Document:

exv10w39

 

Exhibit 10.39

LOS ANGELES

	 	 	 	 	 	 
	 
	 	TRIO -TECH INTERNATIONAL PTE LTD	 	 	 
	 
	 	Reg. No.: 1976023M
	 	 	1 7 NOV 2004

	 	 	 	 	 
	8 November 2004

	 	BY:	 	 
	 

	 	 	 	 

INDUSTRIAL DEVELOPMENT (HIGH-RISE) DEPARTMENT

JTC Corporation

The JTC Summit

8 Jurong Town Hall Rd

Singapore 609434

Attention: Ms Ginny P L LAM

ACCEPTANCE OF OFFER OF TENANCY FOR THE PREMISES AT UNIT #03-07/08 BLK 1008 TOA PAYOH NORTH
TOA PAYOH NORTH INDUSTIRAL ESTATE SINGAPORE 318996

	 	1.	 	We refer to your letter of Offer dated 3 November 2004
for the Tenancy and hereby confirm our acceptance of all the covenants, terms and
conditions of the Offer.
	 
	 	2.	 	We are currently on GIRO, thus we enclose herewith a cheque for the amount
of S$2,202.74 and a Banker’s/Insurance Guarantee for the amount of
S$1,918.80 (I month’s rental and service charge) as security deposit as
confirmation of our acceptance.
	 
	 	3.	 	Please be informed that we are taking over the fixtures and
fittings from the existing tenant Geist Communications Pte Ltd in
accordance with Clause 2.13(b) of your letter of offer.

	 	 	 	 	 
	 

	 	Name of Authorised signatory
	 	: /s/ Soon Siew Kuan
	 

	 	Designation
	 	Director of Logistics
	 
	 	 	 	 
	 

	 	For and on behalf of: TRIO-TECH	 	 
	 

	 	INTERNATIONAL PTE LTD In the	 	 
	 

	 	presence of:	 	 
	 
	 	 	 	 
	 

	 	Name of witness:
	 	/s/ Jalene Ng
	 
	 

	 	NRIC No.
	 	S8237997E

	 	 	 	 	 	 	 	 	 
	 

	 	REGIONAL HEAD OFFICE
	 	1008 Toa Pay6h North #03-09 Singapore 318996
	 	Tel! 62653300
	 	Fax:62596355
	 

	 	 	 	 	 	 	 	 
	 

	 	DISTRIBUTION OFFICE
	 	1008 Toa Payoh North #03-16 Singapore 318996
	 	Tel: 63549700
	 	 Fax:62599971
	 

	 	 	 	 	 	 	 	 
	 

	 	TEST & MANUFACTURING.:
	 	1004 Toa Payoh North #07-01 Singapore 318995
	 	Tel: 62540255
	 	Fax:62537060

 

 

	 	 	 
	 

	 	SPECIMEN BANK’S/FINANCE COMPANY’S/
	 

	 	INSURANCE COMPANY’S GUARANTEE FORM

GUARANTEE

(Please use guarantor’s letterhead)

TO:JTC CORPORATION
       THE
JTC SUMMIT
       8
JURONG TOWN HALL ROAD
       SINGAPORE
609434

WHEREAS:

[TRIO-TECH INTERNATIONAL PTE LTD] of [1008 TOA PAYOH NORTH 03-09 SINGAPORE 318996] (The
Tenant) is a tenant of the premises known as [UNIT #03-07/08 BLK 1008 TOA PAYOH NORTH TOA
PAYOH NORTH INDUSTRIAL ESTATE SINGAPORE 318996] (“the Premises”) pursuant to a letter of
offer dated [3 November 2004] from you to and duly accepted by the Tenant (“the Tenancy”,
which expression shall include any written amendments made to the Tenancy from time to
time).

IN CONSIDERATION OF your agreeing to grant the Tenancy and pursuant to a term of the Tenancy,
we, the undersigned, hereby unconditionally undertake to pay to you from time to time on first
demand the sum or aggregate sums not exceeding
[$___] (“the Full Guaranteed Sum”) if
accompanied by your statement that the Tenant is in breach of any of the Tenant’s Obligations
to you under the Tenancy and that the amount demanded is due and payable to you and remains
unpaid Provided That our liability under this Guarantee shall not exceed the Full Guaranteed
Sum.

Our liability under this Guarantee shall be that of a principal debtor and not by way of surety
and such liability shall not be discharged or affected by any event, act or omission whereby our
liability would have been discharged if we had been a surety.

This Guarantee is valid from [1 October 2004] and shall expire on [29 February 2008] (1he
expiry datel and our liability hereunder shall cease in respect of any claims made after
the expiry date.

Notwithstanding that this Guarantee may not have expired, our liability hereunder shall cease
forthwith upon our paying to you the Full Guaranteed Sum to be held by you as a security deposit
under the Tenancy.

[Date :

[Signature, names and designations of authorised signatories of Bank/Finance
Company/Insurance Company and rubber stamp of Bank/Finance Company/Insurance Company]

 

 

Please quote our reference when replying

Our Ref : JTC(L) 3279/199 Temp 10

Corporation

3 November 2004

	 	 	 	 
	 

	 	JTC Corporation	 
	 

	 	The JTC Summit	 
	TRIO-TECH INTERNATIONAL PTE LTD

	 	8 Jurong Town Hall Road	 
	1008 TOA PAYOH NORTH

	 	Singapore 609434	 
	 

	 		 
	 

	 	contact	 
	#03-09

	 	mntr. MWne 	1800 568 7000
	SINGAPORE(318996)

	 	main he 	6560 0056
	 

	 	By Local Urgent Mail 	(65) 6565 5301
	(Attention: MRS LEE SIEW KUAN

	 	website 	www.jtc.gov.sg

Dear Sirs,

OFFER OF TENANCY FOR FLATTED FACTORY SPACE

	1	 	We are phased to offer a tenancy of the Premises subject to the
covenants, terms and conditions in the annexed Memorandum of Tenancy
No. 27.09 (“the MT) and in this letter (collectively called “the Offer’).
	 
	2	 	2.1The Premises:

	 	 	 	Private Lot A0618406 also known as Unit #03-07/08 (“the Premises”)
in BLK 1008 TOA PAYOH NORTH      in the TOA
PAYOH NORTH INDUSTRIAL ESTATE SINGAPORE 318996 as
delineated and edged in red on the plan attached to the Offer.

