0001099958-04-000052 Sample Contracts

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SETTLEMENT AGREEMENT
Settlement Agreement • August 9th, 2004 • Santander Bancorp • National commercial banks • Puerto Rico

This SETTLEMENT AGREEMENT (the "Agreement"), dated December 30, 2003, is entered in the City of Madrid, Kingdom of Spain by and between SANTANDER BANCORP (the "Buyer"), a Commonwealth of Puerto Rico Corporation and ADMINISTRACIÓN DE BANCOS LATINOAMERICANOS SANTANDER, S.L. (the "Seller"), a limited liability company ("sociedad de responsabilidad limitada") organized under the laws of the Kingdom of Spain.

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