
of,
any present
or
future
taxes,
duties, assessments or
governmental
charges of
whatever nature
imposed, levied,
col lected, withheld
or
assessed by o r
within
the Republic or
any author i ty therein
or thereof having
power to tax
(together Taxes ), unless
such
withholding or
deduction
s
required by law.
In such event, the Republic shal l pay such
addit ional amounts as will resul t in
receipt by the holders of Securi t ies_of such amounts of
principal ,
premium
and in terest
as
would have been received
by them
had
no such withholding or deduction
been
required,
except that no such Additional Amounts shall
be
payable with
respect to
any
Securi ty:
·
a}
to
a
holder
(or
to
a
th i rdpa . i ty
on
behalf
of
a
holder)
where such holder is l iable
for
such Taxes
in respect of any Security by reason of his
having
some connection with the Republic other than
the
mere
holding of such Securi ty
or
the receipt of
principal , premium or in te res t
in
respect thereof ;
or
b)
presented for payment
more than 30
days the
Relevant Date, as
defined herein,
except to the
extent
that the holder thereof would have been
ent i t l ed
to
Additional Amounts on present ing the
same
for
payment on
the
l a s t day of such period of
30
days.
Relevant Date in
respect of any
Securi ty
means
the
date
on which
payment
in respect thereof
becomes
due
or
i f the
fu l l amount
of the
money
payable
on
such date
has
not
been received by the Fiscal
Agent
ori
or
prior
to
such
due date) the
date on
which notice
i s
duly given to the
holders in the manner
described
in
Section 21 below tha t
such moneys
have
been so received and
are
available for
payment. Any reference
herein
to principal and/or
interest
sha l l
be deemed
to
include any Additional
Amounts
which m y
be
payable under the Securi t ies .
so
long
as any Security
remains
outstanding, the
Republic
covenants
to maintain i t s membership in, and
i t s
e l ig ib i l i ty
to
use
the general resources
of,
the
Internat ional Monetary
Fund.
11
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B.
Murj Ja ted .
OY Lqst
Ce ...t
rj cates. (a) In case
any
Secu "'ity ce r t i f i ca t e is
mutilated,
defaced,
destroyed,
s to len or
los t applica t ion
for replacement
shal l be made to the
Fiscal
Agent who sha l l
promptly transmit
such appl icat ion
to the Republic. such
applica t ion sha l l be accompanied by the muti lated or defaced
ce r t i f i ca t e or
receipt of proof,
sa t i s fac tory to
the
Republic
in
i t s
discre t ion
of the
destruct ion,
thef t
or
loss
of
the ce r t i f i ca t e and upon
receipt
by i t of an
indemnity sa t i s fac tory to the Republic and the Fisca l Agent,
the Republic shal l execute
a new
ce r t i f i ca t e
of
l ik
tenor,
and
upon writ ten ins t ruc t ions from the Republic the Fiscal
Agent sha l l thereupon cancel the mutilated or defaced
ce r t i f i ca t e i f applicable and authent ica te , reg is ter and
de l ive r such new cer t i f ica te in excnangefOr t:he
mutilated
or
defaced cer t i f i ca te or in subs t i tu t ion
for
the destroyed,
stolen
or
los t cer t i f i ca te . Such new
ce r t i f i ca t e
wil l be
so
dated tha t
ne i the r
gain
nor loss
in
in teres t
wil l resu l t
from
such exchange
or
subst i tut ion. All
expenses associated
with procuring
such indemnity
and with the
preparat ion ,
authent icat ion and del ivery of
a·
new-cer t i f ica te
wil l
be
borne by
the
reg is te red
holder
of
the muti lated,
defaced,
destroyed,
s to len or los t
cer t i f ica te .
(b) Whenever any Securi ty,
al leged
to
have
been
los t stolen
or
destroyed
in replacement
for
which
a new
Securi ty
has
been issued,
i s
presented to the ? i sca l Agent
or any Paying Agent for payment a t maturi ty or a t redemption
for reg is t ra t ion of t ransfer
or
exchange,
the
Fiscal
Agent
or the
Paying Agent, as the case may
be, shal l
immediately
not i fy the Republic in respect thereof and sha l l
deal
with such Secur i ty in accordance with the Republic 's
ins t ruc t ions .
9 Redemptj
on
and Purchases.
(a)
Unless
otherwise
permit ted
by
the
terms
of
the
Secur i t ies
of
a
Series, Secur i t ies
wil l
not be redeemable
pr ior
to maturity
a t the
option
of the Republic
or
the regis tered
holders
thereof .
(b) The
Republic hereby authorizes
and
direc ts
the
Fiscal
Agent
to
administer
the
sinking fund .Yith
respect:
to the
Secur i t ies
of
any
Series
having
a mandatory
sinking
fund
or s imilar provision
in
accordance with the provisions
se t for th in
the terms of the
Securi t ies
of such Series . I f
the
provisions
of
the
Secur i t ies of
a
Series
permit the
Republic
to redeem Secur i t ies of such Series a t option,
then the Republic
shal l unless otherwise provided
in
the
terms
of the
Secur i t i e s of such Series,
give writ ten not ice
to
the Fiscal
Agent
of the
principal
amount
of
Secur i t ies
of
such
Series to
be
so redeemed
not less than 60
days
pr io r to
12
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the
optional redemption date. I·f the
provisions of
:he
Secur i t i e s of
a Series permit the
Republic
to redeem
Securi t ies
of
such Series
only upon the occurrence or
sa t i s fac t ion of a condit ion or condit ions precedent thereto,
then
prior
to the
giving
of notice of redemption of the
Secur i t i e s
of
such
Series, the Republic
shal l
del iver to the
Fiscal
Agent a ce r t i f i ca t e sta t ing
that
the Republic s
en t i t l ed
to
ef ;ec t
such redemption
and
se t t ing
in
reasonable
deta i l a statement of
fac ts
showing tha t such
condit ion or condit ions
precedent
have
occurred
or
been
sa t i s f ied . I f the provisions of
the
Securities of
a
Series
obligate the Republic
a t the
request
of the
holders
to
redeem
Secur i t ies
of such
Series upon the occurrence
of
cer ta in events
(each
hereinaf ter referred
to
as a
Redemption Event ) then the Republic shall·-promptly
de l ive r
wri t ten not ice
to the
Fiscal Agent tha t a--F_edemption
Event has occurred. Promptly
af te r receiving
wri t ten notice
of
a Redemption Event,
the
Fiscal
Agent
sha l l
del iver
wri t ten
notice to
each holder
of the Securities
of
such
Series sta t ing
that
a Redemption Event
has
occurred and tha t
such holder may tender i t s Secur i t ies by del iver ing wri t ten
notice
of
i t s
e lec t ion
to
tender
.for redemption,
together
with the ce r t i f i ca t e or
cer t i f ica tes
for the Secur i t ies to
be redeemed,
to
the
Fiscal
Agent within
60
days
of the
Fiscal
Agent's
notice
(hereinaf ter referred
to
as
the
Option
Period ).
Thereafter, the Republic
shal l
(i) in the
manner provided in
the
provisions of the
Secur i t ies
of
such
Series
and as
contemplated by Section 6 hereof, arrange with
the
Fiscal
Agent (and
each
Paying Agent
for the
purpose,
i f
applicable) for the provision.of funds
suffic ient
to make
payments to
such
holders in respect
of
such
redemptions, and
i i )
redeem such
Secur i t ies
within 6 days of the
expirat ion
of the Option
Period.
The Fiscal
Agent
sha l l provide the
Republic
from time to
time during and
upon expirat ion
of
the
OPtion Period with
reasonable
deta i led information as to
Secur i t ies
tendered
for
redemption.
All not ices
of redemption
of
or Redemption
Events
re la t ing to
Securi t ies
of a Series to the holders
thereof
shal l
be
made
in
the name and a t the expense of
the Republic
and shal l be given in
accordance
with
the provisions
appl icable
there to se t
for th
in the terms of
the
Secur i t ies
of
such Series.
Whenever le ss than a l l the
Securi t ies
of a
Series
with the same in te res t ra te and maturity a t any time
outstanding are to be
redeemed
a t the option of
Republic,
the
par t icu lar Secur i t ies of
such
Series
with such
in te res t ra te and maturi ty
to
be redeemed shal l
be se lected
not
more
than
60
days
prior
to
the
redemption
date
by
the
Fiscal
Agent from the outstanding
Securi t ies
of such Series
13
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not previously cal led
for
redemption
by such
usual method as
the
Fiscal Agent shal l deem fair
and
appropriate ,
which
method
may
provide for the se lect ion
for redemption of
portions of
the
principal amount of regis tered
Secu=it ies
of
such
Series the minimum
denominations
of
which, i f any,
will
be
specif ied
in
the terms
of the Secur i t ies of such
Series .
Upon
any
par t i a l
redemption
of
a regis tered
Securi ty
of
a
Series,
the Fiscal
Agent sha l l
authenticate
and del iver in
exchange
therefor
one or
more regis tered Secur i t ies of
such
Series , of any authorized denomination and l ike tenor as
requested
by the holder thereof, in aggregate principal
amount equal to
the
unredeemed portion of the principal of
such Securi ty .
(c) The
Republic
may a t
any
time
purchase
Secur i t ies a t
any price
in
the
open market or otherwise,
provided tha t in any such case such
purchase or
purchases
are in compliance with a l l relevant
laws,
regulations and
di rec t ives .
Secur i t ies
so
purchased by the Republic, may,
at the
Republic s
disc re t ion be held, resold
or
surrendered
to
the
Fiscal
Agent
for cancel la t ion .
The Secur i t ies
so
purchased, while held by or on behalf or for the benef i t
of
the Republic
sha l l
not ent i t l e the regis tered holder thereof
to vote a t any
meetings
of registered holders of Secur i t ies
and sha l l
not be deemed to
be outstanding
for the purposes
of ca lcula t ing quorums
a t meetings of the
regis te red holders
of the Securi t ies . Notwithstanding the foregoing, the
Republic wil l not acquire any
benefic ia l in teres t
in any
Secur i t ies
unless
i t gives
pr ior
written notice of.each
acquis i t ion
to
the Fiscal
Agent.
The
Fiscal Agent will be
en t i t l ed to re ly without fur ther inves t igat ion on any such
not i f ica t ion (or lack thereof) .
. d) I f the Republic elects
to
cancel any
Secur i t ies when Secur i t ies have been issued in the form of a
Global
Security,
i t
may
request
the
Fiscal
Agent
co
ins t ruc t
the Depositary to
reduce
the outstanding
aggregate
principal
amount of the Global Secur i t ies in accordance
with
the
regular procedures
of
the Depositary in
effect
at such time.
10. CanceJlation and Dest;ruction. All Secur i t i e s
which are paid
a t
maturi ty or
upon ear l i e r repurchase,,
are
mutilated,
defaced
or surrendered
in exchange
for
ce r t i f i ca t e s shal l be cancel led by the
Fiscal
Agent who
shal l reg is ter such cancellation. The Fiscal Agent
shal l .
as
soon as pract icable af te r the
date of
any such
cancel la t ion, furnish the Republic
with
a cer t i f ica te o
ce r t i f i ca t e s s ta t ing the ser ia l numbers and to ta l number of
Securi t ies
that have been cancel led. The Fiscal Agent shal l
destroy a l l
cancelled
Secur i t ies in accordance with
the
inst ruct ions
of the Republic
and
sha l l
furnish
to
the
14
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Republic , on a t ime ly
b a s i s , c e r t i f i c a t e s
of des t ruc t ion
s t a t i n g the s e r i a l
numbers,
d o l l a r value
and
toca l of
a l l Secu r i t i e s des t royed hereunder.
11. Negatiye
PJedge
and Covenants. So long as
any
Secur i ty remains outs tanding, save for
the
except ions
se t
fo r th
below,
the
Republ ic
wi l l
not
c rea te
o r
permi t
to
s u b s i s t
any
l i en ,
pledge,
mortgage, secur i ty i n t e r e s t , deed
of t r u s t , charge
o r
othe r
encumbrance o r p re fe ren t i a l
arrangement which
has the p rac t i ca l
e f fec t
of
c o n s t i t u t i n g
a
s ecu r i t y
i n t e r e s t
( Lien )
upon
the whole
or
any
p a r t
of
i t s
as s e t s o r revenues to
secure
any Publ ic
External
Indebtedness
o f
the
Republ ic
unless ,
a t
the same t ime
or
p r i o r
t he re to ,
t he Republ i c s obl iga t ions
under the
Secu r i t i e s e i t h e r
(i) a re secured equal ly
and ra t ab ly
therewith , o r ( i i )
have
t he bene f i t of such othe r secur i ty ,
guarantee ,
indemnity
o r o t h e r arrangement as s h a l l be
approved by t he ho lde r s
of
the Secur i t i e s (as
provided in
Sec t ion
16) .
·
Notwi ths tanding the foregoing, the
Republic
may
permit
to
s u b s i s t :
( i ) any Lien
upon
proper ty to secure Publ ic
Exte rna l
Indebtedness of the
Republic
incurred fo r the
purpose
of
f inancing
the acqu i s i t i on of such proper ty ;
any renewal o r
ex tens ion
o f
any such Lien which i s
l imi t ed
to
the o r ig in a l proper ty covered the reby and
which
secures any
renewal
or
extension of the or ig ina l
secured f inanc ing ;
( i i l
any Lien ex i s t i n g on such proper ty a t the
t ime o f ts
acqu i s i t i on
to secure Public
Externa l
Indebtedness o f
the
Republic
and
any o r
ex tens ion o f
any
such
Lien
which i s
l imi ted to
the
o r ig in a l
proper ty
covered thereby and which secures any
renewal o r ex tens ion
of the
or ig ina l
secured f inancing;
( i i i} any
Lien
c rea ted in
connect ion
with t he
t r ansac t ions
contemplated by the
Republic
o f Argent ina
1992 Financing Plan
da ted June
23,
1992
sent to the
i n t e rn a t i o n a l banking
community
with tha
da ted June
23,
1992 from the Minis ter of
Economy
aP d
Publ i c Works
and
Services of Argentina (the 1992
Financing Plan ) and the implementing documentatior.
t h e r e f o r ,
any Lien to secure obl iga t ions
under the
co l l a t e ra l i zed s ecu r i t i e s i s sued t he reunder
( the Par
and
Discount
Bonds )
and any Lien secur ing
indebtedness ou t s t and ing
on
the date hereof
to
the
ex ten t
requ i red
to
be equa l ly
and
ra teab ly secured with
t he
Par and
Discount Bonds; ·
15
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(iv) any Lien n ex i s t ence on the date of t h i s
Agreement;
(v)
any Lien secur ing
Publ ic
External
Indeb tedness
of
the Republ ic i ssued upon sur render o r
cance l l a t ion
of
any
o f the Par
and Discount Bonds
o r
t he p r in c ip a l
amount of any
indeb tedness out s t and ing as
o f
June 23,
1992,
in
each
case ,
to
the
ex ten t
such Lien
i s c rea ted
to
secure such Publ ic Indebtedness on a
b a s i s comparable to t he Par and Discount Bonds;
(vi)
any Lien on any o f
the
Par and Discount
Bonds; and
(vi i ) any Lien
secur ing Publ ic
Externa l
Indeb tedness
i ncur red fo r the
purpose
o f f inancing
a l l
o r
p a r t of the cos t s of the acqu is i t ion , cons t ruc t ion
o r development
of
a projec t
prov ided
tha t (a) the
ho lder s o f
such
Publ ic
External Indebtedness express ly
agree
to l im i t
t h e i r recourse
to the asse t s and
revenues
of
such pro jec t as
the
pr inc ipa l
source of
repayment
o f
such
Publ ic External
Indebtedness
and
(b)
t he
proper ty
over which such Lien
i s
granted
c o n s i s t s
s o l e ly of such a s se t s and
revenues.
