arithmetic error).

section 2.9. use of proceeds

(a) the proceeds of the loan will be used to finance a [specify purpose].

(b) the bank hereby notifies the borrower, and the borrower hereby acknowledges

that it understands, that it is the policy of the board of governors of the

federal reserve system of the united states of america that extensions of credit

by international banking facilities may be used only to finance the non-united

states operations of a customer located outside the united states of america.

the borrower acknowledges that the proceeds of the loan will be used solely to

finance its operations outside the united states of america.

article 3 letter of credit

section 3.1. letter of credit. the performance by the borrower of its

obligations hereunder and under the note shall be supported and guaranteed by a

standby letter of credit issued to the bank by the guarantor in the form of

exhibit b hereto (the "guaranty"). such guaranty shall be in the amount of and

shall not expire prior to the date which is one month after the final

installment payment date.

article 4 payments

section 4.1. payment

all payments made by the borrower under this agreement or the note shall be made

to the bank without setoff or counterclaim and in freely transferable united

states dollars no later than 10: 00 a. m. (los angeles time) at crocker los

angeles for the account of the lending office. whenever any funds are due to be

paid on a day which is not a business day, the date for the making thereof shall

be extended to the next succeeding business day. interest or any other amounts

due hereunder shall be computed on the basis of the number of days elapsed until

and including such succeeding business day.

section 4.2. obligation to make payments in dollars. the obligation of the

borrower to repay the principal of and interest on the loan and the note,

together with interest thereon, pursuant to the terms of this agreement and of

the note, and the obligation of the borrower to pay all other amounts under this

agreement, shall be dischargeable only by payment in dollars, regardless of any

law, rule, regulation or statute, whether now or hereafter in existence or in

effect in any jurisdiction which affects or purports to affect such obligation.

the obligation of the borrower to make payment in doll

上一页  [1] [2] [3] [4] [5] [6] [7] [8] [9] [10]  ... 下一页  >>