Document:

d1453398_ex4-25.htm

Exhibit 4.26

 

	
 

MEMORANDUM OF AGREEMENT

 

Dated: 16 December 2013

	
Norwegian Shipbroker' Association's Memo-

randum of Agreement for sale and purchase of 

ships. Adopted by The Baltic and International 

Maritime Council (BIMCO) in 1956.

Code-name

SALEFORM 1993

Revised 1966, 1983 and 1986/87.

	 	
Monte Carlo One Shipping Company Limited of Marshall Islands

 

Hereinafter called the Sellers, have agreed to sell, and

 

Top Ships Inc. of Marshall Islands or nominee

 

Hereinafter called the Buyers, have agreed to buy

 

Name: Hull Nr S407

 

Classification Society/Class:  ABS

Built:                                               By:   Hyundai Mipo Dockyard Co., Ltd

 

Flag:                                          Place of registration:

 

Call Sign:                                            Grt/Nrt:

 

Register IMO Number:

 

Hereinafter called the Vessel, on the following terms and conditions:

 

Definition

 

"Banking days" are days on which banks are open both in the country of the currency                           

stipulated for the Purchase Price in Clause 1 and in the place of closing stipulated in Clause 8.

 

"In writing" or "written" means a letter handed over from the Sellers to the Buyers or vice versa,

a registered letter, telex, telefax or other modern form of written communication.

 

"Classification Society" or "Class" means the Society referred to in line 6.

 

 

1.   Purchase price Thirty Seven million US Dollars ($37,000,000)

 

 

2.   Deposit

 

 

As security for the correct fulfilment of this Agreement the Buyers shall pay a deposit of 10% 20%

(twenty ten per cent) of the Purchase Price, i.e. Seven Million Four Hundred US Dollars ($7,400,000)

within -3 banking days -from the date of this  Agreement. This deposit shall be paid as follows: deposit

shall be refunded witplaced with

 

 

ALPHA BANK A.E.

SHIPPING FINANCE DIVISION

89, AKTI MIAOULI

185-38 PIRAEUS GREECE

SWIFT: CRBAGRAA

BENEFICIARY: MONTE CARLO ONE SHIPPING COMPANY LIMITED

ACCOUNT No:  960 01 5006 021256

IBAN: GR29 0140 9600 9600 1500 6021 256

 

USD CORRESPONDENT: CITIBANK NA

399 PARK AVENUE

NEW YORK, N.Y 10022 USA

SWIFT: CITIUS33XXX

	
1

 

2

 

3

 

4

 

5

 

6

 

7

 

8

 

9

 

10

 

11

12

 

13

14

 

15

 

 

 

16

 

 

17

 

 

18

19

20

 

 

21

22

23

24

 

25

 

26

 

 

 

 

27

28

29

 

 

  

  

  

 

	 	
and held by them into a joint  account for the Sellers and the Buyers, to be released in accordance with 

joint written instructions of the Sellers and the Buyers.  interest, if any, to be credited to the Buyers. Any\

 fee charged for  holding the said deposit shall be borne equally by the Sellers and the Buyers.

 

 

3.   Payment

 

The balance of the Purchase Price shall be paid in full free of bank charges to

Account to be nominated

 

on delivery of vessel, but not later than 3 banking days after the Vessel is in every respect physically 

ready for delivery in accordance with the terms and conditions of this Agreement and

Notice of Readiness has been given in accordance with clause 5. The buyer has the right to make the 

delivery payment directly to the shipyard as per the Shipbuilding Contract dated 7th February 2013.

	
 

	
4.

 

 

a)*

 

 

 

 

b)*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

*

 

 

 

 

5.

	
Inspections

 

Buyer has the right to inspect the vessel at any time during the construction period of the 

vessel at Vinashin Shipyard.

The Buyers have inspected and accepted the Vessel's classification records. The Buyers have 

also inspected the Vessel at/in                                     on

and have accepted the Vessel following this inspection and the sale is outright and definite,

subject only to the terms and conditions of this Agreement.

 

The Buyers shall have the right to inspect the Vessel's classification records and declare

whether same are accepted or not within

 

The Seller shall provide for inspection of the Vessel at/in

 

The Buyers shall undertake the inspection without undue delay to the Vessel. Should the

Buyers cause undue delay they shall compensate the Sellers for the losses thereby incurred.

The Buyers shall inspect the Vessel without opening up and without cost to the Sellers.

During the inspection, the Vessel's deck and engine log books shall be made available for

examination by the Buyers. If the Vessel is accepted after such inspection, the sale shall

become outright and definite, subject only to the terms and conditions of this Agreement,

provided the Sellers receive written notice of acceptance from the Buyers within 72 hours

after completion of such inspection.

Should notice of acceptance of the Vessel's classification records and of the Vessel not be

received by the Sellers as aforesaid, the deposit together with interest earned shall be

released immediately to the Buyers, whereafter this Agreement shall be null and void.

 

4a) and 4b) are alternatives; delete whichever is not applicable. In the absence of deletions, 

alternative 4a) to apply.

 

	
30

 

31

32

33

34

 

35

36

 

37

 

38

39

40

41

42

43

44

45

46

47

48

 

49

50

 

 

 

51

	
 

 

a)

 

 

 

 

 

b)

 

 

 

 

 

 

c)

	
Notice, time and place of delivery

 

The Sellers shall keep the Buyers well informed of the Vessel's construction process and 

shall deliver the vessel simultaneously with the delivery of the vessel from the yard to the 

Seller.                                      itinerary                                and                                               shall

provide the Buyers with   and   days notice of the estimated time of arrival at the intended place 

of drydocking/underwater inspection/delivery. When the Vessel is at the place of delivery and 

in every respect physically ready for delivery in accordance with this Agreement, the Sellers 

shall give the Buyers a written Notice of Readiness for delivery.

 

The Vessel shall be delivered and taken over at Vinashin Shipyard safely afloat at a safe and 

accessible berth or anchorage at/in as per shipbuilding contract dated 7th Feb 2013 which

the Buyer has seen and acknowledges.

 

in the Sellers' option.

 

Expected time of delivery: by 31 March 2015 permissible and non permissible delays as 

per shipbuilding contract dated 7th Feb 2013 which the Buyer has seen and 

acknowledges.

