Contract Between ATL Offshore GmbH & Co. MS “JUIST” KG
Xxxxxxxx
Xxxxxxx
XXX
Xxxxxxxx XxxX & Xx. XX “JUIST” KG
-
hereinafter called ATL -
and
Suresh
Capital Maritime Partners Germany GmbH, Leer
-
hereinafter called SCMP –
it is
agreed the following:
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1.
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ATL
entered into a Shipbuilding Contract with Fincantieri Cantieri Navali
Italiani S.p.A. for the supply of one Anchor Handling Tug with the Hull
No. 6160 (hereinafter called the
“Vessel”).
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2.
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SCMP
will provide financial services including but not limited to the
procurement of equity during the building period to
ATL.
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3.
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HL
will receive for these services an amount of Є 500.000,00 plus
VAT. This amount will be paid in four equal installments of Є
125.000,00 each at the following
events:
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a.
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Beginning
of Steel Cutting
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b.
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Installation
of the Main Engines
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c.
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Launching
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d.
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Delivery
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4.
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Costs
for traveling will be reimbursed against
invoices.
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Hamburg,
7th
September 2007
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/S/
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/S/
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ATL
Offshore GmbH & Co.
“ISLE
OF JUIST” KG
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Suresh
Capital Maritime Partners
GmbH |
Side Letter No.
I
to the
Contract dated 07th
September 2007
-
hereinafter called “the Contract” -
between
ATL
Offshore GmbH & Co. “ISLE OF JUIST” KG
-
hereinafter called ATL -
and
Suresh
Capital Maritime Partners Germany GmbH, Leer,
-
hereinafter called SCMP –
it is
agreed the following:
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1.
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SCMP
is entitled to subcontract any services described in the contract to
either Suresh Capital Consulting and Finance LTD. or Maritime Funding
Group, LLC. Before providing any services for ATL, the before
mentioned companies (hereinafter called subcontractors) need to be
accepted by ATL for each single service they shall
provide. Such written (by letter, fax or e-mail) acceptance by
ATL shall not unreasonable
withheld.
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2.
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The
accepted subcontractor is entitled to directly provide services to and
directly receive payments (for provided services) from ATL. All
payments made by ATL to any subcontractor to be deducted from and not to
exceed, neither by a single transfer nor by sum of all accumulated
transfers, the contractual amount of Є
500.000,00.
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3.
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SCMP guarantees that
the terms of payments, i.e., four equal installments of Є
125.000,00 each, to remain due at following events of the new building
process of the concerning vessel/new
building:
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a.
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Beginning
of Steel Cutting
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b.
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Installation
of the Main Engines
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c.
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Launching
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d.
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Delivery
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Hamburg,
8th
September 2007
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/S/
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/S/
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ATL
Offshore GmbH & Co.
“ISLE
OF JUIST” KG
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Suresh
Capital Maritime Partners
GmbH |
Side
Letter No. 2
to the
contract dated 7th
September 2007
-
hereinafter called “the Contract” -
between
ATL
Offshore GmbH & Co. MS “JUIST” KG, Leer,
-
hereinafter called “ATL” -
and
Suresh
Capital Maritime Partners GmbH, Leer,
-
hereinafter called “SCMP” -
Premble
ATL and
SCMP entered into the Contract, in which both parties agreed that SCMP will
provide financial services to ATL. With Side Letter No. 1 dated
8th
September 2007 SCMP and ATL agreed that SCMP is entitled to subcontract any
services to either Suresh Capital Consulting & Finance Ltd. or Maritime
Funding Group LLC and that the before mentioned subcontractors of SCMP are
entitled to receive payments directly from ATL. According to Side
Letter No. 1 the before mentioned subcontractors need to be accepted by
ATL.
Both
parties agree the following:
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1.
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The
preamble is integral part of this Side Letter No.
2.
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2.
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In
addition to the already entitled subcontractors (reference is made to Side
Letter No. 1 as of 8th
September 2007) SCMP is entitled to subcontract any services to Xxxxxxx
Investments Limited, Stamford, USA.
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3.
