Resolution of the Board of the National Bank of the Kyrgyz Republic No. 74/4 of 2 December 2015 on Amending the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Temporary Regulation 'On Liquidity Support Credit'" No. 50/1 of 3 September 2015

NATIONAL BANK OF THE KYRGYZ REPUBLIC

RESOLUTION

of 2 December 2015 No. 74/4

On Amending the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Temporary Regulation 'On Liquidity Support Credit'" No. 50/1 of 3 September 2015

In accordance with Articles 28 and 43 of the Law "On the National Bank of the Kyrgyz Republic", the Board of the National Bank of the Kyrgyz Republic resolves:

1. To amend the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Temporary Regulation 'On Liquidity Support Credit'" No. 50/1 of 3 September 2015 with supplements (attached).

2. The Legal Department of the National Bank shall:

• publish this Resolution on the official website of the National Bank of the Kyrgyz Republic;

• after official publication, send this Resolution to the Ministry of Justice of the Kyrgyz Republic for inclusion in the State Register of Normative Legal Acts of the Kyrgyz Republic.

3. This Resolution enters into force on the day of its official publication.

4. Control over the execution of this Resolution shall be assigned to the Deputy Chairman of the National Bank of the Kyrgyz Republic N. Zhenish.

Chairman of the Board of the National Bank of the Kyrgyz Republic		T. Abdygulov

Appendix

SUPPLEMENTS to the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Temporary Regulation 'On Liquidity Support Credit'" No. 50/1 of 3 September 2015

To introduce into the Resolution of the Board of the National Bank of the Kyrgyz Republic "On Approval of the Temporary Regulation 'On Liquidity Support Credit'" No. 50/1 of 3 September 2015 the following supplements:

in the Temporary Regulation "On Liquidity Support Credit" approved by the above-mentioned Resolution:

• paragraph 17 shall be supplemented with a sentence of the following content:

"Standard forms of the Agreement, the Credit Agreement on the issuance of a credit/tranche and pledge agreements are given in the Appendices";

• the Temporary Regulation shall be supplemented with Appendices 1, 2, 3, 4, 5 of the following content:

"Appendix 1

AGREEMENT on opening a credit line

Bishkek	No. ______	dated ______

The National Bank of the Kyrgyz Republic, hereinafter referred to as the "National Bank", represented by ______, acting on the basis of the Law "On the National Bank of the Kyrgyz Republic" and Resolution of the Board of the National Bank dated ______ No. _______, on the one hand, and ______, hereinafter referred to as the "Bank", represented by ______, acting on the basis of the Charter, on the other hand, hereinafter jointly referred to as the "Parties", have concluded this Agreement on opening a credit line (hereinafter - the Agreement) as follows:

1. Terms and definitions

For the purposes of this Agreement, the following terms are used.

Credit limit - the maximum total amount established in accordance with this Agreement, within which the Bank during the validity of this Agreement has the right to receive credits/tranches subject to compliance with the Basic Requirements.

Basic Requirements - the requirements established by the Temporary Regulation "On Liquidity Support Credit" approved by Resolution of the Board of the National Bank of the Kyrgyz Republic dated ______ No. _____.

Availability period of the credit limit - the period of time from the moment of signing this Agreement through ______ inclusive, during which the Bank has the right to receive credits/tranches within the opened credit line under this Agreement.

Credit/tranche - funds provided by the National Bank to the Bank on the terms stipulated by this Agreement, in a total amount not exceeding the Credit limit. Credits/tranches are provided in accordance with the Bank's Applications. The terms of credits/tranches are determined by specific Credit Agreements on the issuance of a credit/tranche.

Free balance of the credit limit - the amount of funds under the credit limit remaining after the last issuance of a credit/tranche by the National Bank to the Bank and equal to the difference between the credit limit and the total amount of issued but outstanding (i.e., active) credits/tranches in accordance with the terms of this Agreement. The free balance of the credit limit may be issued to the Bank in the form of a credit/tranche within its size and the availability period of the credit limit, as well as if the collateral is sufficient.

Credit Agreement on the issuance of a credit/tranche - an agreement concluded by the Parties within the framework of this Agreement, on the basis of which the National Bank provides the Bank with a credit/tranche, and which is an integral part of this Agreement.

Date of provision of the credit/tranche - the day of transfer of the credit/tranche amount to the Bank's correspondent account with the National Bank.

Date of repayment of the credit/tranche - the day of receipt of funds from the Bank to the account of the National Bank, in an amount covering the volume of the National Bank's claims under this Agreement and the Credit Agreements on the issuance of a credit/tranche, including the principal amount, accrued interest thereon and other payments, but not later than ______.

2. Subject of the agreement

2.1. The National Bank provides (opens) to the Bank a credit line with a credit limit in the amount of ______ (amount in words) soms on the terms of urgency, repayment, payment, security and other terms determined by this Agreement, and the Bank undertakes to return to the National Bank the credits/tranches received within the opened credit line and pay interest for their use in the amount, within the terms and on the conditions stipulated by this Agreement and the Credit Agreements on the issuance of a credit/tranche.

2.2. The credit line with a credit limit is provided (opened) from ______ through ______, upon the end of which the Bank must fully repay the debt on credits/tranches provided in accordance with this Agreement, including the principal amount, accrued interest and other payments on credits/tranches.

2.3. Within the established credit limit during the term of this Agreement, but not later than the availability period of the credit limit, the Bank has the right to receive the next credit/tranche within the free balance of the credit limit, subject to compliance with the basic requirements at the time of submission of the corresponding Application for the issuance of a credit/tranche. Compliance with the basic requirements is confirmed by the relevant information and documents provided by the Bank to the National Bank at the time of submission of the Application for the issuance of a credit/tranche.

2.4. The outstanding balance of the Bank on received credits/tranches during the entire term of this Agreement may not exceed the credit limit established by paragraph 2.1 of this Agreement.

2.5. The credit funds issued by the National Bank to the Bank within the framework of this Agreement have a designated purpose and must be used by the Bank to maintain liquidity. At the same time, the provided credit funds are primarily directed to satisfying claims for the return of deposits (deposits) of individuals.

2.6. The Bank is not entitled to use the credit funds provided by the National Bank for lending, for conducting operations on the securities market. The National Bank has the right to establish restrictions on transactions with insiders or affiliated persons of the Bank, including the payment of deposits (deposits) to individuals and legal entities related to the Bank.

3. Procedure for issuing credits/tranches

3.1. To receive a credit/tranche within the credit line, the Bank must submit to the National Bank an Application for the issuance of a credit/tranche indicating the amount, term of the credit/tranche and the list of assets offered as collateral for the credit/tranche.

The Bank's application for the issuance of a credit/tranche must be accompanied by documents and information on the Bank's compliance with the basic requirements.

3.2. A credit/tranche may be received with a repayment term of not more than _______ months from the moment of conclusion of this Agreement.

3.3. Credits/tranches will be provided by the National Bank to the Bank with the execution of the corresponding Credit Agreements on the issuance of a credit/tranche, which will stipulate the specific terms of issuance of the credit/tranche: size (amount), term, interest rate, terms of repayment of the principal amount and interest on the credit/tranche, etc. The said Credit Agreements on the issuance of a credit/tranche must contain a reference to this Agreement.

3.4. The Bank is obliged to comply with all requirements of the National Bank for the submission of necessary documents for obtaining a credit/tranche. The National Bank has the right to request from the Bank additional documents and information concerning the Bank's application for the issuance of a credit/tranche.

3.5. The provision of the credit/tranche will be made by the National Bank after studying all necessary materials and documents directly related to the issuance of the credit/tranche in accordance with the basic requirements.

The National Bank, having considered the completeness, validity and compliance of the documents provided by the Bank for the issuance of the credit/tranche, makes a decision on granting or refusing to issue the credit/tranche, in accordance with its internal procedures subject to the terms of this Agreement.

3.6. The credit/tranche will be provided to the Bank within 2 (two) business days after the Bank provides to the National Bank confirmation from the relevant authorized body on the registration of the pledge agreement in accordance with the signed Credit Agreement on the issuance of a credit/tranche. The credit/tranche may be issued to the Bank before the completion of the procedures for registration of pledge agreements with authorized bodies by decision of the Board of the National Bank.

4. Terms of calculation, accrual and payment of interest for the use of the credit/tranche and other amounts

4.1. For the use of credits/tranches provided by the National Bank, the Bank undertakes to pay the National Bank interest. Interest is accrued on the outstanding balance of the Bank on the principal amount of the credit/tranche.

The interest rate of the National Bank on the credit is fixed and is set at _____ percent per annum.

4.2. Accrual and payment of interest for the use of the credit/tranche is made on a monthly basis.

4.3. Interest is accrued from the date of provision of the credit/tranche (including that day) to the date of repayment of the credit (excluding that date) on the actual outstanding balance of the credit/tranche based on 360 days in a year and the actual number of days in a month.

4.4. Repayment of the principal amount of the debt on the credit/tranche is made in a lump sum not later than the business day of the end of this Agreement.

4.5. The procedure for payment of the principal debt and accrued interest on individual credits/tranches will be determined by separate Credit Agreements on the issuance of a credit/tranche.

5. Rights and obligations of the parties

5.1. Rights and obligations of the National Bank:

5.1.1. The National Bank undertakes to timely carry out all necessary actions for the issuance of the credit/tranche in accordance with this Agreement and the Credit Agreements on the issuance of a credit/tranche.

5.1.2. The National Bank has the right to take any measures provided for by the current legislation of the Kyrgyz Republic necessary for the Bank to fulfill its obligations under this Agreement and the Credit Agreements on the issuance of a credit/tranche.

5.1.3. During the period of validity of this Agreement, the National Bank has the right to conduct measures to verify the financial condition of the Bank, the condition of the collateral under the opened credit line, and the designated use of the credit/tranche.

5.1.4. The National Bank has the right to request and receive from the Bank any information it needs, including information on the condition of the collateral under the credit line, the designated use of the credit/tranche, including copies of payment documents certified by the Bank for the transfer of amounts and other information and documents for the purposes of monitoring and control.

