The settlement agreement

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The settlement agreement

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The settlement agreement

Close joint-stock company ________ , represented by ________, acting on the basis of the Charter, hereinafter referred to as the “Claimant”, as the party on the one hand, and
Limited Liability Company “________”, represented by managing director ________, acting on the basis of the power of attorney # ________ of ________, hereinafter referred to as the “Defendant”, as the party on the other hand,
being the parties to the judicial case # ________ and hereinafter jointly referred to as the “Parties”, have entered into this Settlement agreement (the “Settlement agreement”) and agreed as follows:

Section I:
1. The present Settlement agreement has been concluded by the Parties in full compliance with art. ________ of the ________ for the purpose of adjustment (settlement) of judicial dispute within which the Claimant recovered from the Defendant and was awarded by Moscow Arbitration Court (the court decision of ________ with the following sums:
1.1. past-due principal indebtedness for the goods, supplied by the Claimant under the Delivery Contract # ________ ________, in the amount of ________ RUB;
1.2. the contractual penalty for overdue payment for the delivered goods in the amount of ________ RUB;
1.3. the compensation for storage of the supplied goods in the amount of ________ RUB;
1.4. the compensation for court costs in the amount of ________ RUB;
1.5. the Claimant’s expenditures for official fee which is equal to ________ RUB.
2. The Parties agree and confirm herewith that up to the date of conclusion of this Settlement agreement the Defendant has paid to the Claimant a part of the sum indicated in clause 1.1. of this Settlement agreement in the amount of ________ RUB.

Section II:
2. Considering the circumstances aforementioned in the Section I of the Settlement Agreement, the Parties have reached the agreement herewith that the Defendant undertakes to carry out the following actions in favor of the Claimant which are aimed at redemption of the foregoing indebtedness:
2.1. pays to the Claimant the sum of the principal indebtedness in the amount of ________ and the compensation for storage of the goods in the sum of ________ RUB;
according to the procedure and within time periods as follows: ________
2.2. not later than 7 (Seven) business days from the moment when 9 Arbitration Appeal Court approves the Settlement Agreement reimburses to the Claimant the court costs in the amount of ________ RUB;
2.3. not later than 7 (Seven) business days from the moment when 9 Arbitration Appeal Court approves the Settlement Agreement discharges ________ per cent of the indebtedness for the official fee in the amount of ________ RUB.
2.4. not later than ________ reimburses to the Claimant ________ per cent of the contractual penalty in the amount of ________ RUB.
2.5. The Defendant’s obligations provided for by this Section II of the Settlement Agreement are secured by the Surety agreement dated [INDICATE SURETY CONTRACT DETAILS], which have been concluded between the Claimant and “________ ” (LLC) PSRN ________ , ITN ________ ].

Section III:
3. The monetary sums of the Defendant’s indebtedness and other payments under this Settlement Agreement shall be transferred to the Claimant in non-cash order to the Claimant’s bank account details of which indicated below: ________

Section IV:
4.1. If the Defendant breaches (in whole or in part) or delays at least one of its obligations, provided for in Section II of the Settlement Agreement, for more than 3 (Three) business days:
- all time periods which are set forth for disbursement of Defendant’s indebtedness and explicitly defined in Section II of the Settlement Agreement shall be deemed and treated as arrived and mature (on the day of the breach of an obligation to make due payment), and
- the Defendant shall be deemed as it has violated (exceeded all time limits for) all obligations, indicated in Section II of the Settlement Agreement.
4.3. If the delay mentioned in article 4.2 of the present Section takes place the Claimant has a right to immediately apply to a competent arbitration court with a request for issuance of execution writ for enforced collection of all remained indebtedness which is no discharged by the Defendant till the moment when the Claimant addresses to a court with such request in connection with a breach of the Settlement Agreement. In the same moment the Claimant is enabled to raise claims against the guarantor, “________ ” (LLC) for the purpose of receiving payments under [ INDICATE SURETY CONTRACT DETAILS].

Section V:
5.1. The Party to the Settlement Agreement confirm hereby that the conclusion of this Settlement Agreement in no respect contradicts current legislation or other regulations of the Russian Federation and doesn’t violate any rights and legal interests of third persons.
5.2. On the basis of articles ________ of ________ the Parties to the Settlement agreement are petitioning 9 Arbitration appeal court herewith for approval of this Settlement agreement and termination of court proceedings with case number # ________ .
5.3. The Settlement Agreement is executed in 3 (Three) original copies having equal legal force, one counterpart for each Party, and one counterpart – to enter to the judicial case # ________ .

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