Supplementary Agreement to Extend the Date of Installment Contribution (LJ9702) Party A: Liuzhou OVM Joint Stock Co., Ltd. Party B: OVM Development Limited (formerly known as "Kolcari Investment Limited") WHEREAS, both parties entered into a Joint...Supplementary Agreement to Extend the Date of Installment Contribution • April 15th, 1998 • Ovm International Holding Corp • Construction machinery & equip
WHEREAS, both parties entered into a Joint Venture Contract (the "Contract") dated May 1, 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 B should contribute cash in an amount of US$2,800,000. As of the end of fiscal year 1995, Party B had already made the cash contribution of US$2,170,000 under two installments, with the balance of US$630,000 which remains outstanding as at the date of this Agreement. Pursuant to an Agreement to Extend Date of Installment Contribution between the parties dated March 28, 1997, both parties agreed to extend the due date for the last installment up to December 31, 1997.
