EXHIBIT 10.17
TERMINATION OF PLEDGE AGREEMENT
The undersigned,
A. Internationale Nederlanden Bank, N.V., which has its registered
office in Amsterdam, The Netherlands, acting herein through its
Amsterdam branch, The Netherlands,
hereinafter referred to as the "Bank"
B. Reading & Xxxxx Corporation, a corporation organized and existing
under the laws of Delaware ("RBC"), Reading & Xxxxx Drilling Co.
("RBC"), Reading & Xxxxx Exploration Co. ("RBX"), Reading and Xxxxx,
Inc. ("RBI") and Reading and Xxxxx Borneo Drilling Co., Ltd.
("RBB"), RBD, RBX, RBI and RBB each being corporations organized and
existing under the laws of the State of Oklahoma and Reading & Xxxxx
(A) Pty. Ltd. ("RBA"), a company incorporated under the laws of the
State of Western Australia,
RBC, RBD, RBX, RBI, RBB and RBA hereinafter referred to collectively
as the "Pledgors" and individually as a "Pledgor"
hereby agree as follows:
Effective as of the date of execution of this Agreement, the Pledge
Agreement dated April 27, 1995 among the Bank and the Pledgors is
terminated, and the Pledgors are released from any liability or
obligation thereunder.
The Agreement shall be governed by Dutch law. Any disputes relating to it
shall be brought before the competent Dutch court, unless the Bank, as
plaintiff, chooses to institute proceedings before the foreign court
competent to hear the case in respect of the Pledgors, as defendants.
IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement
on November 29, 1995.
INTERNATIONALE NEDERLANDEN BANK, READING & XXXXX CORPORATION
BANK, N.V.
By: By:
Name: Name:
Title: Title:
READING & XXXXX DRILLING CO. READING & XXXXX EXPLORATION CO.
By: By:
Name: Name:
Title: Title:
READING AND XXXXX, INC. READING AND XXXXX BORNEO
DRILLING CO., LTD.
By: By:
Name: Name:
Title: Title:
THE COMMON SEAL OF READING & XXXXX (A) PTY. LTD.
READING & XXXXX (A)
PTY. LTD. was hereunto
affixed by authority of By:
the Board of Directors Name:
in the presence of: Title:
X. X. Xxxxx, Director
X. X. Xxxxxx, Secretary