     2.2 Term of Tenancy:

	 	 	 	3 years (“the Term”) with effect from 1 December 2004
(‘the Commencement Date”).

     2.3 Tenancy:

	 	(a)	 	Your due acceptance of the Offer in accordance with
Clause 3 of this letter shall, together with the Offer, constitute a
binding tenancy agreement (“the Tenancy”).
	 
	 	(b)	 	In the event of any inconsistency or conflict
between any covenant, term or condition of this letter and the MT,
the relevant covenant, term or condition in this letter shall
prevail.

 

 

2

     2.4 Area:

	 	 	 	Approximately 164 square metres (“the Area”).

     2.5 Rent:

	 	(a)	 	Discounted rate of $9.45 per square metre per month on the Area, for so long as you shall occupy by way of tenancy an
aggregate floor area of 5,000 to 9,999 square metres in the
Building or in the various dated factories belonging to us;
and
	 
	 	(b)	 	Discounted rate of $165 per square metre per month on the Area, in the event that the said aggregate floor area
occupied is at any time reduced to between 1,000 to 4,999
square metes in the Building or in the various flatted
factories belonging to us; and

	 
	 	(c)	 	Normal rate of $9.95 per square metre per month on the Area, in the event that the said aggregate floor area
occupied is at any time reduced to below 1,000 square
metres (when the discount shall be totally withdrawn) with
effect from the date of reduction in the said aggregate floor
area,
	 
	 	 	 	(“Rent”) to be paid without demand and in advance without deduction
on the 1st day of each month of the year (ie: 1st of January,
February, March, etc.). After your first payment is made in accordance with
Clause 3 of this letter and the attached Payment Table, the next payment
shall be made on 01 January 2005.

     2.8 Mode of Payment:

	 	(a)	 	Your first payment to be made with your letter of acceptance
in accordance with Clause 3 of this letter and the attached Payment Table
shall be by non-cash mode (eg, Cashiers Order, cheque).
	 
	 	(b)	 	Thereafter during the Term, you shall pay Rent, Service
Charge and GST by Interbank GIRO or any other mode to be determined by us.

 

 

3

	 	(c)	 	You have an existing account with us from which we shall deduct
the aforesaid payments. You are therefore not required to submit a duly
completed GIRO form as part of the Mode of Due Acceptance. But I you wish to
have a separate GIRO account to meet the aforesaid payments, please complete
the GIRO deduction form enclosed.

     2.9 Authorised Use :

	 	 	 	You shall use the Premises for the purpose of manufacturing and assembly of
electronics equipment only and for no other purpose whatsoever (“the Authorised
Use”).

     2.10 Approvals :

	 	 	 	The Tenancy is subject to approvals being obtained from the relevant
governmental and statutory authorities.

     2.11 Possession of Premises:

	 	(a)	 	Subject to your acceptance of the Offer, keys to the Premises
shall be made available to you within the period of two (2) months prior to
the Commencement Date.
	 
	 	(b)	 	From the date you accept the keys to the Premises
(“Possession Date”) until the Commencement Date, you shall be deemed a
licensee upon the same covenants, terms and conditions as in the Tenancy.
	 
	 	(c)	 	If you proceed with the Tenancy after the Commencement Date,
the licence fee payable from the Possession Date to the Commencement Date
shall be waived (“Rent-Free Period”). Should you 101 to so proceed,
you shall :

	 	(c1)	 	remove everything installed by you;
	 
	 	(c2)	 	reinstate the Premises to its original state and condition;
and
	 
	 	(c3)	 	pay us a sum equal to the prevailing market rent payable
for the period from the Possession Date up to the date
the installations are removed and reinstatement
completed to our satisfaction,

	 	 	 	without prejudice to any other rights and remedies we may have against you
under the Tenancy or at law.

 

 

4 

          2.12 Loading Capacity:

(a) Normal (Ground & Non-ground) Floor Premises

You shall comply and ensure compliance with the following restrictions :

	 	(a1)	 	maximum loading capacity of the goods lifts
in the Building; and
	 
	 	(a2)	 	 maximum floor loading capacity of 15 kiloNewtons per
square metre of the Premises on the 03 storey of the Building
PROVIDED THAT any such permitted load shall be evenly
distributed.

          2.13 Take-over of Premises:

(a) Vacant Possession

The Offer is subject to Geist Communications Pte Ltd returning vacant
possession of the Premises by 30 September 2004.

(b) Take-over of Fixtures and Fittings

If, however, you are taking over the Premises in its existing state and
condition, including all the fixtures and fittings installed by or
belonging to Geist Communications Pte Ltd (“the Said Installations
U) then :

	 	(b1)	 	You shall accept the Premises including the Said
Installations in its condition existing at the Commencement Date or the
acceptance of the keys to the Premises by you, whichever is the earlier
(‘the Control Date”).
	 
	 	(b2)	 	 You shall immediately or within such period as shall
be stipulated in writing by us, at your own cost and expense, ensure that
:

	 	(b2.1)	 	 the Said Installations have been approved in writing by us and
that plans on the Said Installations have been submitted to and
approved in writing by us;

 

 

5 

	 	(b2.2)	 	 the Said Installations comply fully with all our guidelines and
requirements (through the Building Control Unit), and those of the
relevant governmental and statutory authorities, prevailing at the
Control Date;
	 
	 	(03)	 	such or all of the Said Installations
not approved by us under b2. 1) or which have failed to comply
with (b2.2) are demolished and removed, subject to clauses 2.11,
2.12 and 2.13 of the MT; and

	 	(b3)	 	 At the termination of the Term, by expiry or
otherwise, you shall remove the Said Installations, and reinstate the
Premises in accordance with clause 2.22 of the MT.

          2.14 Option for Renewal of Tenancy :

	 	(a)	 	You may within 3 months before the expiry of the Term make a
written request to us for a further term of tenancy.
	 
	 	(b)	 	We may grant you a further term of tenancy of the Premises
subject to the following :

	 	(b1)	 	there shall be no breach of your obligations at
the time you make your request for a further term, and at the expiry of
the Term;
	 
	 	(b2)	 	 the duration of the further term shall be mutually
agreed upon;
	 
	 	(b3)	 	 the rent payable shall be at a revised rate to be
determined by us, having regard to the market rent of the Premises at the
time of granting the further term. Our determination of the rent shall be
final and conclusive; and
	 
	 	(b4)	 	 the tenancy for the further term shall be upon the
same covenants, terms and conditions except for the duration, rent
security deposit (which shall be equivalent to three (3) month’s rent and
service charge instead of two (2) months), and excluding a covenant for
renewal of tenancy.