 

 

 

	
52

53

54

55

56

 

57

58

 

59

 

60

 

61

 

62

63

64

65

66

67

 

 

  

  

  

 

 

	
 

 

 

	

 

Date of cancelling (see clauses 5 c),6 b) (iii)and 14): as per shipbuilding contract dated 07th 

Feb 2013which the Buyer has seen and acknowledges.

 

 

If the Sellers anticipate that, notwithstanding the exercise of due diligence by them, the

Vessel will not be ready for delivery by the cancelling date they may notify the Buyers in

writing stating the date when they anticipate that the Vessel will be ready for delivery and

propose a new cancelling date. Upon receipt of such notification the Buyers shall have the

option of either cancelling this Agreement in accordance with Clause 14 within   7 running

days of receipt of the notice or of accepting the new date as the new cancelling date. If the

Buyers have not declared their option within   7 running days of receipt of the Sellers'

notification or if the Buyers accept the new date, the date proposed in the Sellers' notification

shall be deemed to be the new cancelling date and shall be substituted for the cancelling date 

stipulated in line 69,70.

 

If this Agreement is maintained with the new cancelling date all other terms and conditions

hereof including those contained in Clauses 5 a) and 5 c) shall remain unaltered and in full

force and effect. Cancellation or failure to cancel shall be entirely without prejudice to any

claim for damages the Buyers may have under Clause 14 for the Vessel not being ready by

the original cancelling date.

 

 

	
68

69

70

71

 

72

73

74

75

76

 

 

	
d)

 

 

 

 

6.

 

 

a)**

	
Should the Vessel become an actual, constructive or compromised total loss before delivery

the deposit shall be refunded immediately to the Buyers

whereafter this Agreement shall be null and void.

 

 

Drydocking/Divers Inspection

 

 

The Sellers shall place the Vessel in drydock at the port of delivery for inspection by the

Classification Society of the Vessel' s underwater parts below the deepest load line, the

extent of the inspection being in accordance with Classification Society's rules. If the

rudder, propeller, bottom or other underwater parts below the deepest load line are found

broken, damaged or defective so as to affect the Vessel' s class, such defects shall be made

good at the Sellers' expense to the satisfaction of the Classification Society without

	

77

78

79

 

 

80

 

 

81

82

83

84

85

86

 

	
b)**

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

	
condition/recommendation*.

 

(i)   The Vessel is to be delivered without drydocking. However, the Buyers shall

have the right at their expense to arrange for an underwater inspection by a diver approved

by the Classification society prior to the delivery of the Vessel. The Sellers shall at their

cost make the Vessel available for such inspection. The extent of the inspection and the

conditions under which it is performed shall be to the satisfaction of the Classification

Society. If the conditions at the port of delivery are unsuitable for such inspection, the

Sellers shall make the Vessel available at a suitable alternative place near to the delivery

port.

 

(ii)      If the rudder, propeller, bottom or  other underwater parts below the deepest load line

are found broken, damaged or defective so as to effect the Vessel's class, then unless

repairs can be carried out afloat to the satisfaction of the Classification society, the Sellers

shall arrange for the Vessel to be drydocked at their expense for inspection by the

Classification society of the Vessel' s underwater parts below the deepest load line, the

extent of the inspection being in accordance with the Classification Society's rules. If the

rudder, propeller, bottom or other underwater parts below the deepest load line are found

broken, damaged or defective so as to effect the Vessel' s class, such defects shall be made

good by the Sellers at their expense to the satisfaction of the classification society

without condition/recommendation*. In such event the Sellers are to pay also for the cost of

the underwater inspection and the Classification Society's attendance.

 

(iii)      If the Vessel is to be drydocked pursuant to Clause 6 b) (ii) and no suitable dry-

docking facilities are available at the port of delivery, the Sellers shall take the Vessel

to a port where suitable drydocking facilities are available ,whether within or outside the

delivery range as per Clause 5 b). Once drydocking has taken place the Sellers shall deliver

the Vessel at a port within the delivery range as per clause 5 b) which shall, for the

purpose of this clause, become the new port of delivery. In such event the cancelling date

 

	
87

 

88

89

90

91

92

93

94

95

 

96

97

98

99

100

101

102

103

104

105

106

 

107

108

109

110

111

112

 

  

  

  

	
 

 

 

c)

 

	

provided for in clause 5 b) shall be extended by the additional time required for the

dry-docking and extra steaming, but limited to a maximum of 14 running days.

 

If the vessel is drydocked pursuant to Clause 6 a) or 6 b) above

 

 

(i)      the Classification Society may require survey of the tailshaft system, the extent of

the survey being to the satisfaction of the Classification surveyor. If such survey is not

required by the Classification Society, the Buyers shall have the right to require the tailshaft

to be drawn and surveyed by Classification Society, the extent of the survey being in

accordance with the Classification Society's rules for tailshaft survey and consistent with

the current stage of the Vessel survey cycle. The Buyers shall declare whether they

require the tailshaft to be drawn and surveyed not later than by the completion of the

inspection of the Classification Society. The drawing and refitting of the tailshaft shall be

arranged by the Sellers.  Should any parts of the tailshaft system be condemned or found

defective so as to effect the Vessel' s class, those parts shall be renewed or made good at

the Sellers' expense to the satisfaction of the Classification Society without

condition/recommendation*.

 

	

113

114

 

115

 

 

116

117

118

119

120

121

122

123

124

125

126

127

 

 

 

 

 

	  	

(ii)      the expenses relating to the survey of the tailshaft system shall be borne

by the Buyers unless the Classification Society requires such survey to be carried out , in

which case the Sellers shall pay these expenses. The Sellers shall also pay the expenses

if the Buyers require the survey and parts of the system are condemned or found defective

or broken so as to effect the vessel' s class*.

 

(iii)       the expenses in connection with putting the Vessel in and taking her out

of drydock, including the drydock dues and the Classification Society' s fees shall be paid by

the Sellers if the Classification Society issues any condition/recommendation* as a result

of the survey or if it requires survey of the tailshaft system.  In all other cases the Buyers

shall pay the aforesaid expenses, dues and fees.

 

(iv)            the Buyers' representative shall have the right to be present in the drydock, but

without interfering with the work or decisions of the Classification surveyor.

