xxxxx; of. Type A / B; Rejection of Stores- Regarding. Ref: Supplies made by Xxxxx under RR/ IW / Lorry No....................................dated..............................to (Name of SPA) for (Consignee) at (Rail Head / destination) Covered by I/Note Nos. ..........................................dated ..- Rejection thereof. Sir, The stores supplied by Xxxxx as per details under reference and received by this office on ...................and are rejected to the extent and for the reasons as detailed hereunder:-
xxxxx; of. (i) a certified check, bank draft or wire transfer in the amount of US$3,915 (CDN$5,529); and (ii) a promissory note issued by Texstar to Xxxxxxx in the original principal amount of US$30,000 (CDN$42,375). All amounts to be delivered under subsections 3.2(a)(i), (b)(i) and (c)(ii) are to be delivered in cash in escrow pursuant to section 7.6 hereof, on the date of execution of this Agreement. The Texstar Promissory Note to be delivered under subsections 3.2(a)(ii), (b)(ii) and (c)(ii) are to be delivered at Closing. Each of the Texstar Promissory Notes issued under subsections 3.2(a)(ii), (b)(ii) and (c)(ii) shall: (i) bear interest at the per annum rate of 10%, (ii) be payable in two installments, with 50% of the original principal amount being due on April 1, 1998, and the remaining principal balance being due September 1, 1998, and (iii) be guaranteed by the Purchaser.
