11. Governing Law
The Notes, and any non-contractual obligations arising out of, or in connection with, the Notes, are
governed by, and shall be construed in accordance with, English law.
12. Jurisdiction
(a) The Republic irrevocably and unconditionally agrees for the exclusive benefit of the Holders that
the courts of England are to have exclusive jurisdiction to settle any disputes which may arise out
of the Notes, and that any suit, action or proceeding arising out of the Notes (including any suit,
action or proceeding arising out of any non-contractual obligations arising out of the Notes)
(together referred to as “Proceedings”) may be brought in the courts of England.
(b) The Republic irrevocably appoints The Economic and Commercial Counsellor at the Greek
Embassy, 1A Holland Park, London W11 3TR, United Kingdom to receive service of process in
relation to any Proceeding in England.
13. Waiver of Immunity
(a) The Republic hereby irrevocably waives, to the extent permitted by applicable law and
international conventions, (i) any immunity from jurisdiction it may have in any Proceeding in the
courts of England, and (ii) except as provided below, any immunity from attachment or execution
to which its assets or property might otherwise be entitled in any Proceeding in the courts of
England, and agrees that it will not claim any such immunity in any such Proceeding.
(b) Notwithstanding the foregoing, the above waiver shall not constitute a waiver of immunity from
attachment or execution with respect to:
i. assets and property of the Republic located in the Republic;
ii. the premises and property of the Republic’s diplomatic and consular missions;
iii. assets and property of the Republic outside the Republic not used or intended to be used for
a commercial purpose;
iv. assets and property of the Republic’s central bank or monetary authority;
v. assets and property of a military character or under the control of a military authority or
defence agency of the Republic; or
vi. assets and property forming part of the cultural heritage of the Republic.
(c) For the purposes of the foregoing, “property” includes, without limitation, accounts, bank
deposits, cash, revenues, securities and rights, including rights against third parties.
(d) The foregoing constitutes a limited and specific waiver by the Republic solely for the purposes of
the Notes, and under no circumstance shall it be construed as a general waiver by the Republic or
a waiver with respect to proceedings unrelated to the Notes.
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