 

(v)         the Buyers shall have the right to have the underwater parts of the Vessel

cleaned and painted at their risk and expense without interfering with the Sellers' or the

Classifications surveyor's work, if any, and without affecting the Vessel' s timely delivery. If,

however, the Buyers' work in drydock is still in progress when the Sellers have

completed the work which the Sellers are required to do, the additional docking time

needed to complete the Buyers' work shall be for the Buyers' risk and expense. In the event

 that the Buyers' work requires such additional time, the Sellers may upon completion of the 

Sellers' work tender Notice of Readiness for delivery whilst the Vessel is still in drydock

and the Buyers shall be obliged to take delivery in accordance with Clause 3 , whether

the vessel is in drydock or not and irrespective of Clause 5 b).

 

*            Notes, if any, in the surveyor's report which are accepted by the classification Society

without condition/recommendation are not to be taken into account.

 

**    6a)and 6 b) are alternatives; delete whichever is not applicable. In the absence of 

deletions, alternative 6 a) to apply.

 

 

 

7.          Spares/bunkers, etc.

 

 as per shipbuilding contract dated 7th Feb 2013

The Sellers shall deliver the Vessel to the Buyers with everything belonging to her on board and on shore. 

All spare parts and spare equipment including spare tail-end shaft(s) and/or spare propeller(s)/propeller 

blade(s), if any, belonging to the Vessel at the time of inspection used or

unused, whether on board or not shall become the Buyers' property, but spares on order are to be

 excluded. Forwarding charges, if any, shall be for the Buyers' account. The Sellers are not required to

replace spare parts including spare tail-end shaft(s) and spare propeller(s)/propeller blade(s) which

	

128

129

130

131

132

 

133

134

135

136

137

 

138

139

 

140

141

142

143

144

145

146

147

148

149

 

150

151

 

152

153

 

 

 

154

 

155

156

157

158

159

160

161

 

 

  

  

  

 

	  	

are taken out of spare and used as replacement prior to delivery, but the replaced items shall be the  

property of the Buyers. The radio installation and navigational equipment shall be included in the sale

without extra payment if they are the property of the Sellers. Unused stores and provisions shall be

included in the sale and be taken over by the Buyers without extra payment.

 

The Sellers have the right to take ashore crockery, plates, cutlery, linen and other articles bearing the

Seller's flag or name, provided they replace same with similar unmarked items. Library, forms, etc.,

exclusively for use in the Sellers' vessel(s),shall be excluded without compensation. Captain's

Officers' and Crew's personal belongings  including the slop chest are to be excluded from the sale,

as well as  the following additional items (including items on hire):

 

 

 

 

 

The Buyers shall take over the remaining bunkers and unused lubricating oils in storage tanks and

sealed drums and pay the current net marked price (excluding barging expenses) at the port and date

of delivery of the Vessel.

Payment under this Clause shall be made at the same time and place and in the same currency as

the Purchase Price.

	

162

163

164

 

165

166

167

168

169

 

 

 

 

 

 

170

171

172

173

174

 

 

 

	
 

	
8.            Documentation.

 

The place of closing : ULSAN KOREA or Vietnam or Athens

 

In exchange for payment of the Purchase Price the Sellers shall furnish the Buyers with delivery

documents, namely:

 

a) Legal Bill of Sale in a form recordable in the country in which the Buyers are

    to  register  the Vessel, warranting that the Vessel is free from all encumbrances,mortgages

   and  maritime liens or any other debts or claims whatsoever, duly notarially attested and

    legalized   by  the  consul of such country or other competent authority.

 

b) Current Certificate of Ownership issued by the competent authorities of the flag state of

      the Vessel.

 

c)   Confirmation of Class issued within 72 hours prior to delivery.

 

d)  Current Certificate issued by the competent authorities stating that the Vessel is free from

      register encumbrances.

 

e)  Certificate of deletion of the Vessel from the Vessel' s registry or other official evidence of

    deletion appropriate to the Vessel' s registry at the time of delivery, or, in the event that the

    registry  does not as a matter of practice issue such documentation immediately, a written

     undertaking by the Sellers to effect deletion from the Vessel' s registry forthwith and furnish a

     Certificate  or other official evidence of deletion to the Buyers promptly and latest within 4

      (four) weeks after the purchase Price has been paid and the Vessel has been delivered.

 

f)   Any such additional  documents as may reasonably be required by the competent authorities

     for the purpose of registering the Vessel provided the Buyers notify the Sellers of any such

    documents as soon as possible after the date of this Agreement.

 

At the time of delivery the Buyers and Sellers shall sign and deliver to each other a Protocol of

Delivery and Acceptance confirming the date and time of delivery of the Vessel from the 

Sellers to the Buyers.

 

At the time of delivery the Sellers shall hand to the Buyers the classification certificate(s) as 

well as all plans etc., which are on board the Vessel. Other certificates which are on board the 

Vessel shall alsobe handed over to the Buyers unless the Sellers are required to retain same, in 

which casethe Buyers to have the right to take copies. Other technical documentation which 

may be in the Sellers' possession shall be promptly forwarded to the Buyers at Buyers expense, if 

they so request. The Sellers may keep the Vessel' s log books but the Buyers to have the right to take

copies of same.

 

 

	
175

 

176

 

177

178

 

179

180

181

182

 

183

184

 

185

 

186

187

 

188

189

190

191

192

193

 

194

195

196

 

197

198

199

 

200

201

202

203

204

205

206

 

 

 

 

 

  

  

  

 

	 	

 

9.    Encumbrances

 

The Sellers warrant that the Vessel, at the time of delivery, is free from all charters, encumbrances,

mortgages and maritime liens or any other debts whatsoever. The Sellers hereby undertake

to indemnify the Buyers against all consequences of claims made against the Vessel which have

been incurred prior to the time of delivery.

 

 

10.   Taxes,etc.

 

Any taxes, fees and expenses in connection with the purchase and registration under the Buyers' flag

shall be for the Buyers account, where as similar charges in connection with the closing of the Sellers'

register shall be for the Sellers' account.

 

	

207

 

208

209

210

211

 

 

212

 

213

214

215

 

 

	
 

	
11.   Condition on delivery

 

The Vessel with everything belonging to her shall be at the Sellers' risk and expense until she is

delivered to the Buyers, but subject to the terms and conditions of this Agreements she shall be

delivered and taken over as she was at the time of inspection, fair wear and tear excepted.

However, the Vessel shall be delivered with her class maintained without condition/recommendation*,

free of average damage affecting the Vessel's class, and with her classification certificates and

national certificates, as well as all other certificates the Vessel had at the time of inspection, valid and

unextended without condition/recommendation* by Class or relevant authorities at the time of

delivery.