5.1.5. The National Bank has the right, in an uncontested (indisputable) manner without the approval and consent of the Bank, to withdraw in any currency (regardless of the currency of the credit/tranche issued to the Bank) all amounts of overdue debt on the principal amount of credits/tranches, accrued interest thereon, penalties in the form of fines and penalties, and other amounts provided for by this Agreement and the Credit Agreements on the issuance of a credit/tranche, including losses and expenses of the National Bank incurred as a result of violations of the fulfillment of the Bank's obligations under this Agreement and the Credit Agreements on the issuance of a credit/tranche or violation by the Bank of the terms and provisions of the pledge agreements concluded between the Bank and the National Bank to secure this Agreement and the Credit Agreements on the issuance of a credit/tranche.

5.1.6. In the event that the Bank fails to comply with the requirements of the National Bank for the provision of additional collateral or replacement of the subject of pledge provided by the Bank to secure this Agreement and the Credit Agreements on the issuance of a credit/tranche, the National Bank has the right to write off in an uncontested (indisputable) manner from the Bank's correspondent account opened with the National Bank all or partial amounts of the Bank's debt under this Agreement, the Credit Agreements on the issuance of a credit/tranche, including the principal amount on credits/tranches, accrued interest thereon, penalties and fines or the corresponding amount equivalent to the missing collateral.

5.1.7. In the case of uncontested (indisputable) write-off/withdrawal of funds in foreign currency, the conversion (transfer) of the withdrawn/written-off funds into the currency of the credit/tranche issued by the National Bank to the Bank is made in accordance with the official exchange rate established by the National Bank.

5.1.8. The National Bank has the right, in cases provided for by this Agreement, the Credit Agreements on the issuance of a credit/tranche and the pledge agreements concluded between the National Bank and the Bank in accordance with this Agreement, to foreclose on the subjects of pledge provided by the Bank to the National Bank.

5.1.9. The National Bank has the right to unilaterally refuse to issue a credit/tranche and/or suspend the issuance of a credit/tranche and/or demand the Bank's fulfillment of obligations under this Agreement and the Credit Agreements on the issuance of a credit/tranche, including repayment of the principal debt on credits/tranches, payment of accrued interest for the actual time of use of credits/tranches and other amounts due to the National Bank in accordance with this Agreement and the Credit Agreements on the issuance of a credit/tranche, in any of the following cases:

1) in the case of designated use of the credit/tranche by the Bank;

2) in the case of failure to provide or untimely provision by the Bank of documents and information requested by the National Bank in accordance with this Agreement and the Credit Agreements on the issuance of a credit/tranche;

3) in the case of non-fulfillment or improper fulfillment by the Bank of its obligations under this Agreement and the Credit Agreements on the issuance of a credit/tranche;

4) in the case of violation by the Bank of the schedules of debt repayment according to the Credit Agreements on the issuance of a credit/tranche;

5) in the case of violation by the Bank of the provisions of the pledge agreements concluded between the Bank and the National Bank for property provided by the Bank to secure the credit line opened to the Bank by the National Bank in accordance with this Agreement;

6) in the case of the National Bank having information based on official data or data of authorized bodies that a significant, in the opinion of the National Bank, deterioration of the financial position of the Bank has occurred and/or in the case of the appearance of other circumstances that may lead to non-fulfillment or improper fulfillment by the Bank of its obligations to the National Bank under this Agreement and the Credit Agreements on the issuance of a credit/tranche;

7) in the case where the information provided by the Bank to the National Bank, in accordance with this Agreement and the Credit Agreements on the issuance of a credit/tranche, is unreliable, substantially incomplete/distorted, and/or knowingly false.

5.1.10. The National Bank notifies the Bank in writing of its requirements specified in subparagraph 5.1.9 of this paragraph.

In the case of termination by the National Bank of the issuance of a credit/tranche for the reasons specified in subparagraph 5.1.9, the National Bank has the right to unilaterally close (prohibit the right to) the Bank's free balance of the credit limit under the credit line opened in accordance with this Agreement, and demand from the Bank early return of the principal amount on credits/tranches and interest accrued for the actual time of use thereon, of which the National Bank notifies the Bank in writing. The Bank is obliged to fulfill the requirements contained in the written notification of the National Bank within a period not later than 5 (five) business days from the moment the Bank receives the corresponding written notification of the National Bank, unless other periods are provided for in the notification.

In the case of closing by the National Bank of the free balance of the credit limit under the credit line unilaterally, the said change enters into force from the date specified by the National Bank in the corresponding written notification to the Bank.

5.2. Rights and obligations of the Bank:

5.2.1. The Bank has the right to make early repayment of the principal debt and/or interest under this Agreement and the Credit Agreements on the issuance of a credit/tranche, with prior notification to the National Bank not later than three business days before the planned day of repayment.

5.2.2. The Bank is obliged to use the funds received from the National Bank in accordance with this Agreement and the Credit Agreements on the issuance of a credit/tranche strictly for the designated purpose established in paragraph 2.5 of this Agreement and the corresponding paragraphs of the Credit Agreements on the issuance of a credit/tranche.

5.2.3. The Bank is obliged to comply with all requirements of the National Bank put forward by it in accordance with this Agreement and the Credit Agreements on the issuance of a credit/tranche, including the provision within the period, in the required form and in full of information and documents requested by the National Bank in accordance with this Agreement and the Credit Agreements on the issuance of a credit/tranche.

5.2.4. During the entire term of this Agreement, the Bank is not entitled to re-pledge or otherwise encumber the property and/or rights of claim provided to secure the fulfillment of its obligations to the National Bank in accordance with this Agreement.

5.2.5. The Bank undertakes to timely and fully repay the principal amount and accrued interest on received credits/tranches according to the repayment schedules, in accordance with this Agreement and the Credit Agreements on the issuance of a credit/tranche.

5.2.6. The Bank undertakes to timely and fully take all necessary measures to ensure the safety and integrity of the pledged property provided by the Bank to secure the fulfillment of its obligations to the National Bank in accordance with this Agreement and the Credit Agreements on the issuance of a Credit/Tranche.

5.2.7. The Bank undertakes to immediately notify the National Bank of all circumstances capable of negatively affecting the fulfillment by the Bank of its obligations to the National Bank under this Agreement and the Credit Agreements on the issuance of a credit/tranche, including the return of the principal amount on issued credits/tranches, payment of accrued interest thereon and other amounts, including immediately notifying the National Bank of the following circumstances:

• on the receipt of claims and/or statements of claim brought against the Bank by third parties for an amount equal to or exceeding 10 (ten) percent of the credit limit specified in paragraph 2.1 of this Agreement; on court proceedings in which the Bank participates as a defendant or co-defendant for the payment of funds in an amount equal to or exceeding 10 (ten) percent of the credit limit specified in paragraph 2.1 of this Agreement; on enforcement measures and sanctions applied to the Bank by authorized state bodies and on all other circumstances capable of affecting the fulfillment by the Bank of its obligations to the National Bank under this Agreement;

• on the imposition of arrest on the Bank's property, including property provided by the Bank to secure the fulfillment of its obligations to the National Bank in accordance with pledge agreements.

5.2.8. The Bank undertakes to repay (return) the principal amount and accrued interest on credits/tranches in full and within the terms established by this Agreement and the Credit Agreements on the issuance of a credit/tranche, including early in the case of the National Bank sending a corresponding written notification to the Bank in connection with the occurrence of the circumstances set out in subparagraph 5.1.9 of paragraph 5.1 of this Agreement, within the terms established by subparagraph 5.1.10 of paragraph 5.1 of this Agreement.

6. Security for the fulfillment by the bank of its obligations under the credit line

6.1. The security for the fulfillment by the Bank of its obligations to return the principal amount of credits/tranches received by the Bank under this Agreement and the Credit Agreements on the issuance of a credit/tranche, accrued interest thereon, other fees/payments, penalties in the form of fines, penalties and other payments of the Bank under this Agreement and the Credit Agreements on the issuance of a credit/tranche are ______ owned by the Bank on the right of ownership according to the pledge agreement. The specific list of property transferred by the Bank to the National Bank as pledge to secure its obligations under this Agreement and the Credit Agreements on the issuance of a credit/tranche will be indicated in the pledge agreements concluded between the Bank and the National Bank.

6.2. The Bank's property that is the subject of pledge may be replaced by agreement of the Parties with other property of the Bank.

6.3. Pledge agreements must contain a reference to this Agreement as the main obligation.

6.4. The pledge of property subject to registration in accordance with the requirements of the current legislation of the Kyrgyz Republic must be registered by the Bank with the authorized body within the periods specified in the pledge agreement.

6.5. In the event of improper performance or non-performance by the Bank of its obligations under this Agreement and the Credit Agreements on the issuance of a loan/tranche, as well as in other cases provided for by this Agreement and the Credit Agreements on the issuance of a loan/tranche, the Bank grants the National Bank the right to immediately, starting from the day following the improper performance or non-performance by the Bank of its obligations to the National Bank, write off in an uncontested (indisputable) manner from the Bank's correspondent account with the National Bank funds in the amounts necessary to repay the Bank's debt under this Agreement and the Credit Agreements on the issuance of a loan/tranche, including the principal amounts of loans/tranches received, interest accrued thereon and penalties (forfeitures) and other payments.

The right granted by the Bank to write off in an uncontested (indisputable) manner from the Bank's correspondent account with the National Bank funds in the amounts necessary to repay the Bank's debt under this Agreement is additional security for the Bank on loans/tranches received by it from the National Bank.

The National Bank has the right to use this right to satisfy its claims under this Agreement and the Credit Agreements on the issuance of a loan/tranche in full, regardless of the presence of collateral provided by the Bank to the National Bank as security under this Agreement.

6.6. The National Bank has the right to satisfy its claims in full at the expense of the property pledged by the Bank by way of out-of-court foreclosure on the property pledged by the Bank and out-of-court sale of the subject of pledge in accordance with the terms and requirements provided for by the relevant pledge agreements and the legislation of the Kyrgyz Republic.

If the amount received from the sale of the property pledged by the Bank is insufficient to fully satisfy its claims against the Bank, the National Bank has the right to obtain the missing amount from any other property of the Bank.

