Concessions in Bahrein [Bahrain], Kuwait, &c: correspondence, 1932-Jul 1933 (Colonial Office Secret Print, Middle East No.49) [‎56v] (114/284)

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fifty thousand (50,000) mentioned in this Present the Company shall pay
for the private purse of His Excellency Shaikh Hamad twenty (20) monthly
payments of Rupees Indian silver coin also widely used in the Persian Gulf. two thousand five hundred (2,500) each, the first of
such monthly payments of Rupees Indian silver coin also widely used in the Persian Gulf. two thousand five hundred (2,500) each
shall be made one month from the date of the execution of the Deed
Instrument covering the area (paragraph (3) hereof) and the remaining
monthly payments of Rupees Indian silver coin also widely used in the Persian Gulf. two thousand five hundred (2,500) each shall
be made on the same date of each subsequent month until the whole of the
twenty (20) monthly payments have been made.
(h) Twenty monthly payments of Rupees Indian silver coin also widely used in the Persian Gulf. ten thousand (10,000) will be made to
the Bahrein Government. The first of such twenty (20) monthly payments
of Rupees Indian silver coin also widely used in the Persian Gulf. ten thousand (10^000) to be paid within fourteen (14) days of
the execution of the Deed Instrument. The remaining monthly payments
of Rupees Indian silver coin also widely used in the Persian Gulf. ten thousand (10,000) to be made to the Bahrein Government
on the same date of each subsequent month until the whole of the twenty
(20) monthly payments have been made. This loan, as mentioned in this
Present to be subject to recovery on royalties on oil which may become
due from time to time, the rate of recovery to be on a scale to be agreed
between the parties to this Agreement, but the recovery of the above-
mentioned loan may only be made from royalties due in excess of Rupees Indian silver coin also widely used in the Persian Gulf.
sixty thousand (60,000) in any calendar year.
(c) The Concession granted covering the whole of the additional area including
all the islands and all the territorial waters of the Shaikh's dominions shall
be governed in all ways by the terms and conditions as laid down in the
Concession Agreement of 2nd December, 1925, and the additional area
shall, upon execution hereof, become an integral part of the Concession
Agreement of 2nd December, 1925, excepting certain payments which
shall be increased as set forth in the following paragraph (d).
(d) The payments to be made on the additional area—as regards annual rental
and minimum royalty—shall be the same as laid down in the Concession
Agreement dated 2nd December, 1925, and such payments shall be in
addition thereto, and the same shall apply to the Deed Instrument covering
the whole of the remainder of the available territory of Bahrein including
all the islands and all the territorial waters. The prospecting licence for
both areas upon the execution of the Deed granting the additional area
shall ipso facto continue current for a period of twenty (20) months from
the effective date of such Deed, and thereafter the Mining Lease
(Schedule III) shall become operative.
4. Furthermore, after the completion of the twenty (20) monthly payments men
tioned in paragraph (h) hereof the Bahrein Petroleum Company, Limited, is willing to
make a loan or loans to the Bahrein Government against future royalties on oil which
may become due from time to time; moreover, the Company is prepared to make a
specific loan to the Bahrein Government of Rupees Indian silver coin also widely used in the Persian Gulf. two hundred thousand (200,000)
or part thereof in twenty monthly instalments of Rupees Indian silver coin also widely used in the Persian Gulf. ten thousand (10,000) each.
The first monthly instalment of Rupees Indian silver coin also widely used in the Persian Gulf. ten thousand (10,000) of such specific loan to
become due in one year and nine months from the date of these Presents. Provided
always that the world market for oil and the development of the oil resources of the
Bahrein Concession, during the above-mentioned period of one year and nine (21)
months, continue to be such that they present a reasonable prospect of making the
recovery of such specific loan possible, but given unfavourable prospect of recoverv the
monthly payment may cease or be suspended by the Company until conditions become
normal.
5. The recovery of the above-mentioned loan or loans may only be made from
any royalties on oil, which may become due, in excess of Rupees Indian silver coin also widely used in the Persian Gulf. sixty thousand (60,000)
in any calendar year, but the Company shall not be permitted to recover the above-
mentioned. loan from royalties that may become due on oil at a higher rate than twenty-
five per cent. (25 per cent.) of any excess over Rupees Indian silver coin also widely used in the Persian Gulf. sixty-thousand (60,000) in any
calendar year.