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also gives assurances to the First Party that ‫اﻻﺳﺘﺜﻤﺎر وﻋﻘﺪ اﻻﺳﺘﺜﻤﺎر وﯾﻘﻮم ﺑﺎﻟﺘﺰاﻣﺎﺗﮫ ﻋﻠﻰ أﻛﻤﻞ وﺟﮫ‬
the new investor will be bound by the pre- ‫ وﯾﻘﻊ ﻋﻠﻰ ﻋﺎﺗﻖ اﻟﻤﺴﺘﺜﻤﺮ اﻟﺠﺪﯾﺪ اﻟﺘﻘﺪم‬.‫وﺑﺪون ﺗﺄﺧﯿﺮ‬
existing obligations under the investment
license/agreement. This ultimately ensures ‫ﺑﻄﻠﺐ ﻣﺸﻔﻮع ﺑﻜﻞ اﻟﻤﺴﺘﻠﺰﻣﺎت واﻟﻤﺆھﻼت اﻟﻤﻄﻠﻮﺑﺔ ﻟﻜﻲ‬
that the new investor will complete the ‫ﯾﻜﻮن ﻣﺆھﻼ ﻛﻤﺴﺘﺜﻤﺮ ﺟﺪﯾﺪ ﺑﻤﻮﺟﺐ ﻗﺎﻧﻮن اﻻﺳﺘﺜﻤﺎر‬
project without delay. In general, the ‫ وﯾﻘﺒﻞ ﻛﻞ اﻻﻟﺘﺰاﻣﺎت اﻟﻤﺎﻟﯿﺔ واﻟﻘﺎﻧﻮﻧﯿﺔ ذات‬،‫اﻟﻮطﻨﻲ‬
assignee must apply for and receive .‫اﻟﻌﻼﻗﺔ ﺑﺎﻟﻤﺸﺮوع اﻻﺳﺘﺜﻤﺎري‬
qualification as a new investment licensee
under the National Investment Law and ‫ﻓﻲ ﺑﻌﺾ اﻷﺣﯿﺎن ﯾﻤﻜﻦ ﻟﻠﻤﻘﺮض أو اﻟﻤﻤﻮل أن ﯾﻄﻠﺐ ﻣﻦ‬
accept all legal and financial commitments ‫اﻟﻤﺴﺘﺜﻤﺮ أن ﯾﻀﻢ ﻛﻞ أﺻﻮل اﻟﻤﺸﺮوع اﻻﺳﺘﺜﻤﺎري‬
associated with the assigned project. %100 ‫وﺑﻀﻤﻨﮭﺎ اﻹﺟﺎزة اﻻﺳﺘﺜﻤﺎرﯾﺔ ﻓﻲ ﺷﺮﻛﺔ ﻣﻤﻠﻮﻛﺔ‬
‫ﻣﻦ ﻗﺒﻞ اﻟﻤﺴﺘﺜﻤﺮ وﻣﺆﺳﺴﺔ ﻟﻐﺮض ﻣﺤﺪد وھﻮ ﺗﻨﻔﯿﺬ‬
Occasionally, lenders or equity investors ‫ إن اﻟﻐﺮض ﻣﻦ ھﺬه اﻟﮭﯿﻜﻠﯿﺔ اﻟﺸﺎﺋﻌﺔ ﻓﻲ أﻏﻠﺐ‬.‫اﻟﻤﺸﺮوع‬
may also require the concerned party to ) ً‫ﺑﻠﺪان اﻟﻌﺎﻟﻢ واﻟﻤﻘﺒﻮﻟﺔ ﻓﻲ اﻟﻌﺮاق واﻟﺘﻲ ﺗﻌﺮف أﯾﻀﺎ‬
place all assets of the Project, including the (‫اﻟﺸﺮﻛﺔ ذات اﻟﻐﺮض اﻟﺨﺎص واﻟﻤﺤﺪد او ﺷﺮﻛﺔ اﻟﻤﺸﺮوع‬
investment license, in a new company that is ‫ھﻮ ﺗﺤﺪﯾﺪ ﻣﺴﺌﻮﻟﯿﺔ اﻟﻤﺴﺘﺜﻤﺮ ﻛﺸﺨﺺ طﺒﯿﻌﻲ ﻓﯿﻤﺎ ﯾﺨﺺ‬
100% owned by the investor and created for ‫اﻟﻤﺸﺮوع ﻓﻲ ﺣﺪود إﺳﺘﺜﻤﺎره إذا ﻛﺎﻧﺖ اﻟﺸﺮﻛﺔ ﻣﺤﺪودة‬
the specific purpose of undertaking the ‫ وﺗﺒﻘﻰ ﻣﺴﺌﻮﻟﯿﺔ اﻟﺸﺮﻛﺔ ذات اﻟﻐﺮض اﻟﺨﺎص‬،‫اﻟﻤﺴﺌﻮﻟﯿﺔ‬