 

 

6 

	3	 	Mode of Due Acceptance
	 
	 	 	The Offer shall lapse if we do not receive the following by 12 November 2004:

	 	(a)	 	Duly signed letter of acceptance (in duplicate) of the Offer, in the form
set out in the Letter of Acceptance attached (Please date as required in
your letter of acceptance)
	 
	 	(b)	 	Payment of the sum set out in the Payment Table attached.
	 
	 	(c)	 	Duly completed GIRO authorization form.

	4	 	Please note that payments made prior to your giving us the other items
listed above may be cleared by and credited by us upon receipt. However,
if those other items are not forthcoming from you within the time stipulated
herein, the Offer shall Apse and there shall be no contract between you
and us arising hereunder. Any payments received shall then be refunded
to you without interest and you shall have no claim of whatsoever nature
against us.

	 
	5	 	Rent-Free Period
	 
	 	 	As the Commencement Date will not be deferred, we advise you to accept the Offer as soon
as possible and to collect the keys to the Premises on the scheduled date in order to
maximize the Rent-Free Period referred to in Clause 2.11 (c) of this letter.
	 
	6	 	Variation to the Tenancy :
	 
	 	 	Any variation, modification, amendment, deletion, addition or otherwise of the Offer
shall not be enforceable unless agreed by both parties and reduced in writing by us. No
terms or representation or otherwise, whether expressed or implied, shall form part of
the Offer other than what is contained herein.

 

 

7 

	7	 	Car-Parking Scheme
	 
	 	 	The carpark for BLK 1008 TOA PAYOH NORTH is currently managed by P-PARKING INTERNATIONAL
PTE LTD and you will have to observe and be bound by all the rules and regulations
governing the use and operation of the carpark. You are requested to contact

736B GEYLANG ROAD

SINGAPORE 389647

Tel: 67494119

Fax: 67493689

on your use of the carpark.

	8	 	Electricity Connection:
	 
	 	 	Upon your acceptance of the Offer, you are advised to proceed expeditiously to engage a
registered Electrical consultant to submit two sets each of electrical single-line diagrams
and electrical layout plans to and in accordance mith the requirements of our Faclities
Management Section, Operations Support Department of our Customer Services Group, for
endorsement before an application is made to SP Services Ltd to open in account for
electricity connection.
	 
	 	 	Phase contact the Facilities Management Section at BIk 25 Kallang Avenue #05-02 Kallang
Basin Industrial Estate Singapore 339416 for their requirements.

 

 

8 

	9	 	To guide and assist you, We endose a Schedule of Statutory Controls for
Flatted Factory Occupants.

Yours faithfully

: /s/ Ginny P L Lam

INDUSTRIAL DEVELOPMENT (HIGH-RISE) DEPARTMENT

INDUSTRIAL PARKS DEVELOPMENT GROUP

JTC CORPORATION

DID: 68833388

FAX: 68855900

Email:lamplg@jtc.gov.sg

ENCS:

Y]
Payment
Table                         
þ GIRO Form(s)
þ Specimen BG Plan

þ Specimen Acceptance Form
þ MT No. 27.09

þ Schedule of Statutory Controls (SC2)]

 

 

9 

PAYMENT TABLE

PREMISES: PRIVATE LOT A0618406 UNIT #03-07108 BLK1008TOA

PAYOH NORTH TOA PAYOH NORTH INDUSTRIAL ESTATE SINGAPORE

318996

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Amount +5% GST	 
	Rent at $9.45 per square
metre per month on 164
square metres for the period I
December 2004 to 31
December 2004
	 	$	1549.8O	 	 	 	 	 	 	$	77.49	 
	$215 per square metre per
month on 164 square metres
for the period I December
2004 to 31 December 2004
	 	$	369.00	 	 	 	 	 	 	$	18.45	 
	Total Rent
Payable (inclusive & Service Charge)
	 	 	 	 	 	$	1918.80	 	 	$	95.94	 
	Security Deposit equivalent
to three (3) months’ Rent and
Service Charge (in cash or
Banker’s Guarantee provided
in accordance with Clause 2.7 of this letter)
	 	$	5756.40	 	 	 	 	 	 	 	 	 
	Less.
Equivalent of two (2) month’s
Rent and Service Charge (re
Off-budget Measure and GIRO)
	 	$	3837.60	 	 	$	1918.80	 	 	 	 	 

 

 

10 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Amount +5% GST	 
	Stamp fee payable on Letter
of Acceptance (which we will
stamp on your behalf)
Note: If the Letter is not
returned to us within 14 days
of the date of the Letter, you
will have to pay penalty on the
stamp duty which is imposed by Stamp Duty Office of IRAS.
	 	 	 	 	 	$	188.00	 	 	 	 	 
	Sub-Total Payable
	 	 	 	 	 	$	4025.60	 	 	$	95.94	 
	Add. GST @ 5 %
	 	 	 	 	 	$	95.94	 	 	 	 	 
	Total Payable inclusive of GST
	 	 	 	 	 	$	4121.54exv10w40

 

Exhibit 10.40

	 	 	 
	Univeral
	 	 
	 
	 	 
	(FAR EAST) PTE LTD

	 	7 MAY
	 
	 	 
	oc,eg- No: 198500319K
	 	 

	 	 	 	 	 	 	 	 	 
	Undertaking of Transferee
	 
	 	 	 	 	 	 	 	 
	Your Ref

	 	JTC(L) 3601/2506
	 	Date
	 	16 May, 2005	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	- 1.93
	 
	 	 	 	 	 	 	 	 
	To	 	Flatted Factory & Business Park Department
	 
	 	 	 	 	 	 	 	 
	 	 	The JTC Summit
	 
	 	 	 	 	 	 	 	 
	 	 	8 Jurong Town Hall Road
	 
	 	 	 	 	 	 	 	 
	 	 	Singapore 609434
	 
	 	 	 	 	 	 	 	 
	Attn	 	Daphne Loy

RE: TENANCY IN RESPECT OF PREMISES KNOWN AS

PTE LOT A 0618400 AT 1008 TOA PAYOH NORTH #01-09 /10 /11 Singapore 318996

     1, the undersigned hereby agree to assume and adopt all the
rights and liabilities in respect of the premises known as Pte Lot A 0618400
whether accrued on or before this date.

