Page:United States Statutes at Large Volume 61 Part 4.djvu/582

 INTERNATIONAL AGREEMENTS OTHER THAN TREATIES [61 STAT. C. The $30,000,000 line of credit is for use in purchasing prior to January 1, 1948 United States surplus property, wherever situ- ated, made available by the Office of the Foreign Liquidation Commissioner. D. Charges heretofore made against the $30,000,000 line of credit shall continue to be charges against it as from the respective dates of the charges, but, with respect to the accrual of interest, shall be subject to the provisions of sub-paragraph 6C of this Agreement. The bulk sales of surplus property in the Territories of Curasao and Surinam shall be charges against the $30,000,000 line of credit. E. Procedural arrangements heretofore made in connection with the $30,000,000 line of credit shall continue in force until changed. 6. Terms of Payment A. The Netherlands Government undertakes that, as and when the amounts payable by the United States Government under sub- Anip. ats. paragraph 3A of this Agreement are paid, it will pay equivalent amounts in dollars to the United States Government up to a total of $19,500,000, in partial payment of the total principal amount due from it to the United States Government. B. The remainder of the total principal amount due from the Netherlands Government to the United States Government will be paid by the Netherlands Government to the United States Govern- ment in dollars in thirty annual instalments, which shall become payable on July 1 of each year beginning July 1, 1951. The first instalment shall be equal to one-thirtieth of the unpaid portion as of July 1, 1951 of the total principal amount. Each subsequent instalment shall be equal to so much of the unpaid portion (as of the date of the instalment) of the total principal amount as has not previously become payable, divided by the number of instal- ments that have not previously become payable. C. Interest will be paid to the United States Government by the Netherlands Government in dollars at the fixed rate of two percent per annum on $50,000,000 (which is agreed to be the net sum of such of the charges constituting the total principal amount as are attributable to the period before July 1, 1946) for the period from July 1, 1946 through June 30, 1947, and, accruing from July 1, 1947, on the unpaid remainder of the total principal amount. With respect, however, to charges made under the $30,000,000 line of credit, interest shall accrue from the first day of July next fol- lowing the date on which each charge is made. With respect to the amount of any reduction in the total principal amount under the terms of sub-paragraph 6D and paragraph 7 of this Agreement in- terest for the period from the preceding July 1 shall be charged only to the date of such reduction. Interest shall be payable annually on July 1 of each year beginning July 1,1947. 3930

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