Author:
Sherman L. Washington (sad)
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Date Posted: 09:19:47 11/29/11 Tue
IMPORTANT! THIS IS NO POF REQUEST!?
Regards
Sandra
1.3. Transaction procedure Bank to Bank/MT103.
Both Parties confirm and agree as follows:
The exchange rate shall be based on the day’s London Morning Exchange Rate for Euros to US$.
The total amount of exchange shall be US$ 50B with Rolls and Extensions to be agreed upon.
The first tranche shall be US$ 100 Million as Tentative Schedule For Exchange based on the London Morning Exchange Rate from the rate of each Transaction and Subsequent tranches shall be agreed at time of signing contract.
Party A (US$-P) confirmed and agreed to grant a Gross bonus of (15%) Fifteen Percent and a Net bonus of (10%) Ten Percent to Party B (EURO-P) as follows:
The 5% shall be distributed as follows:
(a) Euro Provider shall pay for Party A‘s US$-P (2,5%) Two point Five percent.
Euro Provider shall pay for Party B’s (Euro/USD-side) Mandate, Facilitators and Consultants (2,5%) Two point Five percent and equally divided between both sides.
A)
After the Parties execution of the agreement, EURO-PR will assist US$-PR to open an account in the US$-PR’s name in the EURO-PROVIDER’ BANK – where all exchanges will be executed.
The US$ PROVIDER will transfer the amount of the first tranche into his own bank account in the, DEUTSCHE BANK in BARCELONA SPAIN . The EUR- PR has his certain account for this transaction
Both Bank Officers will confer with their respective Party and with each other to establish an agreed window time for the scheduled tranche and confirm the US$ amount of the tranche.
At the agreed window time; the US$-PR’s Bank Officer shall move by MT 103 transfer of the agreed amount of US$ tranche from the US$-PR’s account to the EUR-PR’s EUR account. Simultaneously the EUR-PR’s Bank Officer will move by MT 103 from the EUR-PR’s EUR account to the US$ PR’s EUR account, Euros in the converted amount equal to 85% eighty five percent) of the 100 Million US$ tranche amount.
Immediately after the Euros have been transferred to the US$-PR’s EUR account, the EUR-PR’s Bank Officer is hereby irrevocably directed to transfer, by SWIFT wire from the EUR-PR’s EURO account, EURO in the amount equal to 5% of the 100 Million US$ tranche amount to the accounts of the Beneficiary Paymasters of the Irrevocable Fee Protection Agreement, Addendum 4, as designated therein.
Rate of Exchange shall be the official Inter-Bank Exchange Rate, as of the day prior to the date of exchange.
The process described in Sections 8.5 to 8.9 shall be repeated each banking day of the EUR-PR’s bank until the total US$ 50Billion funds are depleted, or as mutually agreed by the Parties.
Each side shall be liable for their own taxes, bank charges, if any.
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