Art. 1
En vigor desde 17 jul 2015
Article 1
1. The Union shall make available to Greece a loan amounting to a maximum of EUR 7 160 million, with a maximum maturity of three months.
2. Union financial assistance under this Decision shall not be made available unless liquid collateral amounting to their exposure has been provided to those Member States whose currency is not the euro under legally binding arrangements such that it is immediately payable to them to the extent required to cover any liability they may incur as a result of any failure by Greece to repay the financial assistance in accordance with its terms.
3. The financial assistance shall be made available immediately after the entry into force of this Decision.
4. The Union financial assistance shall be made available by the Commission to Greece in up to two instalments.
5. The instalments shall be released subject to the entry into force of the Loan Agreement and the Memorandum of Understanding, and compliance by Greece with the relevant policy conditionality, in accordance with Article 3.
6. Greece shall pay the cost of funding of the Union, with a mark-up of ten basis points.
7. The costs referred to in Article 7 of Regulation (EU) No 407/2010 shall be charged to Greece.
8. If required, in order to finance the loan in time, the Commission shall be allowed to borrow via a private placement of notes or via any other appropriate financial arrangement that allows it to raise funds at very short term.
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Proeli:dec_impl:2015:1181:oj#art-1