7/31/2019 NOC Conditions

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Please note that our NOC is subject to the following conditions:

That commitment and agreement executed between the PEL and Financial institutes willnot affect/derogate the commitments and undertaking already made with BankIslami

Pakistan limited.

Issuance of similar No Objection Certificate(s) by other first pari passu charges holders. Without prejudice to any exclusive securities held or to be held by us. Financial Institutions shall not either individually or in conjunction with any other entity

initiate any legal action against the company without prior written intimation to us.

The charges created in favor of BankIslami Pakistan Limited being Trustee to SUKKUK IIssue, over the present and future plant and machinery of the company shall not be

adversely affected in any manner.

The JPP charge over the Assets shall at all times remain capped at PKR.9,866,500,000/-.The Financial Institutions shall take our prior no objection in writing if they wish to

revise this amount of the JPP charges upward.

The company shall ensure that all existing individual charges registered in favor of theFinancial Institutions shall be vacated by or before the registration of the JPP charge.

NOC does not give any better rights or privileges to the creditor under the JPP comparedto BankIslami Pakistan Limited as a security trustee of SUKKUK Issue I under pari passu

arrangements.