Thank you.

Yours faithfully

: /s/ Soon Siew Kuan

Director

Authorised Signatory for and on behalf of
    UNIVERSAL (FAREAST) PTE. LTD.

 

 

Universal A

   (FAR EAST) PTE LTD-

Reg. No: 198500319K

	 	 	 
	Part 2
	 	 
	Acceptance of Transferee
	 	 
	 
	 	 
	Your Ref

	 	JTC(L) 3601/2506 Temp 5
	 
	 	 
	Date

	 	16 May, 2005
	 
	 	 
	To

	 	Flatted Factory & Business Park Department
	 
	 	 
	 

	 	The JTC Summit
	 
	 	 
	 

	 	8 Jurong Town Hall Road
	 
	 	 
	 

	 	Singapore 609434
	 
	 	 
	  Attn

	 	Daphne Loy

RE: TENANCY IN RESPECT OF PREMISES KNOWN AS

PTE LOT A 0618400 AT 1008 TOA PAYOH NORTH #01-09 /10 /11 Singapore 318996 (“Premises”)

1 . We refer to your letter of consent dated 22 July 2004 (“Consent Letter”) issued on
the basis of and pursuant to the on-line application no. 26242 for approval for the
assignment and transfer of tenancy of the Premises (“the Application”) submitted by
TRIO-TECH INTERNATIONAL PTE LTD (“the Transferor”).

2. We confirm that as required under paragraph 5 of the Consent Letter, all payments,
documents and information required thereunder have been furnished for your review and
verification. In the event that further information or supporting materials are required,
we would be in a position to provide the same, on the understanding that your consent and
this acceptance are subject to your being satisfied with all payment made and documents
and information provided to you.

3. Subject to your verification of such payments, documents and information, we hereby
accept the terms and conditions set out in the Consent Letter in respect of the transfer
of tenancy of the Premises specified in the Application and agree to comply with the
same. We confirm and undertake that all matters set out in the Application on the basis
of and pursuant to which the Consent Letter was issued are and vOll remain at all
material times true, correct and accurate.

Yours faithfully,

: /s/ Soon Siew Kuan

Director

Authhorised signatory for and on behaff of

UNIVERSAL (FAREAST) PTE. LTD.

 

 

Part 1

Acceptance of Transferor

	 	 	 
	Your Ref

	 	JTC(L) 3601/2506
	 
	 	 
	Date

	 	16 May, 2005
	 
	 	 
	To

	 	Flatted Factory 8, Business Park Department
	 
	 	 
	 

	 	The JTC Summit
	 
	 	 
	 

	 	8 Jurong Town Hall Road
	 
	 	 
	 

	 	Singapore 609434
	 
	 	 
	Attn

	 	Daphne Loy

RE: TENANCY IN RESPECT OF PREMISES KNOWN AS

PTE LOT A 0618400 AT 1008 TOA PAYOH NORTH #01-09 /10 /11 Singapore 318996 (“Premises”)

1 . We refer to your letter of consent dated 22 July 2004 (“Consent Letter”) issued on the basis of and pursuant
to our on-line application for approval for the assignment and transfer of tenancy of the Premises (“the
Application”).

2. As required under paragraph 5 of the Consent Letter, we attach the various payments due and documents to be
produced for your review and verification. In the event that further information or supporting materials are
required, we would be in a position to provide the same, on the understanding that your consent and this
acceptance are subject to your being satisfied with all payments made and documents and information provided to
you.

3. Subject to your verification of such payments, documents and information, we hereby accept the terms and
conditions set out in the Consent Letter in respect of the transfer of tenancy of the Premises specified in the
Application and agree to comply with the same. We confirm and undertake that all matters set out in the
Application on the basis of and pursuant to which the Consent Letter was issued are and will remain at all
material times true, correct and accurate.

Thank you.

Yours
faithfully

:/s/ Lee-Soon Siew Kuan

  Director of Logistics to

  Authorised signatory for and on behalf of

  Trio-Tech International Pte Ltd

 

Undertaking of Transferor

	 	 	 
	Your Ref

	 	JTC(L) 3601/2506
	 
	 	 
	Date

	 	16 May, 2005
	 
	 	 
	To

	 	Flatted Factory & Business Park Department
	 
	 	 
	 

	 	The JTC Summit
	 
	 	 
	 

	 	8 Jurong Town Hall Road
	 
	 	 
	 

	 	Singapore 609434
	 
	 	 
	Attn

	 	Daphne Loy

RE: TENANCY IN RESPECT OF PREMISES KNOWN AS PTE LOT A0618400

AT 1008 TOA PAYOH NORTH #01-09 /10 /11 Singapore 318996

     Well, the undersigned hereby relinquish all our/my rights to and emitting from
the Tenancy Agreement of the premises known as Pte Lot A0618400 at 1008 TOA PAYOH NORTH
#01-09 /10 /11 Singapore 318996.

Thank you.

Yours faithfully

:/s/ Lee-Soon Siew Kuan

Director of Logistics
  Authorised
Signatory for

  and on behalf of Trio-

  Tech International Pte Ltd

 

 

	 	 	 
	File ref JTC(L) 3601/2506
	 	 
	 
	 	 
	22 July 2004
	 	 
	 
	 	 
	TRIO-TECH INTERNATIONAL PTE LTD
	1008 TOA PAYOH NORTH
	 	 
	40309M 8
	 	 
	SINGAPORE(318996)

	 	By fax and pos
	 

	 	Fax 62596355
	Attention to : MISS BETTY ANG
	                              HUMAN RESOURCE MANAGER

Dear Sirs,

TRANSFER OF TENANCY ON PTE LOT A0618400 (TO BE KNOWN AS A0958200)

AT 1008 TOA PAYOH NORTH #01-09 110 /11 Singapore 318996 (“Premises”)

1 . We refer to your online application (“the Application”) for approval of the proposed
transfer (“the Transfer”) of the tenancy agreement for the Premises between you, TRIO-TECH
INTERNATIONAL PTE LTD and us (“the Tenancy Agreement “) to the transferee named in the
Application, i.e. UNIVERSAL (FAR EAST) PTE. LTD, (the “Transferee”) and our in-principle approval
relating to the same dated 22 July 2004.

