57
and shall be completed in 374 years by payments to the Hongkong and Shanghai Banking Corporation as agents for the service of the Loan, acting for the Corporation under the terms of this agreement, in accordance with the amortisation schedule of amounts and dates hereto attached.
If, at any time after the expiry of 124 years from the date of the Loan, the Imperial Chinese Govern- ment should wish to redeem the outstanding amount of the Loan or any portion of it, not yet due under the provisions of the amortisation schedule hereto attached, not less than six months notice shall be given in writing by the Viceroy to the represent- ative 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 ar- rangements as may be necessary and usual for the redemption of the number of Bonds specified, which when duly redeemed after payment by the Imperial Chinese Government of the proper amount due thereon, shall be cancelled and delivered to the Viceroy.
All Bonds thus redeemed in excess of the amount specified in the amortisation schedule hereto attach- ed before the expiry of 25 years from the date of the Loan shall be paid for with a premium of 2½% over their face value (i.e. £102 10s. will be required to pay for £100) but after 25 years Bonds may be redeemed over and above the amounts specified in the schedule without premium upon notice being given in the manner above specified.
As soon as the Loan has been completely redeemed, this agreement shall become null and void and the mortgage shall be cancelled.
Article 17.
If, during construction, any proceeds of the sale of Bonds are lying unused and bearing interest on their deposit whilst the construction of the Railway is going on,
such interest is to be credited to the general account of the
:
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and shall be completed in 374 years by payments to the Hongkong
and Shanghai Banking Corporation as agents for the service of
the Loan, acting for the Corporation under the terms of this
agreement, in accordance with the amortisation schedule of
amounts and dates hereto attached.
If, at any time after the expiry of
124 years from the date of the Loan, the Imperial Chinese Govern-
-ment should wish to redeem the outstanding amount of the Loan
or any portion of it, not yet due under the provisions of the
amortisation schedule hereto attached, not less than six months
notice shall be given in writing by the Viceroy to the represent-
-ative of the Cerperation, declaring the number of additional
Bonds so required to be redeemed, whereupon the representative
of the Corporation shall immediately proceed to make such ar-
-rangements as may be necessary and usual for the redemption
of the number of Bonds specified, which when duly redeemed after
payment by the Imperial Chinese Government of the proper amount
due thereen, shall be cancelled and delivered to the Viceroy.
All Bonds thus redeemed in excess of
the amount specified in the amortisation schedule herete attach-
-ed before the expiry of 25 years from the date of the Loan
shall be paid for with a premium of 21% over their face value
(1.0. £102 10 will be required to pay for £100) but after 25
years Bonds may be redeemed over and above the amounts specified
in the schedule without premium upon notice being given in the
manner above specified.
As soon as the Loan has been completely
redeemed, this agreement shall become null and void and the
mortgage shall be cancelled.
Article 17.
If, during construction, any proceeds
of the sale of Bends are lying unused and bearing interest on
their deposit whilst the construction of the Railway is going
on,
such interest is to be credited to the general account of
the
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