Ohne Titel

Fixed Portion

Amortization of investments divided into monthly and individualized steps.

SPV elaborates monthly measurement on the last day of the month of completed and executed works.

SPV will forward the measurement bulletin to the municipality for analysis on the first business day of the following month.

The municipality has a period of 5 days to verify the executions

Upon completion of the works, the municipality will issue the certificate to pay the amortization.

The municipality will forward the certificate of payment to the Custodian Agent within 2 business days.

The payment of the amortization related to the investment will be made in the month following the completion and availability of the works.

The payment deadline of the amortization installment will be number of months between the beginning of the payments and the last month of the contract.

The interest rate for the investment remuneration used in the calculation

of the amortization installment is 1% per month

The present value for the amortization calculation will be the value of the monthly stage of the works.

It will use the price table for calculation criteria.

The invoice issued by the SPV to the municipality, must be the portion related to the reference month.

Upon receipt and acceptance of the investment stage by the municipality, this portion will be included in the subsequent measurements until the end of the amortization period.

Upon receipt of the payment release certificate by the municipality, the depositary agent must make the payment within 2 days.

Monthly the custodian Agente will forward the cash flow report and the balance of the deposit account to the SPV and municipality.