For
purposes o f
t h i s
Agreement:
Externa l
Indebtedness
means
obl iga t ions (other
than the
Secur i t i e s )
for
borrowed money
or evidenced
by
secur i t i e s ,
debentures ,
notes o r o t h e r s imi l a r ins t ruments
denominated
or
payab le , o r which a t the opt ion of the holder
the reof
may
be payab le , in
a
currency othe r
than
the
lawfu l
currency
of
the Republ ic
prov ided
t ha t no Domestic
Foreign
Currency
Indeb tedness ,
as def ined
below, s h a l l co n s t i t u t e
External Indeb tedness .
Publ ic External
Indebtedness
means, with re spec t
che Republ ic , any
External Indebtedness
of, o r guaranteed
by, t he Republ ic
which
( i) i s publ i c ly
of fe red
o r
p r i v a t e l y
placed in s e c u r i t i e s
markets , ( i i ) i s
in the form of ,
o r
represenced by, s ecu r i t i e s , notes
or o the r
s ecu r i t i e s
o r
any
guarantees t he reof and i i i ) i s , o r
was
in tended a t the t ime
o f
i s sue to be, quoted, l i s t e d o r t r aded
on
any s tock
exchange, automated t r ad ing system o r over - the -counte r
o r
o t h e r s e c u r i t i e s market ( inc luding, without
pre jud ice
to
the
g en e ra l i t y
o f
t he foregoing, secur i t i e s
e l i g ib l e
fo r PORTAL
o r a
s im i l a r market for the t r ad ing o f
s ecu r i t i e s
e l i g i b l e
for s a l e pursuant to Rule
144A
under the U.S. Secu r i t i e s
Act
o f
1933
(or any
successor
law
or regu la t ion of
s im i l a r
e f fec t ) •
16
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Domestic Foreign
Currency Indebtedness means
i l
the following indebtedness:
(a)
Bonos del
Tesoro
issued
under
Decree
No. 1527/91 and Decree No. 1730/91, b) Bonos
de Consolidaci6n
issued
under
Law
No. 23,982 and
Decree
No.
2140/91, (c)
Bonos de Consolidaci6n de Deudas
Previsionales
issued
under
Law
No. 23,982 and
Decree
No.
2140/91,
dJ
Bonos
de
la
Tesorer ia
a 10 Afios
de
Plaza
issued
under
Decree
No.
211/92
and Decree
No
526/92,
e) Bonos
de
la
Tesorer ia
a 5 Afios
Plazo
issued under
Decree
No.
211/92
nd Decree No.
526/92,
{f)
Ferrobonos
issued
under Decree
No.
52/92
and
Decree No. 526/92
and
g) Bonos de Consolidaci6n de Regalias
Hidrocarburiferas a 16 Afios
de Plaxo issued
under
Decree No
2284/92 and
Decree
No. 54/93;
i i )
any indebtedness issued
in
exchange, or as replacement, for
the
indebtedness
referred to
in
i) above;
and
i i i ) ny other
indebtedness
payable y
i t s
terms, or
which a t
che
option of the
holder
thereof may be
payable, in
a currency other
than
the lawful
currency of
the
Republic of
Argentina
which
i s
(a)
offered
exclusively
within
the
Republic
of
Argentine or
(b)
issued
in payment, exchange, subst i tut ion, discharge or replacement
of
indebtedness
payable .in the
lawful
currency of the
·Republic
o f
Argentine;
proyjded
that in
no
event
sha l l
the
following
indebtedness be deemed to const i tute Domestic
Foreign Currency Indebtedness : 1) Bonos Externos
de
la
Argentina
issued
under
Law
No.
19,686 enacted
on
June_15,
1972
and
(2)
any indebtedness issued by the
Republic in
exchange,
or
as replacement,
for
any
indebtedness
referred to
1)
above.
-
12. Default: ;
A cce l e ra t j on o f
Matu.,..ity.· I f any of
the following
events ( Events of
Default ) with
respect
to
the Secur i t ies of
any
Series occurs and i s continuing:
(a)
Non-Payment:
the Republic
fa i l s
to
pay
any
principal
of any
of the
Securi t ies
of
such
Series when
due
and
fa i l s
to
pay any
in te res t on
any
o f
the
Secur i t ies of
such
Series when
due and payable
and such
fa i lure continues for a
period
of 30 days;
or
b)
Breach
of
Other
Obligations: the Republic
does not perform or
comply
with any one or more o f i t s o t h e r
obligations in
the
Securi t ies
of such Series
or in
this
Agreement,
which
default i s incapable of remedy
or i s
not
remedied within 90
days a f t e r writ ten notice
of such default
sha l l
have
been
given
to the Republic
by the
Fiscal Agent;
or
(c)
Cross
Default :
any
event or condit ion
sha l l
occur
which resu l t s in the accelerat ion of the maturi ty
(other
than
by
optional
or
mandatory prepayment
or
redemption) of the
Securi t ies of any
other
Series or of any
17
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Public
External Indebtedness
of the
Republic having
an
aggregate
amount o
u.s . 30,000 ,000 or
more, or
any defaul t in the
payment
of pr incipal of, or premium
or
prepayment
charge
(if
any) or in teres t
on, the Secur i t i e s
o:
any other se r ies
or
any
such
Public
External Indebtedness
having an
aggregate
pr incipal amount of U.S. $30,000,000
or
more,
shal l occur when and as the same
shal l
become due and
payable,
i f
such
default
sha l l
continue
for
more
chan
the
period of
grace, i f any, or ig ina l ly
applicable
there to; or
d)
Moratorium:
a moratorium
on the payment
of
pr inc ipa l of,
or
in te res t on, the Public External
Indebtedness of
the Republic
shal l be declared by
the
Republic or;
e)
Validi ty:
the val id i ty of the Secur i t i e s of
such Series shal l
be
contested by the
Republic;
then the
holders
of not
l e ss
than
25 percent
in
aggregate
pr inc ipa l
amount
of the Securi t ies of such
Series
by
notice
in
wri t ing to
the
Republic
a t
the specif ied
off ice
of the
.Fiscal
Agent
sha l l .dec la re
the
pr incipal
amount
of
a l l
the
Secur i t ies of such Series to
be
due and payable immediately,
and, in the
case
of
a)
.and
d) above,
each holder of
Secur i t ies
of
such Series may
by
such notice in writ ing
declare the pr incipal amount
of
Secur i t ies
of
such
Series
held by i t
to
be due and
payable
immediately, and upon any
such
declarat ion
the
same sha l l become and
shal l
be
due
and
payable
upon
the date
that such writ ten
notice
i s
received
by the Republic unless pr ior
to
such date
a l l
Events
of Default
in respect
of a l l the Secur i t i e s
of
such Series shal l have
been
cured;
provlded tha t in
the case
of (b), d) and (e) above,
such event
is mater ial ly
prejudicia l to
the interests of the
holders
of
the
Securi t ies of such Series, and proyjded tha t i f
a t
any
time
a f t e r
the
principal
of the
Secur i t ies
of
such
Ser ies sha l l have been
so
declared due and payable, and
before any sale of
property
under
any judgment or decree
for
the
payment
of the monies due
shal l
have
been
obtained or
entered
as hereinaf ter provided, the
Republic sha l l pay
or
sha l l deposit
with
the Fiscal
Agent
a sum
suf f ic ien t to
pay
a l l matured amounts
of
in teres t and
pr incipal
upon
a l l
the
Securi t ies which shal l have become due and otherwise
than
sole ly
by
declarat ion (with in teres t on overdue amounts of
in teres t to the extent permitted by law,
and
on such
pr inc ipa l
of
each of the Securi t ies a t the
ra te
of in te res t
appl icable
thereto,
to
the
date of such
payment
or
deposit)
and
the
expenses of the Fiscal Agent, and reasonable
compensation
to
the
Fiscal
Agent,
i t s agents, legal
advisers ,
and
any
and a l l
defaul ts
under
the
Secur i t i e s
of
such Series , other than
the
non-payment of pr inc ipa l on the
lB
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Secur i t ies of such Series which sha l l have
become
due sole ly
y
declara t ion shal l have been remedied then and in every
such
case
the holders of 75 percent in aggregate principal
amount
of the
Secur i t ies
of
such Series then
outstanding
a f t e r
a
meeting of holders of Securi t ies
held
in
accordance
with the procedures described in Section
16
below by
wri t ten notice to
the
Republic a t
the
specified off ice
of
the
Fiscal
Agent
may
on
behalf of the
holders
of
a l l of
the
Secur i t ies
of such
Series waive a l l
defaul ts and
rescind
and
annul such declara t ion and i t s consequences: but no . such
waiver or
resc i ss ion and annulment
shal l extend to or
sha l l
affec t
any subsequent default
or
shal l
impair
any r ight
consequent thereon.
13. {a}
Liroi t
on
Liabi l j t y . In act ing
under
th i s Agreement the Fiscal Agent and any Paying Agent
are
acting so le ly as
agents of
the Republic and do not assume
any
obligat ion or re la t ionship of
agency
or
t rus t
for
or
with any of the holders of the Securi t ies , except tha t
a l l
funds held by the Fiscal Agent for payment of pr inc ipa l or
in teres t sha l l be held in t rus t , subject to the provisions
of
Section
6.
b) Acceptance
of
Appointment. The
Fiscal
Agent
and
each
Paying
Agent accepts i t s
obligations
se t
for th
in
or ar i s ing
under th i s
Agreement
the Paying Agency
Agreements
and the
Secur i t ies upon the
terms
and condit ions
hereof and thereof including the following
to a l l
of
which
the
Republic
agrees and to
a l l
of which the holders of
the
Secur i t ies shal l
be
i ) the Fiscal Agent may consult as to
legal
matters with lawyers se lected by i t ,
who
may be
employees of
or regular
independenc
counsel
to the
Republic
and the
Fiscal
Agent sha l l
oe protected
and
sha l l
incur
no
l i ab i l i ty
for
act ion
taken
or
suffered
to be taken
with
respect to such matters in good fa i th
and in
accordance
with
the opinion of such lawyers; and
i i ) the Fiscal
and
each Paying
Agent
and
the i r off icers , directors
and
employees may
become
the
holder of
or acquire any
in te res t
in
any
Secur i t ies ,
with the
same
r ights tha t i t
or
they would have i f t
were not
the Fiscal Agent
or
a
Paying
Agent hereunder
or they were
not
such off ice rs ,
directors or
employers
and may engage or be interested in any
f inancia l
or other
t ransact ion
with
the Reoublic and
may act
on or
as
depository t rustee or agent for ,
any
committee
or body
of holders of Securities
o r
other
obl iga t ions
of
the
Republic
as
freely
as
i f
i t
were
not
: ..9
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the Fiscal Agent or a Paying
Agent
hereunder or
were not
such off ice rs
directors, or employees. ·
14. Expenses and Indemnity. (a) In connection
with the Fiscal
Agent s appointment and
dut ies
as
Fiscal
Agent,
the
Republic wil l
pay
the Fiscal Agent compensation
agreed
upon by them. The
Republic wil l
indemnify the Fiscal
Agent and
each Paying
Agent
against
any
loss or
l i ab i l i ty
and agrees to
pay or reimburse
the Fiscal Agent
and
each
Paying Agent for any
reasonable
expense,
which
loss .
l i ab i l i t y
or reasonable
expense
may
be incurred by
the
Fiscal Agent or
any
Paying Agent by
reason
of, or in
connection with, the
Fiscal Agent s or
any Paying Agent s
appointment and duties as such, except as
such
resul t
from
the
negligence,
bad
fa i th or wilfu l misconduct of the Fiscal
Agent
or any Paying
Agent
or the i r
respective
directors ,
off icers employees or agents. In addit ion, the Republic
shal l pursuant to arrangements separately
agreed
upon by
the
Republic and the
Fiscal
Agent, t ransfe r to
the Fiscal
Agent,
upon presentat ion
of
substant ia t ing documentation
sa t i s fac tory to the
Republic,
amounts suff ic ien t to
reimburse the
Fiscal
Agent
for
certa in
out-of-pocket
expenses reasonably incurred
by
t and
by
any Paying Agent
in connection with the i r services. The
obligation
of the
Republic
under th is paragraph
shal l
survive
payment
of the
Secur i t ies
and
resignat ion
or removal
of the
Fiscal
Agent.
b) The Fiscal Agent and
each
Paying Agent
agrees
to indemnify
and hold
harmless the Republic
against a l l
direc t claims, act ions, demands, damages, costs, losses and
l i ab i l i t i e s
(excluding
consequential and
punit ive damages)
aris ing
out of or re la t ing to
the
bad fa i th or wilful
misconduct
of
the
Fiscal Agent
or any Paying Agent
or t he i r
respective
directors off icers
employees or agents.
15.
Successor Fiscal
Agent.
a) The
Republic
agrees
that
there
shal l a t a l l
times
be a
Fiscal Agent
hereunder, and
tha t
the Fiscal Agent sha l l be a bank or
t rus t
company
organized
and doing
business
under the laws of
the
United States of America or of the State of ew
York,
in
good
standing and
having a place of business
in the Borough
of Manhattan,
The i ty
of
ew York,
and
authorized under
such
laws
to exercise
corporate
t rus t
powers.
Any corporat ion
or bank
into which the Fiscal
Agent hereunder may
be
merged or converted,
or any
corporation
with which the
Fiscal
Agent may be consol idated,
any corporat ion
or
bank
resul t ing
from any merger,
conversion or
consolidation
to
which
the Fiscal Agent sha l l
se l l
or
otherwise
t ransfe r
a l l
or
substant ia l ly
a l l
o: the
corporate t rus t business of the
Agent,
provided
tha t
20
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t s h a l l be qua l i f i ed as
aforesa id ,
s h a l l be the successor
Fisca l
Agent
under t h i s
Agreement
without the execu t ion o r
f i l i n g
o f any paper
or
any fu r the r
ac t
on
the
par t
o f
any o£
the p a r t i e s here to , but
subjec t
to p r io r not i ce t o and the
p r i o r
approval
of
the Republ ic .
b) The
Fisca l
Agent
may
a t
any t ime
r es ign
by
giv ing wri t t en no t ice to the Republ ic of i t s re s igna t ion ,
speci fying
the date
on
which i t s
re s igna t ion
s h a l l become
e f fec t i v e which s h a l l not
be l e s s than 120
days a f t e r t he
da te on
which
such
not ice
i s given
unless the Republ ic
s h a l l
agree to
a
s h o r t e r per iod ; provided tha t
no such
not ice
sha l l expi re l e s s than 30
days
before o r
30 days
a f t e r
the
due
da te fo r
any
payment
of pr inc ipa l o r i n t e re s t in
respec t
of the
Se c u r i t i e s .
