EXHIBIT 10.12
MODIFICATION No. 1
TO THE PURCHASE AND SALE CONTRACT
MADE BY AND BETWEEN
GLOBAL TELECOMMUNICATIONS OPERATIONS, INC.
AND
SIEMENS AKTIENGESELLSCHAFT
(HEREIN REPRESENTED BY SIEMENS S.A.)
on May 30TH, 1997
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We, GLOBAL TELECOMMUNICATIONS OPERATIONS, INC., a corporation organized and
existing under the laws of the British Virgin Islands, according to Registry No.
170407 for International Business Companies of such jurisdiction, (hereinafter
referred to as "COMPANY"), represented by Xxxxxx Xxxxxx Xxxxxxxxx, of age,
domiciled at Santafe de Bogota, D.E., identified as appears next to his
signature, acting as attorney-in-fact, according to special power of attorney,
on the one part, and Siemens S.A., a Colombian corporation, registered in the
Chamber of Commerce of Bogota under Merchantile Registry No. 003.206, acting
herein as representative of SIEMENS AKTIENGESELLSCHAFT, a corporation duly
organized and existing under the laws of the Republic of Germany, domiciled at
Berlin and Munich, whose representation is evidenced by the Commercial Agency
and Exclusive Representation Certificate, issued by the Chamber of Commerce of
Bogota (hereinafter referred to as "CONTRACTOR"), separately represented by
Xxxxxxx Prada Xxxxxxx, of age, domiciled at Santafe de Bogota, D.E., identified
as it appears next to his signature, acting as Commercial and Administrative
Vice-president of Siemens S.A., and Xxxxxxx Xxxxx del Corral, of age, domiciled
at Santafe de Bogota, D.E., identified as it appears next to his signature,
acting as Vice-president (Substitute) of Telecommunications, have entered into
this Modification No. 1 of the Purchase and Sale Contract subscribed by and
between the above parties as of May 30th, 1997 (hereinafter referred to as
"CONTRACT"). This Modification No. 1 consists of the following clauses:
FIRST CLAUSE. GUARANTEE. The COMPANY grants CONTRACTOR, as a guarantee for the
compliance of its obligations under this Contract, a Civil Pledge with
Possession of the leasing fees. This right was granted to the COMPANY under the
following Contracts: 1) International Leasing Contract, entered into GLOBAL
TELECOMMUNICATIONS OPERATIONS INC. and EMPRESA DE TELEFONOS DE CARTAGO
S.A. EMPRESA DE SERVICIOS PUBLICOS -TELEFONOS DE CARTAGO S.A. E.S.P as of July
28th, 1997. 2) International Leasing Contract, entered into GLOBAL
TELECOMMUNICATIONS OPERATIONS INC. and BUGATEL S.A. EMPRESA DE SERVICIOS
PUBLICOS BUGATEL S.A. E.S.P as of July 28th, 1997.
SECOND CLAUSE. DOCUMENTS OF THE CONTRACT. The following documents are an
integral part of this Modification No. 1 to the CONTRACT:
1) Contract of Civil Pledge With Possession entered into the COMPANY and the
CONTRACTOR as of the same date and 2) Original leasing contracts referred to in
the FIRST CLAUSE of this Modification No. 1 of the CONTRACT.
THIRD CLAUSE. TERMINATION. In compliance with the provisions of this
Modification No. 1, the COMPANY and the CONTRACTOR acknowledge termination of
the following clauses of the CONTRACT: 1) FOURTH CLAUSE. Item f) and 2)
SIXTEENTH CLAUSE.
In witness whereof it is signed in Bogota, on July 28th, 1997.
GLOBAL TELECOMMUNICATIONS OPERATIONS, INC.
____________________________________
Xxxxxx Xxxxxx Xxxxxxxxx
X.X. 80.409.281, issued in Usaquen
(Attorney-in-fact)
(signature)
SIEMENS AKTIENGESELLSCHAFT
Represented by
SIEMENS SOCIEDAD ANONIMA
____________________________________
Xxxxxxx Prada Xxxxxxx
Commercial and Administrative Vice-president (Substitute)
____________________________________
Xxxxxxx Xxxxx del Corral
Vice-president of Telecommunications (Substitute)
