Consortium Agreement

Consortium Agreement

1. Preamble
The aforementioned companies have decided to jointly process the project for the building of a flotation deinking plant for OOOOOO Co. Ltd., Seoul/korea(hereinafter called Customer) on an excluive basis. Based on the quotations workd out by the ABC/XYZ companies and submitted to the customer, a contract for the delivery of the aforementioned plant(flotation deinking plant-XXXXXX Mill) as well as for services(erection, supervision/start-up) bearing the codeword XXXXXX DIP I has been concluded between the customer and ABC/XYZ. This contract took effect beginning with the receipt of the downpayment and the opening of the L/C. The handling is carried out with reference to the codeword XXXXXXX DIP I.

The consortium consists of
XYZ Co., Ltd., Seoul/Korea
ABC GmbH, Heidenheim
(herinafter called Members)
* 이상의 Preamble은 영문계약서에서 통상적으로 말하는 WHEREAS조항에 해당하는 것으로 봄.

2. Deliveries and Services
2.1 Breakdown of the order splitting
The deliveries and services to be supplied on the basis of the contract dated Dec. 7, 1996 shall be shared by the Members in the following manner:
1. ABC shall supply equipment and services to the value of US $()
2. XYZ shall supply equipment to the value of KRW( )
Scope and limit of the deliveries and services are described in the Appendix #1 and #2

2.2 Completeness
The agreements, specifications, etc. which have been arranged and which still need to be arranged and which are based on the contract of Dec. 7, 1996 and on future agreements shall be authoritative with respect to the deliveries and the services to be supplied by the individual Members. Each Member shall supply all the deliveries and services required for the proper fulfillment of his share in the order, even if these are not specified completely in the Appendix #1 and #2.

2.3 Subsequent changes
Insofar as changes in the distribution or the carrying out of the deliveries and services become necessary, these and the resulting consequences shall be agreed upon between the

[hwp/doc/pdf]Consortium Agreement