The
Republ ic may
remove the Fisca l Agent
a t
any t ime by giv ing wri t t en not i ce to the
Fisca l
Agent
speci fying
the date on which such removal sha l l become
e f fec t i v e . Such re s igna t ion
or
removal sh a l l only take
e f f ec t
upon
the
appointment by
the Republic
o f a successor
Fisca l
Agent
and
upon the
acceptance
o f
such appointment
by
such
successor
Fisca l
Agent.
Any
Paying
Agent
may
re s ign
o r
may
be
removed a t
any t ime
upon
l i k e
not ice ,
and the
Republ ic in any such case may appoint
i n subs t i tu t ion
the re fo r a new Paying
Agent o r Paying
Agents.
{c) The
appointment
of
the Fisca l Agent hereunder
sha l l
for thwi th terminate , whether o r
not not ice o f such
t e rminat ion
s h a l l have been
given,
i f
a t
any time
the
Fisca l
becomes incapab le of performing i t s dut ies hereunder ,
o r
i s adjudged
bankrupt
o r
i nso lven t , o r f i l e s a volun ta ry
p e t i t i o n on bankrup tcy o r
makes
an
assignment
for
the
bene f i t
of
ts c r e d i t o r s
o r consen ts to the appointment o f
a
l i q u i d a t o r
o r rece ive r of
a l l
or
any subs tan t i a l pa r t
o f i t s
o r admits in
wri t ing
i t s i n a b i l i t y to pay o r meet
i t s
debts
as they
mature
o r
suspends
payment
t he reof ,
o r
i f
a
re so lu t ion
i s
passed o r
an order made
for the
winding
up
o r
d i s so l u t i o n
of the Fisca l
Agent,
or
i f a
l i qu ida to r
o r
rece ive r
of
the Fi s c a l Agent o f a l l o r any subs tan t i a l p a r t
o f i t s
proper ty
i s appoin ted , o r
i f
any order of any cour t
s en te red
approving
any p e t i t i o n f i l ed by o r
agains t
t
under
the
prov i s ions o f any appl icable bankruptcy
o r
inso lvency law o r i any publ ic of f i ce r takes charge or
c o n t ro l o f the Fi s c a l Agent o r i t s proper ty or a f f a i r s
the purposes
of
r eh ab i l i t a t i o n , conserva t ion
or
l i q u id a t i o n .
d)
Pr i o r to
the
e f fec t ive
date
o f any such
re s igna t ion o r removal
of the Fisca l
Agent,
or
i f the F i s c a l
Agent sha l l
become
unable
to ac t
as such or sha l l
cease
co
be
q u a l i f i e d
as
a foresa id ,
the
Republ ic
sh a l l
appoint
a
successor Fisca l
Agent, qua l i f i ed as
a foresa id . Upon
t he
appointment
of
a successor
Fisca l
Agent and i t s accep tance
21
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of such appointment, the
ret1r1ng
Fiscal
Agent sha l l a :
the
direct ion of the
Republic and
upon
payment of ts
compensation and expenses then unpaid, del iver and pay
to i t s
successor
any and
a l l
secur i t i e s money and any
o:her
proper t ies then in i t s possession
as Fiscal
Agent and sha l l
thereupon cease to act
hereunder.
Any
successor Fiscal
Agent
appointed hereunder
sha l l
execute,
acknowledge and
del iver
to
t s
predecessor
and to the
Republic
an
instrument
accepting
such appointment
hereunder , and thereupon such successor
without
any fur ther
ac t
deed
or conveyance, shal l become vested with a l l the
author i ty r igh ts
powers,
t rus t s immunities, duties and
obligat ions of
such
predecessor,
with
l ike effec t as
i f
or ig inal ly
named
Fiscal Agent hereunder.
(e) I f
the
Fiscal
Agent resigns or ceases to ac t
as the Republic 's f iscal agent in respect of
the
Secur i t ies
pursuant
to
Section lS(c)
of th i s Agreement, the Fiscal
Agent shal l
only
be
ent i t led to annual
fees otherwise
payable to t under th is Agreement on
a
pro ra ta basis
for
tha t
period since
the
most
recent
anniversary
of
th is
Agreement during which the Fiscal Agent has acted as
f i sca l
agent
hereunder. In the event tha t
the Fiscal
Agent ceases
to ac t as the Republic 's f isca l
agent
in respect of the
Secur i t i e s for any
other reason, the
Fiscal
Agent
sha l l be
en t i t l ed to receive the fu l l amount
of
the annual fees
payable
to
i t in
respect of the Secur i t ies pursuant to
Section 14 of th i s Agreement.
16. Meet ings qf Holders of
Modificat jons.
{a A meeting of regis tered holders of
Secur i t i e s of any Series may
be cal led
a t
any time and from
time to time to make,
give take ny
request ,
demand,
author iza t ion, direc t ion,
notice,
consent, waiver or
other
ac t ion provided
y
th is Agreement or the Secur i t ies of any
Ser ies
to be made, given
or
taken by regis tered holders of
Secur i t i e s of any Series
or
to modify, amend or supplement
· the terms of the Secur i t ies of any Series
or
th i s Agreement
as
hereinafter provided. The
Fiscal Agent
may
a t any t ime
ca l l a
meeting
of
regis tered
holders of
Secur i t ies of any
Series
for
any
such purpose to be held at
such time
and
a t
such
place as
the Fiscal Agent
sha l l determine. Notice of
every
meeting
of
regis tered
holders of Secur i t ies
of
any
Series
se t t ing
forth the time and
the
place
of
such
meeting
and in general
terms
the act ion proposed to
be
taken
a t
meeting,
shal l
be given as provided in the terms of the
Secur i t i e s of any
Series ,
not less than 30
nor
more than 60
days
pr ior
to the date fixed for the meeting.
In
case a t
any
t ime the Republic
or
the
regis tered
holders
of
a t
l ea s t
10 in aggregate
principal
amount of
the
Outstanding
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Securi t ies
of
any Series as defined
in
subsection
{d) of
th i s Section) sha l l have requested the
Fiscal
Agent to cal l
a meeting of
the
regis tered holders of Secur i t ies of any
Series for
any
such purpose,
by
wri t ten request se t t ing
for th in reasonable
deta i l the
action proposed to be
taken
a t the meeting,
the
Fiscal
Agent shal l ca l l
such
meeting
for
such purposes
by
giving
notice thereof.
To be ent i t l ed to vote a t any meeting of
regis tered holders
of Secur i t ies of any Series , a
person
shal l
be a regis tered holder of Outstanding
Securi t ies
of
any Series or a person
duly
appointed by an instrument
in
writing
as
proxy for such a
holder.
Any person
appointed
by
an instrument in writing
as
proxy for
a regis tered
holder
need
not be
a regis tered
holder
of Outstanding
Secur i t i e s
of
any Series . At any meeting each
registered holder shal l be
ent i t l ed to one vote for each of those amounts held by
such
holder which represent the lowest
denomination in
which
Secur i t ies of such
Series
as to
which such
holder
i s
a
holder
may
be t ransferred.
The persons ent i t led to
vote
a
majority
in pr incipal
amount
of·
the
Outstanding
Secur i t i e s
of any
Series
sha l l const i tute a
quorum. At
the reconvening
of any meeting adjourned for a
lack
of a quorum, the persons
ent i t l ed to
vote
in principal amount of the
Outstanding
Secur i t ies
of any Series sha l l
const i tute a quorum
for
the
taking of any action set
for th in
the notice of the or ig ina l
meeting. The
Fiscal
Agent
may make
such
reasonable and
customary regulations as t
shal l
deem advisable
for
any
meeting of regis tered holders
of
Securi t ies of
any
Series
with respect t the appointment of proxies in respect of
regis te red holders of Secur i t ies ,
the
record date
for
determining the
regis tered holders
of
Secur i t ies
who are
ent i t l ed to vote a t such meeting which date shal l be se t
for th
in
the not ice ca l l ing
such meeting
re fe r red
to
and which sha l l
be
not less than 30 nor more
than
90
days
pr ior
to
such meeting,
the
adjournment and
chairmanship
of such
meeting) the appointment
and
dut ies of
inspectors
of votes, the
submission
and
examination
of
proxies, cer t i f ica tes
and
other evidence
of
the r ight to
vote, and
such other
matters concerning
the conduct of
the
meeting
as
t
shal l
deem
appropriate .
(b) i) At any meeting
of
holders of
Secur i t ies
of a
Series duly cal led and
held as
spec i f ied
above, upon
the
affirmative in
person
or by proxy
thereunto duly authorized in writing,
of the
regis tered
holders of not l e ss than 66 2/3 in aggregate pr inc ipa l
.amount
of
the Secur i t ies
of
any Series then Outstanding or
of
such other
percentage as may be
se t
forth in the
Securi t ies
of
any
Series
with
respect
to
the
act ion
being
taken), or
i i )
with the written consent of the owners of
23
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not le ss than 66 in aggregate principal amount of the
Secur i t ies of any
Series
chen Outstanding or
of
such other
percentage as may be
se t
forth in the text
of
the
of
any
Series
with respect
to
the
action being taken) ,
the
Republic
and the Fiscal Agent may-modify,
amend or
supplement
the
terms
of the Secur i t ies of
any
Series or th i s
Agreement,
in any
way,
and
the
regis te red holders of
Secur i t ies
of
any
Series may
make,
take or
give
any
request ,
demand, authorization,
direction, notice,
consent, waiver or
other action provided by
this
Agreement or
the
Secur i t ies
of
any
Series
to be
made, given, or taken
by regis tered holders
of Secur i t ies of any Series; proyided, hoWeyer,
tha t
no such
action may, without the consent of the
registered
holder
of
each Security of such Series, A) change the due date for
--·-------r.ne
payment of the principal
of
or premium, i f
any,
) or any
instal lment of in te res t on any Securi ty of such Series ,
BJ
reduce
the principal
amount
of any Securi ty of such
Series ,
the portion of such principal amount
which i s
payable upon
accelerat ion of the
maturity
of such
Securi ty,
the in te res t
ra te thereon
or
the premium payable upon redemption thereof ,
C) change
the
coin
currency
in
which
or
the
required
places
a t
which
payment
with
respect
to
in teres t ,
premium
or
principal in respect of Secur i t ies of such
Series
i s
payable, {D amend the def ini t ion of Redemption Event in the
Secur i t ies
of
such Series
or
the procedures provided
therefore, E) shorten
the period during
which
the
Republic
is
not permitted
to
redeem the Secur i t ies of
such Ser ies i f ,
prior
to such action, the Republic
is
not
permitted
to
do
so, F) reduce
the proportion of the principal
amount of
Securities
of
such Series the.vote
or
consent of
the
holders
of
which
is
necessary to modify,
amend or
supplement th i s
Agreement or
the
terms
and
condit ions of the Secur i t ies of
such
Series or . to make, take or
give
any
request, demand,
authorization, direction,
notice,
consent, waiver or other
act ion
provided hereby or thereby
to be
made,
taken
or
given,
or
Gl
change
the
obligation of
the
Republic
to
pay
addit ional amounts.
The Fiscal
Agent
and
the
Republic may agree,
without the
consent of
the
regis tered holders
of
secu r i t i e s
of
any Series, to
i)
any modification of any provisions
of
the Fiscal
Agency Agreement which i s
of a formal,
minor
or
technical nature
or is made
to
correct a
manifest error
and
i i ) any
other
modif ication
except
as mentioned in th i s
Agreement), and any waiver
or authorization
of any breach
or
proposed breach,
of any of
the
provisions of th i s Agreement
which i s in the
opinion
of the
Fiscal
Agent not mater ia l ly
pre judic ia l to the
interests
of
the
regis tered holders of
Securi t ies . Any such modification, authorization or waiver
sha l l
be
binding
on
the
regis tered
holders
of
Secur i t i e s
of
any
Series
and,
i f
the Fiscal
Agent so
requires, such
24
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modif ication
shal l
be notif ied t o
the registered
a=
Secur i t ies of any Series
as
soon as practicable.
t sha l l not be necessary for the vote or
of the regis tered holders of the Secur i t ies of any Series to
approve
the
par t icu la r
form
of any
proposed
modi ication,
amendment,
supplemenc,
request ,
demand
authorization,
direct ion,
not ice ,
consent, waiver or other act ion, but
shal l
be suff ic ien t i f such
vote or
consent
shal l approve
the substance
thereof.
(c) Any instrument given
by
or on behalf of any
regis tered
holder of
a
Security in
connection
with any
vote
for
any such
modification,
amendment,
supplement, - request , demand authorizat ion, direct ion ,
notice,
consent, waiver
or
other action will be irrevocable
once
given and wil l
be
conclusive and binding on a l l
subsequent regis tered
holders of
such
Securi ty
or
any
Securi ty issued di rec t ly
or
ind i rec t ly in exchange or
subst i tut ion therefor or in l ieu thereof.
Any
such
modification,
amendment,
supplement, request ,
demand
authorization,
direct ion,
notice,
consent,
waiver
or
other
action with respect to the
Securities of
a Series will be
conclusive and binding on a l l regis tered holders
of
Securities of such
Series,
whether or
not
they
have
given
such consent
or
cast such vote, and whether or
not notat ion
of such modif ication, amendment,
supplement,
request ,
demand authorization, direct ion, notice, consent, waiver r
other
action
is
made
upon the Secur i t ies
of
such Series.
Notice of any modif ication
or
amendment or, supplement to,
or
request ,
demand,
authorizat ion, direct ion, notice,
consent, waiver
or
other act ion with respect to the
Secur i t ies of such
Series
or
this
Agreemen: than for
purposes of
curing any
ambiguity or
of curing, or
supplementing any defect ive provision hereof or thereof)
shal l
be
given
to
each
regis tered
of
Secur i t ies
of
such Ser i e s in
a l l
cases as provided
in the
Secur i t ies
of
such Series .
Secur i t ies of any Series authenticated and
delivered a f t e r the effectiveness
of any
such
modification.
amendment
supplement,
request , demand
authorizat ion,
direct ion ,
notice ,
consent, waiver
or act ion
with
respect
to
such Series may bear a notation in
the form
approved by the Fiscal Agent
and
the Republic
as
to any
matter provided for
in such
modification, amendment
supplement, request , demand authorizat ion, direction,
notice,
consent,
waiver or
other
action.
