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deficiency, and should his inability to do so appear probable, be
shall memorialise the Government to take measures to make up the
deficiency from other sources, and thus be ready to pay off the
indebtedness, so that the required amount may be placed in each case
at least fourteen days previous to the due dates of such payments,
in the hands of the Hongkong and Shanghai Banking Corporation.
Article 15,
The Corporation may, subject to all its obligations, trans-
fer or delegate all or any of its rights, powers, and discretions,
to its successors or assigns, but the Corporation, which is a
Corporation formed under English law shall not transfer its rights
under this Agreement to any other nation or people of any other
nationality except British or Chinese. Similarly, the Chinese Govern-
ment's right and authority under this Agreement shall not be trans-
ferred to persons of other nationality.
It is further understood that the Chinese Government will
not build another line competing with this railway to its detriment,
Article 16.
The term of the Loan, as stated in Article 1, shall be fifty
years. Repayment of principal shall commence after the expiry of
12 1/2 years from the date of the Loan and shall be completed in 37 1/2
years by yearly payments to the Hongkong and Shanghai Banking Corpora-
tion as Agents for the service of the Loan, acting for the Corporation
under the terms of this Agreement, in accordance with the
amortisation schedule hereto attached,
If, at any time after the expiry of 12 1/2 years from the date
of the Loan the Imperial Chinese Government should wish to redeem
the outstanding amount of the Loan or any portion of it, not yet
due under the provision of the amortisation schedule hereto attached,
not less than six months notice shall be given in writing by the
Viceroy to the Representative of the Corporation, declaring the
number of additional Bonds so required to be redeemed, whereupon the
Representative of the Corporation shall immediately proceed to make
such