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UGOVOR O KRATKOROČNOM KREDITU

SHORT TERM LOAN AGREEMENT

Zaključen u Beogradu, dana 02.10.2013. godine između sledećih Ugovornih strana: 1. SOCIETE GENERALE BANKA SRBIJA AD BEOGRAD , Bulevar Zorana Đinđića 50 a/b, 11070 Beograd, MB 07552335, koju zastupa Frederic Coin, Predsednik Izvršnog odbora (u daljem tekstu: Banka) i 2. VICTORIA LOGISTIC DOO NOVI SAD , Hajduk Veljkova 11, Novi Sad, MB 20105097, koje zastupa Goran Popović, Direktor (Dužnik 1) 3. VICTORIAOIL AD ŠID , Branka Erića 2, Šid, MB 08140391, koje zastupa Zoran Mitrović, Zastupnik, (Dužnik 2 ) 4. SOJAPROTEIN AD BE ČEJ, Industrijska 1 , Bečej , MB 08114072, koje zastupa James Patrick King, Generalni Direktor (Dužnik 3 ) 5. VICTORIA GROUP AD BEOGRAD , Bulevar Mihajla Pupina 115b, Beograd-Novi Beograd, MB 17364723, koje zastupa Zoran Mitrović, Generalni i Izvršni direktor (u daljem tekstu: Jemac - platac) (u daljem tekstu svi zajedno: članice Victoria Group) Ugovorne strane saglasno konstatuju da će se sredstva iz ovog Ugovora biti iskorišćena za refinansiranje obaveza iz Ugovora o kratkoročnom revolving kreditu STRL 275/12 i to tako što će Dužnici sredstva kredita u iznosu od EUR 10.000.000,00 (slovima: desetmiliona i 00/100 evra) koristiti na sledeći način: 1. Dužnik 1 iznos od EUR 3.000.000,00 (slovima: trimiliona i 00/100 evra) 2. Dužnik 2 iznos od EUR 4.000.000,00 (slovima: četirimiliona i 00/100 evra)

Concluded in Belgrade, on 02.10.2013 by and between the following Contractual parties: 1. SOCIETE GENERALE BANKA SRBIJA AD BEOGRAD , Bulevar Zorana Đinđića 50 a/b, 11070 Beograd, Reg.No. 07552335, represented by Frederic Coin, President of the Executive Board (hereinafter: The Bank) and 2. VICTORIA LOGISTIC DOO NOVI SAD , Hajduk Veljkova 11, Novi Sad, Reg. No.20105097, represented by Goran Popović, Director (Borrower 1) 3. VICTORIAOIL AD ŠID , Branka Erića 2, Šid, Reg. No.08140391, represented by Zoran Mitrović, Representative, (Borrower 2 ) 4. SOJAPROTEIN AD BE ČEJ, Industrijska 1 , Bečej, Reg. No.08114072, represented by James Patrick King, General Manager(Borrower 3 ) 5. VICTORIA GROUP AD BEOGRAD , Bulevar Mihajla Pupina 115b, Beograd-Novi Beograd, Reg. No. 17364723, represented by Zoran Mitrović, General and Executive Director( hereinafter; The Warrantor) (jointly hereinafter: members of Victoria Group) The contractual parties jointly recognize that the funds under this Agreement shall be used for the refinancing of the obligation under Short term revolving agreement No STRL 275/12 so that the Borrowers shall use the amount EUR 10.000.000,00 (say: ten million and 00/100 euro) in the following manner: 1. Borrower 1 – the amount of EUR 3.000.000,00 (in words: three million and 00/100 euro) 2. Borrower 2 – the amount of EUR 4.000.000,00 (in words: four million and 00/100

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3. Dužnik 3 iznos od EUR 3.000.000,00 (slovima: trimiliona i 00/100 evra) Dužnik 1, Dužnik 2 i Dužnik 3 kao Solidarni dužnici i uzajmni jemci platci, preuzimaju neopozivu i bezuslovnu obavezu da, u svojstvu Solidarnog dužnika i jemca - platca, a na prvi poziv Banke, u potpunosti izmire sve dospele obaveze bilo kog od Dužnika prema Banci, u skladu sa odredbama ovog Ugovora, odnosno da je svako od njih pojedinačno odgovoran prema Banci do ukupnog iznosa iz člana 2. stava 2.1. pod a) Ugovora, uvećanog za sve pripadajuće kamate, provizije, naknade, zatezne kamate i eventualne troškove. Ugovorne strane saglasno konstatuju da će Dužnik 1 i Dužnik 2 i Dužnik 3, u daljem tekstu, tamo gde to kontekst ovog Ugovora zahteva, biti zajednički označavani kao Dužnici. Utvrdjeni iznos sredstava, svaki od Dužnika će koristiti pod istim uslovima, utvrdjenim ovim Ugovorom. PREDMET UGOVORA

Član 1. 1.1. Predmet ovog Ugovora je kratkoročni Kredit, koji, na osnovu zahteva Dužnika i Odluke Kreditnog odbora Banke od dana 30.07.2013.godine odobrava Banka (u daljem tekstu: “Kredit”). KREDIT

Član 2. 2.1. Kredit se odobrava u svemu prema sledećim uslovima: a) Ukupan iznos Kredita: EUR 10.000.000,00 (slovima: desetmiliona i 00/100 evra), u dinarskoj protivvrednosti računato po srednjem kursu Banke na dan prenosa sredstava na tekući račun Dužnika. b) Indeksiranje kredita : Banka zadržava pravo da, u toku trajanja Ugovora o kreditu, u svojim poslovnim knjigama uskladjuje iznos neotplaćenog dela kredita sa promenama srednjeg kursa NBS za

euro) 3. Borrower 3 – the amount of EUR 3.000.000,00 ( in words: three million and 00/100 euro) Borrower 1, Borrower 2 and Borrower 3 as Joint and Several Warrantors take over an irrevocable an irrevocable and unconditional obligation, as Joint and Several Debtors and Warrantors, at first call of the Bank, to full settle all due liabilities of any of the Borrower towards the Bank, in accordance with the provisions of this Agreement, i.e. that each of them is individually liable to the Bank up to the total amount under article 2, paragraph 2.1 under a) of the Agreement, increased for all related interests, commissions, fees, default interests and possible expenses. The contractual parties jointly recognize that Borrower 1, Borrower 2 and Borrower 3 shall be jointly referred to hereinafter, where the context of the Agreement so requires, as Borrowers. Each Borrower shall use the funds under the same conditions defined in this Agreement SUBJECT OF THE AGREEMENT

Article 1

1.1. The subject of this Agreement is a short term loan, granted upon application of the Borrower and the Decision of the Loan committee of the Bank dated 30.07.2013 (hereinafter: “The Loan”). THE LOAN

Article 2

2.1. The Loan has been granted in whole under the following conditions: a) Total Loan Amount: EUR 10.000.000,00 (say: ten million and 00/100 euro) in dinar counter-value, calculated at the middle exchange rate of the Bank on the date of transfer of funds on the Borrower’s current account. b) Loan indexing: During the validity of the Loan Agreement, the Bank reserves the right to adjust in its financial books the amount of outstanding portion of the loan with the variations of the median exchange rate of the NBS for the EUR. The adjustment shall be done on a

