AGREEMENT TO EXTEND THE DATE OF THE LAST INSTALMENT OF CAPITAL CONTRIBUTION (LJ5-05) Party A: Liuzhou OVM Joint Stock Co., Ltd. Party B: Kolcari Investments Limited WHEREAS, both parties entered into a Joint Venture Contract ( the "Contract") dated...Ovm International Holding Corp • October 16th, 1997 • Construction machinery & equip
WHEREAS, both parties entered into a Joint Venture Contract ( the "Contract") dated May 10, 1995, pursuant to which, both parties agreed to establish Liuzhou OVM Construction Machinery Co., Ltd., ("Liuzhou OVM") as a joint venture limited liability company. The Contract also provided that Party A should contribute certain production facilities and fixed assets with a value equivalent to US$1,200,000 and Party B should contribute cash in an amount equivalent to US$2,800,000. Up to the date of this Agreement, Party A completed its contribution of fixed assets as capital in full and Party B had made cash contribution by two instalments, in aggregate of US$1,960,000 to Liuzhou OVM.
