Exercise 8. Make up dialogues concerning the ad pages, their rates, termination of the Agreement, miscellaneous.

Exercise 9. Translate the following sentences using the text:

1) Стороны освобождаются от ответственности за полное или частичное невыполнение своих обязательств по настоящему Соглашению, если такое невыполнение вызвано форс-мажорными обстоятельствами, а именно: пожаром, наводнением, несчастным случаем и др.

2) Производственные затраты на каждую публикацию непосредственно зависят от производства, распространения и включают но не ограничиваются такими факторами как бумага, распечатка, переплет и др.

3) Соглашение становится действительным и входит в полную силу с даты его подписания.

4) Сторона, которая не может выполнить своих обязательств по настоящему Соглашению, должна в течение десяти дней после начала действия форс-мажорных обстоятельств проинформировать другую сторону об их наличии.

5) Любые изменения и поправки условий настоящего Соглашения считаются действительными только в том случае, если они сделаны письменно и должным образом подписаны уполномоченными представителями сторон.

6) Компания WPI должна удовлетворять просьбы компании Weider Nutrition относительно расположения на странице рекламного объявления.

7) Ни одна из сторон не вправе передавать свои права и обязательства по настоящему Соглашению без письменного на то согласия другой стороны.

8) Настоящее Соглашение может быть расторгнуто в любое время по соглашению сторон.

9) Соглашение составлено в двух экземплярах, причем оба экземпляра имеют одинаковую силу.

10) Правоотношения между сторонами по настоящему Соглашению регулируются законодательством штата Калифорнии.

Exercise 10. Compose your own Advertising Agreement using active vocabulary of the text.

IV. LESSON 4. LOAN AGREEMENT

Exercise 1. Read and translate the example of Loan Agreement using the words and expressions given below:

 

This agreement is dated as of October 11^th, 1998 and is between the Russbank of Russia, a juridical person organized and existing under the laws of Russia, hereinafter referred to as “the Borrower” and Nisso Iwa (UK) Limited a corporation organized and existing under the laws of England, hereinafter referred to as “the Lender”.

Whereas, the Lender is willing to lend the funds under the terms and conditions set forth below. Now, therefore, in consideration of the promises contained herein, and each party intending to be legally bound thereby, the parties agree as follows:

 

Article 1. THE LOAN

Amount of principal subject to the terms hereof, the Lender hereby agrees to lend the Borrower the principal sum of Eight Hundred Nineteen Thousand Two Hundred Tree United States Dollars (USD 819, 203), hereinafter called “the Loan”. Disbursement of the Loan shall be made by the Lender by transfer before 12:00 noon, London time on the dates, hereinafter called “the Drawdown Dates”, in immediately available funds in United States Dollars to the bank account of the Seller.

The interest shall accrue for each and every period from and including each Drawdown Date to and not including the day as specified for interest payment on Exhibit B attached hereto, hereinafter called “the Interest Payment Date”, immediately following such Drawdown Date, and thereafter from and including each Interest Payment Date to and not including the next Interest Payment Date, hereinafter called “the Interest Period” on the outstanding balance of the Loan at separate rates for each Interest Period calculated on the basis of the actual number of days elapsed

 

Article 2. RATE AND PAYMENT OF INTEREST

The rate of interest applicable for each interest period, as defined hereinafter, shall be one point three seven five percent (1. 375%) per annum above the London Inter Bank Offered Rate, hereinafter called “the LIBOR”, in effect at the time as described below, hereinafter called “the Interest Rate”.

 

Article 3. REPAYMENT OF THE LOAN, PREPAYMENT

The Loan shall be repaid in nine (9) equal semiannual installments in accordance with the schedule.

The Borrower shall have the right to prepay the outstanding balance of the Loan in whole on any Interest Payment Date, without any premium or penalty, as long as at least 60 calendar days prior written notice is given, together with the interest accrued and any other amounts then due.

Article 4. OVERDUE PAYMENTS

If the Borrower fails to make any required payment with respect to the repayment of the loan, payment of the Interest, payment of the Interest, or any other items payable under this Agreement on the date(s) due, all such overdue amounts shall bear interest, payable on demand, from and including the due date to and including the date of actual payment, at the rate of 2. 375% per annum over and above the week, one month, three month or six month LIBOR determined on the due date(s) and from time to time thereafter for successive interest periods for so long as such amount remains unpaid, hereinafter called “the Overdue Interest”.

The applicable LIBOR shall be the arithmetic mean, rounded upward, if necessary to the nearest whole multiple of 1/16 of 1% of the relevant LIBOR for deposits in the United States Dollars as quoted on the Reuter’s monitor page “LIBO” as or about 11:00 a.m., London time on the due date(s) and thereafter for each successive Overdue Interest Period as defined below, on the second business day in London, England prior to the first day of each such Overdue Interest Period.

 

Article 5. METHOD OF PAYMENT

All amounts payable by the Borrower to the Lender under this Agreement, including, but not limited to, repayments of the Loan, payments of the Interest, the Overdue Interest, shall be payable in United States Dollars in net amounts receivable by the Lender and shall be paid by the Borrower in the full amount stated under this Agreement, without deduction or offset for any present or future income or other taxes, levies, charges or other with holdings or impositions of any nature whatsoever. If the Borrower is required to withhold income or other taxes or levies imposed on repayment of the Loan, payments of the Interest, the Overdue Interest, or other payments due to the Lender by or within Russia under this Agreement, the Borrower shall bear the taxes and/or levies regardless of their nature, and pay them to the relevant authorities.