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EUR. Uskladjivanje će se vršiti svakog meseca, i to poslednjeg dana u mesecu, primenom kursa važećeg na taj dan u odnosu na kurs koji je važio poslednjeg dana u prethodnom mesecu, osim prvog meseca nakon puštanja kredita u tečaj kada se uskladjivanje vrši prema kursu koji je važio na dan plasiranja sredstava / puštanja kredita u tečaj. c) Koriš ćenje Kredita : U dinarskoj protivvrednost,i obračunatoj po srednjem kursu Banke za EUR na dan puštanja Kredita u tečaj, prenosom sredstava na račun Dužnika kod Banke u skladu sa pisanim zahtevom Dužnika, 2 (dva) radna dana pre dana povlačenja, do 11 h. Banka zadržava pravo da, u slučaju promene tržišnih uslova, pisanim putem obavesti Dužnike o promeni roka za dostavljanje Zahteva za povlačenje. d) Rok vra ćanja Kredita : Glavnica Kredita se otpla ćuje nakon isteka grejs perioda u 6 mese čnih rata , u skladu sa sledećom dinamikom: Prva rata dospeva dana 02.05.2014.godine s tim da poslednja rata dospeva dana 02.10.2014.godine , a u svemu prema anuitetnom planu koji čini sastavni deo ovog Ugovora. e) Način vra ćanja Kredita : Uplatom dinarske protivvrednosti iskorišćenih sredstava, obračunate po srednjem kursu Narodne Banke Srbije za EUR, važećem na dan otplate. U slučaju prevremene i/ili delimične otplate Kredita, iznos vraćenih sredstava biće iskorišćen sledećim redosledom: • za otplatu obračunate kamate do datuma otplate • za otplatu glavnice Kredita. f) Visina kamate : Varijabilna koja se sastoji od promenljive stope važećeg jednomese čnog Euribora uve ćanog za fiksni deo od 3,9 % , obračunata na godišnjem nivou. Banka ima pravo da navedenu varijabilnu kamatnu stopu prilagođava mesečno u skladu

monthly basis, on the last date of the month, by applying the exchange rate valid on the respective date, in relation to the exchange rate that was applicable on the last day of the previous month, except for the first month following loan disbursement, which is when the adjustment is done according to the exchange rate valid on the date of placement of funds/loan disbursement. c) Loan Disbursement: In dinar counter-value, calculated at the middle exchange rate of the Bank for the EUR on Loan release date, by transfer of funds onto the account of the Borrower at the Bank, in accordance with a written request of the Borrower 1, 2 and 3 presented 2 (two) working days prior to withdrawal of funds, by 11 a.m. at the latest. In case of changes of market conditions, the Bank keeps the right to inform the Borrower in writing, about changing of the period for the submission of the Request. d) Period and Maturity of disbursement: The principal amount shall be reimbursed after expiration of 6 month grace period , in 6 monthly installments, in compliance with the following dynamics: The first installment becoming due on 02.05.2014 and the last installment falling on 02.10.2014, all pursuant to repayment schedule which makes the integral part to this Agreement. e) Reimbursement terms: In RSD counter-value of the utilized loan funds, as per the middle National Bank of Serbia exchange rate for EUR valid on the repayment date.

In case of prepayment and/or partial repayment of the Loan, the repaid amount shall be used in following order: • for repayment of calculated interest till the repayment date • for repayment of the principal. f) Interest rate : Variable rate consists of fluctuating rate of the valid monthly Euribor increased by the fixed part of the 3,9 % , calculated annually. The Bank is entitled to adjust the stated variable interest rate on a monthly basis in accordance with the change of monthly Euribor benchmark interest

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sa promenama jednomesečne Euribor referentne kamatne stope i to na način da će se za obračun kamate koristiti vrednost referentne kamatne stope koja je važeća prvog radnog dana za tekući mesec tj. mesec u kome počinje obračun kamate. Kamata se obračunava na iznos neotplaćenog dela Kredita i dospeva za plaćanje mesečno, u svemu prema anuitetnom planu koji čini sastavni deo ovog Ugovora. g) Metod obra čuna kamate : Obračun kamate se vrši na stanje duga po Kreditu, uz primenu linearne (proste) metode, a na bazi stvarnog broja dana u toku kamatnog perioda u odnosu na godinu od 360 dana. h) Jednokratna Naknada za organizaciju Kredita: Prilikom prenosa sredstava na račun Dužnika, svaki Dužnik je dužan platiti jednokratnu naknadu u visini 0,15 % od iznosa odobrenog limita Kredita za tog konkretnog Dužnika. i) Zatezna kamata Za slučaj Dužničke docnje Banka će obračunati kamatu po stopi utvrđenoj Zakonom o visini stope zatezne kamate (“Sl. Glasnik RS” br. 119/2012). j) Ostali troškovi : Dužnici su u obavezi da refundiraju Banci sve stvarne troškove koji nastanu iz, ili mogu nastati u vezi sa realizacijom ovog Ugovora. (troškovi oko konstituisanje obezbedjenja i troškovi prinudne naplate za slučaj aktiviranja menica). k) Naknada za usluge platnog prometa Usluge platnog prometa sredstava Kredita naplaćuju se prema Tarifi Banke posebno predviđenoj za članice Victoria group važećoj na dan plaćanja. l) Porez: Sve eventualne poreske obaveze nastale iz ili u vezi sa ovim Ugovorom, uključujući i porez na obračunate prihode Banke, padaju na teret Dužnika, u skladu sa pozitivnim pravnim propisima. m) Namena Kredita : Za refinansiranje obaveza iz Ugovora o

rate, by using, for interest calculation purpose, the value of the benchmark interest applicable on the first business day for the current month i.e. the month in which the interest calculation begins. Interest rate shall be calculated for the unpaid portion of the Loan and shall become due for payment monthly, in compliance with repayment schedule which makes the integral part to this Agreement. g) Interest rate Computing method: The interest on the outstanding Loan debt is calculated using the linear (simple) rate method, on basis: interest period equals to exact number of days and Year = 360 days. h) Management one-off fee : Each Borrower is obliged to pay 0,15 % of the approved limit of the Loan amount for specific Borrower, upon the first withdrawal of the assets onto the account of the Borrower. i) Default interest In case of the Borrower’s default in payment, the Bank shall charge the interest per rate prescribed in the Law on Default Interest Rate (Official Gazette RS no. 119/2012). j) Other expenses : The Borrowers shall be obliged to refund the Bank all real expenses arising or possibly arising in relation to the implementation of this Agreement (expenses relative to constitution of collateral and enforcement collection expenses in case of bill of exchange enforcement). k) Payment Operations Fee: Loan assets payment operations services are charged according to the Bank Price List, specifically destined to members of Victoria Group, applicable on the date of payment. l) Taxes: All possible taxes arising from, or in a connection with this Agreement, including tax on calculated Bank’s incomes, shall be borne by the Borrower, pursuant to positive Law regulations. m) Purpose of the Loan : For refinancing of Short term revolving loan No. STRL 275/12 with the Bank.

