EXHIBIT 10.3
CREDIT CONTRACT
Santiage Chile, October 3, 1997, between Kentucky Foods Chile S.A., represented
by Xxxxxxxx Xxxxxxx Xxxxxxx, and Inversiones e Inmibiliaria Kyoto Limitada,
represented by Xxxxxxx Xxxxxxxx, both commercial residents are at Xxxxxxxxxx Xx.
00, Xxx Xxxxxx, Xxxxxxxx Xxxxx. The following has been agreed:
FIRST: Inversiones e Inmobiliaria Kyoto will lend Kyoto Foods Chile S.A. the
amount of $128,976,841 (*Fomento Units as of December 31, 1997) in accordance
to the laws of Book IV, Title XXXI of the Civil Law and the Law 18.010.
SECOND: The indebted is obligated to restore the amount indicated during the
course of the year 1998. This amount will earn an interest of 9% annually. In
case of late payment this amount will earn the maximum interest permitted by law
between the date that is late until the payment is received.
THIRD: For all the legal effects of this contract, all the participants are all
residents of the city of Santiago.
It is stated that the legal capacity of Xxxxxxx Xxxxxxxx Xxxxx to represent
Inversiones e Incmobilibaria Kyoto Limitada is established in the public
documents dated November 30, 1995, notarized by Xxxx Xxxxxxxxx Xxxx, notary
public of Santiago Chile.
The legal capacity of Xxxxxxxx Xxxxxxx Xxxxxxx to represent Kentucky Foods Chile
S.A. is approved by the Public Documents dated October 21, 1994, notarized by
the Notary Public of Santiago Chile Xxxxxxx de xx Xxxxxx Fabres, referred to in
the recorded of proceeding of the Directors of Sociedad Kentucky Foods Chile,
S.A., dated October 23, 1995, notarized by Xxxx Xxxxxxxxx Laso.
/S/ XXXXXXX XXXXXXXX XXXXX /S/ XXXXXXXX XXXXXXX CORRENO
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Xxxxxxx Xxxxxxxx Xxxxx Xxxxxxxx Xxxxxxx Correno
Inv. e Inmob. Kyoto Ltda. Kentucky Foods Chile S.A.