6.7. The Bank/pledgor shall not in any way or in any form oppose the National Bank when the latter takes measures to foreclose on the subject of pledge, as well as to carry out measures for the uncontested (indisputable) write-off of the Bank's funds from the Bank's correspondent account with the National Bank. In the event of any opposition by the Bank/pledgor when the National Bank takes the necessary measures to foreclose on the subject of pledge, as well as to carry out measures for the uncontested (indisputable) write-off of the Bank's funds from the Bank's correspondent account with the National Bank, the National Bank has the right to satisfy its claims in full in court in accordance with the legislation of the Kyrgyz Republic. In this case, all relevant expenses of the National Bank, including court expenses, shall be borne by the Bank/pledgor.

7. Liability of the parties

7.1. The National Bank is liable for its obligations to issue the loan in accordance with this Agreement and the Credit Agreements on the issuance of a loan/tranche.

7.2. In the event of untimely transfer of the amount of the loan/tranche issued to the Bank's correspondent account with the National Bank within the time periods provided for by clause 3.6 of this Agreement, the National Bank shall pay the Bank a one-time fine in the amount of ___% of the amount of the loan/tranche issued.

7.3. In the event of misuse by the Bank of the received credit funds of the National Bank in accordance with this Agreement and the Credit Agreements on the issuance of a loan/tranche, the Bank shall pay the National Bank a penalty in the form of a one-time fine in the amount of ___% of the amount of the loan/tranche received in accordance with the Credit Agreements on the issuance of a loan/tranche. At the same time, the Bank is obliged to return the entire amount of the loan/tranche within 5 (five) business days from the day of the corresponding written notification by the National Bank to the Bank thereof, with payment of the penalty.

7.4. In the event of untimely and/or incomplete transfer by the Bank of payments to repay the principal amount of the loan/tranche, interest accrued thereon and other payments arising from this Agreement and the Credit Agreements on the issuance of a loan/tranche, the Bank shall pay a penalty in the form of interest in the amount of ______% of the amount of overdue debt for each day of delay, starting from the date of occurrence of the overdue debt until its full repayment.

7.5. Interest on overdue debt shall be calculated on the basis of the actual number of days.

7.6. If the Bank provides, in violation of the established deadlines or forms of provision, or provides incompletely, distortedly or unreliably, reports on the intended use of the loan and information on collateral security provided for by this Agreement and the pledge agreements concluded between the Bank and the National Bank, as well as other information and documents requested by the National Bank in accordance with this Agreement and the Credit Agreements on the issuance of a loan/tranche, the Bank shall pay the National Bank a fine in the amount of ___% of the credit limit specified in clause 2.1 of this Agreement, for each case of such improper provision of reports/information.

7.7. Payment of fines and penalties does not release the Bank from performing its obligations under this Agreement.

7.8. Extension of the terms of this Agreement, including the terms for the return of funds received by the Bank from the National Bank, including in the event of force majeure circumstances, is possible only on the basis of a decision of the Board of the National Bank.

8. Special conditions, guarantees

8.1. The Bank, by signing this Agreement, confirms and guarantees that:

a) being a legal entity under the legislation of the Kyrgyz Republic, it has the right to conclude this Agreement and the Credit Agreements on the issuance of a loan/tranche on its own behalf;

b) the content of this Agreement and the Credit Agreements on the issuance of a loan/tranche, and the corresponding performance of their terms, will not cause violation of the current legislation and any regulatory legal act of the Kyrgyz Republic, court decisions relating to the Bank, and the charter of the Bank;

c) the Bank is fully familiar with the requirements of the Interim Regulation "On Liquidity Support Credit", approved by the resolution of the Board of the National Bank of the Kyrgyz Republic dated ______ year No. _____.

8.2. In the event of force majeure circumstances caused directly or indirectly by the manifestation of extraordinary circumstances, including earthquakes and other natural disasters, actions and decisions of state bodies, entry into force of international treaties, adoption of regulatory legal acts of the Kyrgyz Republic, military actions and mass riots, which are beyond the control of the Parties to this Agreement and prevent them from performing their obligations under this Agreement and the Credit Agreements on the issuance of a loan/tranche, the terms for performance of these obligations shall be proportionately postponed for the duration of the said force majeure circumstances, subject to the conditions provided for by clause 7.8 of this Agreement, but only to the extent that they significantly affect the performance within the term of the whole of this Agreement and the Credit Agreements on the issuance of a loan/tranche or that part thereof which was to be performed after the occurrence of the said force majeure circumstances.

8.3. Both Parties to this Agreement must immediately, within 2 (two) business days, notify each other orally and in writing of the beginning and end of force majeure circumstances preventing them from performing their obligations under this Agreement and the Credit Agreements on the issuance of a loan/tranche.

8.4. Non-performance by one of the parties of its obligations under this Agreement and the Credit Agreements on the issuance of a loan/tranche is not considered a violation of this Agreement and the Credit Agreements on the issuance of a loan/tranche if it is a consequence of force majeure circumstances, provided that the Party affected by the force majeure circumstances has timely taken all necessary measures to eliminate such consequences.

9. Procedure for dispute resolution and applicable legislation

9.1. Disputes between the Parties arising in the process of performance of this Agreement shall be settled through negotiations between the Parties in order to develop a mutually acceptable solution.

9.2. If it is impossible to reach agreement through negotiations of the Parties, disputes between the Parties shall be settled in accordance with the legislation of the Kyrgyz Republic.

10. Final conditions

10.1. All relations between the National Bank and the Bank are confidential and the Parties shall not disclose to third parties information received from each other during the term of this Agreement, except in cases expressly provided for by the legislation of the Kyrgyz Republic and this Agreement, or when there is the corresponding consent of the other Party.

10.2. Confidential information does not include information that is publicly available, as well as information contained in officially published messages and reports, advertising messages and similar materials.

10.3. The Bank grants the National Bank the right to disclose information under this Agreement to third parties in cases of non-performance or improper performance by the Bank of its obligations to the National Bank under this Agreement and the Credit Agreements on the issuance of a loan/tranche.

10.4. The confidentiality provisions provided for by this article do not apply in the case of assignment of rights, including the right of claim, and obligations under this Agreement and the Credit Agreements on the issuance of a loan/tranche in accordance with the legislation of the Kyrgyz Republic.

10.5. Amendments and additions may be made to this Agreement by mutual agreement of the Parties by concluding additional agreements or exchanging letters or otherwise, which will be an integral part of this Agreement.

10.6. This Agreement may not be amended, supplemented or terminated unilaterally, except in cases provided for by this Agreement.

10.7. All terms and provisions of this Agreement are binding on the Parties.

10.8. The Parties undertake to notify each other in writing of an upcoming change in their bank details no less than 5 (five) calendar days before the date of changes. The risk of improper performance of this Agreement arising in connection with untimely notification of a change in their bank details shall be borne by the Party that did not notify or untimely notified the other Party of a change in its bank details.

10.9. In the event of reorganization or liquidation of the Parties, all rights and obligations of the Parties under this Agreement pass to the successors of the Parties.

10.10. The Credit Agreements on the issuance of a loan/tranche concluded on the basis of this Agreement are an integral part of this Agreement and all provisions of this Agreement apply to them.

10.11. This Agreement enters into force on the day of its signing by both Parties and is valid until the Bank fully performs all its obligations to the National Bank under this Agreement and the Credit Agreements on the issuance of a loan/tranche within the time periods provided for therein.

10.12. This Agreement is drawn up in 3 (three) original copies, having equal legal force, one copy for each of the Parties, two copies - for the authorized bodies carrying out registration of the pledge.

11. Legal addresses, details and signatures of the parties

National Bank of the Kyrgyz Republic		OJSC/CJSC "Commercial Bank"
Bishkek, Umetaliev St., 101		Bishkek, _____ St.
		Correspondent account with the NBKR No. ______
		NBKR BIC No. ______
		TIN No. ______
		OKPO No. ______
		State Tax Inspectorate Code: ______
Position ______		Position ______
(signature) ______ M.P.		(signature) ______ M.P.

Annex 2

CREDIT AGREEMENT No. ______ to the Agreement on opening a credit line No. ______

Bishkek		dated ______

The National Bank of the Kyrgyz Republic, hereinafter referred to as the "National Bank", represented by ______, acting on the basis of the Law "On the National Bank of the Kyrgyz Republic" and the resolution of the Board of the National Bank dated ______, on the one hand, and ______, hereinafter referred to as the "Bank", represented by ______, acting on the basis of ______, on the other hand, hereinafter jointly referred to as the "Parties", have concluded this Credit Agreement on the issuance of a loan/tranche (hereinafter - the Credit Agreement) as follows:

1. Subject of the credit agreement on the issuance of a loan/tranche

1.1. The National Bank, on the basis of the Agreement on opening a credit line dated ______ (hereinafter - the Agreement) and this Credit Agreement, provides the Bank with a loan/tranche in the amount of ______ (amount in words) soms on the terms provided for by this Credit Agreement and the Agreement on opening a credit line.

2. Conditions for granting the loan/tranche

2.1. The loan/tranche is provided for a period of _______ months from ______ to ______ year.

2.2. The date of granting the loan/tranche is the day of transfer of funds on the loan/tranche to the Bank's correspondent account with the National Bank of the Kyrgyz Republic.

2.3. The National Bank transfers funds on the loan/tranche within 2 (two) business days from the moment the Bank provides to the National Bank confirmation of the relevant authorized body on registration of pledge agreements for the loan/tranche requested by the Bank from the National Bank in accordance with this Credit Agreement.

2.4. The credit funds issued by the National Bank to the Bank under this Credit Agreement have a designated purpose and must be used by the Bank for the purposes provided for by clause 2.5 of the Agreement on opening a credit line and in accordance with the conditions provided for in clause 2.6 of the Agreement on opening a credit line.

If the Bank does not comply with the conditions provided for in the first paragraph of this clause, the measures provided for by the Agreement on opening a credit line will be applied to the Bank.

3. Conditions for using the loan/tranche

For the use of the loan/tranche, the Bank pays the National Bank a fixed interest rate in the amount of ______ percent per annum, during the entire term specified in clause 2.1 of this Credit Agreement.

3.1. Accrual and payment of interest for the use of the loan/tranche is made by the Bank on a monthly basis. Accrual of interest will be carried out in accordance with the Agreement on opening a credit line.

3.2. Repayment of the entire principal amount of the loan/tranche is made by the Bank in a lump sum upon expiration of the term specified in clause 2.1 of this Credit Agreement.