New
Secur i t ies
modified
to conform, in the opinion
of
the Fiscal Agent
and
the
Republic,
to
any
such
modification,
amendment
supplement, request , demand, authorizat ion, direction,
5
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notice, consent,
waiver or
other
action m y
be prepared
by
the Republic, authenticated
by
the Fiscal
Agent (or
any
authenticating agent appointed
to
Section 3 hereof)
and
delivered in exchange for Outstanding
Secur i t ies
of
ny
d)
For
purposes of
the provisions
of
th is
Agreement and the Secur i t ies of any Series, any Security
authenticated and delivered pursuant to
this
Agreement
sha l l , as
of any
date of determination, be
deemed to
be
uoutstanding",
except:
(i) Secur i t ies of any Series theretofore
cancelled-by-the Fiscal Agent or delivered to the
Fiscal Agent--f-or cancellat ion
or
held
by
the
Fiscal
Agent
for
reissuance
but
not reissued by the
Fiscal
Agent; or
i i ) Secur i t ies of any
Series
which
have
become
due and payable a t
maturity
or
otherwise and with
respect to which monies suff ic ien t to pay the principal
thereof,
premium,
i f
any, and any
interest
thereon
sha l l have
been
made available to
the
Fiscal Agent;
prqyided, however,
tha t
in determining whether the
regis tered
holders
of
the
requis i te principal amount of
Outstanding
Secur i t ies of any Series
are
present
a t
a
meeting of regis tered
holders
of Secur i t ies for quorum
purposes or have consented
to
or voted
in favor
of any
demand, authorization, direction, notice, consent,
waiver, amendment,
modif ication
or supplement hereunder,
Secur i t ies of any Series
owned
direc t ly
or
ind i rec t ly
by
the
Republic shal l be disregarded
and
deemed not to
be
Outstanding.
17.
Eurrhe.,..
Issues.
The
Republic
may
from
time
to time, without notice to or the consent of the regis te red
holders
of
the
Secur i t ies
of
a Series,
create and
issue
fur ther
securi t ies ranking
passu with the
Securi t ies
of
such Series in
a l l
respects (or in
a l l
respects except for
the
of
in teres t
accruing
prior to
the issue
date of
such
secur i t i e s
or except
for the
f i r s t payment
of
in teres t following the issue date
of
such
fur ther
secur i t ies) and so tha t such
fur ther
secur i t ies shal l be
consolidated and form a single
se r ies
with the
Securi t ies
of
such
Series
and sha l l have
the same
terms as
or
otherwise as
the Secur i t ies .
18. ReDorts. a) The Fiscal Agent.
sha l l
:urnish
to the
Republic such
reports
as
may
be
required
by
the
Republic
re la t ive
to the Fiscal Agent's
performance
under
26
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th i s Agreement. The Republic may, whenever t deems
necessary,
inspect
books and records
maintained by
Fiscal Agent pursuant co th i s Agreement,
i f
any.
b}
The Fiscal
Agent sha l l on behalf
o:
the
Holders)
submit such
reports
or information as may be
required from t ime to time in re la t ion
to
the issue
and
purchase
of
Secur i t ies
by
applicable
law,
regulations
and
guidelines promulgated
by
the United States
government.
c) The Republic covenants to
not i fy
the
Fiscal
Agent in immediately on becoming aware of any
Event
of
Default or any event or circumstance which
could
the
giving
of notice or
lapse
of
time
become
an Event of
Default
(a
Potent ia l
Event-of-neraul t ) .
d) The Republic wil l
send to
the Fiscal
Agent,
on or
before
December 31 in each year (beginning with
December
31, 1994),
and
within 14
days
af ter
any writ ten
not ice
by the Fiscal Agent, a cer t i f ica te of the Republic
signed
by a duly
authorized off ic ia l
of the Republic to the
ef fec t tha t
having
made
a l l
reasonable
inquir ies ,
to the
best knowledge of such
duly authorized
of f i c ia l
no Event
of
Default
or Potent ia l
Event of Default has
occurred and
s
continuing
on
the
date
of such
cer t i f ica te
or, i f
an
Event
of
Default or a Potent ia l Event
of
Default
has
occurred, the
circumstances surrounding i t and the
steps that the Republic
has taken
or
proposes to take to remedy i t .
e)
The
Republic send to the Fiscal Agenc as
soon
as pract icable a f t e r being so requested by the
Fiscal
Agent a ce r t i f i ca t e of the Republic, signed by a duly
authorized of f i c i a l of the Republic
sta t ing
the aggregate
pr inc ipa l amount of
the Secur i t ies held
by or on behalf of
the Republic
a t
the
date of such
cer t i f ica te .
19. Forwarding qf Nqtice · Inquiries. a) I f the
Fiscal
Agent
shal l receive
any
notice or demand addressed to
the
Republic pursuant
to the
provisions
of
Secur i t i e s
the
Fiscal
Agent sha l l
promptly
forward such notice
or
demand to the
Republic.
b)
The
Fiscal Agent sha l l respond
promptly
to
any
inquir ies received from any registered holder of
Securi t ies regarding the matters
covered
by paragraphs
(bl ,
(c) or
(d)
of Section 18 of th i s Agreement.
20. Ljst inas . In the event the terms of the
Secur i t i e s
of
any
Series provide
for
a l i s t ing on any
scock
exchange,
the
Republic
agrees
to
use a l l
reasonable
endeavors
to
maintain the l i s t ing of the Securities on such
27
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exchange. I f however, i t i s
unable
to do so,
having used
such endeavors, r
i f
the maintenance of
such
l i s t ing i s
agreed by the Fiscal Agent to be unduly
onerous
and the
Fiscal Agent i s sa t i s f ied that the in terests of regis tered
holders of the
Securi t ies
would
not
thereby be
material ly
prejudiced, t
wil l
instead use a l l
reasonable
endeavors to
obta in and
maintain a
l i s t ing
of
the Secur i t ies on such
other
stock exchange
or
exchanges as t
may decide.
21. Notices. a)
Any
communications from
the
Republic to
the
Fiscal
Agent ·with respect
to th is
Agreement
shal l
be addressed to Bankers Trust Company, 4
Albany
Stree t New York, New York 10006, Fax No.: 212-250-6961 or
212-250-6392,
Tel.
No.:
212-250-6571 and any communications
from the Fiscal
Agent
to
the
Republic
with
respect to
th i s
Agreement shal l
be
addressed-r:o-the Subsecretaria de
Financiamiento, Hipoli to Piso 10 - Oficina
1001, 1310 - Buenos
Aires,
Attention; Deuda Externa, Fax
No.:
011-54-1-349-6080 Tel. No.:
011-541-349-6242 or such
other
address as shal l
be
specif ied in writ ing
by the
Fiscal
Agent
or by the Republic, as the case may be) and
shal l
be
del ivered .in person or sent
by
f i r s t class
prepaid
post or
by
facsimile t ransmission subject ,
in
the
case
of
facsimile
transmission, to confirmation by telephone to the foregoing
addresses. Such notice shal l take effec t in the case of
del ivery in person,
at the time of delivery
1
in the case
of
del ivery by
f i r s t class
prepaid
post seven
7) business days
af te r
dispatch
and in the case of
delivery
by facsimile
transmission, the time of confirmation by telephone.
b) All
notices
to the registered of
Secur i t i es of a Series wil l
be
published in
such
publica t ions a t such locations as any
of the Securi t ies
of
such Series are
l i s t ed
for
the
period of t im
of
such
l i s t ing and as otherwise provided pursuant
to
the terms
of
the Secur i t i es of such Ser ies . I f at any time publica t ion
in
any
such
publica t ion
i s
not
practicable,
notices
wil l
be
val id
i f
published
in
an English language newspaper with
general ci rcu la t ion
in
the respective
market
regions
as the
Republic with
the approval
of the
Fiscal
Agent,
shal l
determine.
In.addition , notices will be published in
Spanish in a newspaper of
general circulat ion
in Argentina,
as the
Republic shal l determine.)
Any
such notice
sha l l
be
deemed
to
have been given on the date of such
or,
i f
published more than once
or
on different
dates,
on
the f i r s t date on which is made. Written not ice
wil l also be given
to
the
Depositary, i f a t the time of such
notice any of
the
Securi t ies is
represented by
a Global
secur i ty .
28
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22. Consent to Service ·
Ju r i sd j c t j o n .
The
Republic hereby
appoints
Banco de la Nacion
Argentina, a t
i t s
off ice
located at 299
Park
Avenue,
New
York,
New York
10171,
and, i f such
person
s not
maintained
by
the Republic
as
i t s
agent
for such
purpose, the Republic wil l
appoint
T
Corporation System
to
ac t as i t s agent for
such purpose)
as
i t s authorized agent the AUthorized Agent. ) upon whom
process may
be
served in
any action
aris ing
out of or
based
on
the
Securi t ies
or
th i s Agreement
by
the holder
of
any
Secur i ty which may be
ins t i tu ted
in any s ta te or
federal
court
in The City of New York,
and expressly
accepts
the
ju r isd ic t ion of any such court in
respect
of such action.
Such
appointment
shal l
be
i rrevocable unt i l a l l amounts
in
respect of the principal of and any in teres t
due and
to
become due on or in
respect of a l l the
Securi t ies have been
provided to the Fiscal Agent pursuant-to-the terms hereof,
except
tha t
i f for
any
reason, such
Autlrorized
Agent
ceases
to be able
to act
as Authorized Agent or to
have an address
in the Borough of Manhattan, The City of New
York,
the
Republic wil l appoint
another person .in the
Borough of
Manhattan, The
City
of
New York,
se lec ted
in
i t s
disc re t ion
as such Authorized Agent. Prior to the date of issuance of
any
Secur i t i e s
hereunder,
the
Republic
shal l
obtain the
consent
of Banco
de la Naci6n Argentina
to i t s
appointment
as
such
Authorized Agent, a copy
of which acceptance t
shal l provide to
the
Fiscal
Agent. The
Republic
shal l
take
any
and a l l action,
including the f i l ing of
any
and a l l
documents
and
instruments,
tha t
may
be
necessary to
continue
such appointment or appointments in fu l l force and effec t
as
aforesaid. Upon receipt of such service of
process,
the
Authorized
Agent shal l advise the Subministry of Finance
promptly·by te lecopier a t 011-54-1-349-6080.
Service
of
process
upon the
Authorized
Agent a t
the address
indica ted
above,
as such
address may·be changed within the Borough
of
Manhattan, The City of
New
York
by
notice given by
the
Authorized
Agent to each party hereto, shal l
be
deemed, in
every
respect,
effect ive
service
of
process
upon
the
Republic. The Republic hereby i rrevocably and
uncondit ionally waives, to
the
fu l les t extent permitted by
law, any objection which t may now or hereafter have.
to
the
laying of
venue
of any act ion
ar i s ing out of
or
in
connection with
th is
Agreement brought in any such
court
has
been brought in
an
inconvenient forum. Neither such
appointment
nor
such
acceptance
of jur isdic t ion shal l be
interpre ted to include actions brought under the United
States
federa l
secur i t ies laws. This appointment and
acceptance of ju r isd ic t ion
i s
intended to
be
effect ive upon
execut ion of th i s agreement without any fur ther
act
by
the
Republic
before any such court and
introduction
of a
t rue
copy of
th is
Agreement in to
evidence
shal l be conclusive and
f ina l
evidence
of
such waiver.
9
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Notwithstanding the foregoing, any action ar is ing
out of
or
based on the Securi t ies m y be ins t i tu ted
by
the
holder of any Security in
any
competent
court
in the
Republic
of
Argentina.
The
Republic hereby irrevocably waives and
agrees
not
to
plead
any
immunity
from
the
jur i sd ic t ion
any such
court
to which i t might otherwise be ent i t l ed in any
action
ar is ing out of
or based
on
the
Securit ies
or
th is Agreement
y the holder of any Security.
23.
Goyerning Law
and
Counterparts. This
Agreement
shal l be
governed
by, and interpreted
in
accordance with, the laws of the
York. This
Agreement may be executed in any number of COunterparts,
each of which
shal l
be deemed
an
original , but
l l
of which
together
shal l consti tute one and the same instrument.
24.
Heacljngs. The headings for the sect ions of
th is
Agreement are
for convenience only
and are
not part of
th is
Agreement.
30
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IN
WITNESS
WHEREOF
the part ies hereto have
executed th is Fiscal Agency Agreement as
of
the
date
f i r sc
above wri t ten
THE REPUBLIC OF ARGENTINA
By:
I s
Noem i LaGreca
Name: Noemi
LaGreca
Tit le :
Financial
Representative
of
Argentina in the
Uni
ted StCI:t es
BANKERS TRUST COMPANY
By:
s
Wanda
Camacho
Name: Wanda Camacho
Ti t le :
Assis tant
Secretary
31
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(JPora ot h o e
t
Security)
( I f tbt Stqur i tX p I qlob t l l l tcprlty. Jne t r t I lgot)d
r t lat inq to
Hwtq t fQM q l
t b l t n n p f t n b i l i t y qt IUgh
qlob t l
$tc;Vrlty
in mota
fOrw
• • MY
be
r tqpfres t
by;
thw u.s.
J)lpgait:nr,x.]
[INSJ Rl'
ANY
LIG ND(SJ
Rl XlOIUD
BY 1 U InEIUW.
lUW lftJX
m JUU»>OSLXC OJ u c m c t D ( A
[1'i t le t B e r i u
SllOUl iti
xo.
a-
__
l o u .
Pricer
original I•aua Dates
K turi ty
.Dattk:
currency t Dencm1Mtion:
Option to
P.ayw.ent•
in specit im currencyr
Denoaination.:
l'Ol:lll
Ini t ial I.ntereat
.Payaent Data:
:tntereat
btat
lntereat Rat• l taHt
{Prinoipal
.b.ount]
o
( ) . ID t cu t Rata aay not
be
prier to
Maturity Ditta.
ARG0035
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OptionallZ.aMt
D a t u
.(lt appl ic&bl•) :
In tu l la t Payxsant Datu:
Optional Extauion t
Maturity Data:
:r inal Matur i ty:
'fot:al ADaunt ot
om:
Yield to
nsitial Accrual Period om:
.Optional l tednpt.ion:
_ _ _ u
_ 110
aa
- - - ' R o
Optional
Radaapt:ian
Date•
r
appl ia b l •
• •
s
ribed
abovw,
Re4eapticm
Price
&ball
i n i t i a l l y
t
of tha
principal UOWlt of
thi1 Security to be redeat4 ud. ahall decline at qcm
anniverury ot
the
Ini t ia l •edeaption
Dat•
by
t ot
the
pr nc pal uount.
to
be
radUI ed
until
the
:Rednption Price is
lOOt
o
auch prfnc;:ipal
a.ount;
hotl•var t:hat
i t
t h U Security
i •
• Dt.caunt
Jlote. u def ined belov), the
bdeupt:icm
Price ahal l be
tha Face
ADoUnt u
defina4 belov). of this
Rote.
opt ional
Jl.apapenb
___
Yu
No
Optional :RapaYJaent Datu :
Optional R8payment PriouJ
convaraion into or
xcha119•
for
Otbar Seauri t ie l
c ft11 security u y not be
ocmvert:Ad in to or
uc:hanqacl tol ' other
ucur1t1u.
< J mi• seourity
say
tMl
convatted
in to or
ARG 0036
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1 erJMJ
o
comtaraion
01: xoblnq8
i f applicable)
•xebanqacl
tor
{ •.cur-'T'I't tlr-•-• ' J
-
.
-
1 M lfo
In4on4 Jlotel
tyohll119• Rau
Agent•
other
1'eru
1
A J
ARG0037
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1 d B PUM.IC
(herein
called t b a
lfllapUblic•), for v . lua
:•a. ive4,
par to
r ragJ.,.tarad
ad.i.gna, the principal I UII t u.s .
