EXHIBIT 10.10
SUPPLEMENT TO THE INTERNATIONAL LEASING CONTRACT
MADE AS OF AUGUST 1/ST/, 1996
BY AND BETWEEN
GLOBAL TELECOMMUNICATIONS OPERATIONS INC. AND
UNITEL S.A. E.S.P. FORMER TELEYUMBO S.A. E.S.P.
DATE: Yumbo, April 19/th/, 1998
XXXXXX: Xxxxxx Xxxxxx Xxxxxxxxx. Attorney-in-fact of GLOBAL TELECOMMUNICATIONS
OPERATIONS INC.
LEASEE: Xxxxx Xxxxxxx Xxxxxxxx Xxxxxx. Legal Representative (Substitute) for
Sociedad UNITEL S.A. E.S.P., formerly referred to as EMPRESA DE TELEFONOS DE
YUMBO S.A. EMPRESA DE SERVICIOS PUBLICOS - TELEYUMBO S.A. E.S.P.
SUBJECT: Modify clause no. TWELVE - LEASE- and clause no. THREE - ARREARS, of
the International Leasing Contract entered into the parties hereto as of August
1/st/, 1996.
SUBSTITUTE CLAUSES. Clause TWELVE - LEASE- "LEASEE agrees to pay to XXXXXX, in
an unconditional way and without any requirements for XXXXXX during the term of
this Contract, a specific lease in the following manner: a) FOUR HUNDRED EIGHTY-
SIX THOUSAND NINE HUNDRED FORTY-THREE UNITED STATES AMERICAN DOLLARS AND EIGHTY-
ONE CENTS (US$486,943.81) on April 20/th/, 1998; b) 20 installments in the
amount expressed in the following table for 10 years:
INSTALLMENT DATE TOTAL US$
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1 May 28/th/, 1998 332,429.89
2 July 28/th/, 1998 229,409.67
3 January 28/th/, 1999 224,327.92
4 July 28/th/, 1999 219,246.16
5 January 28/th/, 2000 214,164.41
6 July 28/th/, 2000 209,082.65
7 January 28/th/, 2001 204,000.90
8 July 28/th/, 2001 198,919.14
9 January 28/th/, 2002 193,837.39
10 July 28/th/, 2002 188,755.63
11 January 28/th/, 2003 183,673.88
12 July 28/th/, 2003 178,592.12
13 January 28/th/, 2004 173,510.37
14 July 28/th/, 2004 168,428.62
15 January 28/th/, 2005 163,346.86
16 July 28/th/, 2005 158,265.11
17 January 28/th/, 2006 153,183.35
18 July 28/th/, 2006 148,101.60
19 January 28/th/, 2007 143,019.84
20 July 28/th/, 2007 137,938.17
and c) Four installments every six months on the following amounts:
INSTALLMENT DATE TOTAL US$
------------------------------------------------------------------------------------------
21 January 28/th/, 2008 24,321.96
22 July 28/th/, 2008 24,321.96
23 January 28/th/, 2009 24,321.96
24 July 28/th/, 2009 24,321.96
for two years following expiration of the 20 installments above mentioned. These
amounts shall be enforceable within a period of five (5) working days following
expiration of each installment.
PARAGRAPH TWO. Invalid.
PARAGRAPH THREE. This Contract shall not require installment payments for its
duration on the fiscal year 1997.
CLAUSE THIRTEEN. ARREARS. In case of arrears by LEASEE in paying the amounts
owed by virtue of this Contract, LEASEE shall pay to XXXXXX, without any
requirement whatsoever, and as a delay interest, an interest rate equal to Libor
plus (3%) yearly, calculated from the expiration date of the amount in arrears
to the date in which LEASEE has credited such payment into XXXXXX'X banking
account.
This clarifying document is an integral part of the International Leasing
Contract subscribed as of August 1/st/, 1996.
All other clauses of that Contract shall remain as they are.
This supplement shall be filed before the exchange authorities by LEASEE.
BY XXXXXX
________________________________________
GLOBAL TELECOMMUNICATIONS OPERATIONS INC.
XXXXXX XXXXXX XXXXXXXXX
I.D. No. 80.409.281, issued in Usaquen
Attorney-in-fact
(signature)
BY LEASEE
________________________________________
XXXXX XXXXXXX XXXXXXXX XXXXXX
I.D. No. 7.506.436, issued in Armenia
Legal Representative (Substitute)
UNITEL S.A. E.S.P.
