Document:

Exhibit 10.53

 

PURCHASE AND SALE AGREEMENT

 

This Purchase and Sale
Agreement (hereinafter, the “Agreement”) is made and entered into by and between VELATEL PERÚ S.A.,
identified with RUC N° 20165555253, domiciled at Av. Camino Real N° 493, Piso 11°, district of San Isidro, province
and department of Lima, Peru, duly represented by Mr. Christian Carnero, identified with DNI N° 25786895, powers of attorney
which are in process of recording in the Legal Entities Registry of Lima and after filing shall be attached as Exhibit C of this
Agreement (hereinafter, “SELLER”); and, INVERSIONES BALESIA S.A.C., identified with RUC N° 20554085131,
domiciled at Pasaje García Calderón N° 131, district of Lima, province and department of Lima, Peru, duly represented
by Mrs. Gisella Jeniffer Alzamora Sanguineti, identified with DNI N° 10634615, powers of attorney pending registration under
Entry N° 13036264 of the Legal Entities Registry of Lima (hereinafter, “BUYER”); subject to the following
terms and conditions:

 

ONE.
- RECITALS

 

		1.1	SELLER is a company duly organized and existing under the laws of Peru, dedicated to mobile
telecommunications activities.

 

		1.2	Also, BUYER is a company duly organized and existing under the laws of Peru, dedicated to
mobile telecommunications activities.

 

		1.3	SELLER represents and warrants that it is the owner of the towers detailed in Exhibit A
of this Agreement (hereinafter, “THE TOWERS”). It is expressly established that THE TOWERS were
constructed in order to develop telecommunications activities, including the possibility of lease THE TOWERS in favor of
telecommunications operators.

 

		1.4	THE TOWERS are located in the properties detailed in Exhibit B of this Agreement
and in accordance to the lease agreements which was signed by the owners of the properties and the SELLER. Furthermore,
the Exhibit B establishes the date of termination of the lease agreements mentioned in this Section 1.4, the name of the owners
of these properties and other relevant information about the lease agreements.

 

		1.5	Considering the fact that SELLER may not continue developing the business related to THE
TOWERS nor: (i) the payment in favor of the constructor of THE TOWERS which is the company INGENIERIA CELULAR
ANDINA S.A. (hereinafter, “ICA TOWER CO DEBT”) and which is equal to USD61,736 (Sixty-One Thousand Seven
Hundred Thirty Six US Dollars); (ii) the payment of past and future considerations in favor of the owners of the properties where
THE TOWERS are located (hereinafter, “LANDLORDS’ DEBT”) and which is equal in the aggregate to
USD112,904 (One Hundred Twelve Thousand Nine Hundred Four US Dollars) for rents accrued through the date of this Agreement (plus
future rents accruing at the rate in the aggregate of USD7,975 (Seven Thousand Nine Hundred Seventy-Five US Dollars) per month;
and (iii) payment for electricity consumed during operation of the towers by SELLER (hereinafter, “ELECTRICITY
DEBT”) in the aggregate amount of USD7,918 (Seven Thousand Nine Hundred Eighteen US Dollars).

 

		1.6	Considering the mentioned in Section 1.5 of this Agreement, the SELLER express its intention
to: (i) assign all rights and obligation deriving from the lease agreements which are detailed in Exhibit B of this document; and,
(ii) sell to BUYER THE TOWERS; subject to the terms and conditions hereinafter set forth.

 

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TWO.
- OBJECT

 

		2.1	By this Agreement, SELLER sells to BUYER THE TOWERS listed and described on
Exhibit A and BUYER accepts to buy all THE TOWERS listed on the referred exhibit.

 

		2.2	The transfer of THE TOWERS
                                                             includes all the rights and everything which corresponds to THE
                                                             TOWERS, in fact or in law,
                                                             without reserve or limitation.

 

		2.3.	The
                                                              delivery of THE TOWERS in favor of the BUYER shall
                                                              be accomplished on the date to the signing of this Agreement.

 

THREE.
- PAYMENT

 

		3.1	The
                                                             purchase price for THE TOWERS consists of the obligation by
                                                             the BUYER to assume, pay, indemnify and hold the SELLER
                                                             harmless from the ICA TOWER CO DEBT, the LANDLORDS’
                                                             DEBT, and the ELECTRICITY DEBT, which in the aggregate
                                                             totals USD182,588 (One Hundred Eighty-Two Thousand Five Hundred Eighty-Eight
                                                             US Dollars), including all taxes.

 

		3.2	The signing of this Agreement is enough proof of the total payment of the price mentioned in Section
3.1 and considering the fact that BUYER assumes the payment of ICA TOWERS’ DEBT detailed in Section
1.5.(i) and LANDLORDS’ DEBT and ELECTRICITY DEBT detailed in Section 1.5.(ii) and 1.5.(iii).

 

FOUR.
- ASSIGNMENT AND OTHER PROVISIONS 

 

		4.1	By this Agreement, SELLER assigns to the BUYER all rights and obligations deriving
from lease agreements which are detailed in Exhibit B of this Agreement.

 

		4.2	SELLER represents and warrants the good title of the lease agreements mentioned in the Exhibit
B.

 

FIVE.
- NATURE OF THE AGREEMENT

 

		5.1	The parties recognize that the Agreement is regulated under the civil laws. In this regard, this
Agreement can't be neither understood nor interpreted as a creation of any kind of labor relationships between the parties or any
kind of labor relationships between their personnel. In order to fulfill this Agreement, the parties are not subject to subordination
relationships.

 

		5.2	All the obligations related to the personnel required by the parties for the services under this
Agreement, of any kind or nature will be under their liability. By this means, none of the parties will be liable for the payment
of remuneration, salaries, and other benefits to the personnel of the other part.