Dollan (V.S.$
) [oth.r
currency]
on
[ f
t h • StclltitV
le i j iblg;
intGcwt prior r.o
1nwnrt;-,
and
· to pay intenat
th.reon froa
or
troa the .oat
raoent
: tnt nat
PAYMJlt Data to vnlcb
fnteres't
Ula
bUD pa14
or ctuly for,
in
arrears an .
[&1\11
1
in aacb
yaar,
couenai119 (e tch an '*Interest Payment Data•),
at
the
ra te [ot t
per &nnUJI] [ t o M det.tndnad
in
v1tl i tha
pz:ovi11ion•
herein&ttar
••t forth)# unti l
the principal bonot ia
paid or
uda
av.ailabl•
for papen t .
The i n t . r u t so
payabla,
and punctual ly paid
or duly
providttd
:.n
anr hyaen t Dat . v i l l aa
in
the :riacal
A9aJU:Y
t hor•inaft:er
nfarr t td
to,
paid to tha
parson
( tha • reg ia tend Bolder") in 'WhOM na11e
thi• sacurity
(ar
o:M or more prmeotac: securitia•J i •
in tha
of
auch
S1cw:i t iu
uin ta ined
purauant
to tha Piaccl A;enc:y a t the
ot
bUinu• on
the
(wether
oa:-
not a bUJ.noa•
day) l
tha
c p aay bo] ( l&ch
a
•JtetJUlar Ra®rc1 Date
)
{ ,
aalon<Sax daya]
next
pr.cl l4inq auch rnt.eraat Pe.YJ:lllnt Dll-t _•_T_
ptpyld•f2·,
bp ft3W:,
that
the
f i ra t
pa)'Mnt
t
intareat en any
s•curity originally iaaued
an a data a Regulcr
Reeor4 Date 4ll(1 on J:nte.-ut Pay»ent Date or on
on
:Interest
Payasnt
Data
vl l l
be DAde on th• ln teraat t• r-•nt Dat•
roucnrtng tba n.xt auocaading RatJular bcord Datv: to
the
.
Holder
on
sueh naxt auccudinq
Reczul•r
Data. ny
tueb
i r . teHit
not
ao pa14 or duly
provide<1
to r
wil l rcr thvi th
ouaa
to be payable to tho
Holder
on
such.
Baqular
llaccrcl Oata and
DaY eithor
be
p&id to
tha peraon in vboaa
nut
thu Security one or
mora predecessor sacuritie•) i s at
t ha
clo•• t
bUain•••
on
a
1pt1cial
racord date
for t he or
•uch
int . rca. t to b. - t lxad by
the
ltepUblic, notice
vhe.r•o &hall
be to
reqi*tared
H-olders
t saouritiaa
t
t h i s
series
not leas
than
10
d.ay•
prior
to
eueh
apecial record
do.to,
or
ba paid at any t i n in
•ny
othtr
lavtul II•UU11ar
1
not
ir.conaistent: vi h the
raquireDenu of
any aec:\U
ties.
ex-c:Mn11• on
which the
Seeurit.l•• or
thia
H:r iu JUt.Y
l i iUd
and. upon
•ucb
notic:•
as aay required by
such
axcbanqe.] ·
[Insert in ter . . t rate provision•, i t
applicable.]
·
Clt
tllt 6tt;UX1ty 1• not to btor intare•e pr io r to
J ' ltuxttv, l i iuii-- (t.b• "Stated
MAturity•)
•
'l'ha pr incipal
t
A-4
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th1a
aacurity
shal l · DOt b u r
in taru t axcapt
in
the ca•a ot
a det&ult 1n papat
o f
priDGip&l upcm
Acceleration,
upon
or at stated lfatur1tr·l
Principal of
Cand
pra iu . ,
lt any, on) (mid
int:ereat paf.&bl• a t ur r 0: upon earller redaption
or
npayua t ot) • a.curity aball be payable in
1•eAf.ataly available lUnd• agaidt aurrandar
haraot
a t the
oozporata
t rus t
ottU e
of tha
Fi•eal Agent hereinafter
re ternd
to
and a t th8 office. ot wC:h other
ltayinq
.l;ant.
l \S
tJw
Republic lha l l have
appointed
put I I \Wlt to
the Fiacal
Aquay Aqreeunt .
Payunta
of
prbx:ipal or
(&M
praiu:s,
any[, DD)) [ancl in tu . l t . on]
W •
taauri ty .aball bo
:uda
in
SIUM-4&1
in
acc:oJ:danc•
v i th tha •nd aUbjeet
to
appl cable l aw
aJX1
regul .at oa, by [ ( i f the
Rapulllic
so
electal
tramater to aD account denoaJ.Mted
in
u.s. dollara
.which
• .ntatnecl
by pay vi th
{any] (a)
banJt
[loc:.tad 1n }· I t tha bpubUc d a u not
so
•leot, papanta o
prlua
pal
(and praiUJI, U any) lha l l be
aade
•vrrandu- of th i• Security
{
iC
appUeoblft
i nao r t - , and papantll
of
i n tua l t
ahall
be :uda,J by]
fonlardilsg' by poat ar otharv1•• de l iveriDq a ch*dt [on or
))etOZ e
tbe dU•
cSate fo r
IIUCh
pa) JDtnt] to
the
reg1rtored
ac cSreaa
a t
the
regiatared Holder of tbia s.c\U"ity. [ l l .
agpliC §hlo. i n u r t R'Din t
prpylwlono
tor
hquri t ; ieg
dwnpptnatc4'in
a
t b tn
u.s.
dglf•raJ.
Securit.y i s a c l ino t obl gat on
of the
a
and
doe• not
have tba
benefi t of
any
•e'p&rata
uncttrtaltinc.1 ot
other
g¢vunao.nt
ent i t iea
(inclUdlnt; k n c o
Cantnl)
• Tbe Republic
covenants tha t
until al l uount• in
rupect
ot
tha principal
and
interaat
due
and to
l>tlcc.a
due on
or 1n th ia
Sacuri ty bave bean paid aa provi.s.4
herain
in the ' i ac . l
A;aucy Aqreuent , it v i l l a t a l l
ti . maint:a.in
otricaa or
agenole1
in the
Borough ot lfanhltun, city law York
tor the p } ' lMnt of the princ:ipal o t (and
p.reaiw:1,
i f any[,
on)) (and on] S.ouri t i • • &II herein·
Rate-ana• ia hereby JIAda to the
turthar
proviaionJJ ot
thi• security
aat forth
on the
r •v . rn
har·•of, Vhich turth•r
prov1aicna ahall far
a l l
purpoaes hava tb•
same
effect as i f
ut
forth
a t t b l l
placa.
unlaaa
tba
cart1fie&ta cr Authent1c&t1on
hereon
baa
bHn ancuted ))y th. ri•oal lqe.nt by manual
aiqnatura,
thia
security •hall not
valid or
obli;atory
for
any
purpoaa.
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l l
wnmt9S the· :aapubUe
h u eauaed
tilt
J.nat:rmaant:
to
_be
Dated
BY
______
{1'1thJ
rltiaJ
Dlt. of
Authantic•tion:
l hi•
i s one t the Sea=.ritie• t th• . r i ••
ilesi9J1 ted
th . ratn
ftt en:CKf t o
in
tha
vithin . . .ntion.S 7.Saeal
Agency
Agre nt.
UWYQS '.r1lt.tn' COMPANY
• • rlac:al
A-6
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{l'Onl
of
r.v.uaa
ot
Security)
'l' lia ia
OM
ot
a
dulf authorized
i•sue o
HCUt"itie. o t
tha Jlapu )l.ia
called th • •s .aur i t t
)
isaued
and
to
b.a
iaw.cl
in one or aon
•-=1••
1n
vi th a fillcal Af1 ncy &9reu.nt, dated u of
bua in
ca l lN
tM
•PJ.IICIIl Aqr..aent•,T")-, rbe--: twe: : --n
tJle
bp\l):)lio and Bankarl
cc:.puy,
••
71acal Agent
(hat-oin
called the •ri .callglnt•) , Wlch tara include• aey
.uccNaor
f iacal
aqent
UD4ar
tha
l ' acal
Aqe.ncy
Aqretl lHnt),
copiu
ot vhiah J'iiiC&l
Ag1:'eU.Gnt ra
on
f i le and
avail.abl• to::
&t
the t ru • t ot t ice or
the Fiac.al
Agent in
the
Borough
of Kulh.lt tan, TM City t
Sev
York.
lfhia
Security
ia
ona
of tha
S&curiti
of the
s.ri••
de•19J1ate4 on th•
tac .
her.af( ,
lW t ed
in
avgr.qate
pt'im::ipal utNnt to u.s.. ]. 'rba r i •ca l ArJency
J.9rHUnt uy
uendlld.
tro• t1H to t b a in
accordanea
with the t e ru
thereof.
The
Securit1e•
vUl c::onatibau the
direct ,
unconditional,
unsecured and unaUbordinated
obli9ation• or·
the R•pul3Uc.
Each
.Sui••
vi l l nnJc R U1 pogau vi th aacb
other
Seri
without any
ona over
th• other by
reaaon of priorJ,ty
ot
date
ot
1•.ua
or cun-anc:y
ot
paymant
or otberwiM,
and
at l n a t a l l
other
present
am
tut\11"• wwac:ured and u.nwbo tad. bttarnal
Indabtadnat• (aa detinad J.n the l i .c&l Aqraeant) o
t:ha
Republlo.
Tha Secur i t iu
of
thia SU i u are i••uabl• cnly
in
fUlly
ra9i•terad
fora. 'l'be sec:w:i t iu a n i••uable in (the]
authorized
dll)oainationr•l ot
(c:urreney/U.S.$
[ami
(.ny integral =ultipl• theroot]. [integral xultiploG ot
(currencyfU.S.$ abov• tha t UO\U l t ]
J.
Unti l
a l l
a.aount• in re8p&at ot
tht
principal and
in taraat due
al\d to
botcOH due
on
or in raapaot ot
th la
Sec urity have been
paid,
tha Republic ahal l :ma.intain in the
BorQU9h
of
Manhattan,
Tbe
City
o t
Nw
York,
an
ott ica or
a.qancy vhua
Sacur i t iu uy" be
auc:endared tor
ot
tr n•t£
axchJlnga.
1 lsa
Republio ha• in i t ia l ly
appointK
tM corpon.t• ofCica
of the Fisca l
Aqent
• •
i t a
&98Zit
in th•
Borough
ot
MAnhattan,
Tlw
City
of
lfev York, ·
for •uch pu.rpoea and baa aqreed ta c:ususs to lMI kept a t aucb
off ice
a in \lbicb.
subject to
auch raasonable
l:W9llla.t ona it a&r praaarib«,
the
bpu Jl ic
v i l l
provide
tor the regilb:at1on Of
.Becut"iti
and ot
t r au ta ra
ot
securi t l •• · nw
ltepul)l1c
r a n r vu tbe ri9ht to vary
or
brl t inate
the appointment of 71acal
Aqant • • aacurlty
A 1
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raq ia tnr or
tnnafer q t or
to appoint addition.al or
otheX'
or t:raM.tar agenu or to •pprcv• any cbt.nqa
in t ha otfice thr 1:9b vbicb
any
uc:urit:J' : '* ] i l l t ra r
or
any
a9ant
aota, pro#act · that
tbera wil l
a l l ti.ae•
ha a
aecurity
in
t .H
ICrOU¢l
ot Xlnb ttan,
tb.a
City ot
N.v YoP:k•
to t be ptv?UiDM on t h l faca hareaf
·ccmetU:'.I11ng I'Ntl'iction.,
th• =-an•tar
of
• Sacul:'ity
a req.lat:rule on th1
rtqiataz: upon surranttar
of
IIUCh
Security
a t thtl
cot Porate
truat
office ot t:ha F seal
Aflcnt
duly
endorced by,
or
trt
•
vrJ
tttm
hultrwumt: ot tra.a..far
iD fora
attached Ml:ato duly
by,
the a:-qiaterlld
Bol:Sar t:barao-t
or
h i •
attorney
du ly
authorized
iD
vr i t in ; . Upcm
auah
aarend•r
ot
th ia S•cut"ity
for A91•traticm ot t ranater, th4t
bpubllc
•ts..ll
execute,
u d t he r1aca1 .AtJant
shal l
autMntic. te an4 in tlle
nue ot
the
dui'IJMtltd transtu-4l•
c;r
tra.nst•r-u•, on•
or
:eore nw
seaurtt.iatl, dated tha
data
at authcntie&'t.ion
·
thareot,
of anr authorized ancS ot .. l ike
ag9X1J9ata p:rinOip&l uount
Subj.ct to 'tMI provi•iona on the
taea
concerning tran.far
reat:rlction•, a t tha option of tha
reg1•tered HOlder
upoa
requut ccmfitlud in vrit inq,
s . cu r i t i u
u y
ba
for
Securitiea
of
an1
authorized
and of a l.UC. &9;raq&t. prir.ci,P&l amount, U;FOn
surrendtr of th • sacu:riti to M eXChanged
a t
the corporat.
truat office of the
Any
reg.l11t:.ration f
tranafar
o:r: exchange vil l effected upon the r iacal Aqent
being
a.atiafllt<l
vi tb t he 4oc:wlantl of t l t l •
a11cl
of
the paraon dng tha ra;wtllt and
aubject
to .ueh roaaonal>le
ragulatiozw
• •
the bpubl ic
may troa tb:te to t im• agrcaa
vith
the
7 aa l Aqeut.. tfhenavar any sacmrlt1•• artt •o.
aurrondera4
tor JWpUbli= shall •x•cuta,
mc1
the l"i .cal
.&qut
a utll
•uthwnt:l.cate
and 4eUvar, tbe
secw:i t iu Which the rec}iatuad
Holder
liAlcing
the
axch U\9•
ia antitl•ct. to r-.c:eiva..
1'ba 1\0V
s.cur ty upon
•uah
exctuanga •bal l be 1 0 date4
that:
neith•r CJ b
nor
l o " ot
intereat
aball t uUl t
tro
•ucn excbanqa..
( I t
t:ha security
11
a
pt rqnent
glgbt l Stcu; i ty .
inur t-Hotv1thata.ndinq
the
the exchat\9• ·of
thia Sacurity i • 1ubject to
.
c r ta in lb . ta t iona 11t in
the
Fi1cal kJ«ncy
and
em tha tace
beraof
•l
[.In tha evant. of a radempticm of the SltOUritiea
ot
thi•
in
par t ,
the Republia uat
be
required (1)
to the Qf or axchanQa any Seourity durinQ
• periocS a t
tba OftUing of
w ainu• 15
day•
m.rar., and
oontJ.R\JJ.nli
unti l ,
th • date notioe 11 giv.n
identifying th•
S4ac:Ur1tJ.aa to he rada Jied, or
{11) to
A-ll
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r .g i t . r t:M ot
Ol"
exch•D;e t ny Security,
or
portion
tor re4u:ption.)
.1.11 iuu .d
upon
·any revi•tratJ.on
ot
tnJWfar or
oY'C b«n;e
ot Secur:it llb&ll
be
the v•U.d
obli.pt1.cm o f t h e Repablio avidenciJ,q the AJMt indebtedn•••
a d ent i t le4
to
t ha benefita thu
a.euritr
baa at.
th •
t iM ot auch
t
tran•fer or exohanqe.