2. We have, in principle, no objection to the Transfer subject to the following
conditions being complied with:

	 	a)	 	You shall pay to us a non-refundable administrative fee of $200.00
(excluding GST at the prevailing rate) for our processing of the
Application, which fee is payable in any event and regardless of
whether the Transfer is eventually completed or our approval
subsequently revoked or withdrawn.
	 
	 	b)	 	The Transferee and you shall execute and deliver to us a Deed of
Novation (which will be prepared by our Legal Department) to effect
and thereby legally complete the Transfer within such period as we
sUpulate.
	 
	 	C)	 	You shall bear and pay to us the stamp duty on the Deed of
Novation, in duplicate. The stamp duty is $12.00.
	 
	 	d)	 	The Transferee and you shall respectively submit to us the
following Letters of Undertaking:

	 	(i)	 	undertaking from you, as the Transferor, whereby you shall
relinquish all rights to and emitting from the Tenancy

 

 

	 	 	 	Agreement, in the form as set out in ANNEX A on your letterhead; and
	 
	 	(ii)	 	undertaking from the Transferee whereby the Transferee
shall assume and adopt all the rights and liabilities in respect
of the Tenancy Agreement, in the form as set out in ANNEX
B on the Transferee’s letterhead.

	 	e)	 	The Transferee shall be deemed the new tenant of the Properties
for the term of the tenancy thereof with effect from the effective
novation, where the transfer/assignment arises from a corporate
reorganisation, Le , the Transferee shall be deemed to take over
the tenancy term of 3 years from the commencement date of such
term.
	 
	 	 	 	The Transferee shall furnish to us the security deposit as required under the Tenancy
Agreement in the form of a cash deposit of :
	 
	 	f)	 	$10,311.84. for the due performance of the Transferee’s obligations under the Tenancy
Agreement; and,
	 
	 	g)	 	Before completion of the Transfer, you shall settle all outstanding
rent, plus GST at the prevailing rate, interest accrued thereon ‘ and
all other sums plus GST at the prevailing rate owing to us in
respect of the Premises.
	 
	 	h)	 	Except for the payments to be made with the letter of acceptance
as provided in paragraph 5 below, which payment shall be by non
cash mode (e.g. cashier’s order or cheque), the Transferee shall
pay the rent, service charge and GST at the prevailing rate by
Interbank GIRD or any other mode to be determined by us.
Accordingly, the Transferee shall provide us with the duly
completed and signed GIRD authorisation form as attached.
However, pending the GIRD arrangement being finalised, the
Transferee shall pay the rent and GST at the prevailing rate as they
fall due by cheque.

3. A person (which term includes a body corporate) who is not a party to the
Tenancy shall have no right under the Contracts (Rights of Third Parties) Act (as
amended or revised from time to time) to enforce the covenants, terms or
conditions of this Tenancy.

4. Please note that this letter is concurrently copied to the Transferee, for the Transferee’s
acceptance of the terms herein in accordance with and as provided in paragraph 5 below.

2

 

4. Please note that this letter is concurrently copied to the Transferee, for the
Transferee’s acceptance of the terms herein in accordance with and as provided in paragraph 5
below.

5. We require acceptance of the above terms and conditions by both you, the Transferor, and the
Transferee and the submission to us of all the following which you shall procure within 2 weeks
from the date of this letter, failing which this letter shall lapse in which event our consent to
the Transfer shall be deemed revoked and cancelled and the administrative fee under paragraph
2(a) above shall be forfeited if already paid and nevertheless payable by you if not yet paid:

	 	a)	 	Duly signed letter of acceptance issued on your letterhead by you
as the Transferor in the form as set out in ANNEX D (Part 1)
accepting all the terms and conditions herein and confirming the
truth and accuracy of all matters stated in the Application.
	 
	 	b)	 	Duly signed letter of acceptance issued by and on the letterhead of
the Transferee in the form as set out in ANNEX D (Part 2)
accepting all the terms and conditions herein and confirming the
truth and accuracy of all matters stated in the Application.
	 
	 	c)	 	Cash deposit or in lieu thereof, a Banker’s Guarantee as mentioned in paragraph 2(g) above.
However, if you opt to pay your monthly rent, service charge and GST at the prevailing rate
by Interbank GIRO, the cash deposit payable by you, which is reduced from 3 months to 1 month
owing to off-budget measure, is $3,437.28.
	 
	 	d)	 	The remittance and our receipt of $222.00 made up as follows:

	 	 	 	 	 
	Admin fee (plus GST)
	 	$	210.00	 
	Stamp Duty
	 	$	12.00	 
	Total amount payable
	 	$	222.00	 

	 	 	 	(Please note that this $222.00 payment will be deducted via GIRO)
	 
	 	e)	 	The Letters of Undertaking in the forms set out in ANNEXES A and
B as mentioned in paragraphs 2(d)(i) and 2(d)(ii) above duly
issued by the Transferor and Transferee respectively.
	 
	 	f)	 	The Giro authorisation form duly executed by the Transferee as
mentioned in paragraph 2(k) above.
	 
	 	g)	 	A certified true copy of the Certificate of Incorporation or Certificate
of Registration, as the case may be, in respect of the Transferee
issued by the Registry of Companies and Businesses in Singapore.

3

 

	 	h)	 	If applicable, copies of the application forms submitted to and the clearance
letters obtained from the Pollution Control Department and Public Utilities Board
respectively in relation to the use of the Premises referred to in paragraph 2(l).

6. Please note that our consent herein is conditional upon:-

	 	a)	 	the acceptance of the terms and conditions herein and the delivery
of the documents and payments in referred to in paragraph 5 above and the verification thereof to our satisfaction; and
	 
	 	b)	 	all the information provided and the declarations made in the
Application being and remaining true, correct and accurate at all times.

7. Please note that this letter and its contents do not waive nor should they
be construed as or be deemed to be a waiver of any of our rights or remedies
against you or the Transferee, in respect of breaches (if any) on your part of any
term, covenant, condition or obligation under or in connection with the Tenancy
Agreement. Any waiver by us, to be effective, must be clearly and specifically
stated in writing.

8. Kindly advise us of your new address for future correspondence.

Yours faithfully,

:/s/ Mr Eric Lim

ASST MGR (LEASE MGT)

Flatted Factory & Business Park Department

Customer Services Group

LAE) : 68833717

HP: 91252956

Fax: 68855936

Email: tiansiong@jtc.gov.sg

Attd

Cc: UNIVERSAL (FAR EAST) PTE. LTD.

