452
And further, that until the latest and original of the loan and all the indebtedness shall have been paid off, or unless with the express consent in writing of the Corporation, the Chinese Government or the Viceroy shall not again mortgage the above properties to another party whether Chinese or foreign.
During the period of this Agreement no special taxes shall be levied by the Chinese Government on the railway, its appurtenances or earnings; but all taxes at present payable, such as land tax, as well as any taxes which the Chinese Government may hereafter institute, such as stamp duty, etc., and which may be applicable generally to all commercial transactions in China, shall also apply in the case of the Railway and its operations.
Article 8.
It is agreed that if the half-yearly interest on the Bonds is not paid on any due date thereof, or if the principal of the Loan be not paid in accordance with the amortisation schedule hereto attached, the whole Railway with all its appurtenances herein mortgaged to the Corporation for the Bondholders shall be handed over to the Corporation to be dealt with by it according to law in such manner as will ensure the proper protection of the interests of the Bondholders, provided, however, that if the failure to make payment on any one date be due to causes beyond the control of the Chinese Government and if the Viceroy request the Corporation to postpone the taking over of the Railway for a reasonable period of grace, the question shall be amicably discussed and decided between the Viceroy and the Representative of the Corporation. When the whole Loan and the interest due thereon and all the indebtedness shall have been paid off the railway with all its appurtenances in good working condition shall revert to the possession and management of the Chinese Government according to the provisions of this Agreement.
Article 9.
As remuneration for all services rendered by the Corporation during construction of the railway, the Corporation shall receive
452
And further, that until the laterest and oriacioel of the loan and
all the indebtedness shall have been paid off, or unless with the
express couseat in writing of the Corporation, the Chinese Govern-
ment or the Viceroy shall not again mortgage the above properties
to another party whether Chinese or foreign.
During the period of this Agreement no special taxes shell
be levied by the Chinese Government on the hallway, its appurtenance:
or earnings: but all taxes at present payabiz, such as land tax, as
well as say taxes which the Chinese Government may hereafter
Lastitute, such as stamo duty, etc., and which may be aoolicable
generally to all commercial transaction in China, shall also coply
in the case of the Railway and its operations.
Article 8.
It is agreed that if the half-yearly Interest on the Fonds
is not paid on any due date thereof, or if the orincisel of the Loan
be not paid in sccordance with the amortisation schedule here to
attached, the whole Railway with all its aboartenances herain mort-
gaged to the Cococcalion for the Bondholders shall be handed over to
the Corporation to be dealt with by it according to lew in such
gender es will ensure the proper orotection of the interests of the
Bondholders, orovided, however, that if the failure to naks oeynent
el any one dabe be due to causes beyond the control of the Chinese
Government and if the Viceroy request the Corporation to postpone
the taking over of the Railway for a reasonable period of grace, the
Question shall of amicably discussed and decided between the Viceroy
and the Representative of the Corporation. When the whole Losa and
the interest due thereon and all the indebtedness small bave been
paid off the bailway with all its eppurtenances in good working con-
dition shall revert to the possession and management of the Chinese
Boverament according to the provisions of this Agreement.
Article 9.
As remuneration for all services rendered by the Corporatio0 during construction of the bailway,
the Corcoration shall receive
the
No comments yet.
Private notes are available after approval.