THE PARTIES HERETO OF THE FIRST PART.
646
and of not less than 35 chests during November 1915 and shall thereafter without fail take delivery each month commencing in December 1915 of not less than One Sixteenth of the balance of all opium purchased. If the Envoy shall not have taken delivery of any monthly quantity or any portion thereof within 30 days after any month the parties hereto of the first part shall be entitled to sell such opium either by public auction or private contract and the Envoy shall pay to the parties hereto of the first part all losses damages costs charges and expenses incurred or sustained by them.
7. The Envoy shall in respect of all opium purchased under this Agrec- ment pay to Messrs. David Sassoon & Co. Ltd. for each chest of opium taken delivery of by him the sum of $3,500 Mexican dollars in accordance with the Agreement between the Envoy and the Shanghai Combine dated the 1st May 1915 in addition to the price for such chest as hereinbefore provided.
--
8. All payments to be made by the Envoy for all opium purchased shall be made to Messrs. David Sassoon & Co. Ltd.
9. As security for the performance by the Envoy of his obligations under this Agreement the Envoy shall deposit with Messrs. David Sassoon & Co. Ltd. on behalf of the parties hereto of the first part the sum of Five hundred thousand dollars in the Hongkong Notes of a British Bauk carrying on business in Hongkong. Such deposit shall be paid without fail as to Two hundred and fifty thousand dollars within three days after the date of this Agreement and as to the balance on or before the 31st October 1915.
10.-Messrs. David Sassoon & Co. Ltd. shall deposit the said sum of Five hundred thousand dollars in the Hongkong and Shanghai Banking Corporation on fixed deposit. Subject to the provisions of clause 12 hereof the Envoy shall be entitled to all interest allowed by the Bank in respect of the deposit.
11. After the Envoy has taken delivery of all opium purchased except the last 100 chests the parties hereto of the first part shall if no claim shall exist against the Envoy in respect of all opium purchased or any part thereof and subject to any operation of clause 12 refund to him out of the deposit on the clearance of each of the last 100 chests the sum of Five thousand dollars.
12. The said sum of Five hundred thousand dollars deposited and all interest accrued or accruing thereon shall be held by the parties hereto of the first part as security for the performance by the Envoy of his obligations in respect of all opium purchased. If any claim shall exist against the Envoy by reason of his failure to perform any obligation of his in respect of all opium purchased the parties hereto of the first part shall be entitled at the expiration of Eighteen months from the date hereof without notice to the Envoy to satisfy such claim out of the said sum of Five hundred thousand dollars and all interest accrued or accruing thereon but the Envoy shall remain liable to pay the balance of any such claim to the parties hereto of the first part.
13. The expression the parties hereto of the first part where used throughout this Agreement shall mean and include all the parties whose signatures appear at the end under the heading "The partics hereto of the first part."
AS WITNESS the hands of the parties hicrete the day and year first above written.
vid Sassoon & Co. Ltd. (Sd.) E. Shellim
Manager
(Sd.) E. D. Sassoon & Co.
S. J. David & Co. Ltd.
(Bd.) Archibald David
(Sd.) E. Pabaney
Director
11
(Sd.) Cawasjee Pallanjee & Co.
(Sd.) Abdoolally Ebrahim & Co.
(Sd.) Arratoon V. Apear & Co.
(Sd.) H. M. H. Nemazec
(Sd.) R. Ho Tung per Ho Wing
(Sd.)
M. H. E. Ellias per R. A. Dastor
(Sd.)
Lau Tak Po
by his Attorney
Lau Iu Chung
TH
SIGNED by all the parties hereto
-
of the first part in the presence of :-
(S.) HERBERT W. LOOKER
Solr.
Hongkong.
#
:
:
:
Malwa Bengal
5
8
134
26
48
36
40
71
36
14
30
F
37
139
زان
48
28
45
1
5
319
487
319
TOTAL
806
SIGNED by the Envoy in the pre-
(Sd.) 江蘇江西廣東特派員蔡乃煌 (The Kiangsu, Kiangse & Kwangtung's specially appointed Envoy,
TSAI NAI HUANG)
-:
sence of :-
(Sd.)
SIN TAK FAN,
Clerk to Ewens & Needham,
Sutra.
INTERPRETED to the Envoy by :-
(Sd.) Wong KWONG WAL
his interpreter.
*
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