File 930/1912 'Mohammerah - Khoremabad Railway' [‎69r] (144/396)

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shall carry interest at the rate of S^per cent per Lnnm °[ bearerS thereof and
be repayable by means of an amortisation f, ,,,] ],r i f 10111 t le c,ate °f issue and shall
five years after the date on rX°rthe said^raUwal;^ ° ent n P t eT ^“"lencing
-v principal moneys interest and other monpU - i f y - 18 °P ened i° r public traffic. The
shall constitute a first charge upon the railways wWl, 63136 '? ° f tbe Said railwa y bonds
mentioned in article 1 hereof and shah b^S ° f the railwa y a
in a manner and to an extent to be approved h ® 1 - , a c lar « e or a PP ro Pi'iation
duties and other revenues as may be armhnnhl t T s y ndl oate upon such customs
Syndicate. Such customs dufehr oS retn^ purpose and be approved by the
of Persia at some branch in Persia to be „ i k c° to t le Imperial Bank
21 days prior to the date for payment of each half ' ^ Syadlcat ® to a special account
bonds. Should the amount so aid ? ne? 1 1 Sf ar S 1 “ terest In res Pe°t of the said
interest and to pro^Z the hoportionatehti^f l® 114 f ° r , tlle paymeilt of the said
Government shall forthwith make up anv t l -r, ' ear '’ amortisation fund the
be applied by the said bank in pTyTJ t t TeTbilf S ° dep0sited slla11
become due in respect of the bonds and tPo lao u i 1 / " of interest to
so deposited or such part thereof as mav bn 818 ^PP t ^ le balance of the moneys
manner provided by ^hfcon^ redemption of the bonds in
of ^the^ai^railway^mf any^d!^^g^a 2 ]^})g U £^j^ 1 ^j do ^ eSc ^ I1 ^j
and forTperiod 11 two'ye^s^fter Ihe^mn^T ll^ coi ?™™ b311 ^ ^aid 6 railway
and the safd amortisation fundihall be paid and nT' hT p P T d « f ° r t. ublic traffi =
constructing the railway belaid brSfooveinment ? ai ' e “ PreV611ted fro111
Article 20.
The proceeds of the issue of the said railway bonds to the amount of 87 1 per cent of
the nominal value thereof shall be deposited in a bank in London to / annroted 1
16 ?7 n Q 1Ca I? t0 the order of tlle Government and the Syndicate and shall be
paid to the Syndicate as and when required for the purpose of defraying the cost of the
construction of the said railway m accordance with the plans surveys specifications and
estimates hereinbefore mentioned and of paying the interests
iiXtireTh a U rtfclT9 n here e of Sald rallway bonC,S ^ tlle P— d a ud to the extent
valuedhthof d so b mucb h nf 11 th e f & FA® exceedi fS 87 I P 61 ' ^nt. of the nominal
vame tliereot so much of the proceeds of the issue thereof as shall be in excess of
Syndicate 611 * ° ^ I10mma value thereof shall belong and be paid forthwith to the
The Syndicate shall from time to time notify the Government as to the amomit^
reasonably required by the Syndicate for the construction oLthe railway and tim
Government shall authorise payment of the same within 15 days after being so notified
Government and shall b pr ° Ce f ds , whi , lst 80 deposited shall be accounted for to the
article No * IQ b 1 b ® a PP lled e > ther , m payment of the outlays mentioned in
bonds 19 m payment of the subsequent interest upon the said railway
Article 21.
, , Tlie Government may at any time within a period of five years from the date
this contract require the Syndicate to proceed with the survey of any of the railways
mentioned in article 1 hereof other than the railway hereinbefore firstly described upon
firstty described 38 ^ herembefore Prided in respect of the railway hereinbefore
Article 22.
On completion of the railway hereinbefore firstly described or earlier if the
Goveinment and the Syndicate shall so agree the Government may require the
yn icate to proceed with or the Syndicate at its option may require the Government
L^oOb p—l\ ^