3.3. Repayment of the entire principal amount and all interest on the loan/tranche is made by the Bank according to the debt repayment schedule (Annex to this Credit Agreement), which is an integral part of this Credit Agreement.

3.4. Final settlement on the principal amount of the loan/tranche and accrued interest is made on ______ year.

3.5. If the date of repayment of the principal amount of the loan/tranche and/or payment of accrued interest thereon and/or other payments (fines, penalties, etc.) falls on a holiday, non-working or weekend day, then repayment of the principal amount of the loan/tranche and/or accrued interest thereon and/or other payments (fines, penalties, etc.) is made on the nearest business day following the corresponding holiday, non-working or weekend day.

3.6. Interest and other payments on the loan/tranche will be calculated on the basis of 360 days in a year and the actual number of days in a month.

Payments for repayment of the principal amount of the loan/tranche and accrued interest thereon and other payments (fines, penalties, etc.) are transferred by the Bank to the corresponding account with the National Bank (amounts on principal debt to account No. ______, amounts on interest payments to account No. ______).

4. Collateral security

4.1. The collateral security for the Bank's fulfillment of its obligations to return the principal amount of debt on the loan/tranche received by the Bank under this Credit Agreement, interest accrued thereon, other fees/payments, penalties in the form of fines, penalties and other payments of the Bank under this Credit Agreement and the Agreement on opening a credit line is ______. The specific list of property transferred by the Bank as pledge to the National Bank as security for its obligations under this Credit Agreement and the Agreement on opening a credit line will be specified in the pledge agreements concluded between the Bank and the National Bank.

5. Other conditions

5.1. Other conditions not provided for by this Credit Agreement, the rights, obligations and liability of the Parties are governed by the Agreement on opening a credit line.

5.2. Amendments and additions to this Credit Agreement are made by concluding in writing an additional agreement, which is an integral part thereof.

5.3. This Credit Agreement, including the Annex thereto, is an integral part of the Agreement on opening a credit line concluded between the National Bank and the Bank, and is drawn up in Russian in 3 (three) original copies, having equal legal force, 2 (two) copies - one for each of the Parties, 1 (one) copy - for submission to the relevant authorized bodies carrying out registration of the pledge.

6. Legal addresses, details and signatures of the parties

National Bank of the Kyrgyz Republic		OJSC/CJSC "Commercial Bank"
Bishkek, Umetaliev St., 101		Bishkek, _____ St.
		Correspondent account with the NBKR No. ______
		NBKR BIC No. ______
		TIN No. ______
		OKPO No. ______
		State Tax Inspectorate Code: ______
Position ______		Position ______
(signature) ______ M.P.		(signature) ______ M.P.

		Annex to the Credit Agreement dated "___" ______ No. ___

SCHEDULE
of loan repayment

Loan amount: ______ som

Interest rate (per annum): ______%

Interest repayment: monthly

Calculation year: 360 days

Loan term: ______ days

Date of loan issuance: "_" ______ 20

Date of loan repayment: "_" ______ 20

Months	Repayment dates	Interest repayment(*)	Principal repayment	Total to repay
	Total

(*) when calculating interest, the actual number of days of use of the loan is used.

National Bank of the Kyrgyz Republic		OJSC/CJSC "Commercial Bank"
Position ______		Position ______
(signature) ______ M.P.		(signature) ______ M.P.

Annex 3

AGREEMENT on pledge (of Government securities) to the Credit Agreement on the provision of a loan/tranche No. ______ dated "___" ______

Bishkek	No. ______	______

The National Bank of the Kyrgyz Republic, hereinafter referred to as the "National Bank" or "Pledgeholder", represented by ______, acting on the basis of the Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic" and the resolution of the Board of the National Bank dated ______, on the one hand, and ______, hereinafter referred to as the "Bank" or "Pledgor", represented by ___, acting on the basis of the Charter, on the other hand, hereinafter jointly referred to as the "Parties", have concluded this Pledge Agreement (hereinafter - the Agreement) to the Credit Agreement No. ______ dated "" ______ year as follows:

1. Subject of the agreement

1.1. The Pledgeholder provided the Pledgor with a loan in the amount of ______ (amount in words) soms according to the Credit Agreement on the issuance of a loan/tranche No. _______ dated ______ year (hereinafter - the Credit Agreement), within the framework of the opened credit line under the Agreement on opening a credit line No. ______ year (hereinafter - the Agreement on opening a credit line). The final term for repayment of the loan/tranche and accrued interest thereon occurs on ______ year.

1.2. As security for the fulfillment of the Pledgor's obligations under the Credit Agreement, the Pledgor transfers to the Pledgeholder as pledge the following government securities (hereinafter - GS) with a total nominal value of ______ (amount in words) soms, of the following issues and in the following volumes:

No.	Registration number	Date of issue of GS	Date of redemption of GS	Quantity of GS (pieces)	Nominal value of GS (som)
	Total:

1.3. This Agreement serves as security for the fulfillment of the Pledgor's obligations under the Credit Agreement and the Agreement on opening a credit line during its term.

1.4. The Pledgor is liable to the Pledgeholder with the pledged property specified in clause 1.2 of this Agreement, in the full scope of its obligations under the Credit Agreement and the Agreement on opening a credit line, including the principal amount of the loan, interest accrued thereon, penalties and fines; reimbursement of costs and other expenses (including court costs) caused by foreclosure on the subjects of pledge, as a result of non-performance, delay in performance or other improper performance of the main obligation under the Credit Agreement and the Agreement on opening a credit line.

1.5. Ownership of the pledged GS passes to the Pledgeholder in the event of full or partial non-performance by the Pledgor of its obligations to the Pledgeholder in the manner established by this Agreement and the current legislation of the Kyrgyz Republic.

1.6. The Pledgor guarantees that the GS provided as pledge specified in clause 1.2 of this Agreement are not under another pledge, are not in dispute and under prohibition, are not and will not be the subject of security for other obligations of the Pledgor.

2. Rights and obligations of the parties

2.1. The Pledgor is obliged:

2.1.1. Not to transfer gratuitously, not to pledge, not to change the GS (except in cases provided for by this Agreement), and also not to dispose of the pledged GS in any other way, without the written consent of the Pledgeholder.

2.1.2. Notify the Pledgee of any change in its location and other changes in the Pledgor's activities that could affect the Pledgor's performance of its obligations to the Pledgee under this Agreement, the Loan Agreement and the Credit Line Agreement, before the day such changes occur/take effect.

2.1.3. The Pledgor guarantees and gives its full consent to the immediate (undisputed), out-of-court foreclosure on the GS in accordance with the terms of this Agreement and the applicable legislation of the Kyrgyz Republic, in the event of non-performance or improper performance of the obligations assumed under the Loan Agreement, the Credit Line Agreement and this Agreement.

2.1.4. Timely and properly carry out all measures provided for by the applicable legislation of the Kyrgyz Republic necessary for the registration and entry into force of this Agreement.

2.1.5. Ensure, with prior written notice to the Pledgee, the replacement of GS whose maturity date occurs before the expiry of the Loan Agreement with other equivalent GS (T-bills and/or T-bonds) with a later maturity date. The replacement of GS must be carried out 30 (thirty) calendar days before the maturity date of the GS of the corresponding issue(s).

2.2. The Pledgor has the right to receive coupon payments (if any) on the pledged GS.

2.3. Subsequent pledge of the GS that is the subject of the pledge under this Agreement is not permitted.

2.4. The Pledgee has the right:

2.4.1. To demand from the Pledgor early performance of the obligations stipulated in this Agreement, and if its demand is not satisfied - to foreclose on the GS in the following cases:

1) in case of violation by the Pledgor of the requirements and provisions of the Loan Agreement and the Credit Line Agreement;

2) in case of violation by the Pledgor of the rules on subsequent pledge, the obligations to warn the Pledgee about the rights of third parties to the GS;

3) in case of non-performance by the Pledgor of other requirements and provisions provided for by this Agreement or the legislation of the Kyrgyz Republic.

2.4.2. In the event that the Pledgor or a third party obstructs the transfer of the GS into the possession of the Pledgee, to take legal actions necessary to obtain the property from the Pledgor or a third party.

2.4.3. To transfer its rights under this Agreement to a third party.

2.4.4. Foreclosure on the GS is carried out out of court in accordance with the legislation of the Kyrgyz Republic and the terms of this Agreement.

2.5. The Pledgee undertakes to return to the Pledgor the difference from the amount exceeding the amount of the Pledgee's claim secured by the pledge. The Pledgee's claims that are satisfied from the value of the GS include: repayment of the principal amount of the loan, payment of interest for the use of the loan, compensation for possible losses and penalties (fines, late payment charges) as a result of non-performance, delay in performance or other improper performance of the main obligation under the Loan Agreement and the Credit Line Agreement; reimbursement of costs and other expenses (including court costs) caused by foreclosure.

3. Terms of pledge

3.1. The Parties agreed that the GS pledged in accordance with this Agreement will be held in the pledge sub-account of the Pledgor's depo account in the Head Depository of GS of the National Bank.

After signing this Agreement, the Pledgor undertakes to send an instruction to the Head Depository of GS of the National Bank to transfer the GS pledged in accordance with this Agreement to the pledge sub-account of the Pledgor's depo account in the Head Depository of GS of the National Bank.

3.2. By mutual agreement of the Parties, the GS pledged in accordance with this Agreement may be replaced with other GS issued by the Government of the Kyrgyz Republic, or with other equivalent pledges specified in the resolution of the Board of the National Bank ______, belonging to the Pledgor, with the execution, as agreed by the Parties, of new pledge agreements between the Pledgee and the Pledgor, with their registration with the relevant state bodies and payment of the registration fee. The registration costs shall be borne by the Pledgor.

3.3. In the event of non-performance by the Pledgor of the requirements provided for in clause 2.1.5. and other clauses of this Agreement, upon the occurrence of the maturity dates of the GS pledged in accordance with this Agreement and held in the pledge sub-account of the Pledgor's depo account in the Head Depository of GS of the National Bank, the Parties authorized the Head Depository of GS of the National Bank to transfer the nominal value of the said GS from the account of the Central Treasury under the Ministry of Finance of the Kyrgyz Republic to the account of the Pledgee.