"Inspection" in this Clause 11, shall mean the Buyers' inspection according to Clause 4 a) or 4 if

applicable, or the buyers inspection prior to the signing of this Agreement . If the Vessel is taken over

without inspection, the date of this Agreement shall be the relevant date.

 

*    Notes, if any, in the surveyor' s reports which are accepted by the Classification Society

       without condition/recommendation are not to be taken into account.

 

 

 

12.   Name/markings

 

Upon delivery the Buyers undertake to change the name of the Vessel and alter funnel 

markings.

 

 

 

13.   Buyers' default

 

Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel this

Agreement, and they shall be entitled to claim compensation for their losses and for all expenses

incurred together with interest.

Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to

cancel the Agreement, in which case the deposit together with interest earned shall be released to the

Sellers. If the deposit does not cover their loss , the Sellers shall be entitled to claim further

compensation for their losses and for all expenses incurred together with interest.

 

 

 

14.   Sellers' default

 

Should the Sellers fail to give Notice of Readiness in accordance with Clause 5 a) or fail to be ready

to validly complete a legal transfer by the date stipulated in line 63 the Buyers shall have

the option of cancelling this Agreement provided always that the Sellers shall be granted a

maximum of 3 banking days after Notice of Readiness has been given to make arrangements

for the documentation set out in Clause 8. If after Notice of Readiness has been given but before

the Buyers have taken delivery, the Vessel ceases to be physically ready for delivery and is not

made physically ready again in every respect by the date stipulated in line 63 and new Notice of

Readiness given, the Buyers shall retain their option to cancel. In the event that the Buyers elect

to cancel this Agreement the deposit together with interest earned shall be released to them

immediately.

Should the Sellers fail to give Notice of Readiness by the date stipulated in line 63 or fail to be ready

to validly complete a legal transfer as aforesaid they shall make due compensation to the Buyers for

their loss and for all expenses together with interest if their failure is due to proven

negligence and whether or not the Buyers cancel this Agreement.

	
216

 

217

218

219

220

221

222

223

224

225

226

227

 

228

229

 

 

 

230

 

231

 

 

 

232

 

233

234

235

236

237

238

239

 

 

 

240

 

241

242

243

244

245

246

247

248

249

250

251

252

253

254

 

  

  

  

 

	
 

	
 

15.  Buyers' representatives

 

 

After this Agreement has been signed by both parties and the deposit has been lodged, the Buyers

have the right to place two representatives on board the Vessel at their sole risk and expense upon

arrival at on or about

These representatives are on board for the purpose of familiarisation and in the capacity of

observers only, and they shall not interfere in any respect with the operation of the Vessel. The

Buyers' representatives shall sign the Sellers' letter of indemnity  prior to their embarkation.

	
 

 

255

 

 

256

257

258

259

260

261

 

	
16.

 

a)*

 

 

 

 

 

 

 

 

 

b)*

 

 

 

 

 

 

 

 

c)*

 

 

 

*

	
Arbitration

 

This Agreement shall be governed by and construed in accordance with English law and

any dispute arising out of this Agreement shall be referred to arbitration in London in

accordance with the Arbitration Acts 1950 and 1979 or any statutory modification or

re-enactment thereof for the time being in force, one arbitrator being appointed by each

party. On the receipt by one party of the nomination in writing of the other party' s arbitrator, that 

party shall appoint their arbitrator within fourteen days, failing which the decision of the single

arbitrator appointed shall apply. If two arbitrators properly appointed shall not agree they shall

appoint an umpire whose decision shall be final.

.

 

This Agreement shall be governed by and construed in accordance with Title 9 of the

United Stage Code and the  Law of the State of New York and should any dispute arise out of

this Agreement, the matter in dispute shall be referred to three persons at New York, one to

be appointed by each of the parties hereto, and the third by the two so chosen; their

decision or that of any two of them shall be final, and for purpose of enforcing any award, this

Agreement may be made a rule of the Court.

The proceedings shall be conducted in accordance with the rules of the Society of Maritime

Arbitrators Inc. New York.

 

Any dispute arising out of this Agreement shall be referred to arbitration at

                                                                      , subject to the procedures applicable there.

 The laws of                                                  shall govern this Agreement.

 

16a),16b)and 16c) are alternatives; delete whichever is not applicable. In the absence of 

deletions, alternative 16 a) to apply.

	
262

 

263

264

265

266

267

268

269

270

 

 

271

272

273

274

275

276

277

278

 

279

280

281

 

282

283

 

	
 

	
Clause 17

 

 

THE PRICE, TERMS AND CONDITIONS OF THE SALE TO BE KEPT STRICTLY  PRIVATE AND 

CONFIDENTIAL BY ALL PARTIES CONCERNED. HOWEVER, THE BUYER BEING PUBLICLY LISTED 

COMPANY HAS THE RIGHT TO ANNOUNCE THE PURCHASE TO THE MARKET.  SHOULD THE  

DETAILS OF THE SALE BECOME KNOWN OR REPORTED IN THE MARKET, NEITHER THE 

BUYERS  NOR THE SELLERS SHALL HAVE THE RIGHT TO CANCEL THIS CONTRACT.

 

Clause 18

As the Vessel is currently under construction the Buyer agrees to purchase the Vessel on a  back 

to back basis and in accordance with the provisions of the Shipbuilding contract dated 7th Feb 

2013which he has seen and approved.                        

	
 

 

	 	FOR THE SELLERS	 	FOR THE BUYERS	 
	 	 	 	 	 
	 	/s/ Ioannis Lymperopoulos	 	/s/ Alexandros Tsirikos	 
	 	Ioannis Lymperopoulos	 	Alexandros Tsirikos	 
	 	 Director	 	Director 16/12/2013	 
	 	 	 	 	 
	 	..............................................  	 	..................................................Unassociated Document

Exhibit 4.26

 

	
 

MEMORANDUM OF AGREEMENT

 

Dated: 6th Feb 2014

	
Norwegian Shipbroker' Association's 

Memorandum of Agreement for sale 

and purchase of ships. Adopted by 

The Baltic and International 

Maritime Council (BIMCO) in 1956.

Code-name

SALEFORM 1993

Revised 1966, 1983 and 1986/87.

