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Embed code for: DEED OF AGREEMENT
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DEED OF TRANSFER OF JOINT VENTURE TITLE OF PAYMENT This deed made and entered into this Thursday, November 17, 2016, by and between: LUKE BRACKEN, Australian Citizen, of legal agec with residence and postal address at Level 2 Number 2 Empirio place Maroochy Blvd. Maroochydore Queensland Australia 4557, hereinafter referred to as the "ASSIGNOR". And AB AZIZ BIN OSMAN, Malaysian Citizen, of legal age with residence and postal address at 10919K Telaga Batin, Seberang Takir, 21300 Kuala Terengganu, Terengganu, Malaysia, hereinafter referred to as the “ASSIGNEE” WHEREAS the ASSIGNOR has legal right and title to the Contract Payment sum of US$10,500,000.00 (TEN MILLION AND FIVE HUNDRED THOUSAND UNITED STATES DOLLARS ONLY) with the CENTRAL BANK OF SOUTH SUDAN from the original bulk fuel contract. WHEREAS, the ASSIGNOR has offered to assign and transfer 85% joint venture rights on the title and inter- est over the above CONTRACT PAYMENT, as referred in this Deed and the ASSIGNEE hereby accepts the assignment in accordance with the terms herein set forth; NOW,THEREFORE, for and in consideration on the foregoing premises and the sum of US$10,500,000.00 ( TEN MILLION AND FIVE HUNDRED THOUSAND UNITED STATES DOLLARS ONLY), which the ASSIGNOR hereby acknowledged to have received hereby assigns, transfers and conveys joint venture rights unto the ASSIGNEE, 85% his rights, title and interest to the aforementioned sum and appurtenant interest in the subject matter pursuant to this Agreement. The ASSIGNOR and ASSIGNEE will both appear for signing of settlement and provide their respective bank coordinateS and identification IN KUALA LUMPUR prior to the cut off date of November 30 2016. Page 1 The ASSIGNOR will receive 15% of the the total amount payable ( ONE MILLION FIVE HUNDRED THOUSAND AND SEVEN HUNDRED AND FIFTY UNITED STATES DOLLARS) directly at settlement in Kuala lumpur to his nominated Australian bank account. The ASSIGNEE will receive 85% of the total amount (EIGHT MILLION NINE HUNDRED AND NINETY NINE THOUSAND TWO HUNDRED AND FIFTY DOLLARS) into his nominated bank account and therefore after payment of the ASSIGNEE FEES will arrange for disbursement the balance to the relative partners. The ASSIGNEE will pay the processing fee amount of US$11,220 (ELEVEN THOUSAND TWO HUNDRED AND TWENTY UNITED STATES DOLLARS ONLY) payable directly on the day of settlement to the Central bank representative upon signing of the release bank documents and providing payment instructions. The Assignor and Assignee agree to a non-disclosure clause; that he will not divulge, reveal or discuss the subject matter to any party not privy to the subject matter. The ASSIGNEE and ASSIGNOR agree to these presents hereby accepts this Deed and agrees to be bound by the terms and conditions. —————————————————- ——————————————————- Mr. LUKE BRACKEN Mr.AB Aziz Bin OSMAN Page 2