Project. The goal of this structure – which is ‫ وﺗﺴﻤﺢ اﻟﺸﺮﻛﺔ ذات اﻟﻐﺮض‬.‫ﻣﺒﺎﺷﺮة ﻓﻲ ﺣﺪود رأﺳﻤﺎﻟﮭﺎ‬
commonly used in most countries and is ‫ﻧﻘﻞ إﺟﺎزة وﻋﻘﺪ‬/‫اﻟﺨﺎص واﻟﻤﺤﺪد ﺑﻤﻮاﻓﻘﺔ اﻟﮭﯿﺌﺔ ﺑﺘﺤﻮﯾﻞ‬
accepted in Iraq and also known as a Special ‫ ﻣﻤﺎ ﯾﺠﻌﻠﮭﺎ وﺳﯿﻠﺔ ﻣﻔﻀﻠﺔ ﻷﻏﻠﺐ‬،‫اﻻﺳﺘﺜﻤﺎر ﺑﻄﺮﯾﻘﺔ ﺳﻠﺴﺔ‬
Purpose Vehicle (SPV) – is to limit the
investor’s liability with respect to the .‫اﻟﻤﻤﻮﻟﯿﻦ واﻟﻤﻘﺮﺿﯿﻦ ﻟﺘﻤﻮﯾﻞ اﻟﻤﺸﺎرﯾﻊ اﻻﺳﺘﺜﻤﺎرﯾﺔ‬
Project, as an individual, to the extent of its
investment as long as the company is a ‫ اﻟﺘﺼﺎرﯾﺢ واﻹﺟﺎزات‬.7 ‫اﻟﻘﺴﻢ‬
limited liability company; the liability of the
SPV remains directly within the extent of the ‫ﯾﻮاﻓﻖ اﻟﻄﺮف اﻷول ﻋﻠﻰ ﻣﺴﺎﻋﺪة اﻟﻄﺮف اﻟﺜﺎﻧﻲ ﻓﻲ‬
company’s capital. SPVs and specific .‫اﻟﺤﺼﻮل ﻋﻠﻰ ﻛﻞ اﻟﻤﻮاﻓﻘﺎت واﻟﺘﺮاﺧﯿﺺ ذات اﻟﺼﻠﺔ‬
companies may, on approval by the NIC,
assign/transfer the investment license and ‫وﯾﺠﻮز ﻟﻠﻄﺮف اﻟﺜﺎﻧﻲ ﻓﻲ ﺣﺎﻟﺔ ﺣﺪوث أي ﺧﻼف ﻣﻊ‬
contract expeditiously, making them the ‫اﻟﺠﮭﺎت اﻟﺤﻜﻮﻣﯿﺔ ذات اﻟﻌﻼﻗﺔ أن ﯾﻄﻠﺐ ﻣﺴﺎﻋﺪة اﻟﻄﺮف‬
preferred means of most financiers and ‫ )أﻧﻈﺮ اﻟﺪﻟﯿﻞ اﻟﻘﺎﻧﻮﻧﻲ – اﻟﻘﺴﻢ‬.‫اﻷول ﻟﺘﺴﻮﯾﺔ ﺗﻠﻚ اﻟﺨﻼﻓﺎت‬
lenders for funding investment projects.
.(‫اﻷول‬
SECTION 7. PERMITS AND
LICENSES

The First Party agrees to help the Second
Party in obtaining all relevant approvals and
authorizations. In the event of a dispute with
any of the relevant government agencies
concerned with granting any relevant
approvals or authorizations, the Second
Party may seek the First Party’s assistance in
settling such disputes (See Legal Guide –
Section I)

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