	 	
Million Hope Maritime S.A of Marshall Islands

 

Hereinafter called the Sellers, have agreed to sell, and

 

Top Ships Inc. of Marshall Islands or nominee

 

Hereinafter called the Buyers, have agreed to buy

 

Name: Hull Nr S406

 

Classification Society/Class:  ABS

Built:                                               By:   Hyundai Mipo Dockyard Co., Ltd

 

Flag:                                          Place of registration:

 

Call Sign:                                            Grt/Nrt:

 

Register IMO Number:

 

Hereinafter called the Vessel, on the following terms and conditions:

 

Definition

 

"Banking days" are days on which banks are open both in the country of the currency                           

stipulated for the Purchase Price in Clause 1 and in the place of closing stipulated in Clause 8.

 

"In writing" or "written" means a letter handed over from the Sellers to the Buyers or vice versa,

a registered letter, telex, telefax or other modern form of written communication.

 

"Classification Society" or "Class" means the Society referred to in line 6.

 

 

1.   Purchase price Thirty Eight million Two Hundred and Fifty ($38,250,000)

 

 

2.   Deposit

 

As security for the correct fulfilment of this Agreement the Buyers shall pay a deposit of USD 

10,900,000 out of which the amount of USD 7,400,000 has already been paid to Monte Carlo 

One Shipping Company Limited, a company of same beneficial ownership. The remaing USD 

3,500,000 is to be paid  within 3 banking days from the date of this  Agreement. This deposit 

shall be paid as follows:

 

 

ALPHA BANK A.E.

89, AKTI MIAOULI

18538 PIRAEUS GREECE

SWIFT ADDRESS:CRBAGRAA

NEW Account Number:  960-00-2007014186

NEW IBAN: GR73 0140 9600 9600 0200 7014 186

 

	
1

 

2

 

3

 

4

 

5

 

6

 

7

 

8

 

9

 

10

 

11

12

 

13

14

 

15

 

 

 

16

 

 

17

 

 

18

19

20

 

 

21

22

23

24

 

25

 

26

 

 

  

  

  

 

	 	
BENEFICIARY: MILLION HOPE MARITIME SA

CORRESPONDING BANK:

EUR: DEUTSCHE BANK AG,

 12-21 TAUNUSANLAGE, FRANKFURT AM MAIN

SWIFT ADDRESS: DEUTDEFFXXX

 

 

 

and held by them into a joint  account for the Sellers and the Buyers, to be released in 

accordance with joint written instructions of the Sellers and the Buyers.  interest, if any, to be 

credited to the Buyers. Any fee charged for  holding the said deposit shall be borne equally by 

the Sellers and the Buyers.

 

 

3.   Payment

 

The balance of the Purchase Price i.e USD 27,350,000 shall be paid in full free of bank charges 

to an account to be nominated

 

on delivery of vessel, but not later than 3 banking days after the Vessel is in every respect 

physically ready for delivery in accordance with the terms and conditions of this Agreement and

Notice of Readiness has been given in accordance with clause 5. The buyer has the right to 

make the delivery payment directly to the shipyard as per the Shipbuilding Contract dated 3 

December 2012. The Buyers has also the right to pay the whole amount in shares at a 

conversion rate to be agreed between the parties before the delivery of the Vessel.

	
 

27

28

29

	
4.

 

 

a)*

 

 

 

 

b)*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

*

 

 

 

5.

	
Inspections

 

Buyer has the right to inspect the vessel at any time during the construction period of the 

vessel at Vinashin Shipyard.

The Buyers have inspected and accepted the Vessel's classification records. The Buyers have 

also inspected the Vessel at/in                                     on

and have accepted the Vessel following this inspection and the sale is outright and definite,

subject only to the terms and conditions of this Agreement.

 

The Buyers shall have the right to inspect the Vessel's classification records and declare

whether same are accepted or not within

 

The Seller shall provide for inspection of the Vessel at/in

 

The Buyers shall undertake the inspection without undue delay to the Vessel. Should the

Buyers cause undue delay they shall compensate the Sellers for the losses thereby incurred.

The Buyers shall inspect the Vessel without opening up and without cost to the Sellers.

During the inspection, the Vessel's deck and engine log books shall be made available for

examination by the Buyers. If the Vessel is accepted after such inspection, the sale shall

become outright and definite, subject only to the terms and conditions of this Agreement,

provided the Sellers receive written notice of acceptance from the Buyers within 72 hours

after completion of such inspection.

Should notice of acceptance of the Vessel's classification records and of the Vessel not be

received by the Sellers as aforesaid, the deposit together with interest earned shall be

released immediately to the Buyers, whereafter this Agreement shall be null and void.

 

4a) and 4b) are alternatives; delete whichever is not applicable. In the absence of deletions, 

alternative 4a) to apply.

 

	
30

 

31

32

33

34

 

35

36

 

37

 

38

39

40

41

42

43

44

45

46

47

48

 

49

50

 

 

 

51

 

  

  

  

 

	
 

 

a)

 

 

 

 

 

b)

 

 

 

 

 

 

 

 

c)

	
Notice, time and place of delivery

 

The Sellers shall keep the Buyers well informed of the Vessel's construction process and 

shall deliver the vessel simultaneously with the delivery of the vessel from the yard to the 

Seller.                                      itinerary                                and                                               shall

provide the Buyers with   and   days notice of the estimated time of arrival at the intended place 

of drydocking/underwater inspection/delivery. When the Vessel is at the place of delivery and 

in every respect physically ready for delivery in accordance with this Agreement, the Sellers 

shall give the Buyers a written Notice of Readiness for delivery.

 

The Vessel shall be delivered and taken over at Vinashin Shipyard safely afloat at a safe and 

accessible berth or anchorage at/in as per shipbuilding contract dated 3 December 2012

which the Buyer has seen and acknowledges in the Sellers' option.

 

Expected time of delivery: on or about 31st May, 2014 plus three months from the date of 

delivery of the yard, subject to permissible and non permissible delays as  per 

shipbuilding contract dated 3 December 2012 which the Buyer has seen and 

acknowledges.

 

 

 

Date of cancelling (see clauses 5 c),6 b) (iii)and 14): as per shipbuilding contract dated 3 

December 2012 which the Buyer has seen and acknowledges.