3.4. In the event of non-performance of the obligation secured by the pledge under the Loan Agreement and the Credit Line Agreement, the Pledgee has the right to transfer the GS pledged in accordance with this Agreement from the pledge sub-account of the Pledgor's depo account in the Head Depository of GS of the National Bank to the Pledgee's account.

3.5. The Parties agreed that the fees for registration of this Agreement in the Head Depository of GS of the National Bank shall be paid by the Pledgor.

4. Liability of the parties

4.1. In the event of non-performance or improper performance of obligations under this Agreement, the Parties shall compensate each other for all losses caused in accordance with the legislation of the Kyrgyz Republic.

4.2. Compensation for losses and payment of a penalty does not release the guilty party from performing the obligations provided for by this Agreement, the Loan Agreement and the Credit Line Agreement.

4.3. In the event of non-performance or improper performance by the Pledgor of the obligations provided for in clause 2.1.5. of this Agreement, the Pledgor shall pay the Pledgee a penalty in the amount of _______% of the nominal value of the GS subject to replacement, for each day of delay (non-performance of its obligations).

5. Procedure for foreclosure on the subjects of pledge

5.1. In the event of the need for foreclosure on the GS in accordance with the provisions of this Agreement, the Parties have agreed that foreclosure on the GS will be carried out immediately, out of court, in accordance with the terms of this Agreement, the Credit Line Agreement and the applicable legislation of the Kyrgyz Republic.

6. Miscellaneous

6.1. This Agreement enters into force from the moment of its registration in the established procedure and is valid until the Pledgor fully repays its obligations to the Pledgee, including the return of the principal amount of the loan, accrued interest thereon, payment of a fine/penalty and compensation for other losses/expenses caused by non-performance or improper performance by the Pledgor of its obligations under the Loan Agreement, the Credit Line Agreement and this Agreement.

6.2. The terms of this Agreement may be amended and supplemented only by mutual agreement of the Parties.

6.3. The costs of execution and registration of this Agreement shall be borne by the Pledgor. Registration of this Agreement shall be carried out by the Pledgor.

6.4. This Agreement is subject to registration in the Head Depository of GS at the National Bank.

6.5. This Agreement enters into force from the moment of registration with the relevant authorized bodies in accordance with clause 6.4. of this Agreement.

6.6. This Agreement is drawn up in 3 (three) original copies, one for each of the Parties, 1 (one) copy - for submission to the relevant authorized bodies for registration.

7. Legal addresses, details and signatures of the parties

PLEDGEE:		PLEDGOR:
National Bank of the Kyrgyz Republic		OJSC/CJSC "Commercial Bank"
Bishkek, 101 Umetaliev St.		Bishkek, _____ St.
		Correspondent account with the NBKR No. ______
		NBKR BIC No. ______
		TIN No. ______
		OKPO No. ______
		State Tax Inspectorate Code: ______
Position ______		Position ______
(signature) ______ L.S.		(signature) ______ L.S.

Registered with the National Bank of the Kyrgyz Republic

"_" ______ 20 No. ______

______/	______
(signature)	(position, full name)

Annex 4

PLEDGE AGREEMENT No. ______
(Immovable property) to the Loan Agreement on the issuance of a loan/tranche No. _______ dated ______ year

Bishkek		"___" ______ year

The National Bank of the Kyrgyz Republic, hereinafter referred to as the "National Bank" or the "Pledgee", represented by ______, acting on the basis of the Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic" and the resolution of the Board of the National Bank ______ dated ______ year No. ______, on the one hand, and ______, hereinafter referred to as the "Bank" or the "Pledgor", represented by ______, acting on the basis of the Charter, on the other hand, hereinafter jointly referred to as the "Parties", have concluded this Pledge Agreement (hereinafter - the Agreement) to the Loan Agreement No. _______ dated ______ year as follows.

1. Subject of the agreement

1.1. The Pledgee provided the Pledgor with a loan in the amount of ______ (amount in words) soms. The final repayment date of the loan/tranche and accrued interest thereon, according to the Loan Agreement on the issuance of a loan/tranche No. ______ dated ______ year (hereinafter - the Loan Agreement), within the framework of the opened credit line under the Credit Line Agreement No. ______ dated ______ year (hereinafter - the Credit Line Agreement) occurs on ______ year.

1.2. As security for the Pledgor's obligations under the Loan Agreement, including:

• the principal amount of the loan/tranche received under the credit line, accrued interest thereon, compensation for losses and penalties (fines and late payment charges) as a result of non-performance, delay in performance or other improper performance of the main obligation under the Loan Agreement on the issuance of a loan/tranche and the Credit Line Agreement;

• reimbursement of the Pledgee's costs related to the maintenance and/or protection of the subjects of pledge;

• reimbursement of costs and other expenses (including court costs) caused by foreclosure on the subject of pledge;

• reimbursement of sale costs.

The Pledgor provides as a pledge the following immovable property:

• ______

The pledge extends to the entire building specified in this clause.

1.3. The immovable property specified in clause 1.2. of this Agreement is provided as a pledge by the Pledgor as a single complex at a single price and hereinafter will be referred to in this Agreement as the Subject of pledge.

1.4. The Subject of pledge specified in clause 1.2. of this Agreement belongs to the Pledgor by right of ownership, which is confirmed by the following documents: ______

1.5. The Pledge value of the Subject of pledge agreed by the Parties at the time of signing this Agreement, taking into account a discount of ______ from the book value, is ______ (amount in words) soms.

1.6. The Pledgor has the rights of possession and use of the Subject of pledge specified in clause 1.2. of this Agreement, but has no right of disposal without the consent of the Pledgee.

The Subject of pledge remains in the possession and use of the Pledgor, without the right of disposal.

1.7. The Pledgor guarantees that the property transferred as a pledge under this Agreement is not sold, is not under other pledges, is not in dispute and under prohibition, is not and will not be the subject of security for other obligations of the Pledgor and is free from claims of third parties, of which the Pledgor provides relevant supporting documents.

1.8. The Pledgor is obliged to insure the Subject of pledge within a period not later than 10 (ten) working days from the date of signing this Agreement with one of the insurance organizations.

1.9. This Agreement will be security for the prolongation, restructuring of the loan specified in clause 1.1. of this Agreement.

3. Rights and obligations of the parties

2.1. The Pledgee has the right:

2.1.1. To check by documents and in fact the presence, size, condition and conditions of preservation of the Subject of pledge.

2.1.2. To demand from the Pledgor the cessation of any encroachment on the Subject of pledge that threatens it with destruction, damage or reduces its value.

2.1.3. To demand from the Pledgor the taking of measures for the protection of the Subject of pledge.

2.1.4. To demand from the Pledgor the restoration or replacement of the Subject of pledge or the provision of additional security in case of its damage or loss, or a decrease in its market value.

2.1.5. To demand from the Pledgor early performance of the obligations secured by this Subject of pledge, if the Subject of pledge is lost, damaged/deteriorated, and also if the parties have not reached agreement on the restoration or replacement of the Subject of pledge or additional security.

2.1.6. To demand from the Pledgor additional security or replacement of the Subject of pledge when the market value of the Subject of pledge decreases. At the same time, the Pledgee has the right to demand from the Pledgor an independent valuation of the Subject of pledge at the Pledgor's expense.

2.1.7. To demand from the Pledgor early performance of the obligations stipulated in clause 1.1. of this Agreement, and if its demand is not satisfied, to foreclose on the subjects of pledge in the following cases:

1) before the due date for performance of the obligation secured by the pledge: in case of violations by the Pledgor of the terms of the Credit Line Agreement and the Loan Agreement on the issuance of a loan/tranche concluded on its basis;

2) after the expiry of the term for performance of the obligation secured by the pledge: in case the Pledgor has not paid the debt under the Credit Line Agreement and the Loan Agreement on the issuance of a loan/tranche concluded on its basis;

3) violation by the Pledgor of the rules for the preservation, replacement or restoration of the Subject of pledge;

4) loss, destruction, damage of the Subject of pledge due to circumstances for which the Pledgor is not responsible, as well as a decrease in the market value of the Subject of pledge, if the Pledgor has not replaced or restored the Subject of pledge, or has not provided additional security in accordance with clause 2.4.5. of this Agreement;

5) violation by the Pledgor of the rules on subsequent pledge, obligations for the maintenance and preservation of the Subject of pledge, obligations to warn the Pledgee about the rights of third parties to the Subject of pledge;

6) non-performance by the Pledgor of clause 1.8. of this Agreement and in other cases provided for by this Agreement or the legislation of the Kyrgyz Republic.

2.1.8. In the event that the amount received from the sale of the Subject of pledge is insufficient to fully satisfy the Pledgee's claims, to obtain the missing amount from other property of the Pledgor, which may be foreclosed in accordance with the legislation of the Kyrgyz Republic.

2.1.9. In the event that the Pledgor or a third party obstructs the transfer of the Subject of pledge into the possession of the Pledgee, to take legal actions necessary to obtain the property from the Pledgor or a third party.

2.1.10. To transfer its rights under this Agreement to a third party.

2.2. The Pledgee undertakes:

2.2.1. To return to the Pledgor the difference from the amount received from the sale of the Subject of pledge, exceeding the amount of the Pledgee's claim secured by the pledge. The Pledgee's claims that are satisfied from the value of the Subject of pledge include: repayment of the principal amount of the debt under the loan/tranche issued to the Pledgor on the basis of the Credit Line Agreement and the Loan Agreement on the issuance of a loan/tranche concluded on its basis, payment of accrued interest for the use of the loan/tranche, possible losses and penalties (fines, late payment charges) as a result of non-performance, delay in performance or other improper performance of the main obligation under the Credit Agreement and the Loan Agreement on the issuance of a loan/tranche concluded on its basis; reimbursement of the Pledgee's costs related to the maintenance and/or protection of the Subject of pledge, reimbursement of costs and other expenses (including court costs) caused by foreclosure and sale of the Subject of pledge.

2.3. The Pledgor has the right, by agreement with the Pledgee, to possess and use the Subject of pledge in accordance with its nature and purpose.

2.4. The Pledgor undertakes:

2.4.1. Not to lease, not to transfer gratuitously, not to pledge, not to encumber, not to change the Subject of pledge, and also not to dispose of the Subject of pledge in any other way whatsoever.

