For IIFCL, in case of direct lending the total lending by the IIFCL to any Project Company shall not exceed _____ of the Total Project Cost.  In case of takeout financing, the total lending including takeout financing by IIFCL shall not exceed _____ of the total project cost.

Exposure limit In case of direct lending the total lending by the IIFCL to any Project Company shall not exceed 20% of the Total Project Cost.  In case of takeout financing, the total lending including takeout financing by IIFCL shall not exceed 30% of the total project cost. Loans will be disbursed in proportion to debt disbursements from banks/ financial institutions. The above exposure shall further be subject to applicable regulatory norms. Mode of Funding by IIFCL under SIFTI IIFCL may fund viable infrastructure projects through the following modes: ·       Long Term Debt; ·       Refinance to Banks, Public Financial Institutions and Infrastructure focused FIs for loans granted by them. ·       Take out Financing ·       Subordinate Debt ·       Credit enhancement ·       Any other mode as permitted by the Reserve Bank of India under any specific scheme applicable to NBFC-IFCs. ·       Any other mode under a scheme/ mechanism approved by the Central Government from time to time. Further provided that IIFCL and IIFC (UK) Ltd. may convert part of their lending to equity (or equity like instruments) as part of the resolution process under the Insolvency and Bankruptcy Code (IBC) or any other regulatory mechanism.