 

 

If the Sellers anticipate that, notwithstanding the exercise of due diligence by them, the

Vessel will not be ready for delivery by the cancelling date they may notify the Buyers in

writing stating the date when they anticipate that the Vessel will be ready for delivery and

propose a new cancelling date. Upon receipt of such notification the Buyers shall have the

option of either cancelling this Agreement in accordance with Clause 14 within   7 running

days of receipt of the notice or of accepting the new date as the new cancelling date. If the

Buyers have not declared their option within   7 running days of receipt of the Sellers'

notification or if the Buyers accept the new date, the date proposed in the Sellers' notification

shall be deemed to be the new cancelling date and shall be substituted for the cancelling date 

stipulated in line 69,70.

 

If this Agreement is maintained with the new cancelling date all other terms and conditions

hereof including those contained in Clauses 5 a) and 5 c) shall remain unaltered and in full

force and effect. Cancellation or failure to cancel shall be entirely without prejudice to any

claim for damages the Buyers may have under Clause 14 for the Vessel not being ready by

the original cancelling date.

	
52

53

54

55

56

 

57

58

 

59

 

60

 

61

 

62

63

64

65

66

67

68

69

70

71

 

72

73

74

75

76

 

 

 

	
d)

 

 

 

 

6.

 

 

a)**

	
Should the Vessel become an actual, constructive or compromised total loss before delivery

the deposit shall be refunded immediately to the Buyers

whereafter this Agreement shall be null and void.

 

 

Drydocking/Divers Inspection

 

 

The Sellers shall place the Vessel in drydock at the port of delivery for inspection by the

Classification Society of the Vessel' s underwater parts below the deepest load line, the

extent of the inspection being in accordance with Classification Society's rules. If the

rudder, propeller, bottom or other underwater parts below the deepest load line are found

broken, damaged or defective so as to affect the Vessel' s class, such defects shall be made

good at the Sellers' expense to the satisfaction of the Classification Society without

	
77

78

79

 

 

80

 

 

81

82

83

84

85

86

 

  

  

  

 

	
b)**

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

c)

	
condition/recommendation*.

 

(i)   The Vessel is to be delivered without drydocking. However, the Buyers shall

have the right at their expense to arrange for an underwater inspection by a diver approved

by the Classification society prior to the delivery of the Vessel. The Sellers shall at their

cost make the Vessel available for such inspection. The extent of the inspection and the

conditions under which it is performed shall be to the satisfaction of the Classification

Society. If the conditions at the port of delivery are unsuitable for such inspection, the

Sellers shall make the Vessel available at a suitable alternative place near to the delivery

port.

 

(ii)      If the rudder, propeller, bottom or  other underwater parts below the deepest load line

are found broken, damaged or defective so as to effect the Vessel's class, then unless

repairs can be carried out afloat to the satisfaction of the Classification society, the Sellers

shall arrange for the Vessel to be drydocked at their expense for inspection by the

Classification society of the Vessel' s underwater parts below the deepest load line, the

extent of the inspection being in accordance with the Classification Society's rules. If the

rudder, propeller, bottom or other underwater parts below the deepest load line are found

broken, damaged or defective so as to effect the Vessel' s class, such defects shall be made

good by the Sellers at their expense to the satisfaction of the classification society

without condition/recommendation*. In such event the Sellers are to pay also for the cost of

the underwater inspection and the Classification Society's attendance.

 

(iii)      If the Vessel is to be drydocked pursuant to Clause 6 b) (ii) and no suitable dry-

docking facilities are available at the port of delivery, the Sellers shall take the Vessel

to a port where suitable drydocking facilities are available ,whether within or outside the

delivery range as per Clause 5 b). Once drydocking has taken place the Sellers shall deliver

the Vessel at a port within the delivery range as per clause 5 b) which shall, for the

purpose of this clause, become the new port of delivery. In such event the cancelling date

provided for in clause 5 b) shall be extended by the additional time required for the

dry-docking and extra steaming, but limited to a maximum of 14 running days.

 

If the vessel is drydocked pursuant to Clause 6 a) or 6 b) above

 

 

(i)      the Classification Society may require survey of the tailshaft system, the extent of

the survey being to the satisfaction of the Classification surveyor. If such survey is not

required by the Classification Society, the Buyers shall have the right to require the tailshaft

to be drawn and surveyed by Classification Society, the extent of the survey being in

accordance with the Classification Society's rules for tailshaft survey and consistent with

the current stage of the Vessel survey cycle. The Buyers shall declare whether they

require the tailshaft to be drawn and surveyed not later than by the completion of the

inspection of the Classification Society. The drawing and refitting of the tailshaft shall be

arranged by the Sellers.  Should any parts of the tailshaft system be condemned or found

defective so as to effect the Vessel' s class, those parts shall be renewed or made good at

the Sellers' expense to the satisfaction of the Classification Society without

condition/recommendation*.

	
87

 

88

89

90

91

92

93

94

95

 

96

97

98

99

100

101

102

103

104

105

106

 

107

108

109

110

111

112

113

114

 

115

 

 

116

117

118

119

120

121

122

123

124

125

126

127

	  	
 

(ii)      the expenses relating to the survey of the tailshaft system shall be borne

by the Buyers unless the Classification Society requires such survey to be carried out , in

which case the Sellers shall pay these expenses. The Sellers shall also pay the expenses

if the Buyers require the survey and parts of the system are condemned or found defective

	
 

128

129

130

131

 

  

  

  

 

	  	
or broken so as to effect the vessel' s class*.

 

(iii)       the expenses in connection with putting the Vessel in and taking her out

of drydock, including the drydock dues and the Classification Society' s fees shall be paid by

the Sellers if the Classification Society issues any condition/recommendation* as a result

of the survey or if it requires survey of the tailshaft system.  In all other cases the Buyers

shall pay the aforesaid expenses, dues and fees.

 

(iv)            the Buyers' representative shall have the right to be present in the drydock, but

without interfering with the work or decisions of the Classification surveyor.

 

(v)         the Buyers shall have the right to have the underwater parts of the Vessel

cleaned and painted at their risk and expense without interfering with the Sellers' or the

Classifications surveyor's work, if any, and without affecting the Vessel' s timely delivery. If,

however, the Buyers' work in drydock is still in progress when the Sellers have

completed the work which the Sellers are required to do, the additional docking time

needed to complete the Buyers' work shall be for the Buyers' risk and expense. In the event

 that the Buyers' work requires such additional time, the Sellers may upon completion of the 

Sellers' work tender Notice of Readiness for delivery whilst the Vessel is still in drydock

and the Buyers shall be obliged to take delivery in accordance with Clause 3 , whether

the vessel is in drydock or not and irrespective of Clause 5 b).

