EXHIBIT 10.44
(TRANSLATION)
THAI MILITARY BANK PUBLIC COMPANY LIMITED
Made at Thai Military Bank Public Company Limited
7 May 1997
Whereas we, J.M.T. Duty Free Co., Ltd., the Borrower, having obtained credit
line for Letter of Credit, Import Loan for a sum of Baht 100,000,000.(One
Hundred Million Baht) from Thai Military Bank Public Company Limited; by means
of this memorandum, we agree and consent to pay all fees charged by the Bank to
us as follows:
1. Front End Fee, at the rate 0.25% of the total credit line, payable to
the Bank accordingly on the signing date of this memorandum;
equivalent to Baht 250,000.(Two Hundred Fifty Thousand Baht)
If we fail to pay the said fee within the date specified in the above stated
condition, we consent the Bank to charge interest at the rate of 18.5% p.a.
(Penalty Rate) of the said amount from the date of default of payment to the
date on which such payment is made in full.
As evidence, we hereunder sign our name in the presence of witnesses.
Signed: Mr. Viratana Suntaranond for J.M.T. Duty Free Co., Ltd.
(Authorized Director to Sign Binding the Company)
Signed Witness
-----------------------------------
Mr. Sommitr Nithimethiwallop
Signed Witness
-----------------------------------
Miss Wichuda Pitakphol