Blk 1008 Toa Payoh North

#0309M 8

Singapore 318996

 

 

	 	 	 
	Please quote our reference when replying

Our Ref : JTC(L)3601/2506 Temp 5

	 	
	 
	 	 
	10 September 2003
	 	 
	 
	 	 
	TRIO-TECH INTERNATIONAL PTE LTD

	 	JTC Corporation
	1008 TOA PAYOH NORTH

	 	The JTC Summit
	 

	 	8 Jurong Town HAI Road
	#0309M8

	 	Singapore 609434
	SINGAPORE(318996)
	 	 
	 

	 	telephone Q) 6560 0056
	(Attention : MISS BETTY ANG)
	 	 
	 

	 	facsimile (65) 6565 5301
	 

	 	web site www.jtc.gov.sg

6 SEP 2003

Dear Sirs

PROPERTY TAX REBATE AND REDUCTION OF SECURITY DEPOSIT FOR THE TENANCY OF THE FACTORY SPACE
KNOWN AS PRIVATE LOT A0618400 AT UNIT #01-09/10/11 BLK 1008, TOA PAYOH NORTH, TOA PAYOH NORTH
INDUSTRIAL ESTATE SINGAPORE 318996

	1	 	We refer to our letter of offer of tenancy for the above mentioned premises.
	 
	2	 	In response to the current economic condition, we will reduce, as an off-budget
measure, the security deposit from three months to one month to ease cash flow,
credit lines and reduce business costs. This measure is only available to
companies paying monthly rental on GIRO scheme.
	 
	3	 	We are pleased to inform you that subject to your valid acceptance of our offer, you
will enjoy
	 
	 	 	– a 1.5 % property tax rebate effective from I Jul 2003 to 31 December 2003
	 
	4	 	Our Statement of Account in the Letter of Offer of tenancy has reflected the above
reduction in property tax and security deposit. Please note that the reduction in
property tax and security deposit do not vary any other terms or stipulations in the

 

 

	5	 	Please contact me if you need further clarifications.

	 	 	 	 	 
	              Yours faithfully
	              :/s/ Yew Pong
	              LOH
	 	 	 	 
	    INDUSTRIAL DEVELOPMENT (HIGH-RISE) DEPARTMENT
	INDUSTRIAL PARKS DEVELOPMENT GROUP
	    JTC CORPORATION
	    DID

	 	68833411	 
	    FAX

	 	68855901	 
	    Email

	 	yewpong@jtc.gov.sg

	    ENCS
	 	 	 	 

 

 

	 	 	 
	Please quote our reference when replying

Our Ref : JTC(L)3601/2506 Temp 5

	 	
	 
	 	 
	10 September 2003
	 	 
	 
	 	 
	 

	 	JTC Corporation
	 

	 	-The JTC Summit
	TRIO-TECH INTERNATIONAL PTE LTD

	 	8 Jurong Town Hall Road
	1008 TOA PAYOH NORTH

	 	Singapore 609434
	#03-09/18
	 	 
	SINGAPORE(318996)

	 	telephone Q) 6560 0056
	 

	 	facsimile (65) 6565 5301
	(Attention: MISS BETTY ANG)

	 	web site www.jtc.gov.sg

BY LOCAL URGENT MAIL 

Dear Sirs,

OFFER OF TENANCY FOR FLATTED FACTORY SPACE

	1	 	We are pleased to offer a tenancy of te Premises subject to the covenant, terms
and conditions in the annexed Memorandum of Tenancy No. 27.09 (“the M7) and in
this letter (collectively called “the Offer”).
	 
	2	 	2.1 The Premises :

	 	 	 	Private Lot A0618400 also known as Unit #01 -09/10111 (“the Premises”) in
Block 1008 TOA PAYOH NORTH in the TOA PAYOH
NORTHINDUSTRIAL ESTATE SINGAPORE 318996 as delineated and edged in red on the plan attached to the Offer.
	 
	 	2.2	 	Term of Tenancy :
	 
	 	 	 	3 years (‘the Term) nth effect from 16 November
2003 (“the Commencement Date”).
	 
	 	2.3	 	Tenancy:

	 	(a)	 	Your due acceptance of the Offer in accordance with
Clause 3 of this letter shall, together with the Offer, constitute a
binding tenancy agreement
	 
	 	(b)	 	In the event of any inconsistency or conflict between any
covenant, term or condition of this letter and the MT, the relevant
covenant, term or condition in this letter shall prevail.

	 	2.4	 	Area :
	 
	 	 	 	Approximately 204.60 square metres (the
Area).

 

 

 2

	 	2.5	 	Rent
	 
	 	 	 	Rent (Discounted Rent)

	 	(a)	 	Discounted rate of Dollars $13.82 per square metre per
month on the Area, Or so long as you shall occupy by way of tenancy
an aggregate floor area of 6,127.50 square metres in the
Building or in the various hated factories belonging to us; and
	 
	 	(b)	 	Normal rate of Dollars $14.55 per square metre per month on the Area,
in the event that the said aggregate floor area occupied is at any time
reduced to below 1000 square metres (when the discount shall be totally
withdrawn) with effect from the date of reduction in the said
aggregate floor area,
	 
	 	 	 	(Rent) to be paid without demand and in advance without deduction on the 1 st day of
each moth of the year (i.e. 1 st of January, February, March, etc.). After your first
payment is made in accordance with Clause 3 of this letter and the attached Payment
Table, the next payment shall be made on 01 December 2003.

	 	2.6	 	Service Charge :
	 
	 	 	 	$125 per square metre per month (“Service Charge”) on the Area as charges Or
services rendered by us, payable by way of additional and further rent without demand on
the same date and in the same manner as the Rent, subject to our revision from time to
time.
	 
	 	2.7	 	Security Deposit/Banker’s Guarantee :
	 
	 	 	 	Ordinarily we would require a tenant to lodge with us a security deposit equivalent to
three (3) months’ rent and service charge. However, as an offbudget measure and as payment
by GIRO has been made a condition with which you must comply under clause 3 of this letter,
you shall, at the time of your acceptance of the Offer, place with us a deposit equivalent
to one (1) months’ Rent (at the discounted rate) and Service Charge
(“ Deposit”) as security against any breach of the covenants, terms and
conditions in the Tenancy, as follows :

	 	(a)	 	The Security Deposit may be in the form of cash or acceptable
Banker’s Guarantee in the form attached (effective from
16 September 2003 to 15 February 2007), or such
other form of security as we may in our absolute discretion permit or
accept.
	 