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kratkoročnom revolving kreditu br. STRL 275/12 kod Banke. n) Oscilacije na deviznom tržištu Banka zadržava diskreciono pravo da, u slučaju bitnih promena i/ili visokih oscilacija na deviznom tržištu, pisanim obrazloženim obaveštenjem upućenim Dužnicima izmeni kurs puštanja sredstava u korišćenje, odnosno kurs otplate Kredita. Izmenjeni kurs će se primenjivati na dan naveden u pisanom obaveštenju Banke, bez obaveze Ugovornih strana da o tome zaključe aneks ovog Ugovora. o) Promena kamatne stope: Banka je ovlašćena da, kao posledica promene monetarne politike ili zakona, uključujući ali ne ograničavajući se na promenu obaveznih rezervi i njihovom tumačenju, menja propisanu kamatnu stopu, po kojoj je odobren predmetni kredit. Promene kreditnih uslova stupaju na snagu po isteku 7 (sedam) dana od datuma prijema ovog obaveštenja, od strane Dužnika. Dužnici su ovlašćeni da pokrenu pregovore o primeni novih uslova, u gore navedenom roku, i o postignutom dogovoru zaključe Aneks. Ukoliko Banka i Dužnici u ostavljenom roku od 7 dana ne postignu dogovor oko promene kamate, Banka će Dužnicima ostaviti rok od 45 dana da u celosti izmire sve svoje obaveze po ovom Ugovoru, u kom slučaju će Banka primenjivati ugovorenu kamatnu stopu iz člana 2 pod f). Za slučaj da Dužnici ne pokrenu pregovore o primeni novih uslova u ostavljenom roku, Banka će smatrati da su Dužnici saglasni sa promenom kamatnom stopom. OBAVEZE BANKE

Član 3. 3.1. Banka se obavezuje da Kredit koji je Predmet ovog Ugovora stavi na raspolaganje Dužnicima na način i pod uslovima definisanim ovim Ugovorom. USLOVI ZA KORIŠĆENJE KREDITA

Član 4.

4.1. Banka će staviti Kredit na raspolaganje tek

n) Volatility of the f/x market In case of main changes and/or high volatility of the f/x market, the Bank retains discretion right to change the rate of disbursement of the Loan amount, i.e. to change the rate of repayment the Loan amount, by written explanatory notice sent to the Borrowers. The changed rate shall be applied on a day specified in written notice of the Bank, without obligation of Contractual parties to sign the annex to this Agreement. o) Change in interest rate: The Bank is authorized, as consequence of change of monetary policy or law, including but not limited to the change of obligatory reserves and their interpretation, to change the prescribed interest rate, under which the respective loan has been approved. The change of lending conditions shall take effect upon expiry of 7 (seven) days from the date of receipt of this notification by the Borrower. The Borrowers are authorized to start negotiations regarding the application of new conditions within the foregoing period and to conclude an annex regarding the reached agreement. Should the Bank and Borrowers fails to reach an agreement regarding the change of interest within the 7 days period, the Bank shall leave the Borrower 45 days to fully settle their obligations under this Agreement, in which case the Bank shall apply the contractual interest as per article 2 under f). In case the Borrowers fail to start negotiations on the application of conditions within the respective period, the Bank shall consider that the Borrowers agree with the change of interest rate. OBLIGATIONS OF THE BANK

Article 3 3.1. The Bank is obliged to put the Loan subject to this Agreement at the disposal of the Borrowers under the terms and conditions defined by this Agreement. CONDITIONS FOR DISBURSING THE LOAN

Article 4

4.1. The Bank shall disburse the Loan to the Borrowers only after the Borrowers completely fulfils

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nakon što Dužnci u potpunosti ispune, svaki pojedinačno i sve zajedno, sledeće uslove: a) Obezbede i dostave Banci sledeću dokumentaciju: • Svaki Dužnik ponaosob dostavi odluku nadležnog organa o zaduženju putem Kredita sa svim ugovorenim instrumentima obezbeđenja potraživanja, • Svaki Dužnik ponaosob dostavi po 5 (pet) blanko solo menica na jedinstvenom meničnom blanketu, sa klauzulom “bez protesta”, overene i potpisane od strane ovlašćenog lica, registrovanih u skladu sa pozitivnim podzakonskim aktom i sa ovlašćenjem Banci da ih može popuniti i predati na prinudnu naplatu u slučaju neispunjenja svih ili bilo koje obaveze Dužnika po ovom Ugovoru • Svaki Dužnik ponaosob dostavi saglasnost / ovlaš ćenje (trajni nalog) za zaduženje računa Dužnika kod Banke. • Ugovor o jemstvu zaključen između Banke i Jemca – platca VICTORIA GROUP AD BEOGRAD, MB 17364723, sa svim dokumentima predviđenim tim Ugovorom, uključujući i 5 (pet) blanko solo menica na jedinstvenom meničnom blanketu, sa klauzulom “bez protesta”, overene i potpisane od strane ovlašćenog lica, registrovane u skladu sa pozitivnim podzakonskim aktom i sa ovlašćenjem Banci da ih može popuniti i predati na prinudnu naplatu u slučaju neispunjenja svih ili bilo koje obaveze Dužnika po ovom Ugovoru. • Ugovor o zalozi na pokretnim stvarima – generi čki utvr đenoj potrošnoj i zamenljivoj robi (sadašnjoj i budu ćoj robi) zaključen izmedju Banke i vlasnika robe koja je bliže opisana u specifikaciji koja predstavlja Prilog koji je sastavni deo Ugovora o zalozi, sa svim dokumentima predviđenim tim Ugovorom i dokaz da je predat Zahtev za upis založnog prava na robi u Registar zaloge kod Agencije za privredne registre. • Polisu osiguranja nad pokretnim stvarima koje su predmet zaloge (robi), sa vinkulacijom te polise osiguranja u korist Banke i dokaz da je premija osiguranja plaćena. b) Plate Banci naknadu za organizaciju

each and every of the following conditions: a) Secure and provide the Bank with following documentation: • Each Borrower shall present a decision from competent management body regarding indebtedness by means of Loan, with all contractual receivables security instruments; • Each Borrower shall submit 5 (five) blank bills of exchange each on uniform bill blanket, with “no protest” clause, validated and signed by a competent person, registered in accordance with positive secondary legislation and authorization to the Bank to fill them and submit for enforced collection in case of non-fulfillment of all or any obligations of the Borrower under this Agreement; • Each Borrower individually submits consent/authorization (standing order) for debit of Borrower account at the Bank. • Warranty Agreement concluded between the Bank and Warrantor VICTORIA GROUP AD BEOGRAD, Reg. No. 17364723, with all documents required under the respective Agreement, including 5 (five) blank bills of exchange on uniform bill blanket, with “no protest” clause, validated and signed by a competent body, registered in accordance with applicable secondary legislation and with authorization to the Bank to fill them and submit for enforced collection in case of non-fulfillment of any or all obligations of the Borrower under the respective Agreement. • Agreement on Pledge on Movables – generic consumable, replaceable merchandise (present and future merchandise) concluded between the Bank and owners of the merchandise that is described in specification which represent the Exhibit of the Pledge agreement with all documents required under the respective Agreement and proof that the Request for registration of pledge on merchandise has been submitted to the Register of Pledges of the Business Register Agency, • Insurance policy on movables to be pledged (merchandise), with assignment in favor of the Bank and proof that policy premium is paid. b) Pay to the Bank a management fee in the in accordance with Article 2 paragraph 2.1 under h) of