2.4.2. To ensure proper conditions for the maintenance of the Subject of pledge, to guarantee and maintain its preservation and technical condition, including bearing the costs of their maintenance (carrying out current and major repairs).

2.4.3. To allow representatives of the Pledgee to the location of the Subject of pledge for the purpose of monitoring their presence, condition and conditions of their maintenance.

2.4.4. To immediately notify the Pledgee in writing of the occurrence of a threat of loss or damage to the Subject of pledge.

2.4.5. To ensure, with the written consent of the Pledgee, the restoration or equivalent replacement of the Subject of pledge in case of its loss, destruction or damage. At the same time, the Pledgor is obliged within 3 (three) working days from the day of the occurrence of the loss, destruction or damage of the Subject of pledge to offer the Pledgee an equivalent replacement of the Subject of pledge. Upon receipt from the Pledgee of consent to replace the Subject of pledge with the security offered by the Pledgor, within 10 (ten) working days to replace the Subject of pledge with the security agreed with the Pledgee. In case of a decrease in the market value of the Subject of pledge, at the request of the Pledgee, within 10 (ten) working days to provide additional security.

2.4.6. To notify the Pledgee of a change in its location and other changes from the day of such changes.

2.4.7. To transfer to the Pledgee the title documents for the Subject of pledge specified in clause 1.4. of this Agreement, as well as technical passports for the Subject of pledge from the moment of signing this Agreement. The said title documents for the Subject of pledge will be kept by the Pledgee until the Pledgor fully fulfills its obligations under the Credit Line Agreement and the Loan Agreement on the issuance of a loan/tranche concluded on its basis, and the termination of this Agreement.

2.5. Foreclosure on the Subject of pledge is carried out out of court in accordance with the Agreement on satisfying the Pledgee's claims out of court, concluded simultaneously with this Agreement and being an integral part thereof.

2.6. The Pledgor guarantees and gives its full consent to the out-of-court procedure for foreclosure on the Subject of pledge and out-of-court sale of the Subject of pledge regardless of its characteristics and composition in the event of non-performance or improper performance of the obligations assumed under the Credit Line Agreement, the Loan Agreement on the issuance of a loan/tranche concluded on its basis and this Agreement.

2.7. The Pledgor undertakes to conclude a notarized Agreement with the Pledgee on out-of-court foreclosure on the Subject of pledge, which will be an integral part of this Agreement.

3. Liability of the parties

3.1. In the event of non-performance or improper performance of obligations under this Agreement, the Parties shall compensate each other for all losses caused in accordance with the legislation of the Kyrgyz Republic.

3.2. In the event of non-performance by the Pledgor of the obligations provided for in subclause 2.4.5 of clause 2.4. of this Agreement, the Pledgor shall pay the Pledgee a penalty in the amount of _____% of the value of the Subject of pledge according to clause 1.5. of this Agreement for each day of non-performance of its obligations.

3.3. Compensation for losses and payment of a penalty does not release the guilty party from performing the obligations provided for by this Agreement and the Credit Line Agreement and the Loan Agreement on the issuance of a loan/tranche concluded on its basis.

4. Procedure for foreclosure on the subjects of pledge

4.1. In the event of the need for foreclosure on the Subject of pledge, in accordance with the provisions of this Agreement and the Credit Line Agreement and the Loan Agreement on the issuance of a loan/tranche, which are an integral part of the Credit Line Agreement, the Parties have agreed that foreclosure on the Subject of pledge will be carried out out of court in accordance with the legislation of the Kyrgyz Republic and in accordance with clause 4.2. of this Agreement.

4.2. The out-of-court procedure for foreclosure on the Subject of pledge and the out-of-court procedure for its sale is carried out in accordance with the Agreement on satisfying the Pledgee's claims out of court, concluded simultaneously with this Agreement and being an integral part of this Agreement.

5. Miscellaneous

5.1. The terms of this Agreement may be amended and supplemented only by mutual agreement of the Parties.

5.2. The costs of execution and registration of this Agreement and the Agreement with the Pledgee on out-of-court foreclosure on the Subject of pledge shall be borne by the Pledgor.

5.3. This Agreement is subject to notarization and registration with the authorized bodies for registration of rights to immovable property.

5.4. This Agreement enters into force from the moment of registration with the relevant authorized bodies in accordance with clause 5.3. of this Agreement.

5.5. This Agreement is drawn up in Russian, in _______ copies, one for each of the Parties, other copies - for submission to the relevant authorized bodies for registration and the notary office.

6. Legal addresses, details and signatures of the parties

National Bank of the Kyrgyz Republic		OJSC/CJSC "Commercial Bank"
Bishkek, 101 Umetaliev St.		Bishkek, _____ St.
		Correspondent account with the NBKR No. ______
		NBKR BIC No. ______
		TIN No. ______
		OKPO No. ______
		State Tax Inspectorate Code: ______
Position ______		Position ______
(signature) ______ L.S.		(signature) ______ L.S.

		Annex to the Pledge Agreement dated "_" ______ 20 No. ____

AGREEMENT No. ______ on out-of-court satisfaction of the pledgeholder's claims to the Pledge Agreement No. ______ dated "___" ______ year

Bishkek		"___" ______ year

The National Bank of the Kyrgyz Republic, hereinafter referred to as the "National Bank" or the "Pledgeholder", represented by ______, acting on the basis of the Law of the Kyrgyz Republic "On the National Bank of the Kyrgyz Republic" and Resolution of the Board of the National Bank ______ dated ______ year No. ______, on the one hand, and ______, hereinafter referred to as the "Bank" or the "Pledgor", represented by ______, acting on the basis of ___, on the other hand, hereinafter jointly referred to as the "Parties", have concluded this Agreement on out-of-court satisfaction of the Pledgeholder's claims (hereinafter - the Agreement) to the Pledge Agreement No. _______ dated "" ______ year, which serves as security for the Agreement on the provision of a credit line No. ______ dated ______ year and the Loan Agreement No. ______ dated ______ year, as follows.

1. The Parties, by virtue of the Pledge Agreement dated "___" ______ year No. ______, concluded between the Parties, and certified by ______, ______, by this Agreement have determined the out-of-court procedure for the Pledgeholder's foreclosure on the Items of pledge in the event of non-performance or improper performance by the Pledgor of the obligation secured by the pledge.

At the same time, the Parties understand the words "improper performance or non-performance of obligations" as follows:

• violation of the deadlines for performance of obligations (including violation of the deadlines for payment of interest for the use of funds and/or the principal amount);

• violation of the place of performance of obligations;

• violation of the procedure for performance of the obligation;

• failure by the debtor (Pledgor) to comply with the Pledgeholder's demands for early performance of the obligation secured by the pledge in the cases provided for by Article 56 of the Law of the Kyrgyz Republic "On Pledge";

• or in other cases provided for by the pledge agreement concluded between the parties.

2. The Parties are familiar with Article 60 of the Law of the Kyrgyz Republic "On Pledge", which provides that foreclosure on the items of pledge is carried out after the Pledgeholder sends a notice of the commencement of the foreclosure procedure. At the same time, in accordance with the agreement reached, the period during which the Pledgor (Debtor) must voluntarily perform the obligation, including payment of all amounts of debt, is 15 (fifteen) days from the moment of delivery to the Pledgor (Debtor) of the said notice.

Confirmation of delivery of the notice by hand is a receipt of receipt of the notice by the Pledgor (Debtor), and confirmation of delivery is the documents of the postal office on sending the notice with acknowledgment of receipt, or a notarized statement of the Pledgor (Debtor) on receipt of the fax.

3. In the event of foreclosure, the Pledgor is obliged to ensure, within 3 (three) days, the transfer of the item of pledge to the Pledgeholder or its representative, namely: ______ on the basis of a written acceptance-transfer act (paragraph 4 of Article 61 of the Law of the Kyrgyz Republic "On Pledge").

4. The Pledgeholder, after taking possession of the item of pledge, is obliged to:

• ensure the preservation of the item of pledge;

• take bona fide measures to sell the item of pledge in such a way that it is most advantageous for all participating parties, taking into account the real conditions of reality.

5. In accordance with the agreement reached, the Pledgeholder has the right to apply the following method of sale of the pledged property:

• has the right to sell the item of pledge by directly concluding a purchase-sale agreement with third parties;

• or by conducting public auctions in accordance with the legislation. At the same time, the Pledgeholder has the right to dispose of the item of pledge without the consent of the Pledgor as its representative on the basis of this agreement.

6. After the Pledgeholder receives the amounts for its claims in the amount in which these claims exist at the time of payment of the corresponding amounts, including reimbursement of other expenses caused by foreclosure on the item of pledge and its sale, and/or acquisition of the item of pledge, the Pledgeholder is obliged to:

• draw up a notice on termination of the procedure of foreclosure on the item of pledge and its sale;

• if the item of pledge was subject to state registration, register this notice with the body that carried out the state registration of the pledge.

7. From the day of the commencement of foreclosure on the pledged property and sale of this property, the Pledgor is obliged to ensure the vacating of the occupied non-residential premises at the request of the Pledgeholder within 30 days from the day of presentation of such a request.

8. The sale of the item of pledge by the method provided for by this Agreement, which resulted in the satisfaction of the Pledgeholder's claims, entails the termination of the Pledgor's (Debtor's) obligations under the obligation secured by the pledge.

9. Neither Party may unilaterally change the procedure of foreclosure or otherwise refuse the procedure of foreclosure on the item of pledge established by the Agreement (Agreement).

10. Everything that is not provided for by this Agreement is governed in accordance with the current legislation of the Kyrgyz Republic.

11. The costs of drafting and concluding this Agreement are borne by the Pledgor.

Legal addresses, details and signatures of the parties:

National Bank of the Kyrgyz Republic		OJSC/CJSC "Commercial Bank"
Bishkek, Umetaliev St., 101		Bishkek, ______ St.
		Correspondent account with the NBKR No. ______
		NBKR BIC No. ______
		TIN No. ______
		OKPO No. ______
		State Tax Inspectorate Code: ______
Position ______		Position ______
(signature) ______ L.S.		(signature) ______ L.S.

