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1. Non-repayable financial support under the Mechanism referred to in Article 5 shall only be granted to Ukraine after the Commission has concluded an agreement for the implementation of the Ukraine Loan Cooperation Mechanism with Ukraine (the ‘ULCM Agreement’).

2. The ULCM Agreement shall contain in particular the following elements:

(a) the obligation of Ukraine to use the non-repayable financial support under the Mechanism for the repayment of the principal, interest and any other related costs of the MFA Loan or eligible bilateral loans;

(b) the bank account details of all bilateral lenders to which payments of the non-repayable financial support under the Mechanism related to their respective bilateral loans shall be made by the Commission;

(c) for payments of the non-repayable financial support under the Mechanism related to the MFA Loan, provisions ensuring that the Union shall use those amounts to directly repay the MFA Loan;

(d) dedicated provisions reflecting Article 5(7) and ensuring that the Union shall not be held liable for any damage caused by Ukraine or by any third parties in the implementation of eligible bilateral loans, including as a consequence of the implementation of the Mechanism, and specifically where the amounts referred to in Article 4(1) vary over time or cease;

(e) the obligation of Ukraine to obtain from the bilateral lenders and provide, without delay, the Commission with proof of:

(i) the entry into force of each bilateral loan agreement; and (ii) the discharge of each repayment obligation, including, to the extent necessary, the applicable conversion rate used;

(f) the obligation of Ukraine to agree with each bilateral lender that any amounts provided by Ukraine to a bilateral lender to repay the bilateral loan that do not immediately discharge repayment obligations, shall remain available until such time as the repayment obligations fall due, with any interest accrued on that amount also available to be used to discharge obligations under the bilateral loan agreement;

(g) the obligation of Ukraine to accompany each payment request with:

(i) details of the remaining amounts due under each bilateral loan agreement; and (ii) details of the amounts that are available to discharge repayment obligations referred to in point (f);

(h) an express authorisation for bilateral lenders to exceptionally make a request for payment pursuant to Article 8(6), provided that the information referred to in point (g) of this paragraph is submitted by the bilateral lenders; and (i) any other requirements needed for the implementation of the Mechanism.

3. To the extent necessary, the ULCM Agreement shall be amended following the entry into force of any Commission implementing decision adopted pursuant to Article 6(4).