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Kredita u skladu sa Članom 2. stav 2.1 pod h) ovog Ugovora. 4.2. Obaveza je Dužnika da sve uslove iz ovog Člana u potpunosti ispune u roku od 2 (dva) radna dana od dana zaključenja ovog Ugovora. OBAVEZE DUŽNIKA

Član 5. 5.1. Dužnici i Jemac - platac se obavezuju da pisanim putem odmah obaveste Banku o: 5.1.1. nameravanim organizacionim promenama (uključujući ali se ne ograničavajući se na promenu poslovnog imena, poslovnog sedišta ili adrese) i statutsnim promenama odnosno Dužnici i Jemac – platac potpisivanjem ovog Ugovora preuzimaju neopozivu i bezuslovnu obavezu da neće, do potpunog izmirenja svih svojih obaveza koje proizilaze iz ovog Ugovora, bez prethodnog blagovremenog obaveštenja donositi odluke ili pokretati bilo koji postupak usmeren na prestanak, ili pristati na pokretanje i vođenje postupka, koji je usmeren na prestanak bilo kog Dužnika i / ili Jemca – platca kao pravnog lica; odnosno da neće sprovoditi statusne promene (pripajanje, spajanje ili podela) ili promene oblika privrednog društva, ulaziti u integraciju ili se konsolidovati sa bilo kojim drugim pravnim licem, kupovati ili na drugi način pribavljati sva ili značajan deo sredstava bilo kog drugog pravnog lica, prodavati, prenositi ili se na drugi način lišavati celine ili dela svoje imovine i sredstava, bilo jednom ili putem više povezanih ili nepovezanih transakcija kao i o 5.1.2. nameravanim promenama u vlasničkoj strukturi bilo koje od članica Victoria Group, ukoliko će nakon takve promene vlasničke strukture postojeći osnivači / akcionari bilo koje članice Victoria Group u ukupnom kapitalu posmatranog privrednog društva učestvovati sa manje od 51% za koje promene je neophodna saglasnost Banke. 5.1.3. bilo kakvom krivičnom, parničnom, prekršajnom, stečajnom, likvidacionom ili bilo kakvom drugom administrativnom ili sudskom postupku koji može uticati na ispunjenje obaveza po Ugovoru, a koji se pokreće ili vodi protiv bilo kog Dužnika i / ili Jemca – platca. 5.2. Dužnici i Jemac - platac se obavezuju da:

this Agreement. 4.2. The Borrowers are obliged to execute all his liabilities under this Article in due time within two (2) working days from the date of this Agreement conclusion. OBLIGATIONS OF THE BORROWER

Article 5 5.1. The Borrowers and the Warrantor engage to advise the Bank immediately in writing about: 5.1.1. Intended organizational changes (including but not limited to change of corporate name, seat or address) and status changes, i.e. the Borrowers and the Warrantor assume, by signing this Agreement, an irrevocable and unconditional obligation to refrain, until full settlement of all obligations proceeding from this Agreement, and without prior timely notification, render decision or initiate procedures aimed at cessation, or accept to initiative or conduct procedure aimed at cessation of any Borrower and/or Warrantor as legal persons; i.e. not to implement status changes (merger, acquisition or splitting) or change of company form, proceed to integration or consolidation with any other legal person, purchase or otherwise procure all or a substantial portion of funds of any other legal person, sell, transfer or other alienate the entirety or part of its property and assets, either once or through several connected or unconnected transactions, as well as about: 5.1.2. Intended ownership structure changes of any of the members of Victoria Group, in case that, following these changes, the present founders/shareholders of any members of Victoria Group shall take part with less than 51% in the total capital of the respective company, for which change a Bank consent shall be required. 5.1.3. Any such criminal, litigation, infraction, receivership, liquidation or any other administrative or court procedure which may affect the fulfillment of obligations under this Agreement, which has been initiated or conducted against any of the Borrower and/or Warrantors. 5.2. Borrowers and Warrantors jointly engage to:

5.2.1. During the utilization and repayment of the

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5.2.1. u periodu korišćenja i otplate Kredita obavljaju platni promet u zemlji i sa inostranstvom preko Banke, najmanje u obimu koji odgovara učešću Banke u kreditiranju Dužnika i Jemca - platca u odnosu na učešće drugih banaka u kreditiranju Dužnika i Jemca - platca 5.3. Dužnici i Jemac - platac se obavezuju da će, za sve vreme trajanja ovog Ugovora, pod pretnjom prpuštanja i jednostranog otkaza definisanog Članom 11. ovog Ugovora: 5.3.1. zajedno sa svim drugim privrednim društvima koja su navedena u konsolidovanim finansijskim izveštajima a koje izveštaje su Dužnici i Jemac - platac dužni da dostavljaju Banci, pridržavaju sledećih finansijskih uslova: a) (ukupne finansijske obaveze prema bankama, ilizing kućama, uvećane za data jemstva prema trećim licima van grupe i umanjene za gotovinu) / (poslovni rezultat uvećan za amortizaciju) < 5 izuzev na dan 31.12.2013. kada napred navedeni odnos mora biti manji od 8.5. b) (poslovni rezultat uvećan za amortizaciju) / Rashodi kamata > 3 Pridržavanje gore navedenih finansijskih uslova mora biti praćeno na godišnjem nivou i potvrdjeno u izveštaju nezavisnog revizora dostavljenom pre 30.08. svake godine. 5.3.2. održavati učešće kapitala u ukupnoj pasivi na nivou ne manjem od 30% od ukupne pasive svih privrednih društava koji su navedeni u konsolidovanim finansijskim izveštajima. 5.3.3. Banku pisanim putem, bez odlaganja, informisati o svim planiranim novim investicijama koje, u ukupnom iznosu na konsolidovanom nivou, prelaze iznos od EUR 10.000.000,00. 5.4. Dužnici i Jemac - platac se obavezuju da garantuju Banci najmanje ravnopravno tretiranje - rangiranje njenih potraživanja iz ovog Ugovora sa ostalim svojim obavezama prema drugim poveriocima, te da će shodno tome izvršenje obaveza koje ima prema Banci biti jednako rangirano u odnosu na sve druge obaveze Dužnika i / ili Jemca - platca.

Loan, perform payment operations inland and abroad through the Bank, at least in the volume which corresponds to the Bank share in the crediting of the Borrower and Warrantor in relation to the participation of all other banks in the crediting of the Borrower and Warrantor. 5.3. The Borrowers and Warrantors engage, throughout the validity of this Agreement, under threat of failing to act and unilateral cancellation defined in article 11 of this Agreement:

5.3.1. jointly with all other companies listed in the consolidated financial statements, which the Borrowers and Warrantor are obliged to present to the Bank, abiding the following financial conditions: a) (total financial obligations toward banks and leasing companies increased by given sureties to third persons outside the group and decreased for cash) / (business results increased by depreciation) <5 except on 31.12.2013 when mentioned ratio should be less than 8.5

b) (business result increased with depreciation) / interest expenses>3 Abiding by the foregoing financial conditions has to be monitored at annual level and confirmed in the report of an independent auditor presented before August 30 of every year. 5.3.2. Maintain share in capital in total liabilities at a level not lower than 30% of the total liabilities of all companies listed in the consolidated financial statements. 5.3.3. Advise the Bank in writing without delay of all planned new investments which, in the total amount at consolidated level exceeds EUR 10.000,000,00.

