Exhibit 10.3
Additional agreement
to the Agreement for establishing a credit line # 250 dated May 6, 2002
City of Almaty June 6, 2002
(1) Kazkommertsbank OJSC hereinafter referred to as "the Bank" in the
person of the Managing Director Xx. Xxxxx Xxxxxxx acting on the basis
of Power of attorney # 557 dated May 31, 2002, on the one side, and
(2) Closed joint-stock company Karakudukmunay hereinafter referred to as
"the Borrower" in the person of the General Director Mr. N. D.
Klinchev acting on the basis of the Charter on the other side,
hereinafter collectively referred to as "the Parties" and separately as
mentioned above or as "the Party" have concluded this Additional agreement
(hereinafter "the Additional agreement") to the Agreement for establishing a
credit line # 250 dated May 6, 2002 (hereinafter "the Agreement") on the
following:
1. The Parties agreed to change Xxxxxxxx # 0 to the Agreement and
formulate it as set forth in Xxxxxxxx # 0 to this Additional
agreement, which is an integral part of it.
2. The Parties agreed to change Xxxxxxxx # 0 to the Agreement and
formulate it as set forth in Xxxxxxxx # 0 to this Additional
agreement, which is an integral part of it.
3. This Additional agreement is an integral part of the Agreement
and comes into effect upon signing by authorized representatives
of the Parties.
4. This Additional agreement is executed in three copies having
equal legal force: two copies for the Bank and one for the
Borrower.
LEGAL ADDRESSES AND BANKING DETAILS OF THE PARTIES:
BANK: Kazkommertsbank OJSC - Republic of Kazakstan, Almaty, 480060, 000/X
Xxxxxxx xx., xxxxxxxxxxxxx xxxxxxx 000000000, MFO 190501926 in the Department of
payment systems of the National Bank of the Republic of Kazakstan, RNN
600400055239, residency code 1, economy sector code 4;
BORROWER: Karakudukmunay
JSC - Republic of Kazakstan, Mangistau oblast, Aktau, 466200, District 3,
Building 82, proceeds account 00000000, currency account 00000000 in Aktau
affiliate of Kazkommertsbank OJSC, RNN 430600001175, residency code 1, economy
sector code 7.
BANK COMPANY
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Xxxxxxxx # 0
to Additional agreement
dated June 6, 2002
to Agreement for establishing
a credit line # 250 of May 6, 2002
Xxxxxxxx # 0
to Agreement for establishing
a credit line # 250 of May 6, 2002
Methods of ensuring fulfillment of the Company's Obligations under the Agreement
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Item No. Method of ensuring Date by which security it to be
provided
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1. Pledge of money on the savings account with Kazkommertsbank OJSC in June 26, 2002
the amount of 2,597,000,000 (two billion five hundred ninety-seven
million tenge)
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2. Guarantee of Chaparral Resources, Inc. June 26, 2002
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3. Pledge of all shares of Closed joint-stock company Karakudukmunay June 26, 2002
belonging to Central Asia Petroleum (Guernsey) Limited (shares of
first issue numbering 100,000 [one hundred thousand], nominal value
of one share is 75 (seventy five) tenge, NIN KZ1C32430216).
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Bank Borrower
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Xxxxxxxx # 0
to Additional agreement
dated June 6, 2002
to Agreement for establishing
a credit line # 250 of May 6, 2002
Xxxxxxxx # 0
to Agreement for establishing
a credit line # 250 of May 6, 2002
Additional (including financial) Obligations of the Company:
1. Obtaining a written consent of Shell Capital Services Limited to conclusion
of the Agreement for establishing a credit line between Kazkommertsbank
OJSC and Closed joint-stock company Karakudukmunay with a limit of
33,000,000 (thirty three million) US dollars within 51 days of concluding
this Agreement;
2. Obtaining a written consent of The Law Debenture Trust Corporation p.l.s.
to participation of Central Asia Petroleum (Guernsey) Limited in the
general shareholders meeting of the Closed joint-stock company
Karakudukmunay that was held on April 19 and 20, 2002, and also confirming
the right of Central Asia Petroleum (Guernsey) Limited to vote with the
shares pledged to The Law Debenture Trust Corporation p.l.s. within 51 days
of concluding this Agreement;
3. Signing a debt subordination agreement within 51 days of concluding this
Agreement.
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Bank Borrower
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