RE:RE:RE:RE:GET CONTRACT HEREboss_waz wrote: Im not a lawyer either...so lawyer speak takes me some time to decipher...and thanks for the info.
You seem interpret that the 'backstop' kicks in after the Date Dbut, which has passed...therefore the backstop clause has met that requirement...(90 days past signing).
Is there a requirement stipulating that financing must be complete by the Date Dbut...in order for the backstop to be valid?
So for valid backtop:
- must be beyond 90 days of contract signing -- CHECK
- financing must be in place prior to 90 days past signing -- (is this stipulated ??)
Date Dbut almost sounds like the 'Debut Date' or commencement date of the work.
And since we have not been informed of success, we have to assume its not successfull (end of month for sure)...in which case Date Dbut is the date we longs take it in D-Butt. <-----
For clarities sake: it is debut date... Stock House apparnetly wont let me write with the proper french accents.
You are right...
According to my interpretation of the contract, paiements had to be made to "Airmap R.D.C" each quarter after the 90 days of signature of contract.
Contract was signed 30 november 2015. 90 days later is March 4th. Q2 start April 1. The first paiement "filet de securit" was due.
Airmap R.D.Congo had to send a invoice to RDC (simplified for clarity sake) for the first paiement of $10.000.000USD. and RDC would have 15 days to pay. Why this is delayed... I dont know. But according to the contract (my understanding of it ) if not because of a "act of god" force majeure RDC would have to pay at least 75%.
Is there an issue between Intermap and Airmap RDC then?
If this contract was ammended would we not see the amendment?
Is Airmap just giving them more flex for reason we dont know?