5.4. The Borrowers and Warrantor engage to guarantee the Bank at least equal treatment – ranking of their receivables under this Agreement with other obligations towards other creditors, and that the performance of obligations which they hold towards the Bank shall be equally ranked with all other obligations of the Borrowers and/or Warrantors.

Article 6

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Član 6. 6.1. Dužnici i Jemac - platac se obavezuju, da za sve vreme trajanja ovog Ugovora,: 6.1.1. dostavljaju Banci mesečne pisane izveštaje o stanju i vrednosti založene robe, potpisane i pečatirane od strane SGS Beograd d.o.o (u daljem tekstu SGS) 6.1.2. dostavljaju Banci najmanje jednom u 14 (četrnaest) dana pregled relevantnih tržišnih cena založene robe kao i preračun / revalorizaciju vrednosti založene robe u skladu sa kretanjem tržišnih cena a koji preračun mora biti potvrdjen od strane SGS-a e-mailom upućenom Banci. 6.1.3. predstavnicima Banke omoguće pun pristup skladišnom / magacinskom prostoru u kojem se nalazi uskladištena roba koja je predmet založnog prava radi, o trošku Banke, vršenja dodatne / vanredne kontrole stanja i vrednosti založene robe pod uslovom da Banka predmetnu kontrolu / inspekciju najavi najkasnije 5 (pet) dana pre dana nameravane kontrole. 6.2. Dužnici i Jemac - platac se obavezuju, pod pretnjom propuštanja i jednostranog otkaza Ugovora, da će za sve vreme trajanja ovog Ugovora održavati nivo založene robe tako da odnos vrednosti založene robe i iznosa kredita u korišćenju bude uvek najmanje 120 :100. Ukoliko vrednost založene robe, u bilo kom trenutku u toku trajanja ovog Ugovora, padne ispod gore utvrdjenog ugovorenog odnosa, Dužnici i Jemac - platac su obavezni da o tome odmah obaveste Banku i, ako ovo kršenje ugovorne obaveze ne bude ispravljeno u roku od 5 (pet) radnih dana od dana obaveštenja, Dužnici i Jemac - platac će biti u obavezi da, pod pretnjom propuštanja i jednostranog otkaza, obezbede dodatnu robu koja će biti založena u korist Banke i to u količini dovoljnom da ispravi ovo kršenje, s tim što se priprema i potpisivanje dokumentacije u vezi sa obezbedjenjem dodatne robe, uključujući i predaju zahteva Agenciji za privredne registre, mora izvršiti najkasnije u roku od 15 dana od dana saznanja da je vrednost robe pala ispod dozvoljenog

6.1. The Borrowers and Warrantor engage, throughout the validity of this Agreement to: 6.1.1. to submit to the Bank monthly written report on condition and value of pledged goods for the whole duration period of this Agreement, signed and verified by SGS Beograd d.o.o (hereinafter: SGS) 6.1.2. Submit the Bank at least once in 14 (fourteen) days a review of relevant market prices of the pledged merchandise and recalculation / revalorization of value of pledged merchandise in accordance with trends of market prices, which has to be confirmed by SGS by e-mail addressed to the Bank.

6.1.3. allow Bank representatives access to warehouse/storage area where the stocked merchandize subject to lien is located for the purpose of additional control, at Bank expenses, of the condition and value of pledged merchandise, provided that the Bank announces the respective control/inspection at least 5 (five) days prior to intended control. 6.2. The Borrowers and Warrantor engaged, under threat of failing to act and unilateral cancellation of Agreement, to maintain the present value of pledged merchandise at appropriate level, so the ratio of value of pleged merchandise and amount of the loan in use shall be at least 120:100. Should the value of the pledged merchandise drop below the foregoing established stipulated ratio, at any time during the validity of this Agreement, the Borrowers and the Warrantor shall be obliged to immediately advise the Bank accordingly and, if such a breach of contractual obligation is not remedied within 5 (five) business days from notification date, the Borrowers and Warrantor shall be obliged, under threat of failing to act and unilateral cancellation, to secure additional merchandise which shall be pledged in favor of the Bank, in quantities that are sufficient to remedy this breach, therewith, the preparation and signing of documentation relative to securing additional merchandise including the submission of request to Business Registers Agency, has to be done within 15 days of the date of awareness that the value of the merchandise has fallen below the permitted minimum, which the Bank learned by notifying the Borrower or on the basis of a report obtained from a monitoring company SGS.

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minimuma, do kojeg je banka došla putem obaveštenja dužnika ili na osnovu izveštaja dobijenog od monitoring kuće SGS-a. Ugovorne strane su saglasne da se tržišna vrednost Založene robe utvrdjuje po sledećim kriterijumima: najnovije cene sa Novosadske produktne berze za metričku tonu za predmetnu robu odnosno ukoliko se sa istom (robom) nije aktivno trgovalo na Novosadskoj produktnoj berzi u prethodnih 7 dana od dana sastavljanja izveštaja, za referentnu cenu se koristi Roterdamska spot cena za metričku tonu uvećana za EUR 60,00 po toni na ime transportnih troškova ili cena druge referentne berze u Evropi prihvatljive za Banku. 6.3. Dužnici i Jemac - platac se obavezuju, pod pretnjom propuštanja i jednostranog otkaza Ugovora, da neće, do konačnog izmirenja svih obaveza iz ovog Ugovora, nepokretnu i pokretnu imovinu koja je predmet založnog prava u korist Banke dodatno opteretiti u korist nekog drugog poverioca odnosno trećeg lica, odnosno Dužnici i Jemac - platac se obavezuju, pod pretnjom propuštanja i jednostranog otkaza Ugovora, da neće, bez prethodne saglasnosti Banke, a do konačnog izmirenja svih obaveza iz ovog Ugovora, ustupiti, prodati, preneti, raspolagati ili na drugi način otuđiti bilo koje pravo odnosno svojinsko ovlašćenje ili bilo koji njihov deo ili bilo koje drugo pravo ili interes na nepokretnoj i pokretnoj imovini koja je založena u korist Banke, radi obezbeđenja odobrenih Kredita. 6.4. Dužnici i Jemac - platac potpisom na ovom Ugovoru daju neopozivu saglasnost da u slučaju povrede obaveza koje imaju po ovom Ugovoru, Banka automatski stiče pravo da objavi povredu i drugih ugovora koje su Dužnici i / ili Jemac – platac zaključili sa Bankom, tako da automatski sa nastupanjem pravnih posledica usled povrede ovog Ugovora nastupaju i pravne posledice kod drugih ugovora osim kod Ugovora o dugoročnom kreditu br. LTL 193985 od 26.08.2010. godine. 6.5. Dužnici i Jemac - platac se obavezuju, pod pretnjom propuštanja i jednostranog otkaza Ugovora da Banci u roku od 30 dana, od dana zaključenja ovog Ugovora, dostave dokaz da je zasnovano založno pravo na robi iz. Čl. 4. stav