Appendix 5

PLEDGE AGREEMENT No. ______
(Rights of claims under loan agreements) to the Loan Agreement on the issuance of a loan/tranche No. _______ dated ______ year

Bishkek		"___" ______ year

The National Bank of the Kyrgyz Republic, hereinafter referred to as the "National Bank" or the "Pledgeholder", represented by ______, acting on the basis of the Law "On the National Bank of the Kyrgyz Republic" and Resolution of the Board of the National Bank dated ______, on the one hand, and ______, hereinafter referred to as the "Bank" or the "Pledgor", represented by ______, acting on the basis of ______, on the other hand, hereinafter jointly referred to as the "Parties", have concluded this Pledge Agreement on rights of claims under loan agreements (hereinafter - the Agreement) as follows:

1. Subject of the agreement

1.1. The Pledgeholder provided the Pledgor with a credit line in the amount of ______ (amount in words) som. The final repayment period of the loan and accrued interest thereon occurs within the timeframes specified in the Agreement on opening a credit line dated ______ year No. ______ (hereinafter - the Agreement) and the Loan Agreement No. ______ dated ______ year (hereinafter - the Loan Agreement).

1.2. To secure the performance of the Pledgor's obligations under the Agreement and the Loan Agreement, the Pledgor transfers to the Pledgeholder rights of claims (hereinafter - the Items of pledge) under loan agreements concluded between the Pledgor and its client-borrowers (hereinafter - loan agreements). The specific list of loan agreements, the right of claim under which is provided as a pledge, is specified in Appendix 1 to this Agreement.

1.3. The pledge value of the Items of pledge at the time of signing this Agreement, taking into account the application of the discount coefficient in the amount of ______, is ______ (amount in words) som.

1.4. The Pledgor has no right to dispose of the Items of pledge specified in paragraph 1.2. of this Agreement, including their provision as a subsequent pledge, without the consent of the Pledgeholder.

2. Terms of the agreement

2.1. The Pledgor confirms to the Pledgeholder that at the time of concluding this agreement the Items of pledge meet the following requirements:

1) the loan agreements are concluded in compliance with the legislation of the Kyrgyz Republic, and the law applicable to the said loan agreements is Kyrgyz law;

2) obligations to the Pledgor under the said loan agreements arise from a resident of the Kyrgyz Republic;

3) the loan agreements, as well as the pledge agreements concluded in accordance with the said loan agreements, do not contain restrictions on the transfer of the rights of claims of the creditor/pledgeholder to a third party;

4) the property rights (rights of claims) belong to the Pledgor on the basis of the loan agreements and are not encumbered by other obligations of the Pledgor, there are no disputes and claims presented in the established procedure in relation to them, and no consent or permission of a third party is required for their alienation;

5) the loans, the rights of claims under which are the Items of pledge under this Agreement, are classified as unclassified assets (except for assets under supervision) in accordance with the Regulation on classification of assets and corresponding deductions to the reserve for covering potential losses and damages, approved by the Resolution of the Board of the National Bank of the Kyrgyz Republic, and are not restructured;

6) the loans, the rights of claims under which are the Items of pledge under this Agreement, correspond to the characteristics provided for in the Recommendations on forming a portfolio of loans corresponding to certain characteristics, approved by the Resolution of the Supervisory Committee of the National Bank dated 16.06.2011 No. 12/2.

2.2. The Pledgor confirms to the Pledgeholder that at the time of concluding this Agreement, the organization/individual acting as the Pledgor's borrower under the loan agreements meets the following requirements:

1) the organization or individual has no more than 10% of the Pledgor's shares (if any at all), and the Pledgor has a share in the authorized capital of the organization in the amount of no more than 10% of its authorized capital or has no more than 10% of the organization's shares (if any at all); the individual is not an insider or affiliated person of the Pledgor;

2) is a resident of the Kyrgyz Republic.

2.3. The Items of pledge remain in the ownership of the Pledgor without the right of disposal until the Bank fulfills all obligations under the Loan Agreement.

3. Rights and obligations of the parties

3.1. Rights and obligations of the Pledgeholder:

3.1.1. To check the documentary and actual presence, volumes and condition of the Pledgor's rights of claims under loan agreements.

3.1.2. To demand from the Pledgor the cessation of any encroachment on the Items of pledge that threatens them with loss or reduction in their value.

3.1.3. To demand from the Pledgor the restoration or replacement of the Items of pledge or the provision of additional security in case of their loss or reduction in their value.

3.1.4. To demand from the Pledgor early performance of the obligations secured by these Items of pledge, if the Items of pledge are lost, as well as if the Parties have not reached an agreement on the restoration or replacement of the Items of pledge, or additional security.

3.1.5. To demand from the Pledgor early performance of the obligations specified in paragraphs 1.1. and 1.2. of this Agreement, and if its demand is not satisfied, to foreclose on the Items of pledge in the following cases:

1) in case of violations by the Pledgor of the terms, requirements and provisions of the Agreement and the Loan Agreement;

2) in case the Pledgor has not paid the debt or violated the deadline for payment of the debt under the Loan Agreement, including debt on the principal amount of the Loan, accrued interest thereon, penalty (fines and penalties) and other payments;

3) in case of violation by the Pledgor of the requirements or provisions of this Agreement;

4) in case of violation by the Pledgor of the rules of preservation, replacement or restoration of the Items of pledge;

5) in case of loss of the Items of pledge, including due to circumstances for which the Pledgor is not responsible, as well as a reduction in the value of the Items of pledge, if the Pledgor has not replaced or restored the Items of pledge, or has not provided additional security in accordance with the requirements of this Agreement;

6) violation by the Pledgor of the rules on subsequent pledge, obligations for the preservation of the Items of pledge, obligations to warn the Pledgeholder about the rights of third parties to the Items of pledge;

7) in other cases provided for by this Agreement or the legislation of the Kyrgyz Republic.

3.1.6. In the case when the amount received from the sale of the Items of pledge is insufficient for the full satisfaction of the Pledgeholder's claims, to receive the missing amount from other property of the Pledgor, which may be foreclosed in accordance with the legislation of the Kyrgyz Republic.

3.1.7. In the event that the Pledgor or a third party obstructs the transfer of the Items of pledge to the Pledgeholder, to take legal actions necessary to obtain the property from the Pledgor or a third party.

3.1.8. To transfer (for compensation or gratuitously) its rights under this Agreement to third parties.

3.1.9. To exercise control over the implementation of this Agreement and request information necessary for it to implement control functions, check the presence and condition of the Items of pledge.

3.1.10. To have other rights provided for by this Agreement.

3.2. Rights and obligations of the Pledgor:

3.2.1. To immediately notify the Pledgeholder of the occurrence of a threat of loss or reduction in the value of the Items of pledge.

3.2.2. To perform actions necessary to ensure the validity and legality of the Items of pledge.

3.2.3. To inform the Pledgeholder in writing about actions that led to the reduction, modification, termination, loss of the Items of pledge no later than 5 working days from the day of the above actions.

3.2.4. To inform the Pledgeholder about changes that have occurred with the Items of pledge, about possible violations by third parties or claims of third parties to these rights (Items of pledge) within three days from the moment the Pledgor becomes aware of this.

3.2.5. At the request of the Pledgeholder, within three days, to provide it with the opportunity to familiarize itself with any documentation concerning the Items of pledge, to provide any other information about the Items of pledge necessary for the Pledgeholder.

3.2.6. To bear the risk of loss or reduction in the value of the Items of pledge and in case of loss or occurrence of other circumstances that led to depreciation, change, loss of the Items of pledge or non-compliance of the Items of pledge with the requirements of this Agreement, to provide, with the consent of the Pledgeholder, other security equivalent in value to the value of the Items of pledge, within the timeframes provided for in paragraph 4.2. of this Agreement.

3.2.7. To ensure access of the Pledgeholder's representatives to the location of the rights of claims (Items of pledge), as well as the location of the pledge security of the Item of pledge, for the purpose of monitoring their presence, condition and conditions of their maintenance.

3.2.8. To notify the Pledgeholder of changes in its location, legal status, composition of shareholders and management of the Bank and other changes from the day of these changes.

3.2.9. Not to alienate, in whole or in part, the Items of pledge, encumber it with any obligations or otherwise dispose of the Items of pledge.

3.2.10. If during the term of this Agreement the Items of pledge cease to meet the requirements of paragraphs 2.1.-2.3. of this Agreement, as well as other requirements of the Pledgeholder, to perform the actions provided for in subparagraph 3.2.6. of this Agreement.

3.2.11. When making changes and additions to the loan agreements that are the Items of pledge under this Agreement, and to the pledge agreements that ensure the performance of the Loan Agreements, to inform the Pledgeholder in writing about the changes and additions no later than 5 working days from the day of making changes and additions to the relevant agreements.

3.2.12. At the request of the Pledgeholder, within 10 (ten) working days from the day of receipt of this request, to transfer to the Pledgeholder the originals of the loan agreements on the Items of pledge and the originals of the pledge agreements on the said loan agreements with all necessary and attached documents.

3.2.13. To comply with the requirements established by the Pledgeholder for pledge security and in case of deviation from them, to provide additional pledge within the period specified in paragraph 4.2. of this Agreement.

3.2.14. To bear other obligations provided for by this Agreement.

3.2.15. To inform the Pledgeholder by the 5th (fifth) day of each month about the fulfillment by the Pledgor's borrowers of the terms of the loan agreements that are the Items of pledge under this Agreement, and the state of security for them and provide a report on them in accordance with Appendix 2.

3.3. Foreclosure on the Items of pledge is carried out out of court in accordance with the terms of this Agreement. The Pledgor guarantees and gives its full consent to the out-of-court procedure for foreclosure on the Items of pledge and out-of-court sale of the Items of pledge regardless of their characteristics and composition in the event of non-performance or improper performance of the obligations assumed under the Loan Agreement and this Agreement.

3.4. The Pledgor has the right at any time before the Pledgeholder sells the Items of pledge, which may be carried out in accordance with this Agreement, to perform the obligation secured by this pledge or that part of it, the performance of which is overdue.

4. Procedure for replacing items of pledge

4.1. During the term of this Agreement, there may be a decrease in the total value of the Items of pledge specified in paragraph 1.3. of this Agreement due to:

• expiration of the terms of performance of their obligations by the Pledgor's borrowers under loan agreements, the rights of claims under which are the Items of pledge under this Agreement;

• performance by the Pledgor's borrowers of their obligations under loan agreements according to debt repayment schedules, including early repayment;

• non-compliance of the Items of pledge with the requirements of this Agreement;

• loss of security under loan agreements that are the Items of pledge under this Agreement and in other cases.

