SIAM CITY BANK PUBLIC COMPANY LIMITED
Agreement for Pledge of Instrument Issued to Person by Name
Made at Head Office
28 December 2000
We, King Power Duty Free Co., Ltd., with offices at ▇▇▇, ▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇ ▇
▇▇▇▇, ▇▇▇▇▇▇ Wan Sub-district, Pathum Wan District, Bangkok Metropolis,
hereinafter called the "Pledgor," have made this Agreement for Pledge of
Instrument Issued to Person by Name and submitted it to Siam City Bank Public
Company Limited, hereinafter called the "Bank" to indicate that the pledgor has
pledged and the bank has accepted the pledge of
[/] Passbook of Fixed Deposit Account No. 001-3-09768-5
Baht 79,867,822.20
totaling Baht 79,867,822.20 (Seventy-Nine Million Eight Hundred Sixty-Seven
Thousand Eight Hundred Twenty-Two Baht Twenty Satang) which is an "instrument
issued to person by name," with the bank being the debtor under the said
instrument, hereinafter called the "Pledged Property" as follows :
1. The pledgor has pledged the pledged property with the bank as security
for the overdraft, loan, debts related to letter of credit, trust
receipt, issuance of all types of letter of guarantee, sale at discount
or acceptance of sale at discount of promissory note, aval, guarantee of
promissory or other debt related to the promissory note, debt related to
guarantee or any other debt that the pledgor and/or -, hereinafter called
"the said debtor" owed to the pledgee at the time of entering into this
agreement or the future debts for an amount of Baht 79,564,157.00
(Seventy-Nine Million Five Hundred Sixty-Four Thousand One Hundred
Fifty-Seven Baht Only) and all accessories thereof in accordance with
Section 748 of the Civil and Commercial Code. The pledgor agrees to pay
the maximum interest rate as announced by Siam City Bank Public Company
Limited, which at present is 14.50% p.a.
2. The pledgor confirms and promises that the pledgor owns/has the right
over the pledged property legally and that it is free of proprietary
interest or preferential right or encumbrance at the time of entering
into this agreement.
3. On the signing date of this agreement, the pledgor has recorded the
pledge on the pledged property and submitted the same to the bank for
retention.
4. The pledgor agrees not to exercise the right to withdraw the money from
the pledged property, except for performance of obligation to the bank.
5. In case the right on the pledged property becomes due prior to the due
date of performance of obligation, the pledgor consents the bank to
extend validity of the deposit further and which shall be deemed the
pledge under this agreement continuously.
6. Should there be any problem arisen regarding ownership/right of the
pledgor over the pledged property and/or the said debtor is in default of
performance of the obligation or the pledgor is in breach of any clause
herein, the bank is entitled to call the pledgor to perform the
obligation and enforce the pledge immediately.
7. Due to the fact that the bank is the debtor under the pledged property
and also the pledgee, therefore the bank and the pledgor agree that this
agreement shall be the notice of the pledge to the debtor of instrument
in accordance with Section 752 of the Civil and Commercial Code.
The pledgor, having read and understood the agreement entirely, hereunder sign
his name and affix seal, if any, in the presence of witnesses.
Viratana Suntaranond Pledgor
(Seal of King Power Duty Fee Co., Ltd.) (King Power Duty Fee Co., Ltd.)
- signed - Witness
(Mr. Chaowana Sae Tae)
- signed - Witness
(Mr. Chanwut Amnuaisin)