Ho •arvice ahal l be Mda
for
any
%WJ1atr&tion ot tr nl l t • r excban9•, but
the
R•puhlic: uy
payunt
a
aWl
aufficient
to
cover
any
tax
or
other
gQvez:s»Hntal
char9• payable in
connection
tbuewi th ,
otb,ar thaD
an axcbanga in
connactlon vith a part ia l
zoKapt1on
or
a SKUrlty not
involvinq
any
of
a
far .
Prior dua prennblant of th IJ s.curity
tor
roglatration
of t.riiDI&ter, t:ha
Jtepubllc,
tb• Pi.eal A9ent and
any agent
of trua
Republic ar
the
ri•cal Agent aay
trt12.t tha
puaon in
wboaa nau
t:hia security
i l l rag1atend a• tho
ownu hereof for:
a l l purp0h11
1
vbathar or not th1•
security
a overdUe,
aftd nf l i ther t:ha Republic
nor
th•
Aqent
nar
any auc:h
aqont
. b a l l
tMt
attactod
hy notice to the
contrary.
In
any c:aae vhllre t:ht: due
date
o the paym11nt ·
t
t:h•
prinolp. l or
(and
i t
any(,·
on)) [or interest
on) any security[, or the
dAte
t1xect for
radaption
of any
security,) bca, any placa
wt=
any
ch•ck
in
tbaJ:"aof
i • to .ailed o r vbe.r• tl.lc.b sacur i ty i a to
a
for payaent
[or,
in
the
caaa
of payae.nta by
tranafer vheH
.w:h t ransfer 1• to
btl u4e] , a c1ay
on
wicb
banking . ln ; t i tu t iou
[ I t
t :b•
Btcu r i t i t l
are dtnQJ linatg<J in
y.s,
dollara. in••rt--in T.be City of [XC thn
Secprlt1•1 ore 41UPJiDJtwd Jn
I
curri QY qtbtt t h iD U.S.
nonor• . int l • r t - ln
[DOe
ot t1nano1al cantar cr the
country
in vhoac currency the aeou1'it1e& a'"• r.re
authorized
or
obliqatecl by lav to clo.e If tba sesur i t i as
are
denomlnotld
in • otbqr
than
u.s.
Qollart.
iner t -or
•
day on which
bu\klng inatitutiona
1n (nua
r
ncm-u.a. t DaDcial cant.ar) are
not
car.ryinq
out tt-anaaction•
in f tb l t
ot
non-u.s. currency]],
then
neh p.fl 'ent
Mw
not
bel
e
Olt
ew:h
c at• a t
ROb.
placa
but uy be aada on the
n a t
IIUCC8e41, cia{ a t
auch plao. Vhich
is not
a. day on
vhicb banking
n . t
tut ions u a authoriaec:t
or obl i9ated t y
lav
cla••• vlth the .... farce an4
• t f . c t
• • it aade on
the dabl for auch . ,_yunt in
reap.ct
ot any IUOh
dtllay.
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.
tzU ma l l
to the Pi .ca A9ent at
1u ¢1n01pal
of t ie .
iD
tb t
I01 CJUtth
of MIJlh ttln, 1M Citr
or sew YOl:'lc
1
prior to
eacb
date
on
vhich
•
0.. 1 or
n
reapect of
the
S.ourl t iu at th i• a.rles tha l l
baaou
du&,
monlu i l l •ueh
uount:JI
11111ch (toqathar vith
&flY
&IIOilnts
tben
held
by the l iac&l .Agent an.1 avallalJle
tor
t iM
purpo.a) are
autf1c1ent
to
aate wc:h payent.
AJsr a.cmiu
providt4 ey th•
Rapsbllc
to
tha Aqant
t l la
Ol'l
or
in
%Upe¢
of tU
Jec\ll'it1
.. ot tbi• • t:"iN ard
unolahld a t the
and
ot
tva
yean
after
.uc:h
paynnt ahall
tuava btlco
..
dua
ahaU than be
returned to t:ba llapublic, and
upt;)n
the return
t
meh
aoniu
a l l liabiU-=1••
of
t lw
r iaeal
v th thereto ab.all
<:4t&ae,
YitboUt, hO'WVer,
1lalt1n9 i l l any
vay
any obl19 1:1on the Rapublio
may to
pay
tba prinaipal a t
(cr
pr&ldUJI,
it
any[, on)} t r i n t a r u t
on] thia security u th*
.O i l sbl.ll
due.
so lcmv • • alSY &ewrity r .uins wt•tandinq,
save
for
the excaptiou ut
forth
in
the
Fi110al
Aqancy l.qreeunt,
·
- l :ba Republic vi l l not create
or
pen i t
to SUbaitt, or
panait
Banco
central to
c:::reate
or peni t to
aubai•t, any li*fl,
pl.acSga, .artf;a9a, a.o\U:'ity in tarut , d•ltd of trus.t,
ebar;e
or other
eJ10Ulllbra.nce
01:' vhicl t has
tJw praatlc:&l effect o con1tltut:ing security in tereat
(•Lien•)
upon tha ...m,1•
or
any par t of i ta aaat t . or
r.v.nu.••
to
any
PWI11o
lxttrMl
Ia1lebtadneaa C
datined in
the r i •ca l Aqanay r the Republio or
BMco Central unloa•, a t the • a u
tim•
or prior thuoto ,
Rapublic'• under
th•
Secur tiaa either (i) are
•ecured equally
and ratak>ly thar .vi th , or ( i i )
t1ava
t h •
benetit ot such other cacurity, quarantea. in4tan1t.y or
other arrangQM.nt 11 .Mall approva4
ey
not l••s.
th•n SS
2 /3 ' of t he
r .q iu t . red
t Securitie•
of any
Sgria•
then
aut•tandiD9-
I f
an EVant ot
oetault
a . d4tin•cl in tt.a
'1tC4l
Agency
Ac]raeaeJ'It)
oocurs
ancS iiJ oontinuir.q than
the
holders
not lea:ll l then
2S
pucent
in
principal
at QUllt ot
tha secur1ti•• of
tb i • seri••t
by
in
vritinq
to thg
Republic
ae the apocifiad
t tM
FiJcal A9ant, ahall
<l•clare
the principal
uount
of
a l l
the
S.cur i t ie•
ot
thi l l
Series
to
be Chze
and .,_y ble
• • ••t.
fcrlh.
1 1
th&
Fiscal
Agency
Al.l
r .v -an ts
ot:
pri.Jl.cipa.l, pr. .
UIIl,
MY.
and.
· intareat
on
th
•
Security by
tha
Republic
v i l l btt r:usde t ra t
ancl
alar ot, and vitbout vithbolc1iJI9 or d&duction o r or· on
aooount
of,
any pre1.nt or t.txa•,
dutiaa,
u1aanenu
cbat:f1CI ot whatever nature
bpcusec2
1
lc.vioct
collected,
withheld
or
11A t l t 4
by
or vithin
thll Rapul:)lio
or
any authority tb•rcin or t:h&r.at having pover to tax
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• • 0
(tocJ thc'
UDl
auch witbbolct .bq. or dactuctloa 11
lav.
In 8 ld l evant, th8
Mal l pay sw:h
A&li.Ucmal
.bOUDtll
u
v i l l rawl t
1D r .Odpt by the holden
of
sacurltlu
cf t:h.ill sari
or
tudl uounta
ot
principal,
Drelliua and
iDtera.t Vh1dl
voulcl haw been r.ca1Ve4·
by t h e
h ao·
web
vlthhaJ.cli.A9 or diM uat1oD
bMn
raq&lJ.nd,
uw t r
the
ucepticna
ae t forth
in the 7 i .ca l Aqanc;y J.cp:usa.bt.
so lcmg
u
any Security r d l i u out:abMing-, tha
cownuta to uiJ1taJ.D la and i ta
el.lqil)111ty
to
a u
t:ha 9taneral rUCNren
of ,
the
International
Xonetary
rune .
(%be
&Kuri t : l ot
th i •
s e r i - v i l l not
. ub j e c t
to any • inking tun4 and
vi l l
not
ba
r t4Uub le except u
4t•cribod
belov.]
sacuritiaw t th11 suiea u e tubjaat to
- - -
upm
not l u •
than 30
4ay•'
hotica
viven ••
baretii i t ter provide<l,
( l t
tpp11cobtt.
t nux t - (1 )
em
·
in any
yaar
COKMntti'ft9
vith
tbta year And
tmaliii vl 6 the
through
operation ot tha--.I2\lCincz
tund
tor th is ae r i n iF i ndpPt icm price tO 100 ot
the
prinaipal
nou.nt, (2) l
tat any
t iM
[on
or
atter
,
11 ] , u a wole or in part·, a t tha alection the
aapti )lic*
a t
t ha
rollavlnq
ndap t lon
pd.c:es
(e.xpra•hd
aa
peroentagu of tba pr.1Jsc1»al aiiOUltt ot
t h l
s . a t t iUe . to b4l
recSecnDed)
I f
rttcSacmed
(OD
or
betore
,
_t
a t ha iniSieatad,
Pr1¢o
and thft ' t l af te r a t a l:edaaption prlca
equal
to _ \ t tba
pr1nc1P41
uount ,
aDd
( l))
tmder
the
circuw.atancaa
ducr lbad
in
tba
next paragrapb at' a .J.'edoptlon
prlc;a
equal
to
lOOt
ot
tM
principal UO\Ult
ot tha S.CW:itie• to btl
ra4aaae4, in eaCh caM vith interest
(axcept
t tha reda:ption dat• i • an
In t . r
. Payment Data)
· to the : .a . .pt ion data,
tNt
in tens t inatallaenta on
Saeur l t iu t ha t a n
due
on
r
prior to
.w:h
reduptlon
date
v111 pqabla to
the
bolden ot IIUch SeoUr1tin of record
a t tha c lon
of
buainau Oft the nlavant IW::c:n:d Dat.a
referred to abOVeJ ptPYldtd, that i t.ha Adalption data
OCC Un
lMitvMD
a Racord
oau
DIS e lnt:aralt Pay:unt Data,
the intaralt due anc payahle vi l l be to the
bolde.r•
ot
A-l l
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.
.
;.
such securi t ies o t
record
a t the
oloh
of
b a i n t n
on
auc:h
beard oat..
[Part ia l
rw:.apt1aM
mat. be
a an
uoo.nt not
J.aa than
u.s..
p: tnaipal
. .-.ouJlt B•curiU... .
· [u
eel tor a 1bkin ; tund tor
tha ot
t:h•
s.cu.ritiea ot th i l s . r i a .
t w
Rapublic vi l l , unti l
al l
s-=ur i t i..
t
thit l s . r iu an
or payPnt
thereof
providaJCl for ,
depoait vi th
tha rilfCA.l prior to
in
aach ysar
1
M rMncinq
in
_
a%ld .ndlnq
in _
an a-.aant
in cam autfiaieut
to rGaC on auch
[rao
l.s•
th&n u.s.$ uclnot mon ·than]
u.S.$
pd.nciiiil
uount
of Sacurit.i••
t
t:hi1
Ser iu
at: the ndup t ion
pr lca
apaaitied aboVa to r reduption
tllro'\lgh
operation ot
t.ba •inldng'
tuneS. ainbua uount
ct.
any &inkin.«J lund pyaent
as
Jh th is P&noCJl •Ph
i s herein
r.tarrect to • •
a
•w•Matory' ainkinq
tund
PIYJMI1t•,
and
any
payMnt
in axceaa
t
auch
ldni .u. e.aount
i s huein
retarred to
u
an •optioaal •1Dldnq
tU d
p fM l l t
.. } The
-
cuh --uount-ot any [aaDd&toey} 1int nq
tunc2
i •
aubject to
reduei:lon aa
P"Wlded
btllcw.
Each fund
payzant ahall
be
appli.cl to
the
-redapticn
of
S•curit i•• 1:n
t:hi•
Bo:rie. on INCh heraln
providttd.
[ ' the
right to
Hdau
saeur tt
..
o t.his Bet"i••
optional
s inkin9 tunc
paYJNnt• 8ba11
not
CUJI\llativa and
to
tha
not ava11e4 of on any sinldnq fund
dattt
wil l
terminate.
Jl
· -
[H'ottd.th.-u.nc i.ng t.be
fOr9«Join9,
tba R.apublic:t r
not,
prior
to , Z'*Sema any Secu r i t i u of th ia s r ••
as [and optional
•L=iklnc;J payaent]
conts:spb.t.ed by th •
pracacUng pu=agraph a•
a part
o:t
or in
anttr.1ipation
t any
refunding operation by the
application,
directly
or
.
inctirectly, ot 110n1es })OrrWad bavi:nq an i n t e ru t coat
the Republin (calculated n
aooor4a.nce
vi th
accapt.m
tinanc:ittl practie•)
of
teas
than _,
par
annua.]
JSacur i t i • •
of
th ia
s . r i
..
aoquir.ac1 or redee.ed
by
th.•
Republ_c ot:hervisa
than
(1UJ)dAtory}
s I K nq
tund
papant•
aay be c:retitacl aga.inrt wbtequaDt (aar.datory
sinking lund p&yunta othecvi•• to h . :sade in the
invoraa
ordar
in
Vhic:h
become
due]
.]
[ ' I 'M
b}N} I l i c
i )
aay deliver
Oll t •bndin9
Sacur1t1•• t
thiS
Ser io (other than any previOWily
cal led
for rtldemption)
and
i i )
•r apply a•
a
cradi t
Se.curlt1t• of
th l• nri
Vhieb haVe
bMn
radanad othe.rvisa
than
throu Jb
. t lw
application
t £aan4ttory] •inkill9
tunc
paY'Ml\ta, 1n
each case in Ati•tact ion o a l l or .my pU t t any
[aandatory]
•ihk.in9: turd payzumt
and
the uount
of
web
(u"'-'atot'yJ •inking
tun4
pap1nt
shal l
be
reduc•d
&ecol'cUnqly.]
.A-12
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[ tn the &l'O partial
s.curJ.ti••
ot
1Z1a S . r 1 t:o the • i kbq hAd· ar a t
the opt.IDD
of
the JApablic, tba Beaur1t. iu
to
he r ed • · •d
. u t l
be aeleattld by tM r.t.cal A9eftt DOt aora
than o daya
prier to nclDpti011 4ata trm tlul
outatandin9
6ecur:it1
not
prnioualJ
aallAcl
tor
bf
w ts • • tlut
Fiacal
Agent ahall
U . . fa ir and
appropriate
and 11hich
aay
prorida tor
the aalaotion tor
ct
portions
(
to U.S.$
or uy
i r t t t9ral Jdlltlpl•
tl:anaof') o
the
prlnoip&l uount ot
ot
a
danalli:nAtion
lUVU
than
u.s.t_ 1·
{Ttlb Security ah all ba 4, at.
t:U opt:ion ot
tha regiabrrad
Bolder
t l laAOf,
upon
tha occurran.c::., on a r
attft ' • ot a
lledeaption
I 'V*Dt ••
datin*l)
,
a t
tU radnpticm price.
equal
to 1DIJt
ot
the
princ ipa l
IU:IOUnt
o f
th i • v i th in t • r • • t
aocuued
t Mreon to
t l :•
4&t. ot
urptionJ prgyided,
bQYfYil:,
t:ha.t-the
r1@e
of t:h• raqlstw::-e4
Hol.dar
t..o pr••snt
thia security [ i t
t t iS iQn: i t y
iff •
paryMJ l t
g:lobol
acwrlcy.
i n s e r t - , o r evidence of ovnerabtp t tha
Sac:Ur1t1
repras-mte4
by t l l i •
penwumt
9lobal
Seccrit.y ••
hueinat ter provided).) tor mall , i f the
Jlapublia
q ivu
• Jfotio. ot JMmt (aa
horc.ina.ftar
u t iMd ) ,
te ra inata upon axpiratiou ot: the Option Pttrioc: (IS
detinecSJ
to
a\leb R.odeaption
Evant.
tn
the evant ot occ:urrenoa of
110ra
than
oae
R.a&nlption
each web Red.m:2pt1on •mall a dMJMd to
contor
upon the reqi•tare4 Holder ot th1e security a
aep4rate
riqht
ot
redamption.] ·
Rapublic
eqAaa
that,
i t Redeaption Ewnt
it v i l l promptly qiVII vr1 t tu notice thereot to the
Piaaal
AtJent
(a •aotica ot Redemption
Evant•J.