 

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SIX. - ENTIRE AGREEMENT

 

This Agreement constitutes the entire Agreement
and supersede all prior agreements and understandings, both written and oral, among the parties hereto, or any of them. Any modification
to the Agreement must be done in written and must be signed by BUYER and SELLER.

 

SEVEN.
- APLICABLE LAW AND JURISDICTION 

 

		7.1	The parties agree that the interpretation and enforcement of this Agreement
will be in accordance with Peruvian law. In matters not covered by this Agreement shall apply, in a supplementary way, the Peruvian
Civil Code and other laws of the Republic of Peru, as appropriate.

 

		7.2	All disputes or differences arising from this Agreement, including its nullity
or invalidity, and that may not be settled first directly and by mutual agreement between the parties for at least fifteen (15)
working days, shall be solved by arbitration in law conducted in accordance with the Rules of National and International Conciliation
and Arbitration of the Arbitration Center of the Chamber of Commerce of Lima, to whose rules the parties submit unconditionally.
The award shall be final and binding on the parties and the losing party shall have to pay the cost thereof. The Arbitral Court
will consist of three (3) members, two (2) of whom shall be appointed directly by the parties, corresponding to those arbitrators
to appoint by common agreement the third one, who shall chair the Tribunal. If there were no agreement among the arbitrators about
the appointment of the third arbitrator, such appointment will be done by the Arbitration Center of the Chamber of Commerce of
Lima.

 

The parties have caused this Agreement
to be signed in two copies in Lima, on August 16, 2013.

 

 

	VELATEL PERU, S.A.

	 	INVESIONES BALESIA, S.A.

                     

	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	By:	/s/ Miguel Christian
    Carnero Alvinagorta	 	By:	/s/ Gisella Jeniffer
    Alzamora Sanguineti	 
	 	Miguel Christian Carnero Alvinagorta, its General Manager	 	 	Gisella Jeniffer Alzamora Sanguineti, its General Manager	 
	 	 	 	 	 	 

 

 

 

 

    	3Exhibit 10.54

 

MUTUAL
WARRANTIES PERTAINING TO TOWER ASSET PURCHASE AGREEMENT

 

The parties to this Agreement ("IB
Mutual Warranties") dated as of August 16, 2013 are Inversiones Balesia, S.A. ("IB"), a Peru corporation,
and VelaTel Peru, S.A., a Peru corporation ("VTP"). IB and VTP are also parties to an Asset Purchase Agreement
("APA"). IB is informed that this IB Mutual Warranties is also an Exhibit to a Share Purchase Agreement ("SPA")
by which the stock of VTP is being transferred to a different owner. VTP represents that the SPA includes the following definition
of the term "Tower Assets and Liabilities" which are being excluded from the SPA:

 

"Tower Assets and Liabilities" means (i)
all tangible and intangible property rights and other assets associated with thirty (30) cellular towers erected on leased sites
and owned by the Company, including engineering plans, designs, permits, permit applications, leasehold interests under site leases
with property owners, and (ii) all accrued and contingent liabilities associated with such property rights and assets, including
past or future amounts owed to the fabricator of the towers and to site lease property owners.

 

Notwithstanding any similarity or overlap
in terms between this IB Mutual Warranties and the APA, this IB Mutual Warranties and the APA represent independent agreements,
neither of which is contingent upon the other, provided that the effectiveness of this IB Mutual Warranties is contingent upon
the Closing of the SPA.

 

1.IB has acquired the towers included
in the Tower Assets and Liabilities with the intent to lease space on the towers for commercial use by telecommunications operators.
IB has applied or intends to apply for any permits IB deems appropriate for such intended use. VTP agrees to make application in
the name of VTP for any such permit for which VTP's status as a holder of telecommunications licenses or concessions is required
or advantageous and thereafter assign any such permits to such third parties as IB may direct, provided that VTP shall incur no
expense associated with any permit, application or assignment and IB shall prepare such applications and submit the same to VTP
for its approval and filing. VTP shall at no charge or other consideration allow assignment of any antennae permits obtained in
favor of any other telephone operator who wishes to lease space on any tower.

 

2.VTP has installed infrastructure equipment
on each of the towers included in the Tower Assets and Liabilities. Notwithstanding the transfer of the Tower Assets and Liabilities
from VTP to IB pursuant to the APA, VTP may maintain rent free on each tower any or all of its infrastructure equipment in its
current locations and configurations, pending completion of IB's permitting process described in the preceding paragraph, provided
that VTP shall not be entitled to operate such equipment commercially absent prior written consent of IB. IB shall grant VTP reasonable
access to the equipment for purposes of testing, maintenance, repair or removal. For each tower, no later than 90 days after either
(i) approval of the permits described in the preceding paragraph by the applicable municipality as are necessary for commercial
use of such tower by a telecommunications carrier, or (ii) determination by IB that the applicable municipality will not approve
such permits on a commercially reasonable basis, VTP shall be required to either (iii) remove its equipment from such tower, or
(iv) enter into a lease with IB on customary commercial terms to be agreed. IB shall provide VTP written notice of either (i) or
(ii) and the 90-day period commence on the date of delivering such notice.

 

 

	VELATEL PERU, S.A.

	 	INVESIONES BALESIA, S.A.

                     

	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	By:	/s/ Miguel Christian
    Carnero Alvinagorta	 	By:	/s/ Gisella Jeniffer
    Alzamora Sanguineti	 
	 	Miguel Christian Carnero Alvinagorta, its General Manager	 	 	Gisella Jeniffer Alzamora Sanguineti, its General Manager	 

 

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