	 	(b)	 	The Security Deposit shall be maintained at the same sum throughout the Term and shall be
repayable to you without interest or returned to you for cancellation, after the termination
of the Term (by expiry or otherwise) or expiry of the Banker’s Guarantee, as the case may be,
subject to appropriate deductions or payment to us for damages or other sums due under the
Tenancy.

 

3

	 	(c)	 	If the Rent at the discounted rate is increased to the normal rate, or
Service Charge is increased, or any deductions are made from the Security
Deposit, you shall immediately pay the amount of such increase or make good
the deductions so that the Security Deposit shall at all times be equal to one
(1) months’ Rent (at the normal or discounted rate, as the case may be) and
Service Charge.
	 
	 	(d)	 	If at any time during the Term, your GIRO payment is discontinued,
then you shall place with us, within two (2) weeks of the date of
discontinuance of your GIRO payment, the additional sum equivalent to two (2)
month’s Re& and Service Charge, so that the Security Deposit shall at all
times be equal to three (3) months’ Rent (at the normal or discounted rate, as
the case may be) and Service Charge for the remaining period of the Term.
	 
	 	(e)	 	If at any time during the Term the off-budget measure is withdrawn
you shall, if required in writing by us, also pay to us the additional sum
equivalent to two (2) month’s Rent and Service Charge, so that the Security
Deposit shall at all times be equal to three (3) months’ Rent (at the normal
or discounted rate, as the case may be) and Service Charge for the remaining
period of the Term.

	 	2.8	 	Mode of Payment:

	 	(a)	 	Your first payment to be made with your letter of acceptance in
accordance with Clause 3 of this letter and the attached Payment Table shall be
by non-cash mode (eg, Cashier’s Order, cheque).
	 
	 	(b)	 	Thereafter during the Term, you shall pay Rent, Service Charge and
GST by Interbank GIRO or any other mode to be determined by us.
	 
	 	(c)	 	You have an existing account with us from which we shall deduct the
aforesaid payments. You are therefore not required to submit a duly
completed GIRO form as part of the Mode of Due Acceptance. But if you wish
to have a separate GIRO account to meet the aforesaid payments, please
complete the GIRO deduction form enclosed.

	 	2.9	 	Authorised Use :
	 
	 	 	 	‘You shall use the Premises for the purpose of MANUFACTURING AND ASSEMBLY OF
ELECTRONICS EQUIPMENT only and for no other purpose whatsoever (“the
Authorised Use”).
	 
	 	2.10	 	Approvals :
	 
	 	 	 	The Tenancy is subject to approvals being obtained from the relevant
governmental and statutory authorities.

 

4

	 	2.11	 	Possession of Premises :

	 	(a)	 	Subject to your acceptance of the Offer, keys to the Premises shall be made available to
you within the period of two (2) months prior to the Commencement Date.
	 
	 	(b)	 	From the date you accept the keys to the Premises (“Possession Date”) until the
Commencement Date, you shall be deemed a licensee upon the same covenants, terms and
conditions as in the Tenancy.
	 
	 	©	 	 If you proceed with the Tenancy after the Commencement Date, the licence fee payable from
the Possession Date to the Commencement Date shall be waived (“Rent-Free Period”).
Should you fail to so proceed, you shall :
	 
	 	(c1)	 	remove everything installed by you;
	 
	 	(c2)	 	 reinstate the Premises to its original state and condition; and
	 
	 	(c3)	 	 pay us a sum equal to the prevailing market rent payable for the
period from the Possession Date up to the date the installations
are removed and reinstatement completed to our satisfaction,
without prejudice to any other rights and remedies we may have against you under
the Tenancy or at law.

	 	2.12	 	Loading Capacity :

	 	(a)	 	Normal (Ground & Non-ground) Floor Premises
	 
	 	 	 	You shall comply and ensure compliance with the following restrictions

	 	(al)	 	maximum loading capacity of the goods lifts in the Building; and
	 
	 	(a2)	 	 maximum floor loading capacity of 15.00 kiloNewtons per
square metre of the Premises on the 01 storey of the Building
PROVIDED THAT any such permitted load shall be evenly distributed.

	 	2.13	 	Option for Renewal of Tenancy :

	 	(a)	 	You may within 3 months before the expiry of the Term make a written request to us for a further term of tenancy.
	 
	 	(b)	 	We may grant you a further term of tenancy of the Premises
subject to the following :

	 	(bl)	 	there shall be no breach of your obligations at the
time you make your request for a further term, and at the expiry of the
Term;
	 
	 	(b2) 	 	the duration of the further term shall be mutually agreed upon;

 

5

	 	(b3)	 	 the rent payable shall be at a revised rate
to be determined by us, having regard to the market rent of the
Premises at the time of granting the further term. Our
determination of the rent shall be final and conclusive; and
	 
	 	(b4)	 	 the tenancy for the further term shall be
upon the same covenants, terms and conditions except for the
duration, rent, security deposit (which shall be equivalent to
three (3) month’s rent and service charge instead of two (2)
months and excluding a covenant Or renewal of tenancy.

	3	 	Mode of Due Acceptance :
	 
	 	 	The Offer shall lapse if we do not receive the following by 16 September
2003:

	 	(a)	 	Duly signed letter of acceptance (in duplicate) of the Offer, in the
form set out in the Letter of Accerptance attached. (Please date as
required in your letter of acceptance)
	 
	 	(b)	 	Payment of the sum set out in the Payment Table
attached.
	 
	 	(c)	 	*Duly completed GIRO authorization form.

gR

	 	 	A copy of the letter of authorization from you to your
Banker.
	 
	4	 	Please note that payments made prior to your giving us the other items listed above
may be cleared by and credited by us upon receipt. However, if those other items
are not forthcoming from you within the time stipulated herein, the Offer shall lapse
and there shall be no contract between you and us arising hereunder. Any payments
received shall then be refunded to you without interest and you shall have no claim
of whatsoever nature against us.

	 
	5	 	Rent-Free Period :
	 
	 	 	As the Commencement Date will not be deferred, we advise you to accept the Offer
as soon as possible and to collect the keys to the Premises on the scheduled date
in order to maximize the Rent-Free Period referred to in Clause 2.11 (c) of this
letter.
	 
	6	 	Variation to the Tenancy :
	 
	 	 	Any variation, modification, amendment, deletion, addition or otherwise of the
Offer shall not be enforceable unless agreed by both parties and reduced in
writing by us. No terms or representation or otherwise, whether expressed or
implied, shall form part of the Offer other than what is contained herein.

