Ecuador shall ensure that at all times its obligations hereunder constitute unconditional general
obligations of Ecuador ranking at least
pari passu in priority of payment with all other present and
future unsecured and unsubordinated External Indebtedness of Ecuador.
------------------------
19
Governing Law
(a)
This Bond and the Indenture shall be construed in accordance with and govemed by the law of the
State of New York.
(b)
Ecuador hereby irrevocably submits to the jurisdiction of any New York state or United States
federal court sitting in the City of New York, and any appellate court from any thereof, in any
action or proceeding arising out of or relating to the Bonds and Ecuador hereby irrevocably agrees
that all claims in respect of such action or proceeding may be heard and determined in such New
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