 

*            Notes, if any, in the surveyor's report which are accepted by the classification Society

without condition/recommendation are not to be taken into account.

 

**    6a)and 6 b) are alternatives; delete whichever is not applicable. In the absence of 

deletions,

alternative 6 a) to apply.

 

 

 

7.          Spares/bunkers, etc.

 

 as per shipbuilding contract dated 3 December 2012.

 

The Sellers shall deliver the Vessel to the Buyers with everything belonging to her on board 

and on shore. All spare parts and spare equipment including spare tail-end shaft(s) and/or spare 

propeller(s)/propeller blade(s), if any, belonging to the Vessel at the time of inspection used or

unused, whether on board or not shall become the Buyers' property, but spares on order are to 

be

 excluded. Forwarding charges, if any, shall be for the Buyers' account. The Sellers are not 

required to

replace spare parts including spare tail-end shaft(s) and spare propeller(s)/propeller blade(s) 

which

are taken out of spare and used as replacement prior to delivery, but the replaced items shall be 

the  property of the Buyers. The radio installation and navigational equipment shall be included 

in the sale

without extra payment if they are the property of the Sellers. Unused stores and provisions shall 

be

included in the sale and be taken over by the Buyers without extra payment.

 

The Sellers have the right to take ashore crockery, plates, cutlery, linen and other articles 

bearing                                                                                                                                          the

Seller's flag or name, provided they replace same with similar unmarked items. Library, forms, 

etc.,

exclusively for use in the Sellers' vessel(s),shall be excluded without compensation. Captain's

Officers' and Crew's personal belongings  including the slop chest are to be excluded from the 

sale,

as well as  the following additional items (including items on hire):

	
132

 

133

134

135

136

137

 

138

139

 

140

141

142

143

144

145

146

147

148

149

 

150

151

 

152

153

 

 

 

154

 

155

156

157

158

159

160

161

162

163

164

 

165

166

167

168

169

 

 

 

 

 

 

170

171

172

173

174

 

  

  

  

 

	  	
The Buyers shall take over the remaining bunkers and unused lubricating oils in storage tanks 

and

sealed drums and pay the current net marked price (excluding barging expenses) at the port and 

date

of delivery of the Vessel.

Payment under this Clause shall be made at the same time and place and in the same currency 

as

the Purchase Price.

	
 

 

 

 

	
 

	
8.            Documentation.

 

The place of closing : ULSAN KOREA or Vietnam or Athens

 

In exchange for payment of the Purchase Price the Sellers shall furnish the Buyers with delivery

documents, namely:

 

a) Legal Bill of Sale in a form recordable in the country in which the Buyers are

    to  register  the Vessel, warranting that the Vessel is free from all encumbrances,mortgages

   and  maritime liens or any other debts or claims whatsoever, duly notarially attested and

    legalized   by  the  consul of such country or other competent authority.

 

b) Current Certificate of Ownership issued by the competent authorities of the flag state of

      the Vessel.

 

c)   Confirmation of Class issued within 72 hours prior to delivery.

 

d)  Current Certificate issued by the competent authorities stating that the Vessel is free from

      register encumbrances.

 

e)  Certificate of deletion of the Vessel from the Vessel' s registry or other official evidence of

    deletion appropriate to the Vessel' s registry at the time of delivery, or, in the event that the

    registry  does not as a matter of practice issue such documentation immediately, a written

     undertaking by the Sellers to effect deletion from the Vessel' s registry forthwith and furnish 

a

     Certificate  or other official evidence of deletion to the Buyers promptly and latest within 4

      (four) weeks after the purchase Price has been paid and the Vessel has been delivered.

 

f)   Any such additional  documents as may reasonably be required by the competent authorities

     for the purpose of registering the Vessel provided the Buyers notify the Sellers of any such

    documents as soon as possible after the date of this Agreement.

 

At the time of delivery the Buyers and Sellers shall sign and deliver to each other a Protocol of

Delivery and Acceptance confirming the date and time of delivery of the Vessel from the 

Sellers to the Buyers.

 

At the time of delivery the Sellers shall hand to the Buyers the classification certificate(s) as 

well as all plans etc., which are on board the Vessel. Other certificates which are on board the 

Vessel shall alsobe handed over to the Buyers unless the Sellers are required to retain same, in 

which casethe Buyers to have the right to take copies. Other technical documentation which 

may

be in the Sellers' possession shall be promptly forwarded to the Buyers at Buyers expense, if 

they so request. The Sellers may keep the Vessel' s log books but the Buyers to have the right to 

take

copies of same.

 

 

 

9.    Encumbrances

 

The Sellers warrant that the Vessel, at the time of delivery, is free from all charters, 

	
175

 

176

 

177

178

 

179

180

181

182

 

183

184

 

185

 

186

187

 

188

189

190

191

192

193

 

194

195

196

 

197

198

199

 

200

201

202

203

204

205

206

 

 

 

207

 

208

209

210

211

 

  

  

  

 

	 	

encumbrances,

mortgages and maritime liens or any other debts whatsoever. The Sellers hereby undertake

to indemnify the Buyers against all consequences of claims made against the Vessel which have

been incurred prior to the time of delivery.

 

10.   Taxes,etc.

 

Any taxes, fees and expenses in connection with the purchase and registration under the Buyers' 

flag

shall be for the Buyers account, where as similar charges in connection with the closing of the 

Sellers'

register shall be for the Sellers' account.

	

 

 

 

212

 

213

214

215

 

	
 

	
11.   Condition on delivery

 

The Vessel with everything belonging to her shall be at the Sellers' risk and expense until she is

delivered to the Buyers, but subject to the terms and conditions of this Agreements she shall be

delivered and taken over as she was at the time of inspection, fair wear and tear excepted.

However, the Vessel shall be delivered with her class maintained without 

condition/recommendation*,

free of average damage affecting the Vessel's class, and with her classification certificates and

national certificates, as well as all other certificates the Vessel had at the time of inspection, 

valid                                                                                                                                                  and

unextended without condition/recommendation* by Class or relevant authorities at the time of

delivery.