The contractual parties agree that the market value of the pledged merchandise shall be determined by the following criteria: latest price from the Novi Sad Commodity Exchange for the metric ton for the respective merchandise, or, in case the respective (merchandise) has not been actively traded on the Novi Sad Commodity Exchange in the past 7 days from the date of drafting of the report, as reference price shall be use the Rotterdam spot price for the metric tone increased by EUR 60,00 per tone regarding transportation costs or the price of another reference exchange in Europe, acceptable to the Bank. 6.3.The Borrowers and Warrantor engage, under threat of failing to act and unilateral cancellation of the Agreement, to refrain, until full settlement of all obligations under this Agreement, from additionally encumbering the immovable and movables subject to lien in favor of the Bank, in favor of another creditor or third person, i.e. the Borrowers and Warrantor engage, under threat of failing to act and unilateral cancellation of Agreement, to refrain, without prior consent of the Bank and until full settlement of all liabilities under this Agreement, from ceding, selling, transferring, disposing or otherwise alienating any right or property authorization or any of their part or any other right or interest on immovable and movables pledged in favor of the Bank, for the purpose of securing the approved Loans. 6.4. By signing this Agreement, the Borrower and Warrantor give irrevocable consent, in case of non-performance of obligations under this Agreement, for the Bank to automatically exercise the right to proclaim breach of other agreements which the Borrowers and/or Warrantor concluded with the Bank, so that the legal consequences in other agreements shall automatically arise with the occurrence of legal consequences as the result of breach of this Agreement, except for the Long-Term Loan Agreement LTL no. 193985 from 26.08.2010. 6.5. The Borrowers and Warrantor engage, under threat of failing to act and unilateral cancellation of the Agreement to present the Bank within 30 days from conclusion of this Agreement, a proof that a lien has been constituted on merchandise and receivables under art 4 paragraph 4.1 under a). 6.6. The Borrowers and Warrantor are obliged, under threat of failing to act and unilateral cancellation of the Agreement, to submit to the Bank new insurance policies assigned in favor of the Bank 15 days before expire of the validity of the

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4.1. pod a) 6.6. Dužnici i Jemac - platac se obavezuju, pod pretnjom propuštanja i jednostranog otkaza Ugovora, da za sve pokretne stvari koje su obezbeđenje po ovom Ugovoru, dostavljaju Banci nove polise osiguranja sa vinkulacijom u korist Banke, najkasnije 15 dana pre isteka važenja postojećih polisa. 6.7. Dužnici i Jemac platac se pod pretnjom pod pretnjom propuštanja i jednostranog otkaza definisanog Članom 11. ovog Ugovora obavezuju da će, u slučaju nastupanja osiguranog slučaja i štete na založenoj robi a kada sredstva primljena po osnovu vinkuliranih polisa osiguranja ne pokrivaju vrednost založene robe prema poslednjem izveštaju SGS-a, biti u obavezi da Banci nadoknade razliku između vrednosti robe koju bi zalogodavci, shodno odredbama ovog Ugovora, morali da imaju kao založenu i iznosa naplaćenog od strane osiguravajućeg društva po konkretnoj vinkulaciji ili da u korist Banke založe dodatnu robu u vrednosti koja predstavlja pomenutu razliku

Član 7. 7.1. Dužnici se obavezuje da Kredit: 7.1.1. sa kamatom i eventualnim troškovima vrate u rokovima iz Člana 2. ovog Ugovora, kao i 7.1.2. da koriste Kredit isključivo za namenu opisanu u Članu 2. ovog Ugovora pa je u obavezi da Banci omogući kontrolu korišćenja Kredita dostavljanjem celokupne finansijske dokumentacije vezane za korišćenje Kredita kao i na bilo koji drugi način koji Banka u toku trajanja ovog Ugovora bude smatrala za podoban i odgovarajući. 7.2. U slučaju da Dužnici ne koriste Kredit isključivo za namenu opisanu u Članu 2. ovog Ugovora ili u slučaju da, na zahtev Banke, ne omogući Banci kontrolu korišćenja Kredita kako je opisano u prethodnom stavu, korišćeni iznos Kredita će se smatrati u celosti dospelim i Banka ima pravo da upotrebi sve instrumente obezbeđenja u cilju naplate tako dospelog potraživanja.

Član 8.

existing policies, for the movable items that are security of this Agreement. 6.7. The Borrowers and the Warrantor undertake, under threat of unilateral cancellation defined under Article 11 of this Agreement, in case of insurance event and damage on the pledged goods when the funds received per assigned insurance policies do not cover the value of pledged goods according to the last SGS report, to refund the Bank with difference between the value of pledged goods which the pledgers should have had pledged according to the provisions of this Agreement and the amount collected from the insurance company as per concrete policy assignment or to pledge in favor of the Bank additional goods in the value which covers above mentioned difference.

Article 7 . 7.1. The Borrowers are obliged to: 7.1.1. Repay the Loan with interest, fees and all the other eventual costs fully, under conditions set forth in Article 2 hereof, 7.1.2. Use the Loan strictly for the purposes specified in Article 2 of this Agreement and allow the Bank to monitor the use of the Loan by providing the Bank with complete financial statements relating to the use of the Loan and/or in any other manner which the Bank, during the entire period of validity of this Agreement, requires and considers appropriate. 7.2. In case that the Borrowers do not use the Loan strictly for the purposes described in Article 2 of this Agreement, or in the event that the Borrowers, at the Bank's request, does not permit the Bank to monitor the use of the Loan as provided for in the above paragraph, all remaining amount of the Loan in use shall be consider as due, irrespective of prescribed due date, and the Bank shall be entitled to use all collateral instruments to collect all of its due receivables.

Article 8 8.1. The Borrowers undertake the obligation to: 8.1.1. perform business legally, and to be held accountable for his business individually, 8.1.2. to implement in his business activity all regulations and rules in environment protection area and especially to plan, build, exploit, maintain and supervise all its construction sites, production units and equipment in accordance with applicable regulations on environmental protection, and apply

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8.1. Dužnici preuzimaju obavezu da: 8.1.1. posluju u svemu zakonito i da za legalnost svog poslovanja odgovoraju samostalno. 8.1.2. u svom poslovanju poštuju i primenjuju sve propise i pravila iz oblasti zaštite životne sredine, a naročito da projektuju, grade, eksploatišu, održavaju i nadziru sva svoja gradilišta, proizvodne celine i opremu u skladu sa važećim propisima o životnoj sredini, kao i da primenjuju standarde iz oblasti zaštite na radu, zaštite dece i zabrane prinudnog rada kao i zaštiti kulturne baštine. PREVREMENO VRAĆANJE KREDITA

Član 9. 9.1. Banka može prihvatiti prevremeno vraćanje iskorišćenog Kredita, ukoliko Dužnici obaveste Banku o tome pisanim putem, najkasnije 7 (sedam) radnih dana pre planiranog datuma prevremene otplate. OBEZBEĐENJE