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ATL
hereby accepts (1) Xxxxxxx Investments Limited, Stamford, USA,
(2) Suresh Capital Consulting & Finance Ltd., Limassol, Cyprus,
and (3) Maritime Funding Group LLC as subcontractors for all services
provided under the Contract on behalf of
SCMP
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4.
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SCMP
can subcontract services to more than one of the three entitle
subcontractors. If SCMP subcontracts services to more than one
subcontractor SCMP will assure that the total amount will neither exceed
EUR 500.000,00 in total nor EUR 125.000,00 for each
installment. SCMP is aware of the fact that ATL is not in the
position to check the adequacy of the invoices prepared by Suresh Capital
Consulting & Finance Ltd., Maritime Funding Group LLC and/or Xxxxxxx
Investments Limited. Therefore, SCMP confirms that all invoices
will be checked prior to the presentation to
ATL.
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5.
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This
agreement shall be retroactively effective from 8th
September 2007.
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Leer,
September 16, 2008
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/S/
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/S/
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ATL
Offshore GmbH
on
behalf of
ATL
Offshore GmbH & Co.
MS
“JUIST” KG
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Suresh
Capital Maritime Partners
GmbH |
In
addition to the above Contract (Financial Services Agreement), dated September
7, 2007, between ATL Offshore GmbH & Co. “Isle of Amrum” KG and Suresh
Capital Maritime Partners Germany GbmH with Side Letter No. 1, dated September
8, 2007, and Side Letter No. 2, dated September 16, 2008, there are eight
additional Contracts to provide financial services with side letters that have
identical terms and provisions as the above contract. Such Contracts
and side letters are as follows:
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·
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Contract
(Financial Services Agreement), dated September 7, 2007, between ATL
Offshore GmbH & Co. “Isle of Baltrum” KG and Suresh Capital Maritime
Partners Germany GbmH with Side Letter No. 1, dated September 8, 2007, and
Side Letter No. 2, dated September 16,
2008.
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·
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Contract
(Financial Services Agreement), dated September 7, 2007, between ATL
Offshore GmbH & Co. “Isle of Juist” KG and Suresh Capital Maritime
Partners Germany GbmH with Side Letter No. 1, dated September 8, 2007, and
Side Letter No. 2, dated September 16,
2008.
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·
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Contract
(Financial Services Agreement), dated September 7, 2007, between ATL
Offshore GmbH & Co. “Isle of Langeoog” KG and Suresh Capital Maritime
Partners Germany GbmH with Side Letter No. 1, dated September 8, 2007, and
Side Letter No. 2, dated September 16,
2008.
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·
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Contract
(Financial Services Agreement), dated September 7, 2007, between ATL
Offshore GmbH & Co. “Isle of Xxxxxx” KG and Suresh Capital Maritime
Partners Germany GbmH with Side Letter No. 1, dated September 8, 2007, and
Side Letter No. 2, dated September 16,
2008.
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·
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Contract
(Financial Services Agreement), dated September 7, 2007, between ATL
Offshore GmbH & Co. “Isle of Neuwerk” KG and Suresh Capital Maritime
Partners Germany GbmH with Side Letter No. 1, dated September 8, 2007, and
Side Letter No. 2, dated September 16,
2008.
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·
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Contract
(Financial Services Agreement), dated September 7, 2007, between ATL
Offshore GmbH & Co. “Isle of Sylt” KG and Suresh Capital Maritime
Partners Germany GbmH with Side Letter No. 1, dated September 8, 2007, and
Side Letter No. 2, dated September 16,
2008.
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·
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Contract
(Financial Services Agreement), dated September 7, 2007, between ATL
Offshore GmbH & Co. “Isle of Usedom” KG and Suresh Capital Maritime
Partners Germany GbmH with Side Letter No. 1, dated September 8, 2007, and
Side Letter No. 2, dated September 16,
2008.
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·
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Contract
(Financial Services Agreement), dated September 7, 2007, between ATL
Offshore GmbH & Co. “Isle of Wangerooge” KG and Suresh Capital
Maritime Partners Germany GbmH with Side Letter No. 1, dated September 8,
2007, and Side Letter No. 2, dated September 16,
2008.
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