Promptly
attar raaeiving 8UCh NotieD ot :aedalption l t\ ant, th •
.Fuoal
Ac)ent l lba l l give VJ:it.tan
notioa
to
the
rQ9iatared Hold•:-
thls Slcw:'.ity (a •Motica of Rig-ht to 'render•) stating tha t a
R.aduption Event btu; occurred and « 1 oni
of noticw
(a •Red..;st ion Notice") to which the regia terad ·
Hold.er of t h i t security
aay
ale<lt
to cau•a redfl lptlon. 'I'M
Republia
uy , but
ahall
not
be
obliCJate.rl
to,
t ix
a
record
data
for the pu..-poae or c1ee.ruin1Jll1 the BQld•rs
ot
Becur1t1ea or tbi• ••ri.- •nt1tlad
•lect
to cauaa
rMuapt1on o t any \H:A
Boldft'
•1 -=- to
caWia
r.c:teption ot
t:hi• Becu;'it.J, deliver t:be Jfotla•, t09•t: wr vith.
the
c:artUicata or tb• seour i t iu
to J)e
Xedeaed Ut tbe
BCCU J: itY
it I P'XMnppt
qlpQol
St9griH. i ngr t - - , or avidance ot ovnerabip of the
Sacur1t • repz:uentad hy th i1 patQD4:mt global s.eur·1ty ru
.harwiJ.naft:er
to
tha
riac:al
AQent
vlthtn • period
of d.ayw (the •Option Pta:rtod•)
or
tha dAte the Hct.to•
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[ I f
t '•
Stcurl ty
i t
a
pamnont
q lMa l
B.tQJrity.
i n g r t - I t 1a uden too4
that,·
tba :ar. ;oin9
»t""Yil ioM
Hl.at i l1g to
reda.p1:1cm
t
t he op t ion a
reglatu'e4
J oldu
nd without ot:hewiP l.bdtlng- any r iqht
of
any other
nqiateJ:ed
Bolder t.o
act
bf
a p n t or proxy,
th•
l'iac&l ApJtt u y
t rea t
a paraon
authorli:tkl,
in a II JUla;o
•aU.factory
to the
l bca l Apnt, by
th t
u.s.
Dapoaitaty
to
taka action in
o
th1a perunent 9lobal
aeourit.y
• •
t.btt registared
Balder of auch
portion t
Web
security
u 4 may aalca &rr&h Jnanta aatiafactory to i t , th •
Republic
and t h • u.s. O.poaitary in oonMCt1on vit s th i •
pa r t i a l
ra4upt ion_of th l t l
pe rNMn t
9lobal
[IJ\HJ:t
description
t
thoH
eventa, it any, vhich
conatitute
a .dupt icn •l · ·
[ I f
netic• of
raduption
hu bean ginn ln. tha
ll&Mar sat for th herein, the saauri t iu ao
to r .dH.Dtad
shal l
becoN
due
and payable on
the
n d n p t i o n
aptte:lfied in auch notice and upo.n p.ruantation and turrendar
t the
seauri t iq
if thw
8eqgr1ty 1 • • R'rMntmt qlobo,l
security. tnsm- , o r t 0\manhip of tha
Saau: 'i t i••
npretontetd by
thia
penanut r;lobal
••ti .etactory
to
the ] a t
the plac• or
place•
specified in II JCh notio•r s .euri t l•• -.ball be paid and
ra.cttued by llepUblio a t
tha
pl&cat, in t h a 1HZUaU cmd
aurrenoy an4
a t
tha
radeaptlon
prica bar•in spec:itied
tOCJetar
vitb
accrued
i n t a ru t
(u:nlu•
t:ba redemption
i1
an
:tftter..t: Payaant Dat.) to tha date. f roa
and
at tar
the
red.oalqation
data,
1f
110niu
fa r
the
x.dusption
t
securlt l•• e&lled
for
reduption shall
have
bean aada
·
available
a t
the
corporate truat office of tha Fiac&l AtJent
for redemption on
the
reduptiorl
date, the
sawri t iea oall14
for nctaJiption chal l ceaaa to btlar in t .a ru t , &1 4 tM only
r1C)bt
of the
bolder
ot •ucb secnzritl•• .-hall be to n c c l w
payaent t tha
riiCI..ption
pric. tog - :her vi h
accli:Utt4
i n tc 'N t (unl•••
tb•
redurption
date
1• an In tarut . PaJII.nt
Date) to tb• dat . as aforeuid. I f tor
tbe radaption ot t h t lecUriti•• a n not u.de ava1labl• f or
payment until at tar
tM
d&t•, the sec:urltiea
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· cal led tor ahal.l not c:e H t.o bair i n t . ru t un t i l
lldCh 1101'Slu
hava
b e e .o
availabl•·l
[J.Dy
.sacurity
vbicb
Ul
to be n.d . . -ed only
in
par t
aball aurreJUtarad vith,
if t:ha
bpW)Uc or
tb1
ri&eal
Agent ao ·dua
by,
or a
written
inatnzJMnt of
tnmaf . r
in tw:ll aatistaotory to
dl• Republic
an4 the
Fi•cal AQent ·duly
aDCUte4
by, tha holder
thareor or
.w:h
JsolcSU'•
attop\alr duly aut.boz:'bad in vri t lng, .ncs the
RapU )lio
. t laU exeCuta, an4 ·t:M
rise :.
A9ent
llha11
M
4.t1ver
to tlMt
regi•tm:a4
Jlolder
ot auch
·
sacu.r1ty
vitho\lt:
aervic•
cbarqa,
a
n•w
security
s .aur1t lu
' thi•
se.riu,
of
any autboriz•d
clanosination
4a
nquirecl
by
aucb Hol4u', in principal .uow1t a q U l
to and in ezcbaDCl• for t.b• llDZ'edMucS
por tMm
at tbe
principal
ot the SeQlri ty
ao nrrt.Ddue4.)
A . . . - tbg o t rag Jitulld
boldAn
of Seeuriti.ea a
t.bia sar i u y
be -at-any-tiM and
froa u o t iM
to uk•, qlva
or
t lce
any r.qu.est,
·da.and, authorisation,
41reat1on, coruumt,
or otb•r aatlcm proVidri
by
tho
"l.cal
A;enCY
tha s .curi t ia . ot thia .
ae r iu
to
be
. .a
9iven
or
t:alte.n
D re; t . terl ld bolder. of
S.CW:ltin of
th i •
Bari••
en" to llocU.ty, or
ow le . an t
t:ba t a r u of the
Sec:uriti l&
ot th1• Sar1ea
or
tha P1&ea.l
Aqmay
Agreoent ·a•
hareiMft.ar provided.
'tba lisc:al Aqent
. ay a t
any
t a .
cal l
a
.J.ng
of
b o l d u •
of
s.curitiea o th i • $U aa
ten
any .uch purpo4Je to ·be
ba ld a t
auch
this u 4
a t
•u m place the Fiacal
.Ag ant •bal l
Jlctica ot avery
ot
bolder•
of
sacurit iu of
tllia sarle•,
•ttt intJ the
ti:aa and
the
plac:a
of
auob and
in qenaral
tent• t: ut aation
propc;aae4 to be t ak . a •t •ueh
xaating
aba l be qivan aa
provided 1n th.- tenaa
of
th t
Seaut'itloa
at th i s soriea, no't
le • •
than
30 nor
110ra than
'a
dty•
prior to
tba· data
f or
t h •
au t inq .
In
ca a t any t1JM t h • llapublio or tha
nqistara4
hOlder• or l n & t to\" in pri.naipal
amount of tha outat&ndinq
SactJritill4
ot thu Ger es
(Gs
dat' inad in t l l l i l ' iac:al
AtJanay
AgrMJlltllt) wball h V11
tba Fiacal
Agant to ca l l a DHting o t tlM
ragiatarild
holden
ot Seouri t iu of thi.a sari•• tor an.y
•uch purpoae, by
vr.ltten requaat
• • t t in9
:forth
in
r•uonable
datal l
tha.
action
propotJtt4
to
be
tu.n
a t the
tinq, tha
Ft.
cal
Aqant
sha l l ca l l
well
&Mtl.ng tor •u.oh pu.rpoaea by 9iv.Lng notiaa.
theraof.
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a .cur l t iu
thia
SU. lu
tb
or (11) r i t l l the
c:onNUt
n9i8Ul: 'ed
holA en
ot
uot u thaD
st-2/:tt · •1 111
anreqata
pr lbcipl nount
t t:ha
&aaur1tl
. . o r t h l s s . r i
..
tb8ll
tb8
[an4 tha I'Uoal A9entcl,.r.Jn: sty,
...
d
m
JNpplalmt. the
t e r u or
provi•ions
iD
the Saaurit:iail
ot tha
a iu, 1u
any
var, u d the holden o f &eaurit i••
of
t:hJ.s a . r i.. M f au:., tak8
or
cp.w
any
p,quaat, d n • M ,
•utbor.Uation, ctUecticm, notic:., v&iver or othu
aat ora provided. by tha r iscal .&qocy J.cFaU16nt. or tba ·
s.o=it:l
.. ot thiS
s . r iu to
be u d e ,
4iiven,
or
by
heldara
of
sacurit1.. of
thl8
ser1u;
prpyldsd,
hgvayar,
that
no INCh
aation
u y , vitb.out
tha
coMent: of the
registered
holdtlr
o t each Secud.ty, (A) ctwaga
tlM
dua ·di te
tor
tha payaant of
the principal of
or u y in.tall.JMant
or
1nt1ra.t em any Security, (B) the principal amount t
uy
s.aurity,
tha portion
ncn principal a.ount
wicb 1a
payabla upon acceleration of
the
ot auc h SeDUrity
or tba 1nt.reat. ra ta
thareon, . (C) chaJJga
t:ha coin
or
in Wiell
ar tl1e
raquir .d plaoea at .Wicb
paYJUtnt
vi th
raspeet
to in teru t or principal 1n
ra•p&ct
ot
Sacouritiu of th1a
h r 1 u i s papb la ,
(D)
reduce the
proportion
tha prl.Daipal uount
of Sacurltiaa of thia
serlea the vote or conaant of tba
holcle.ra
ot vbich i •
MOUIJU'l'
to
J&Qdity, u.en4
or wppluumt tb l •
AgraOHnt
or
tha
1:arJU and of
the
saaari t1e. or tbia
s e r i u
or
to
»aka,
taka
or
give
any
requut ,
daand,
direct ion, .notic., conaent, vaivar cr other action
banby or th.reb;y to be aade, takaD or
ginn,
or (Z)
the obli9ation ot
the Jtepublio to pay
additional
'111• :riacal .Agent an4 tbe R•public aay aqree,
vithout
the
conaant
ot
tha
raqistered
holdera of aecurittu
of th i •
s.ri••
to 1) any JIOdification ot any of
tlHa l"'i•c.l
•vanc.T
A;re.aent wiell i s ot
a
toraal;. alnor or
technical natura 1• .a44l to
correct:
• u n i f M t •n-or al\4
11) any other
rao4ific:ation C•xcept
• • Jlentionad in the
ri•oal Aqenoy Agretatnt), and auy vaiver or author1&at1on ot
any breach o r proposed breaoh, o t
any
of
the pz:-ovl•iona
of
tha f iacal
Aqancy
Aqreaunt Vhich
is
in the opinion ot tha
P1emtl
Agant
not
aatar ia l ly
prejudicial
to tb •
intereJJta
ot
th •
holder•
ot sacuri t iea.
Any
•uch
lDOdi'fication,
autho:daation or
waiver u a l l
btl bindin;
on
tbe
holc tt-•
ot Becuritie• of
t: ai•
s u i • •
anc ,
1t
the Agent
so
sUCh
•bal l btl
not1t1e4 to the r l 9b tue4 or
seouri t iM
th1•
sari.. a •oon as
prACticable•
.Ul
DOticu
to the
r•vi•tared
holder•
·
ot
s.cmrltiea V111
publialuHl La web
publioat.iOM at
IIUCh
location•
• •
any ot the
Sacurit t .•
are
lu ted
for the p""1od
A-14
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.
llo rafanncto hera.ift
to
tba Fi.&c.al A9•ncy Ag'reema )t
M 4
110
provi•ion ot t:bia
:kcurity or
t
tlMI
r.tacal Aq•ncy
Aqreaent
llhall •lt:ar
or ;bpair
thtt
obligation
ot
tba
Rt.public t:o pay the principal.
of (and
preai.U11,
i t
any(,
on))
[an4 i n t u u t on]
tbia
kcul: 'ity • tM. tU.._If_, _ plaoa
and
rat:-• and i l l the coin or currency, praa.cribed..__
Cl•Jlaa
aqaiDat
t :H t r
pa)'Jicnt in
reapect
of
ua sacurit.f.u
t
thu seri••
and inter••t paYJatnt•
1M procrJ.b.4 and baooH void unl•••
vithin 10 ). 'UUW in the cue
t
prinotr . l)
UlCl
5
y eu . in
tb• t . in terut ) trOll the appr:opr
a t .
'Relevant Data in
r•apect
there t
f t i •
aball
be
iov-rn4Jd
by and col\at.rllocf
in accordance v1t:h the lava of
tha
Stat• t )few York, axaept
vith resp.ot to
authorization and
execution
by
tbe Repllbl.1c,
'lbe
ha•
in
the
l'iae&l
ACJency
irrevoc:ably •ubzlltted.
to the juriwJiction
r any Jlav York
atat.e or federal court •i t t1nq in
tbe aoroll1Jh
of
'l'ha C1ty o f Dav York and the
courta
of th •
l tapublic
Of
tt:ra
eourt••) over
a.,y
•ui
,. ac:t:icm, or
procndiJ1CJ againat
i t
or i t • prapertie1, ••••u or ravenut.S
vith reopeot to
th&
S&curiti.ca
of
th is BUist or th& riaeal
Aqanay
(a
.Ralatad Prooe.41J\9•).
