(b) proceeds from the sale of all or any part of the
investment or from the partial or complete liquidation
of the investment;

(c) payments made under a contract entered into by the
investor, or its investment, including payments made
pursuant to a loan agreement;

(d) payments made pursuant to Article 1110; and

(e) payments arising under Subchapter B.

2. Each Party shall permit transfers to be made in a freely usable currency at the market rate of exchange prevailing on the date of transfer with respect to spot transactions in the currency to be transferred.

3. No Party shall require its investors to transfer, or penalize its investors who fail to transfer, the income, earnings, profits or other amounts derived from, or attributable to, an investment in the territory of another Party.

4. Notwithstanding paragraphs 1 and 2, a Party may prevent a transfer through the equitable, non-discriminatory and good faith application of its laws relating to:

(a) bankruptcy, insolvency or the protection of the rights of creditors;

(b) issuing, trading or dealing in securities;

(c) criminal or penal offenses;