"Inspection" in this Clause 11, shall mean the Buyers' inspection according to Clause 4 a) or 4 

b),                                                                                                                                                         if

applicable, or the buyers inspection prior to the signing of this Agreement . If the Vessel is 

taken                                                                                                                                              over

without inspection, the date of this Agreement shall be the relevant date.

 

*    Notes, if any, in the surveyor' s reports which are accepted by the Classification Society

       without condition/recommendation are not to be taken into account.

 

 

 

12.   Name/markings

 

Upon delivery the Buyers undertake to change the name of the Vessel and alter funnel 

markings.

 

 

 

13.   Buyers' default

 

Should the deposit not be paid in accordance with Clause 2, the Sellers have the right to cancel 

this

Agreement, and they shall be entitled to claim compensation for their losses and for all 

expenses

incurred together with interest.

Should the Purchase Price not be paid in accordance with Clause 3, the Sellers have the right to

cancel the Agreement, in which case the deposit together with interest earned shall be released 

to                                                                                                                                                       the

Sellers. If the deposit does not cover their loss , the Sellers shall be entitled to claim further

compensation for their losses and for all expenses incurred together with interest.

 

 

 

14.   Sellers' default

	
216

 

217

218

219

220

221

222

223

224

225

226

227

 

228

229

 

 

 

230

 

231

 

 

 

232

 

233

234

235

236

237

238

239

 

 

 

240

 

241

242

243

244

245

246

247

248

 

  

  

  

 

	
 

	
Should the Sellers fail to give Notice of Readiness in accordance with Clause 5 a) or fail to be 

ready

to validly complete a legal transfer by the date stipulated in line 63 the Buyers shall have

the option of cancelling this Agreement provided always that the Sellers shall be granted a

maximum of 3 banking days after Notice of Readiness has been given to make arrangements

for the documentation set out in Clause 8. If after Notice of Readiness has been given but 

before

the Buyers have taken delivery, the Vessel ceases to be physically ready for delivery and is not

made physically ready again in every respect by the date stipulated in line 63 and new Notice of

Readiness given, the Buyers shall retain their option to cancel. In the event that the Buyers elect

to cancel this Agreement the deposit together with interest earned shall be released to them

immediately.

Should the Sellers fail to give Notice of Readiness by the date stipulated in line 63 or fail to be 

ready

to validly complete a legal transfer as aforesaid they shall make due compensation to the 

Buyers                                                                                                                                for

their loss and for all expenses together with interest if their failure is due to proven

negligence and whether or not the Buyers cancel this Agreement.

 

 

 

15.  Buyers' representatives

 

 

After this Agreement has been signed by both parties and the deposit has been lodged, the 

Buyers

have the right to place two representatives on board the Vessel at their sole risk and expense 

upon

arrival at on or about

These representatives are on board for the purpose of familiarisation and in the capacity of

observers only, and they shall not interfere in any respect with the operation of the Vessel. The

Buyers' representatives shall sign the Sellers' letter of indemnity  prior to their embarkation.

	
249

250

251

252

253

254

 

 

 

255

 

 

256

257

258

259

260

261

 

	
16.

 

a)*

 

 

 

 

 

 

 

 

 

b)*

 

 

 

 

 

 

 

 

c)*

 

 

 

*

	
Arbitration

 

This Agreement shall be governed by and construed in accordance with English law and

any dispute arising out of this Agreement shall be referred to arbitration in London in

accordance with the Arbitration Acts 1950 and 1979 or any statutory modification or

re-enactment thereof for the time being in force, one arbitrator being appointed by each

party. On the receipt by one party of the nomination in writing of the other party' s arbitrator, 

that party shall appoint their arbitrator within fourteen days, failing which the decision of the 

single arbitrator appointed shall apply. If two arbitrators properly appointed shall not agree they 

shall appoint an umpire whose decision shall be final.

.

 

This Agreement shall be governed by and construed in accordance with Title 9 of the

United Stage Code and the  Law of the State of New York and should any dispute arise out of

this Agreement, the matter in dispute shall be referred to three persons at New York, one to

be appointed by each of the parties hereto, and the third by the two so chosen; their

decision or that of any two of them shall be final, and for purpose of enforcing any award, this

Agreement may be made a rule of the Court.

The proceedings shall be conducted in accordance with the rules of the Society of Maritime

Arbitrators Inc. New York.

 

Any dispute arising out of this Agreement shall be referred to arbitration at

                                                                      , subject to the procedures applicable there.

 The laws of                                                  shall govern this Agreement.

 

16a),16b)and 16c) are alternatives; delete whichever is not applicable. In the absence of 

deletions, alternative 16 a) to apply.

	
262

 

263

264

265

266

267

268

269

270

 

 

271

272

273

274

275

276

277

278

 

279

280

281

 

282

283

  

  

  

 

	
 

	
Clause 17

 

 

THE PRICE, TERMS AND CONDITIONS OF THE SALE TO BE KEPT STRICTLY  

PRIVATE AND CONFIDENTIAL BY ALL PARTIES CONCERNED. HOWEVER, THE 

BUYER BEING PUBLICLY LISTED COMPANY HAS THE RIGHT TO ANNOUNCE THE 

PURCHASE TO THE MARKET.  SHOULD THE  DETAILS OF THE SALE BECOME 

KNOWN OR REPORTED IN THE MARKET, NEITHER THE BUYERS  NOR THE 

SELLERS SHALL HAVE THE RIGHT TO CANCEL THIS CONTRACT.

 

Clause 18

As the Vessel is currently under construction the Buyer agrees to purchase the Vessel on a  

back to back basis and in accordance with the provisions of the Shipbuilding contract 

dated 3 December 2012 which he has seen and approved.                        

	
 

 

	 	FOR THE SELLERS	 	FOR THE BUYERS	 
	 	 	 	 	 
	 	/s/ Stylianos Giamanis	 	/s/ Evangelos Ikonomou	 
	 	Stylianos Giamanis	 	Evangelos Ikonomou	 
	 	 	 	Director	 
	 	 	 	 	 
	 	..............................................  	 	..................................................	 

 

 

Copyright: Norwegian Shipbrokers' Assocation, Oslo, Norway. 

Printed and sold by S-Gruppen A/S, Halvorsen & Larsen, Oslo, Norway.

Fax: 47-22-25 28 69.  Phone: 47-22-25 81 90

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00226-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00226-of-00352.parquet"}]]