'1'he
llepublie ha•
in
th•
·
Ji8Cal
Aganay
Agreuen'c
niv.t<
any
objection
to
Ralate4 Prooce41Jtq•
in aucb
courts W.t tar
on
t h • o
wnue,
re•idauc. Or dozioUe
or
on
th.a
qt 'UDd t h a t tha
Relate4
have
bHn bz:'ou9ht ln an
ll'\convaniant
rcmm. -:t •
Repu.blio A91 u&
that
•
t inal non-appulahle
:}u SglMnt 1D any
such
Relat.e4
t b • •aetatc4
Judgunt )
8ball be conelualv. &n4
upon
i t and
uy
be antorc.d in
any
Court. or in an)
other
oourta 1:0
the of
Vhicb
tba
Jlapublio 11 r
u y
be •Ubje.ct
(t:M
•other eourta•J, by a au.f.t upon 1uch · ju4gunt .
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. .
Mpuhlio
baa b the Plae&l Aqencr
\q l :euut
t ha t CiJ u:rvice o f a l l write, p r o o N • and aU»JJIWW..
in
DJ
b l a t . d
or·
art
a.ct:ioa e»: proc:Mdi.."'a9 .to
.utorce r uawu any
bl.atad
.na'P•Dt a p M t
it
in tba
suta
of Jrav
rcmc
•Y t - a d e
upcn
. .noo
de
1a Jlaci6n
az:v.atina, prenntlr loc:abcl a' ' Park Avanua,
wav
York,
Hav York 10111, e d , it RCh periOD u r.ot •a1J1taira4 l:Jy the
RapUhlic: u
a
avant
for
sudJ pgrpo1e,
the
Rapublicr
v111
appoint cr Olrporation
Syat .a
to act u ib a.qant tor c:uch
purpoa•·
1 0
tha
extant
tha t
the
hPabl ic
or
•ny
o
it..-
raveaun, u..u
or
propertiM &ball b-. in IU1Y
juriadicticm
in vhicb any &tpaaitied Court located. in
vhioh
any
Procltding RY • t any be
aqainat
it
cr
AnY
i t • reveua••,
a1nt•
or
propart1oa,
or
in
any juri1d1ot1cn
in
Vb Cb. any Spao1%1r.4 or other
COUrt i • located
in
vllic::b eray suit, action or pnx:aedinq
u y
a1: any thw
btl lu:y t
tolely
for
tha
po.rpoaa ot antorcing_
cr u6c::utJl\v cmy .a. ted
J a d ; a n t ,
to any
bmmnity trm.
auJ.t , tha jU¥"i•41CJt1on
of ellJ .uch court , troa •et-ott
troa
prior
to jUdSJMnt, t r
&ttacbae.nt
i l : aid
ot
•x&WtioD or: j\lCSgJient, froa e.xecution ot
• jucSvmant or
b:oa
any
oth . r legal or judicia l p ro c t l l o r
r .Mdy,
and
to
t h •
extent
that in AnY
such :lurinict.ion there •hal l J:J•
•ttr1wt4J4 web·
an
· Jaaunlty, th6 JlapU.blic l:a• irravooably
not
ta
alalx
ancS h u i r r .vocably
waiw4
eueh
ll 'lunJ.ty
to tha tuJ.leat
ex t c t
peni t te4 )1y the. lav. of •uQb
jurisdict ion (aDd
conant . qenerally tor tha ot
th•
l"or:aicp Tnun1t1••
Act
to
the
ot re l i • t
or the i a n e o t
any
proeua
in
comusc:tion vith .ny R•lated
or
Related
provided that such
ahal l not ba oftaot i f t
(1)
vi th
ra•pect u ,
tbe
1uaaaa \ lhieh
cor
.
i tu te
..
{ anl labla
r•••rv•• purwant to :Art ale 6
ot the
convertib
11ty Lav (the •canvurtibll i y La
I")
, 'ehe
amount, cOJIPo•it:ion and inv•atB.ent
or which vi l
be
retltlCUd CD the b&lanoa llheet
an4
&C COUntil)(l
• t a t ean t of
Banco central c:onaistantly pnpare4
pursuant
to
Articla
5 or
tba Convertibility
L&v and
(11)
vith
to
property ot
tb • public
cScu.ln
located
in
the
t trritory
ot Tha Jtepublio
ot
or
property
Ollne4 Jtapubllc 1ooatod
in i t •
t e r r i t oq
vbich
iii.
da41catec1 to
t lw
JXUllo•• o t an ·
••.ont-.Jal public:
nrvice,
and provided turthar
tha t
&Uch
aFHUnt u4 waJ.var, illat)far •• i t to
any ·
jur.lsdicticm other tban a
jur1adict1ou
i l l vbicb a spmc:ified
court
located, i • qiven aolely
for
th•
purpon
of
enabling tha
riacal
Agant cr a holder of Securities ot tbia
s . r iea
to enforce or executa a
Ralate4
JU49'Ull1:• 'l'he va1vor
ot .baunit ln rafene4
ta harein ®n&tit\ltel
on r &
l ia i
end
ap.a tia vaiver for
the pu:rpoae ot
the. a.cur t i • • ot
thia .S.r.t•• al\4 the
l 'iacal
A9ftaont
and un4ar
no
A-18
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.
cil:cuaatal'ce• At
it:
be - a v••*cal waiver
t
tJw atp:ah ta Cl: a WYU
vltb
to
JJZ CI018tf1ngw
UDnlat.s 1:tl
the
t ha
Sari = tha Piacal
A AOY
¥
it._ .
ODl_. i:he
ccti l ica. ta of
aut:heftt1catJ.
baa bean by the J'Ucal by f t t l •ignature,
t:hU ••aurity u a l l DOt be antitl iMI to any under t be
r iacal Agency . l ; r :MMat r be va114
= obliptcrY
for any
.
A-1t
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Security 11 the book8
o t tlM
TrUate-
vith
tu U pover or
.ubat i tut1on
n
tbl t
n te4c
Siqneture:
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EXHIBIT 2
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EXHIBIT 3
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EXHIBIT 4
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GOVERNMENT DEBT
Law
No. 26,886
Restructuring
process
of
government-issued debt.
Enacted: Septem ber 11, 2013
Promulgated: September 20,2013
The Senate and Chamber
of
Representatives
of
Argentina, Meeting in Congress, etc. sign into
Law:
ARTICLE 1 -
The Federal Executive Branch is authorized, through the Ministry
of
Economy and Public Finance,
to carry out all acts necessary for the conclusion
of
the restructuring process
of
government-issued debt eligible for
the swap provided by Decree No. 1,735 dated December 9 2004, and supplementary regulations, that were not
submitted to the same nor to the swap provided by Decree No. 563 dated Apri l26, 2010, as provided by Article 65
of
the Law
of
Financial Administration and Oversight Systems
of
the Federal Government No. 24,156 and
modifications thereof, for the purpose of adjusting debt service to the payment possibilities
of
the National :state in
the medium and long term.
i
ARTICLE
2 -
The fmancial terms and conditions to be offered are prohibited from being more favorable than those
offered to creditors in the debt restructuring provided by Decree No. 563/10.
ARTICLE 3 - Government-issued debt issued as a consequence
of
the provisions
of
this law, the provisions
of
Articles 7 and 10
of
Law No. 23,928 and modifications thereof,
as
applicable, shall be exempted.
ARTICLE
4 - Holders
of
government-issued debt that are eligible for the swap provided under Decree No.
1,735/04 and supplementary regulations who wish to participate in any restructuring operation carried out within the
framework
of
the provisions of this law, shall waive all rights under the referenced government-issued debt,
including rights recognized by any court or administrative ruling, arbitral award or decision
of
any authority, and
release the Argentine Republic from any court, administrative or arbitral action or any other type
of
action that has
been filed or may be filed in the future in relation to the referenced government-issued debt or the obligations
of
the
Argentine Republic that may arise therefrom, including any action for the purpose
of
receiving services related to
capital or interest from the referenced government-issued debt.
It is forbidden to offer to holders
of
government-issued debt who have filed court, administrative or arbitral actions
or actions of any other type treatment more favorable than that given to those who have not done so.
ARTICLE
5 -
The Ministry
of
Economy and Public Finance will inform the Federal Congress
of
the results
of
the
provisions
of
this law on a quarterly basis.
ARTICLE 6 - Government-issued debt eligible pursuant to the provisions
of
Decree No. 1,735/04 deposited for
any reason due to an order from courts of any instance, authority or jurisdiction, whose holders did not observe the
provisions
of
the swap provided by the aforementioned decree or the provisions < >f Decree No. 563/10, or who did
not expressly state in the respective legal proceedings their wish not to abide by the same, shall be automatically
replaced by 2038 Par Value Step-Up Bonds
of
the Argentine Republic, under the conditions established for
assignment, liquidation, and issuance
of
such bonds by Decree No.
1
73 5/04 and supplementary regulations.
The Ministry
of
Economy and Public Finance is authorized to issue any supplementary rules necessary to implement
the replacement provided in this article.
ARTICLE
7 - Articles 2, 3 and 4
of
Law No. 26,017 are suspended until the Federal Congress declares the
termination
of
the restructuring process for the government-issued debt under the referenced law.
ARTICLE
8 -
This law will enter into effect on the day
of
its publication in the Official Bulletin.
ARTICLE 9 -
Be it notified to the Federal Executive Branch.
ISSUED IN THE HALL OF SESSIONS OF THE ARGENTINE CONGRESS, IN BUENOS AIRES, ON THE
ELEVENTH DAY OF THE MONTH OF SEPTEMBER IN THE YEAR TWO THOUSAND THIRTEEN.
-REGISTERED UNDER NUMBER 26,886-
AMADO BOUDOU.- JULIAN A.
DOMINGUEZ.-
Gervasio Bazzano.- Juan H. Estrada.
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Translat ions, Inc.
STATEOFNEWYORK
ss
COUNTY OF NEW YORK
CERTIFICATION
This is to certify that the attached translation is, to the best
of my
knowledge and belief, a true
and accurate translation from Spanish into English of the attached Law No. 26,886, enacted on
September 11,2013.
Sworn to and subscribed before me
,20
_3
Ken Hetzel, Project Manager
Geotext Translations, Inc.
LYNDA GREEN
NOTARY
PUBUC.STATE
OF
NEW
N
YORK
0
·
1
GR620540
1
Qualif ied In N
My Commission Ex York ounty
res May 11
2 1
7
259 West
30th Street, 17th
Floor, New
York, NY 10001, U.S.A. tel 1 .212.631.7432
fax
1 .212.631.7778
220 Montgomery
Street Ste. 438, San Francisco
CA 94104
U.S.A tel
+1.415.576.9500 fax +1.415.520.0525
\ f \ l cc .ch• nrTtnn 1025 Connect icut Avenue,
Suite 1000,
Washington,
DC
20036,
U.S.A.
Tel +1.202.828.1267 Fax +1.202.828.1271
8-11 St.
John's
Lane,
London
EC1 M
4BF,
United l<ingdom
Tel
+44.20.7553.41 00 Fax+44.20.7990.9909
75 Boulevard Haussmann, F- 75008 Paris,
France
tel +33.1 .42.68.51 .47
fax
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.72.90.25
20th Floor, Central Tower, 28 Queen's
Road,
Central,
Hong
l<ong tel +852.2159.9143 fax
+852.301
0.0082
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Esta
norma
fue
consultada
traves de
InfoLEG,
base de datos
del
Centro de Documentaci6n e Informacion, f\1inisterio de
Economia
y Finanzas Publicas.
DEUDA PUBLICA
Ley 26.886
Proceso de
reestructuraci6n
de
tftulos publicos.
Sancionada:
Septiembre 11
de
2013
Promulgada: Septiembre
20
de 2013
El Senado y Camara de Diputados de Ia Nacion Argentina reunidos en Congreso, etc. sancionan con fuerza de
Ley:
ARTICULO °
Autorlzase al Poder Ejecutivo nacional, a
traves
del Ministerio de Economfa y Finanzas Publicas, a
realizar todos
aquellos actos necesarios para Ia conclusion del proceso de reestructuracion de los tltulos publicos que
fueran elegibles para el canje
dispuesto
en el Decreta N° 1.735
del
9 de diciembre de 2004 y: sus normas
complementarias que no hubiesen sido presentados al mismo ni al canje dispuesto por el Decreta N°
563
de fecha 26
de abril de
2010,
en los terminos del articulo 65 de Ia ley 24.156 de Administracion Financiera y de los Sistemas de
Control del Sector Publico Nacional y sus modificatorias, con el fin de adecuar los servicios de dicha deuda a las
posibilidades de pago del Estado nacional en el mediano y largo plazo.
ARTICULO
2°
-
Los terminos y condiciones financieros que se ofrezcan no podran
ser
mejores que los ofrecidos a
los acreedores en
Ia
reestructuracion de deuda dispuesta
por
el Decreta N°
563/10.
ARTICULO 3° Exceptuase a los tltulos de deuda publica que se emitan como consecuencia de lo dis puesto en Ia
presente ley, de lo dispuesto en los a rtlculos
7°
y
10
de Ia ley 23.928 y sus modificaciones, de corresponder.
ARTICULO 4° - Los
tenedores
de
tltulos
publicos
que
fueran elegibles para el canje
dispuesto
en el Decreta
O
1.735/04
y sus normas complementarias
que
deseen
participar
de cualquier operacion de reestructuracion que se
rea lice en el marco de
lo dispuesto
en Ia
presente
ley,
deberan
renunciar a
todos
los derechos que les correspondan
en virtud de los referidos
tltulos,
inclusive a aquellos derechos que hubieran sido reconocidos por cualquier sentencia
judicial o
administrativa,
laudo
arbitral
o decision de cualquier otra
autoridad,
y renunciar y liberar a 1a Republica
Argentina de cualquier accion judicial, administrativa, arbitral o de cualquier otro tipo, iniciada o que pudiere iniciarse
en el
futuro
con relacion a los referidos
tltulos
o a las obligaciones de
Ia
Republica Argentina que surjan de los
mismos, incluyendo cualquier accion
destinada
a percibir servicios de capital o
intereses
de dichos tltulos.
Prohlbese
ofrecer
a los
tenedores
de deuda publica
que
hubieran iniciado acciones judiciales,
administrativas,
arbitrales
ode
cualquier
otro
tipo un
trato
mas favorable que a aquellos
que
nolo
hubieran hecho.
ARTICULO 5°
El Ministerio de Economla y Finanzas Publicas informara
trimestralmente
al Honorable Congreso de
Ia Nacion los resultados de lo dispuesto en Ia presente.
ARTICULO 6°
-
Los bonos del Estado nacional elegibles de acuerdo a lo dispuesto
por
el Decreta N° 1.735/04,
depositados por cualquier causa o titulo a Ia orden de tribunales de cualquier'instancia, competencia y urisdiccion,
cuyos
titulares
no hubieran
adherido
al canje
dispuesto
por el decreta antes citado o el
dispuesto
por el Decreta N°
563/10,
o no hubieran
manifestado,
en forma
expresa,
en las respectivas actuaciones judiciales, su
voluntad
de no
adherir a los mismos, quedaran reemplazados, de pleno derecho, por los
Bonos
de Ia Republica Argentina a
Ia
Par
en Pesos Step Up 2038 , en las condiciones establecidas para Ia asignacion, liquidacion y emision de tales bonos por
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