 

Article 6. ARBITRATION

All disputes or differences which arise out of, or in connection with, this Agreement shall be settled by means of negotiations between the parties.

If the parties do not settle any such dispute or difference within twenty-one days after first conferring, then such dispute or difference shall be settled by arbitration. The award of the Arbitrators shall be final and binding upon the parties.

Each party shall appoint one arbitrator. If, within fifteen days after receipt by the claimant of the name of the Arbitrator, the respondent has not notified the claimant of the name of the arbitrator he appoints, the second arbitrator shall be appointed in accordance with the following procedures:

1. If respondent is the Borrower, the second arbitrator shall be appointed by the Russian Chamber of Commerce and Industry.

2. If respondent is the Lender, the second arbitrator shall be appointed by the London Court of International Arbitration.

3. The two arbitrators thus appointed shall choose the third arbitrator who will act as a presiding arbitrator of the tribunal, if, within, thirty days after appointment of the second arbitrator, the two arbitrators have not agreed upon the choice of the presiding arbitrator shall be appointed by the Stockholm Chamber of Commerce and shall be of the nationality other than Russian or English.

 

Article 6. MISCELLANEOUS

Governmental Approval

The parties shall obtain necessary government approval of this Agreement, if any, from the governments of their respective countries.

Non-Waiver of Rights

No failure or delay of any party hereto to exercise any power given it under this Agreement or to insist upon strict compliance by any of the parties hereto of any obligations shall constitute a waiver of any of the party’s rights to demand exact compliance with the terms hereof.

Severability

If, for any reason, any provision of this Agreement is held invalid, such invalidity shall not effect any other provision of this Agreement and the other provisions shall, to the full extent consistent with law, continue in full force and effect.

Language

This Agreement has been drawn up and executed in the English language and the English language text of this Agreement shall govern and prevail over any translation hereof.

Secrecy

The Borrower, the Lender and the Assignee (if any) shall not disclose the existence and the contents of this Agreement to any third party other than relevant government authorities, the Seller, or other parties mutually agreed between the Borrower and the Lender. The Borrower, the Lender and the Assignee (if any) shall take steps necessary to have its directors and officers maintain the same secrecy obligations as imposed under this Agreement.

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement in duplicate as of the day and year first above written.

 

The BORROWER The LENDER

 

By_____________ By ___________

 

Notes

whereas принимая во внимание

to set forth указывать

principal = principal sum основная сумма кредита (в

отличие от процентных

платежей за кредит)

disbursement выплата средств в порядке

погашения кредита

LIBOR ставка предложения (продавца)

на лондонском межбанковском

рынке депозитов: важнейший

ориентир процентных ставок

на международном рынке

ссудных капиталов, фиксируется

на основе ставок ведущих банков

на 11 часов утра

to accrue накапливаться, нарастать

repayment выплата, погашение

prepayment досрочный платеж

installment взнос, часть

overdue просроченный

successive последующий

arithmetic mean среднее арифметическое

to round upward округлять в сторону увеличения

multiple of кратное

relevant соответствующий

receivable причитающийся

receivables причитающиеся суммы

deduction вычитание

offset возмещение, компенсация

to withhold удерживать

regardless of независимо от

arbitrator арбитр

to confer обсуждать

respondent ответчик

to waive отклонять

waiver отказ, освобождение

(от обязательств)

non-waiver неосвобождение

(от обязательств)

to exercise осуществить

compliance соблюдение

severability приостановление действия

to constitute составлять, являться

consistent with согласующийся с

to construe толковать, истолковывать

to prevail иметь превалирующую силу

to disclose раскрывать

to maintain secrecy выполнять обязательства о

obligations сохранении

конфиденциальности

to impose возлагать

 

Exercise 2. Answer the following questions:

1) Who are the Parties of the Agreement?

2) What is the amount of the loan?

3) How is the loan to be repaid?

4) What is the LIBOR?

5) Is prepayment allowed?

6) What is Overdue Interest?

7) How is the applicable LIBOR calculated?

8) What is the method of payment?

9) What are the major aspects of arbitration?

10) Comment on the miscellaneous of the Agreement.HHHhh

 

Exercise 3. Translate the following words and word combinations:

погашение кредита, возмещение, указывать, соответствующий, ответчик, кредит, причитающийся, обсуждать, в соответствии с, арбитр, разногласие, независимо от, неосвобождение от обязательств, раскрывать, толковать, составлять, среднее арифметическое, просроченный, последующий, принимая во внимание, основная сумма кредита, вычитание, освобождение от обязательств, согласующийся с, накапливаться, выполнять обязательства о сохранении конфиденциальности, далее по тексту, процент, налог, переговоры, ставка, уведомлять, спор, назначать, претензия, платеж, в год, штраф, доход, кратный, счет, досрочный платеж, власти, заемщик, фактический, подсчитывать, отклонять, иметь превалирующую силу, возлагать, соблюдение, осуществить, приостановление действия.