Član 10. 10.1. Ugovorne strane saglasno potvrđuju da je, u svrhu obezbeđenja svih svojih dospelih a neplaćenih potraživanja po Kreditu, kao i troškova, naknada, provizija, eventualnih ugovornih kazni i isplata po Kreditu kao i drugih potraživanja koja nastaju ili mogu nastati na osnovu i povodom ovog Ugovora, Banka zaključenjem ovog Ugovora ovlašćena da: 10.1.1.sva svoja potraživanja iz ovog Ugovora naplati od Dužnika zaduženjem bilo kog i/ili svih dinarskih i deviznih računa Dužnika kod Banke, 10.1.2. preda na prinudnu naplatu blanko solo menice overene i potpisane od strane ovlašćenog lica sa klauzulom “bez protesta” na jedinstvenim meničnim blanketima, 10.1.3. pokrene postupak sudskog i/ili vansudskog izvršenja nad založenim pokretnim stvarima - robi iz Člana 4. ovog Ugovora 10.1.4. pokrene postupak naplate svojh potraživanja od Jemca sa kojim je Banka zaključila Ugovor o jemstvu. 10.2. Realizaciji sredstava obezbeđenja Banka će pristupiti u svemu pod uslovima i na način kako je to predviđeno ovim Ugovorom i

environment protection standards, as well as standards related to the protection at work, protection on children, ban on forced labour and protection on cultural heritage. PREMATURE REPAYMENT

Article 9 9.1. The Bank can accept premature repayment of the used Loan if the Borrowers notifies the Bank in writing accordingly, at least 7 (seven) days prior to the planned date of premature repayment. COLLATERAL

Article 10 10.1. The Parties hereby jointly confirm that, as a security for all mature outstanding revenues, costs, fees, commissions, possible penalties, payments made under the Loan and any other debts of the Borrowers owned to the Bank arising out of and/or in connection with the Loan and this Agreement, the Bank, by signing of this Agreement, is authorized to: 10.1.1. collect its receivables from the Borrower by debiting any or all of the RSD and foreign currency accounts of the Borrower at the Bank, 10.1.2. Submit for forced collection a blank solo bills of Exchange sealed and signed by an authorized person with a “no protest” clause on a uniform bill blanket, 10.1.3. Institute a court and/or out-of-court enforcement procedure over on the pledge movable items - merchandise under Article 4 hereof. 10.1.4. Institute a procedure for the collection of its receivables from the Guarantor with whom the Bank has concluded a Guarantee Agreement. 10.2. The securities shall be executed and used in accordance with the terms and Conditions provided for in this Agreement and the stated security Instruments. 10.3. If any debts arising out of this Agreement fail to be collected through the execution of the above-mentioned security instruments, the Bank shall be entitled to collect all of its due and uncollected receivables by using any other legal remedy.

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navedenim sredstvima obezbeđenja. 10.3. U slučaju da bilo koje od potraživanja koja nastanu ili mogu nastati povodom ovog Ugovora ne bude naplaćeno realizacijom navedenih sredstava obezbeđenja, Banka zadržava pravo da sva svoja nenaplaćena potraživanja naplati korišćenjem bilo kog drugog pravno raspoloživog sredstva. JEDNOSTRANI OTKAZ UGOVORA

Član 11.

11.1. Banka ima pravo da jednostrano, pisanim obrazloženim obaveštenjem upućenim Dužnicima na adrese iz ovog Ugovora, otkaže ovaj Ugovor, ukoliko nastupi bilo koja od sledećih okolnosti: a) bilo koji Dužnik ne izvrši povraćaj Kredita ili dela Kredita u roku, na način i pod uslovima definisanim ovim Ugovorom; b) Banka utvrdi da su bilo koja dokumenta ili činjenice ili okolnosti na osnovu kojih je Banka donela odluku da odobri ovaj Kredit, pogrešne, lažne, falsifikovane ili je Banka u pogledu njihovih istinitosti bila dovedena u zabludu; c) bilo koji Dužnik i / ili Jemac - platac ne obaveste pisanim putem Banku o svim činjenicama bliže navedenim u članu 5. ovog Ugovora; d) bilo koji Dužnik i / ili Jemac - platac dođe u docnju i / ili kršenje i / ili neizvršenje bilo koje obaveze po ovom Ugovoru a naročito obaveza preuzetih članovima 5., 6., 7. i 8. Ovog Ugovora i Banka oceni da je dovodena u pitanje sposobnost uredne otplate Kredita od strane Dužnika i / ili Jemca-platca; e) bilo koji Dužnik i / ili Jemac - platac dođu u kršenje i / ili u docnju sa plaćanjem bilo koje obaveze prema bilo kom drugom poveriocu i Banka oceni da je dovodena u pitanje sposobnost uredne otplate Kredita od strane Dužnika i / ili Jemca-platca; f) finansijsko stanje bilo kog Dužnika i / ili Jemca - platca se toliko pogorša, da Banka oceni da tako izmenjeno finansijsko stanje dovodi u pitanje sposobnost otplate Kredita od strane Dužnika i / ili Jemca - platca; g) banka sama dođe do saznanja da je kod bilo kog Dužnika i / ili Jemca - platca došlo do promena ili je protiv bilo kog Dužnika i / ili Jemca - platca pokrenut postupak (ukjučujući ali se ne ograničavajući i na postupak prinudne

UNILATERAL CANCELLATION OF THE AGREEMENT

Article 11.

11.1. The Bank reserves the right to unilaterally, by written notification addressed to Borrowers at addresses indicated in this Agreement, cancel this Agreement, in case of occurrence of any of the following circumstances: a) any Borrower fails to proceed to repayment of the Loan or part of the Loan within a period, and under terms and conditions defined in this Agreement; b) the Bank determines that any document or fact or circumstance based on which the Bank render the decision to approve the Loan, were false, untrue, falsified or that the Bank has been misled regarding their genuineness; c) any of the Borrower and/or Warrantor is not advised in writing by the Bank of any fact closely listed in article 5 of this Agreement; d) any of the Borrowers and/or Warrantor enters into default and/or breach and/or non-performance of any obligation under this Agreement, in particular obligations assumed under articles 5, 6, 7 and 8 of this Agreement and the Bank estimates that the Borrowers and/or Warrantor’s ability to duly repay the loan has been challenged; e) Any of the Borrowers and/or Warrantor is in breach and/or payment default with any obligation in relation to any other creditor and the Bank estimates that the Borrowers and/or Warrantor’ ability to duly repay the Loan has been challenged; f) the financial condition of any Borrower and/or Warrantor aggravates to the extent that the Bank estimates that such an altered financial condition jeopardizes the Loan repayment by the Borrowers and/or Warrantor; g) the Bank by itself learns that changes have occurred with the Borrower and/or Warrantor or that a procedure has been instituted against the Borrower and/or Warrantor ( including but not limited to enforced collection – blocked account by other creditors), which in the option of the Bank affect or might affect the ability to repay the Loan.

Article 12 12.1. In case of unilateral cancellation of the Agreement, the Borrowers and/or Warrantor shall be obliged, immediately upon written request of the Bank which shall contain appropriate calculation, to

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naplate – blokade računa od strane drugih poverilaca), koji po mišljenju Banke imaju ili mogu imati uticaja na sposobnost vraćanja Kredita.

