8. Article

EIF Direct Costs Bank Account and Expenses Bank Account As sub-accounts of the JEREMIE Bank Account, EIF shall open the EIF Direct Costs Bank Account and the Expenses Bank Account. The amounts deposited in the EIF Direct Costs Bank Account and in the Expenses Bank Account shall be exclusively utilised respectively for the payments provided under Clauses 9 and 10 below. 8.1 EIF Direct Costs Bank Account The EIF Direct Costs Bank Account shall be funded as follows. (a) An amount equal to the forecast of EIF Direct Costs expected for a given calendar year, as provided in the relevant Annual Budget, shall be debited by EIF to the JEREMIE Bank Account and credited to the EIF Direct Costs Bank Account on the first Business Day of such calendar year, or, for 2008, on the first Business Day after the Annual Budget for such year is approved in accordance with Article 10.4 of the Agreement. (b) Should on any given calendar year the actual EIF Direct Costs exceed the EIF Direct Costs Advance, as provided under Clause 9(b)(i) below, an amount equal to such excess shall be debited by EIF to the JEREMIE Bank Account and credited to the EIF Direct Costs Bank Account on the day the relevant Cost Payment Statement is approved in accordance with Clause 11 below. (c) Any amount standing to the credit of the EIF Direct Costs Bank Account at the end of any given calendar year shall reduce the annual payment due under Clause 8.1(a) above. 8.2 Expenses Bank Account The Expenses Bank Account shall be funded from time to time from the JEREMIE Bank Account, to deal with any Associated Expenses to be incurred by the JEREMIE Holding Fund. The debit of the JEREMIE Bank Account and corresponding credit of the Expenses Bank Account shall be operated by EIF, in such manner and timing appropriate to timely deal with the corresponding Associated Expenses.