THE EQUITY CONTRIBUTION SIDE LETTER, 지분 출자 계약서, 영문 계약서

THE EQUITY CONTRIBUTION SIDE LETTER

 

 

To:        [AAA]

             [BBB]

 

 

[·], 20[·]

 

 

Dear Sirs,

 

Credit Facility Agreement dated [·], 20[·] and made between [AAA] and [BBB] as owners and The Export-Import Bank of Korea as lender (the “Facility Agreement”)

 

Words and expressions used in the Facility Agreement shall have the same meaning when used in this letter.

 

Notwithstanding the provisions of the Facility Agreement relating to the Equity Contribution, in the event that any Vessel Cost is reduced to an amount of less than US$[·] the required Equity Contribution shall be reduced by an amount equal to 20% of the amount by which the Vessel Cost is less than US$[·]. 

 

We hereby confirm that to achieve this reduction, the relevant Owner shall be entitled to use the amount of such reduction in the Equity Contribution in and towards the first Repayment Instalment in respect of the relevant Loan.

 

This letter shall be governed by and construed in accordance with the laws of England. 

 

Yours faithfully,

 

……………………………………………..

The E3_8 The Equity Contribution Side Letter.DOC

 

 

 3_8 The Equity Contribution Side Letter.DOC