 

6

	7	 	Car-Parking Scheme
	 
	 	 	The carpark for Blk 1008 TOA PAYOH NORTH is currently managed by P-PARKING INTERNATIONAL
PTE LTD and you will have to observe and be bound by all the rules and regulations
governing the use and operation of the carpark. You are requested to contact

1008 TOA PAYOH NORTH To 67494119 Faw 67493689 on
 you
use of the carpark.
	 
	8	 	Electricity Connection:
	 
	 	 	Upon your acceptance of the Offer, you are advised to proceed expeditiously to engage a
registered electrical consultant or competent contractor to submit three sets of
electrical single-line diagrams to and in accordance with the requirements of our
Property Support Department of our Customer Services Group at JTC East Zone Office, for
endorsement before an application is made to the Power Supply Pte Ltd to open an account
for electricity connection.
	 
	 	 	Please, therefore, contact the Property Support Department at #05-01 Blk 25 Kallang
Avenue, Kallang Basin Industrial Estate Singapore 339416 direct for their
requirements.
	 
	9	 	To guide and assist you, we endose a Schedule of Statutory Controls for Flatted Factory
Occupants.

:/s/ Yew Pong LOH

INDUSTRIAL DEVELOPMENT (HIGH-RISE) DEPARTMENT

INDUSTRIAL PARKS DEVELOPMENT GROUP

JTC CORPORATION DID:

68833411 FPOQ 68855901

Email: yewpong@jtc.gov.sg

ENCS:

	 	 	 
	þ Payment Table

	 	þ GIRO Form(s) þ SpecimenBGPlan
	þ Specimen Acceptance Form

	 	þ MTNo.27.09
	þ Schedule of Statutory Controls (SC2)]
	 	 

 

7

PAYMENT TABLE

PREMISES: PRIVATE LOT A0618400 UNIT #01-09 /10 /11BLOCK1008

TOA PAYOH NORTH TOA PAYOH NORTH INDUSTRIAL ESTATE,

SINGAPORE 318996

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Amount	 	 	 	 	 	 	+
4 16 GST	 
	Rent at $1182 psm per month
on 204.60 sqm for the period 16
November 2003 to 15
December 2003
	 	$	2827.57	 	 	 	 	 	 	$	113.10	 
	Less.
	 	 	 	 	 	 	 	 	 	 	 	 
	1.5% Off-budget Property Tax
Rebate (valid from 01/07/2003
to 31/1212003)
	 	$	42.41	 	 	 	 	 	 	$	1.70	 
	 
	 	$	2785.16	 	 	 	 	 	 	$	111.4O	 
	Service Charge at $2.25 psm
per month on 204.60 sqm for
the period 16 November 2003
to 16 December 2003
	 	$	460.35	 	 	 	 	 	 	$	18.41	 
	Total Rent Payable (inclusive of
Service Charge)
	 	 	 	 	 	$	3945.51	 	 	$	129.81	 
	Security Deposit equivalent to
three (3) months’ Rent and
Service Charge (in cash or
Banker’s Guarantee provided in
accordance with Clause 2.7 of
this letter)
	 	$	9163.77	 	 	 	 	 	 	 	 	 
	Less.
	 	 	 	 	 	 	 	 	 	 	 	 
	Equivalent of two (2) month’s
Rent and Service Charge (Le
Off-budget Measure and GIRO)
	 	$	6,575.84	 	 	$	3,287.93	 	 	 	 	 

 

8

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Amount	 	 	 	 	 	 	+4 16 GST	 
	Warnp fee payade on Letter of
Acceptance (which we will
stamp on your behalf)
Note: If the Letter is not
returned to us within 14 days of
the date of the Letter, you will
have to pay penalty on the
stamp duty which is imposed by
Stamp Duty Office of IRAS.
	 	 	 	 	 	$	318.10	 	 	 	 	 
	Sub-ToQl Payable
	 	 	 	 	 	$	6851.44	 	 	$	129.81	 
	Add. GST @ 4 1%
	 	 	 	 	 	$	129.81	 	 	 	 	 
	otal Payable inclusive of GST
	 	 	 	 	 	$	6,981.25	 	 	 	 	 

 

9

SPECIMEN BANK’S/FINANCE COMPANY’S/

INSURANCE COMPANY’S GUARANTEE FORM

GUARANTE

(Please use garanantor’s Letterhead)

TO: JTC CORPORATION

       THE JTC SUMMIT

       8 JURONG TOWN HALL ROAD

       SINGAPORE 609434

WHEREAS:

[TRIO-TECH INTERNATIONAL PTE LTD] of [ 6 KIAN TECK ROAD — SINGAPORE 628765] (“the Tenant”)
is a tenant of the premises known as [UNIT #01 -09/10/11 BLK 1008 TOA PAYOH NORTH TOA PAYOH
NORTH INDUSTRIAL ESTATE SINGAPORE 318996] (“the Premises”) pursuant to a letter of offer
dated [10 September 2003] from you to and duly accepted by the Tenant (“The Tenancy”, which
expression shall include any written amendments made to the Tenancy from time to time).

IN CONSIDERATION OF your agreeing to grant the Tenancy and pursuant to a term of the
Tenancy, we, the undersigned, hereby unconditionally undertake to pay to you from time to time
on first demand the sum or aggregate sums not exceeding [$
   1 (“the Full Guaranteed

Sum”) if accompanied by your statement that the Tenant is in breach of any of the Tenant’s
Obligations to you under the Tenancy and that the amount demanded is due and payable to you
and remains unpaid Provided That our liability under this Guarantee shall not exceed the Full
Guaranteed Sum.

Our liability under this Guarantee shall be that of a principal debtor and not by way of surety
and such liability shall not be discharged or affected by any event, act or omission whereby
our liability would have been discharged if we had been a surety.

This
Guarantee is valid from [16 September 2003] and shall expire on [16 February 2007] (“the expiry date”) and our liability hereunder shall cease 0 respect of any chims made
after the expiry date.

Notwithstanding that this Guarantee may not have expired, our liability hereunder shall cease
forthwith upon our paying to you the Full Guaranteed Sum to be held by you as a security
deposit under the Tenancy.

Date :

[Signature, names and designations of authorised signatories of Bank/Finance
Company/insurance Company and rubber stamp of Bank/Finance Company/insurance Company]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00091-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00091-of-00352.parquet"}]]