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interest at the rate of five per cent per annum.
Article 3.
Of the said loan, a sum of £300,000 (three hundred
thousand pounds sterling) shall be paid by the Companies
to the Yuchuanpu within one month of the date of the
confirmation of the present agreement as stipulated in
Article 9, and the balance shall be paid by four
quarterly instalments of £50,000 (fifty thousand pounds
sterling): the first instalment shall be paid three
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months after the date of the payment of the above statea
£300,000. All the said payments shall be made to a
Bank designated by the Yuchuanpu.
Article 4.
The Yuchuanpu undertakes that the proceeds of the
Loan shall be used solely for purposes directly con-
nected with its Telegraph und Telephone services.
Article 5.
The Loan together with all interest in respect
thereof shall be satisfied and extinguished by the pay-
ment by the Yuchuanpu to the Companies of a series of
equal half yearly instalments. These half yearly in-
stalments
}