't. Mitsubishi Bank (Europol $.A.
A'
TERMS AND CONDITIONS
1. Medium Terfft 1,0&n
Form
BLlater*l Loan
Borrower
B.A.T. Benelux N.V./S.A.
Lender
Mitsubishi Bank (Europe) S.A.
Amount
Nr 300,000.000
Drawdown Partod
6 months starting in May 1990
minimum Orawdown
BF 100,000,000
maturity
5 years
interest Rate
Fixed Rote Of 10.304 per annum
calculated on the actual number of
days elapsed on a 360 days year
basis
Interest P$yT-.ent Date t
Annually in arrears
Repayment
Bullet at Maturity
Prepayment
h1lowed at each Interest Reviewing
Date under the Interest Rate Swap
Agreement, without penalty upon a
30 days prior notice.
Management Fee
None
CommLttment Fee
None
Taxation
All pay"ents will be mad* by the
111or-ower free and clear of any
taxes or other form of deductions
Documentat.lon
Subject to mutually satisfactory
documentation
Governing Low
Belgian Law
Jurisdiction,
Courts in Belgium
rQ
C)PV _ pRO0UCFO pURsuAmT To VII.D. OF
B.A.T INDUMIES P.L.C. MINNE50TA DEPOStfORY C1 V. P AHWAL I P3 Re ET A_L C ASE No. C 1 .94-856 5
CoNsENT JUDGMENT DATFD SISMS IN STATE OF A& SOTA ET AL.
Mittubithi Bank (EurepelS.A.
n. interest Rate Swap
Swap Countorporties
Mitsubishi Bank (Europe) S.A.
(*MSE') and BAT Benelux N.V./S.A.
('BAT')
Notional Amount
BF 300,OOD,000
Initial Exchange of
Notional Amount
None
By Fixed Rota Payer
KOS
BF Floating Rate Payer:
BAT
Starting Date
The same dots as the Drawdown
dates of the Medium Term Loan
Maturity
5 years
Early Termination
At each Interest Reviewing Date,
only in case of prepayment of the
Medium Term Loan
Interest Rate i
(a) Fixed Rate : 10.30% per annum,
calculated on the actual
number of days elapsed an a
360 days year
(b) Floating Rate : Base Rate +
0.1251 per annum calculated on
"he actual number of days
elapsed on a 360 days year
Base Rate
BIBOR (Telerate 3288)
Interest Payment Dates:
(a) Fixed Rate : annually in
arrears
(b) Floating Rate : in arrears at
each Interest Reviewing Date
Interest Reviewing
The Borrower may elect either one
Period
of 3, 6, 9 or 12 months
Taxation
All payments will be mode free and
clear of any taxes dir other form
of deductions.
Under the present Belgian Income
Tax Code, MBE will not retain
withholding tax on its fixed
interest payments to B.A.T.
Documentation
Subject to mutually satisfactory
documentation
Governing Law
Belgian Law
Jurisdiction
Courts in Belgium
Oil -r.:
V
iol:
C-D
INQ
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B.A.T INDUSTRIES P.L.C. MINNESOTA 0EpOSrroRy Copy - PRODUCED PURSUANT To VII.D. OF
CONSENT JUDGMENT DATED SISM IN STATE OF OTA, ET AL V. pMLp "M, ET A1-- CASE No. Cl-94-8565