Član 12. 12.1. U slučaju jednostranog otkaza Ugovora, Dužnici i / ili Jemac - platac će biti u obavezi da odmah po pisanom zahtevu Banke, koji će sadržavati i odgovarajući obračun, izvrše povraćaj svih odobrenih sredstava Kredita uvećanih za odgovarajaći iznos kamate u skladu sa visinom kamate i metodom obračuna kamate koji su predviđeni ovim Ugovorom s tim da Banka ima diskreciono pravo da odobri dodatni rok u kom bi Dužnici i / ili Jemac - platac izvrsili povraćaj svih odobrenih tj. dospelih sredstava po ovom ugovoru. 12.2. Banka se ovim Ugovorom istovremeno ovlašćuje da može aktivirati sve instrumente obezbeđenja u cilju naplate svojih potraživanja koja nastanu u skladu sa odredbama iz prethodnog stava. PRELAZNE I ZAVRŠNE ODREDBE

Član 13.

13.1. Dužnici i Jemac - platac su saglasni da Banka može podatke o Kreditu i zaduženju Dužnika i Jemca - platca po ovom Ugovoru dostavljati Narodnoj banci Srbije saglasno njenom Uputstvu o podacima koje banke i druge finansijske organizacije dostavljaju NBS radi uključivanja tih podataka u Kreditni informacioni sistem NBS. 13.2. Dužnici i Jemac - platac su saglasni da Banka može podatke iz Ugovora kao i podatke kojima raspolaže o povezanim licima sa Dužnicima i Jemcu - platcu proslediti u SG Paris i saglasni su da sve članice SG grupe imaju pristup tim podacima i da se mogu njima koristiti. 13.3. Dužnici i Jemac - platac prihvataju da Bančine poslovne knjige, računovodstvene knjige i druga dokumenta Banke služe kao prvi dokaz prima facie dugovanja, osim u slučaju očiglednih grešaka i ako nema prigovora, u dobroj veri, učinjenih u roku od 15 dana, od dana prijema obračuna.

proceed to refund of all approved Loan funds, increased for the appropriate interest amount in accordance with the interest amount and interest calculation method prescribed by this Agreement, therewith the Bank has the right of discretion to approve an additional period during which the Borrowers and / or Warrantors would proceed to repayment of all approved i.e. due assets under this Agreement. 12.2. The Bank is, by this Agreement, authorized to activate all instruments of security for the purpose of collection of its receivables arising in accordance with the provision described in previous paragraph. MISCELLANEOUS

Article 13 13.1 The Borrowers and Warrantor agree that the Bank may submit data on the Loan and the debit of Borrowers and Warrantor under this Agreement to the NBS, pursuant to its Instruction on data which the bank and other financial organization submit to the NBS for the purpose of including the respective data in the NBS Credit IT System. 13.2. The Borrowers and Warrantor agree for the Bank to forward data under this Agreement as well as available data on persons related with the Borrowers and the Warrantor to SG Paris and agrees for all members of SG Group to gain access to and use the respective data. 13.3. The Borrowers and Warrantor accept for the Bank’s business books, accountancy books and Bank documents to serve as first proof prima facier of the debts, except in case of obvious errors and in case no related objection in good faith, within 15 days from the date of calculation submission.

Article 14

14.1. Any omission or delay of the Bank in exercising any right under this Agreement or under any agreement or other act regulating the security instruments under this Agreement shall not be construed as Bank waiver of that right. 14.2. Should any of the provisions under this Agreement or agreements or other acts regulating the security instruments under this Agreement

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Član 14. 14.1. Propust ili zakašnjenje Banke u korišćenju bilo kog prava po ovom Ugovoru ili po bilo kom ugovoru ili drugom aktu kojim su regulisani instrumenti obezbeđenja predviđeni ovim Ugovorom, neće se tumačiti kao odricanje Banke od tog prava. 14.2. Ako bilo koja odredba ovog Ugovora ili ugovora odnosno drugog akta kojim su regulisani instrumenti obezbeđenja predviđeni ovim Ugovorom postane nezakonita, nevažeća, ništava ili nesprovodiva, zakonitost, pravna validnost i sprovodljivost ostalih odredbi ovog Ugovora neće biti dovedena u pitanje. 14.3. Banka ima pravo da se osloni na bilo koju instrukciju koju potpiše Dužnikov ovlašćeni predstavnik i koja je overena Dužnikovim službenim pečatom.

Član 15.

15.1. Ovaj Ugovor stupa na snagu danom potpisivanja od svih Ugovornih strana. 15.2. Dužnik svoja prava i obaveze iz ovog Ugovora ne može preneti na treće lice bez izričite prethodne pisane saglasnosti Banke. 15.3. Sve izmene i dopune ovog Ugovora biće važeće samo ukoliko su sačinjene u pisanoj formi, i po potrebi predhodno odobrene od strane nadležnih organa Banke i Dužnika. 15.4. Ovaj ugovor sačinjen je dovojezično na srpskom i engleskom jeziku, s tim da za potrebe tumačenja i primene verzija na srpskom jeziku ima prednost.

Član 16.

16.1. U slučaju spora u vezi sa i/ili povodom ovog Ugovora koji ne mogu rešiti dogovorom, Ugovorne strane određuju nadležnost suda u Beogradu. 16.2. Ovaj Ugovor sačinjen je u 7 (sedam) istovetnih primeraka, od kojih su 2 (dva) za Banku, po 1 (jedan) za svakog Dužnika i Jemca - platca a 1 (jedan) za administrativne i potrebe zalaganja.

become illegal, invalid, null or inapplicable, the legality, validity and applicability of the remaining provisions of this Agreement shall not be affected. 14.3. The Bank shall be entitled to rely on any instruction signed by the Borrower’s authorized representative, which has been certified by the Borrower’s official stamp.

Article 15

15.1. This Agreement shall become legally effective on the date it is duly signed by all Contractual parties. 15.2. The Borrower shall not transfer this Agreement to any third parties without the explicit written consent of the Bank. 15.3. The amendments and supplements to this Agreement shall be considered valid only if done in writing and, if necessary, upon prior approval by the Bank’s or the Borrower’s authorized body. 15.4. This Agreement has been drafted in a bilingual Serbian and English version. For the purpose of Interpretation and application of the Agreement, the Serbian version shall prevail.

Article 16

16.1. In the event of a dispute arising out of and/or in connection with this Agreement that cannot be solved amicably, the Contractual parties shall refer to the jurisdiction of a Court in Belgrade. 16.2. This Agreement is done in 7 (seven) identical specimens, 2 (two) for the Bank, 1 (one) for each of the Borrower and Warrantor and 1 (one) for administrative and pledging needs.

DUŽNIK 1 / THE BORROWER 1

BANKA / THE BANK

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____________________________________ VICTORIA LOGISTIC DOO NOVI SAD

Goran Popović Direktor/ Director

DUŽNIK 2 / THE BORROWER 2

____________________________________ VICTORIAOIL AD ŠID

Zoran Mitrović Zastupnik/ Representative

DUŽNIK 3 / THE BORROWER 3

____________________________________ SOJAPROTEIN AD BE ČEJ

James Patrick King Generalni Direktor / General Manager

JEMAC - PLATAC / THE WARRANTOR

____________________________________ VICTORIA GROUP AD BEOGRAD

Zoran Mitrović Generalni i Izvršni Direktor / General and

Executive Director

_____________________________________ Direktor u sektoru za rad sa privredom/

Key Account Manager

_____________________________________ Zdravko Kruni ć

Član Izvršnog odbora/ Member of the Executive Board Corporate