Euro Area Loan Facility Act 2010


1.— In this Act—

“ Intercreditor Agreement ” means the Intercreditor Agreement regarding the pooled bilateral loans for the benefit of the Hellenic Republic which was signed by the Minister on behalf of the State on 7 May 2010, the text of which is set out in Schedule 1 ;

“ loan facility ” has the meaning assigned by section 2 ;

“Loan Facility Agreement” means the Agreement referred to in Article 2 of the Intercreditor Agreement, entered into by—

(a) the Hellenic Republic as borrower and the Bank of Greece, as agent to the borrower, on the one part, and

(b) the other Member States of the Euro Area represented by the European Commission (acting as agent for those Euro Area Member States, other than the Federal Republic of Germany) and KfW (acting in the public interest, subject to the instructions of and with the benefit of the guarantee of the Federal Republic of Germany) as lenders on the other part,

the text of which is set out in Schedule 2 ;

“ Minister ” means the Minister for Finance.