'File 5/2 III Kuwait Neutral Zone' [‎17r] (38/779)

17
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The first payment shall be made within
30 days after the date of signature of this
Agreement, and subsequent payments on
the first day of each calendar month
thereafter.
ARTICLE 5. The Company may at
any time during the Option Period terminate
this Agreement, but in such event the
Company shall pay to the Shaikh any balance
outstanding of the full amount specified in
Article 4.
ARTICLE 6. The Company may also
at any time during the Option period declare
in writing its intention to take up the
concession over the Leased Area, as herein
contained, in which case the Company shall
in addition to any sums which may still be
due to the Shaikh under Article 4 pay to
the Shaikh.
(a) on signature of such declaration
Rupees Indian silver coin also widely used in the Persian Gulf.
(b) at the end of each year after
the date of signature of such declaration
rupees Indian silver coin also widely used in the Persian Gulf.
or rupees Indian silver coin also widely used in the Persian Gulf. (3) three and annas (4) four per
English ton of 2,240 lbs. in respect of the
Substances won and saved during the
preceding calender year, whichever is
greater
In calculating royalty for the purpose
of this article account shall not be taken
of any of the Substances used by the Com
pany in its operations or used by the Com
pany’s employees within the Bahrain Islands,
nor of any water or foreign matter
which may be produced with the Substances.
ARTICLE 7. In consideration of the
payments prescribed in Article 6 the Shaikh
hereby grants to the Company for the
remainder of the period of this Agreement
the exclusive right to explore search for
drill for produce win refine transport sell
export and otherwise deal with or dispose
of the Substances and to do all things
necessary for all or any of the above
purposes within the Leased Area.
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