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Article – definitions; interpretation Section 1.1. Definitions

In this Agreement, the following words and expressions unless inconsistent with the subject matter or context, shall bear the meanings assigned hereto:

  1. Agreement” shall mean the present Purchase/Sale of Goods Agreement to be entered into between XXX and YYY and all its appendices as more precisely described in paragraph E of the recitals.

  2. Authority” shall mean any national, federal, state, or local governmental, regulatory, administrative, or judicial agency or authority.

  3. Business Plan” shall mean the initial business plan for such joint-venture as agreed between the Parties attached as Appendix A.

  4. Buyer” shall mean *, a corporation organi­zed and existing under the laws of*, the Party of the Sec­ond Part hereto.

  5. Closing Date” shall have the meaning set forth in Article 2.1.1 hereof.

  6. Effective Date” shall have the meaning as ascribed to it in Article 2.1.

  7. Euro” or “€” shall mean the official and legal currency of Europe.

  8. Parties” shall mean the Seller and the Buyer, collectively, and «Party» means only one of them.

  9. Purchase Price” shall mean the pur­chase price to be paid by the Buyer to the Seller for the Purchased Goods as provided in Section 4.1 hereof.

  10. Purchased Goods” shall mean all of the goods described in Section 3.1 and Schedule I here­ of.

  11. Seller” shall mean *, a corporation organized and existing under the laws of*, the Party of the First Part hereto.

  12. Territory” shall mean * (country).

Section 1.2. Interpretation

1.2.1 Except where the context requires otherwise, this Agreement will be construed as follows:

  1. The definitions in Article 1.1 shall apply equally to both the singular and plural form of the terms defined.

  2. The recitals contained herein, form an integral part of this Agreement.

  3. Where any act, matter or thing is required by this Agreement to be performed or carried out on a certain day and that day is not a business day then that act, matter or thing shall be carried out or performed on the next following business day.

1.2.2 Any reference in this Agreement to an obligation to be performed by a Party shall be construed so as to include an obligation of such Party to procure performance by its Affiliates.

1.2.3 The headings and subheadings in this Agreement are included for convenience and identification only and are not intended to describe, interpret, define, or limit the scope, extent, or intent of this Agreement or any provision hereof in any manner whatsoever.

Exercise 40. Read the above text and find the equivalents of the following expressions and word-combinations.

Если это не противоречит; предмет договора; следующие значения; приложения; согласованный; первый экземпляр; второй экземпляр; предусмотренный; покупная цена; как указано; толковаться следующим образом; рабочий день; обеспечивать; положение; каким бы то ни было образом.

Exercise 41. Substitute Russian expressions for those in English.

  1. In any case where the Goods are sold CIF or FOB or on the basis of other international trade term the meaning of such term contained in Incoterms shall apply except where не противоречитany of theположенияcontained in these Conditions when these Conditions shall prevail.

  2. The Client agrees to pay the Agent for the Custodian Services in accordance with the charges изложенныйin the relevant parts of the Schedule,в соответствии сtheположенияof Section 5 of this Agreement.

  3. СогласноClause 20.2, each Partyобязуетсяto each other Party to keep confidential theпредмет договораand/orположенияof any of the Finance Documents.

  4. Within 30 (thirty) рабочих днейfollowing the date of receipt of the noticeуказанныйin clause 5 the Lessee, theстороныshall sign a long term lease agreement for the Leased Premises on theположениях и условиях согласованныхby theсторонамиandизложенныхinприложение№ 4 to the Agreement.

  5. In consideration for the sale of the share held by XXX согласноthe Option, theСтороныhave agreed that theцена покупки(P) to be paid by YYY to acquire such share,если иное не согласовано between theСторонамиwithin [30]рабочих днейfrom notification of exercise of the Option, shall be calculatedследующим образом.

  6. The стороны have agreed to заключить настоящее соглашение to further describe the положения и условия of their joint cooperation in the JVC.

  7. The XXX Стороны must обеспечить that the дата вступления в силу occurs not later than [30] days after the date of the notice from EBRD указанный in paragraph (b) of Section 3.02.

  8. Согласно Section 3.02, with effect по состоянию на the дату вступления в силу соглашения references to the Sponsor in the Financing Agreements will будет толковаться as references to the New Sponsor.

Exercise 42. Choose the correct word.

    1. The provisions/conditions of this Agreement shall expire fifty (50) years as from the Closing Date, unless earlier terminatedin accordance/pursuant tothis Article 14.

    2. This Agreement shall continue as agreed/assignedbetween the parties in accordance with 3.2.3 above.

    3. The Statements shall be delivered by the Agent to the address or e-mail or fax number of the Client, as set forward/forthin p. 16.1 of this Agreement.

    4. The purchase/buyingprice for the XXX Assets shall be paid in cash and financed through equity of the joint venture company.

    5. The Monthly Account Statement shall be sent by the Agent to the Client within ten (10) Working/BusinessDays after the end of every calendar month.

    6. This Agreement and the rights of the Parties shall be governed by andconstrued/interpretedin accordance with the substantive law of England.

    7. Tax Authorities”means any governmental or other authoritywhatsoever/whichevercompetent to impose any Tax, whether in Russian Federation, Republic of Cyprus or elsewhere.

Exercise 43. Fill in the blanks with the necessary prepositions.

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