4.2. During the term of this Agreement, the Pledgeholder will periodically revalue the total value (taking into account the relevant pledge coefficients applied by the Pledgeholder) of rights of claims under loan agreements and other types of pledge (if any) that are the Items of pledge under the pledge agreements related to the Loan Agreement.

If, based on the results of the revaluation, it is revealed that the total value (taking into account the relevant pledge coefficients applied by the Pledgeholder) of rights of claims under loan agreements that are the Items of pledge is less than 100 (one hundred) percent of the current outstanding balance of the Pledgor's debt to the Pledgeholder under the loan received, according to the Agreement on the provision of a credit line and the Loan Agreement, then the Pledgeholder sends the Pledgor a corresponding demand-notice on the need to provide additional pledge security.

The Pledgor, within 5 (five) working days from the day of receipt of the corresponding demand-notice of the Pledgeholder on the need to provide additional pledge security, undertakes to provide the Pledgeholder with additional pledge security in the form of rights of claims under loans up to an amount not lower than the required one specified in the corresponding demand-notice of the Pledgeholder, and to execute, as well as register, the Agreement on the provision of additional pledge, or to repay the corresponding part of the loan received by the Pledgor from the Pledgeholder under the Loan Agreement.

At the same time, in the case of other types of pledge, the Pledgeholder has the right to calculate the amount of additional pledge security required to be provided taking into account the total value of other types of pledge (with the application of relevant pledge coefficients). The Pledgeholder has the right not to require the Pledgor to provide additional pledge security in accordance with the third paragraph of this clause, if other types of pledge (taking into account the relevant pledge coefficients applied by the Pledgeholder) cover the current outstanding balance of the Pledgor's debt to the Pledgeholder under the loans received according to the Loan Agreement.

5. Responsibility of the parties

5.1. In case of non-performance or improper performance of obligations under this Agreement, the Parties shall compensate each other for all caused losses in accordance with the legislation of the Kyrgyz Republic.

5.2. In case of non-performance by the Pledgor of the obligations provided for in paragraph 4.2. of this Agreement, the Pledgor shall pay the Pledgeholder a penalty in the amount of _______% of the total value of the Items of pledge according to paragraph 1.3. of this Agreement for each day of non-performance of its obligations.

5.3. Compensation for losses and payment of the penalty does not release the guilty party from performing the obligations provided for by this Agreement and the Loan Agreement on the provision of a loan.

6. Procedure for foreclosure on items of pledge

6.1. In the event of the need for foreclosure on the Items of pledge in accordance with the provisions of this Agreement, the Agreement and the Loan Agreement, the Parties have agreed that foreclosure on the Items of pledge will be carried out out of court in accordance with the current legislation of the Kyrgyz Republic.

6.2. In the event of foreclosure on the Items of pledge, the Parties have agreed that the Pledgor has assigned its rights of claims under the loan agreements specified in paragraph 1.2. of this Agreement and Appendix 1 to this Agreement to the Pledgeholder.

6.3. When foreclosing on the Items of pledge in accordance with the terms of this Agreement, the Pledgeholder also acquires the right to foreclose on the Items of pledge (receipt of monetary claims that arise from the rights of claims pledged by the Pledgor under loan agreements that are the Items of pledge under this Agreement) and may sell the pledged property rights that are the Items of pledge, and satisfy its monetary claims under the Loan Agreement on the provision of a loan in full at their expense. At the same time, it is considered that the Pledgor has assigned the rights of the pledgeholder under the pledge agreements concluded to secure the Loan Agreements specified in paragraph 1.2. of this Agreement and Appendix 1 to this Agreement.

6.4. In the part concerning the assignment of rights of claim under loan agreements that are the Objects of pledge, as well as the rights of the pledgeholder under the pledge agreements securing the said loan agreements, this Agreement is concluded with a suspensive condition in accordance with Article 173 and Chapter 18 of the Civil Code of the Kyrgyz Republic. The rights of claim under the said loan agreements, as well as the rights to enforce against the objects of pledge under the said loan agreements, pass to the Pledgeholder on the day following the commencement of enforcement against the Objects of pledge specified in clause 1.2 of this Agreement and Appendix 1 to this Agreement.

6.5. The Pledgor undertakes and guarantees that it is a surety (guarantor) of its borrowers under the loan agreements specified in clause 1.2 of this Agreement and Appendix 1 to this Agreement, and undertakes to the Pledgeholder to be liable for the performance by its borrowers of obligations under the said loan agreements fully and jointly and severally with its borrowers under the said loan agreements.

Acting as a surety (guarantor) of its borrowers under the loan agreements specified in clause 1.2 of this Agreement and Appendix 1 to this Agreement, the Pledgor is liable to the Pledgeholder to the same extent as the Pledgor's borrowers, including payment of interest, reimbursement of court costs for recovery of the debt and other losses of the Pledgeholder caused by non-performance or improper performance of the obligation by the Pledgor's borrowers.

6.6. In the event of enforcement against the Objects of pledge and transfer of rights of claim under the loan agreements specified in clause 1.2 of this Agreement and Appendix 1 to this Agreement to the Pledgeholder, the Pledgor, with the consent of the Pledgeholder, undertakes to act as the Pledgeholder's agent and undertakes in that case to accept monetary funds payable under the loan agreements specified in clause 1.2 of this Agreement and Appendix 1 to this Agreement from the Pledgor's borrowers, and to transfer the said monetary funds to the Pledgeholder's account specified in this Agreement.

At the same time, the Bank must transfer to the Pledgeholder's account monetary funds accepted before the 15th day of the month - no later than the 15th of the current month, and those accepted after the 15th day of the month - no later than the 30th day of the current month in which the repayment of monetary funds by the borrowers under the loan agreements specified in clause 1.2 of this Agreement and Appendix 1 to this Agreement occurred.

6.6.1. After transfer of monetary funds under the loan agreements specified in clause 1.2 of this Agreement and Appendix 1 to this Agreement to the Pledgeholder, the Pledgor's outstanding indebtedness under the Agreement shall be deemed repaid in the part of the transferred monetary funds. In the event that the Pledgor's borrowers have no monetary funds to repay the indebtedness under the loan agreements specified in clause 1.2 of this Agreement and Appendix 1 to this Agreement, the Pledgeholder has the right to enforce and realize the objects of pledge in accordance with the terms of the respective pledge agreements.

6.6.2. No payment is made to the Pledgor for performing the functions of the Pledgeholder's agent, in accordance with clause 6.6 of this Agreement.

7. Miscellaneous terms

7.1. The Pledgeholder has the right to terminate this Agreement unilaterally by sending the Pledgor written notice if any state/court body of the Kyrgyz Republic adopts decisions or acts restricting the Pledgeholder in its rights to possess, and/or dispose of, and/or use the Objects of pledge compared to how these restrictions are established by this Agreement, or inducing the Pledgeholder to conclude any agreement or perform any other actions for the purpose of assuming such restrictions.

7.2. Assignment of the Pledgeholder's rights under this Agreement is made in accordance with the legislation of the Kyrgyz Republic without the Pledgor's consent.

7.3. The Pledgor is not entitled to assign its rights and obligations under this Agreement to third parties without the Pledgeholder's consent.

7.4. Disputes in connection with this Agreement shall be resolved in the manner provided for by the legislation of the Kyrgyz Republic.

7.5. The terms of this Agreement may be amended and supplemented only by mutual agreement of the Parties.

7.6. The costs of executing and registering this Agreement shall be borne by the Pledgor.

7.7. In the event of reorganization or liquidation of the Parties, all rights and obligations of the parties under this Agreement pass to the successors of the Parties.

7.8. This Agreement is subject to registration with the Pledge Registration Office of the Kyrgyz Republic.

7.9. This Agreement enters into force from the moment of registration with the relevant authorized bodies in accordance with clause 7.8 of this Agreement.

7.10. This Agreement is valid until the Pledgor fully performs its obligations under the Credit agreement on the provision of credit.

7.11. This Agreement is drawn up in 3 (three) copies, having equal legal force: 1 (one) copy - for storage by the Pledgor, 1 (one) copy - for submission to the relevant authorized bodies for registration, 1 (one) copy - for storage in the National Bank of the Kyrgyz Republic.

8. Legal addresses, details and signatures of the parties

National Bank of the Kyrgyz Republic		OJSC/CJSC "Commercial Bank"
Bishkek, Umetaliev St., 101		Bishkek, _____ St.
		Correspondent account with the NBKR No. ______
		NBKR BIC No. ______
		TIN No. ______
		OKPO No. ______
		State Tax Inspectorate Code: ______
Position ______		Position ______
(signature) ______ M.P.		(signature) ______ M.P.

		Appendix 1 to the Pledge Agreement dated "_" ______ 20 No. ____

LIST of loan agreements provided as pledge

No.	Date of conclusion of the loan agreement	Loan agreement number	Currency	Nominal	Outstanding balance in national currency as of	Pledge agreement No.	Date of conclusion of the Pledge Agreement
					0.00
Quantity				amount (som)	share in %
Loans in national currency
Loans in foreign currency
Total loan portfolio

Position ______

(signature) ______ M.P.

		Appendix 2 to the Agreement on pledge of rights of claim under loan agreements dated ______ 20__ No. _______

Monthly by the 5th day of the following month

Form 2

REPORT on monitoring of collateral - rights of claim under a loan/loan portfolio (as of date)

date	month
bank

in soms

No.	Borrower-client of the Bank	Loan agreement		Pledge agreement		Date of issue	Date of repayment	Loan currency	Amount of outstanding loan balance at the beginning of the reporting month in som equivalent	Repayment of principal loan amount for the reporting month in som equivalent	Amount of outstanding loan balance at the end of the reporting month in som equivalent	Collateral		Classification category assigned to the loan for the reporting month
Date	No.	Date	No.	type	appraised value (som)
1	2	3	4	5	6	7	8	9	1	11	12	13	14	15
1								KGS
2								KGS
	Total in soms		*			*	*	KGS						*

Full name of the bank's head	signature
	seal."