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1. In accordance with Article 7 of the 10th EDF Internal Agreement, the ceiling for the annual amount of the contribution for the year n + 2 and the annual amount of the contribution for the year n + 1, as well as its payment in three instalments, shall be determined according to the procedure set out in paragraphs 2 to 7 of this Article. The instalments to be paid by each Member State shall be set in such a way as to be in proportion to that Member State's contributions to the EDF as fixed in Article 1(2) of the 10th EDF Internal Agreement.

2. The Commission shall present a proposal by 15 October of the year n, setting out:

(a) the ceiling for the annual amount of the contribution for the year n + 2;

(b) the annual amount of the contribution for the year n + 1;

(c) the amount of the first instalment of the contribution for the year n + 1;

(d) an indicative, non-binding forecast based on a statistical approach for the expected annual amounts of contributions for the years n + 3 and n + 4. The Council shall decide on this proposal by 15 November of the year n.

The Member States shall pay the first instalment of the contribution for the year n + 1 at the latest by 21 January of the year n + 1.

3. The Commission shall present a proposal by 15 June of the year n + 1, setting out:

(a) the amount of the second instalment of the contribution for the year n + 1;

(b) a revised annual amount of the contribution for the year n + 1 in line with actual needs, in cases where, in accordance with Article 7(3) of the 10th EDF Internal Agreement, the annual amount deviates from actual needs. The Council shall decide on the proposal at the latest 21 calendar days following the presentation by the Commission of its proposal. The Member States shall pay the second instalment at the latest 21 calendar days following the adoption of the Council decision.

4. By 15 June of the year n + 1, the Commission, taking into account the EIB's forecasts concerning the management and operation of the Investment Facility, including those interest rate subsidies which are implemented by the EIB, shall establish and communicate to the Council a statement of the commitments, payments, and the annual amount of the calls for contributions made in the year n and to be made in the years n + 1 and n + 2. The Commission shall provide the annual amounts of the contributions by Member State, as well as the amount still to be paid by the EDF, distinguishing between the shares of the EIB and of the Commission. The amounts for the years n + 1 and n + 2 shall be based on the capacity to deliver effectively the proposed level of resources while endeavouring to avoid significant variations between the different years, as well as significant end-of-year balances.

5. The Commission shall present a proposal by 10 October of the year n + 1, setting out:

(a) the amount of the third instalment of the contribution for the year n + 1;

(b) a revised annual amount of the contribution for the year n + 1 in line with actual needs, in cases where, in accordance with Article 7(3) of the 10th EDF Internal Agreement, the annual amount deviates from actual needs. The Council shall decide on the proposal at the latest 21 calendar days following the presentation by the Commission of its proposal. The Member States shall pay the third instalment at the latest 21 calendar days following the adoption of the Council decision.

6. The sum of the instalments relating to a certain year cannot exceed the annual amount of the contribution determined for that year. The annual amount of the contribution cannot exceed the ceiling determined for that year. The ceiling cannot be increased except in accordance with Article 7(4) of the 10th EDF Internal Agreement. A possible increase of the ceiling shall be made part of the proposals referred to in paragraphs 2, 3 and 5 of this Article.

7. The ceiling for the annual amount of the contribution to be paid by each Member State for the year n + 2, the annual amount of the contribution for the year n + 1 and the instalments of the contributions shall specify:

(a) the amount managed by the Commission; and (b) the amount managed by the EIB, including the interest rates subsidies managed by it.