Exhibit 10.4
ACCESSORIAL AGREEMENT # 5382/A
(for granting a loan)
Almaty May 6, 2002
1) Kazkommertsbank OJSC hereinafter referred to as "the Bank" in the
person of the Deputy Chairman of the Board Xx. X. X. Xxxxxx
acting on the basis of Power of attorney # 490 dated January 31,
2002, on the one side, and
2) Karakudukmunay JSC hereinafter referred to as "the Company" in
the person of the Administrative Manager Mr. U. B. Khairov acting
on the basis of the unnumbered Power of attorney dated April 30,
2002, on the other side,
collectively referred to as "the Parties", and separately as stated above or as
"the Party", have concluded this Accessorial Agreement (hereinafter "the
Accessorial Agreement") in the context of the Agreement for establishing a
credit line # 250 dated May 6, 2002 (hereinafter "the Agreement") on the
following:
1. SUBJECT OF THE AGREEMENT
1.1. The Bank grants a loan to the Company in the amount of USD 30,000,000.00
(thirty million US dollars and 00 cents). The Loan is granted to the
Company for the period from May 6, 2002, to May 6, 2005, on terms of
security, fixed term, repayment, and compensation.
1.2. For using the loan the Company agrees to pay to the Bank a compensation
(interest) in the amount of 14 (fourteen) per cent per annum of the sum of
the loan. The amount of compensation (interest) shall be calculated on the
basis of a year consisting of 360 days, for the actual number of days of
using the loan by the Company.
2. TERMS OF CREDITING
2.1. The Loan shall be granted to the Company for the following purposes:
replenishment of floating assets.
2.2. The Loan shall be granted by the Bank by way of transferring the sum of
loan to the checking account of the Company # 00000000 in the Aktau
affiliate of Kazkommertsbank OJSC.
2.3. Repayment of the loan and payment of the compensations (interest) shall be
effected by the Company by way of transferring the money to the Bank within
the time and in the amount specified in Xxxxxxxx # 0 to the Accessorial
Agreement, which is an integral part of it.
2.4. Counting of the time for charging the compensation (interest) begins from
the moment of transferring the sum of loan to the checking account of the
Company # 05070546 in the Aktau affiliate of Kazkommertsbank OJSC by the
Bank.
2.5. The Bank shall be entitled to collect (withdraw) without acceptance any
amounts of the debt (including outstanding) of the Company under the
Accessorial Agreement by way of direct debiting the Company's bank accounts
with Kazkommertsbank OJSC, and also by way of presenting payment orders
executable without acceptance or other documents required to effect,
without acceptance and/or dispute, collection (withdrawal) of money to the
Company's bank accounts established with any banks (organizations
performing certain types of banking operations and other crediting
organization) on the territory of the Republic of Kazakstan and abroad.
3. RESPONSIBILITY OF THE PARTIES
3.1. In the event of violation of any of the obligations with regard to
repayment of the loan and/or payment of the compensation (interest), the
Company shall pay to the Bank a penalty (fine) in the following amount:
- for a violation up to 7 (seven) days inclusive, the amount of the
forfeit (fine) shall be calculated at the actual rate of
compensation (interest) under the Agreement of the amount of the
outstanding payment (grace period), providing that the Company
fulfills the outstanding (broken) obligation within the
abovementioned (seven day) period;
- for a violation over 7 (seven) days, 0.1% of the sum of the
outstanding payment for each day of the delay (not including the
abovementioned grace period).
4. FINAL PROVISIONS
4.1. The Accessorial Agreement comes into force upon signing, remains valid
until complete fulfilment of all its provisions by the Parties, and is an
integral part of the Agreement.
4.2. Any relations of the Parties in the part not regulated by the Accessorial
Agreement shall be governed by the Agreement, the provisions of which have
direct effect on the relations of the Parties under the Accessorial
Agreement. on the relations of the Parties under the Accessorial Agreement.
4.3. The Accessorial Agreement is executed in three copies having equal legal
force, two copies for the Bank and one for the Company.
5. LEGAL ADDRESSES AND BANKING DETAILS OF THE PARTIES
BANK: Kazkommertsbank OJSC - Republic of Kazakstan, Almaty, 480060, 000/X
Xxxxxxx xx., xxxxxxxxxxxxx xxxxxxx 000000000, MFO 190501926 in the Department of
payment systems of the National Bank of the Republic of Kazakstan, RNN
600400055239, residency code 1, economy sector code 4;
BORROWER: Karakudukmunay JSC - Republic of Kazakstan, Mangistau oblast, Aktau,
466200, District 3, Building 82, proceeds account 00000000, currency account
00000000 in Aktau affiliate of Kazkommertsbank OJSC, RNN 430600001175, residency
code 1, economy sector code 7.
BANK COMPANY
/s/ A. L. Dautov U. B. Khairov
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A. L. DAUTOV U. B. KHAIROV
