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Council Decision of 5 November 2002 providing further macro-financial assistance to the Federal Republic of Yugoslavia (2002/882/EC)
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Article 4U.K.
1.The borrowing and lending operations referred to in Article 1 shall be carried out using the same value date and must not involve the Community in the transformation of maturities, in any exchange or interest rate risks, or in any other commercial risk.
2.The Commission shall take the necessary steps, if [F1the ] [F2Serbia and Montenegro so requests, to ensure that an early repayment clause is included in the loan terms and conditions and that it may be exercised.
3.At the request of [F1the ] Serbia and Montenegro, and where circumstances permit an improvement in the loan's interest rate, the Commission may refinance all or part of its initial borrowings or restructure the corresponding financial conditions. Refinancing or restructuring operations shall be carried out in accordance with the conditions set out in paragraph 1 and shall not have the effect of extending the average maturity of the borrowing concerned or increasing the amount, expressed at the current exchange rate, of capital outstanding at the date of the refinancing or restructuring.
4.All related costs incurred by the Community in concluding and carrying out the operation under this Decision shall be borne by [F1the ] Serbia and Montenegro], if appropriate.
5.The Economic and Financial Committee shall be kept informed of developments in the operations referred to in paragraph 2 and 3 at least once a year.
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