NO.1420103052018210863 CHINA EXIMBANK PBC 2018 NO. 11 TOTAL NO. 468 PREFERENTIAL BUYER’S CREDIT LOAN AGREEMENT on The Chico River Pump Irrigation Project BETWEEN THE EXPORT-IMPORT BANK OF CHINA as Lender AND THE GOVERNMENT OF THE REPUBLIC OF THE PHILIPPINES, ACTING BY AND THROUGH THE DEPARTMENT OF FINANCE as Borrower DATED April 10", 2018Contents ARTICLE 1 DEFINITIONS..... ARTICLE 2 CONDITIONS AND UTILIZATION OF THE FACILITY. ARTICLE 3 DISBURSEMENT OF THE FACILITY ARTICLE 4 REPAYMENT OF PRINCIPAL AND PAYMENT OF INTEREST ARTICLE 5 REPRESENTATIONS AND WARRANTIES BY THE BORROWER .....11 ARTICLE 6 SPECIAL COVENANTS ARTICLE 7 EVENTS OF DEFAULT... ARTICLE 8 MISCELLANEOUS .. ARTICLE 9 EFFECTIVENESS... Appendix 1 Appendix 2 Appendix 3 Appendix 4... Appendix Appendix 6. Appendix 7 Appendix Appendix Appendix 10Sy THIS PREFERENTIAL BUYER’S CREDIT LOAN AGREEMENT (hereinafter referred to as this "Agreement") is made on the 10th day of April 2018 between: THE GOVERNMENT OF THE REPUBLIC OF THE PHILIPPINES, acting by and through the Department of Finance (DOF) (hereinafter referred to as the “Borrower” having its registered office at the DOF Building, Roxas Boulevard, Malate, Manila 1004, Philippines; and THE EXPORT-IMPORT BANK OF CHINA (hereinafter referred to as the “Lender” having its registered office at No. 30, Fuxingmennei Street, Xicheng District, Beijing 100031, China: hereinafter collectively referred to as the “Parties” and individually as a “Party”, to finance the Chico River Pump Irrigation Project (hereinafter referred to as the “Project”) WHEREAS: (A) The Memorandum of Understanding (MOU) on Financing Cooperation between the Republic of the Philippines, represented by the DOF, and the Export-Import Bank of China was signed on October 20, 2016 to facilitate the promotion of financing cooperation between the Parties and utilization of the financing being extended by the Lender to the Borrower for the purpose of financing projects mutually identified and agreed upon between the Government of the Republic of the Philippines and the Government of the People’s Republic of China (hereinafter collectively referred to as the “Governments”): (B) On March 3, 2017, the Government of the Republic of the Philippines, through the Department of Foreign Affairs, sent a Note Verbale no. 17-1049 to the Government of the People’s Republic of China (PRC), through the Ministry of Commerce, related to the procedures and arrangements of the utilization of concessionary loans committed by the PRC to support priority projects of the Borrower, which was confirmed by PRC on March 8, 2017 (hereinafter referred to as the “Note Verbale”);