Page:United States Statutes at Large Volume 61 Part 4.djvu/599

 61 STAT.] MULTILATERAL-MUTUAL AID SETTLEMENT-MAY 28, 1947 3947 AGREEMENT BETWEEN THE GOVERNMENT OF THE UNITED STATES OF AMERICA AND THE GOVERNMENT OF THE NETHERLANDS INDIES REGARDING A LINE OF CREDIT FOR THE PURCHASE OF UNITED STATES SUR- PLUS PROPERTY 1. General Terms A. The United States Government and the Netherlands Indies Government agree that their rights and obligations in connection with the line of credit for the purchase of surplus property heretofore granted by the United States Government to the Netherlands Indies Government in the amount of $100,000,000 shall be as stated in this Agreement. The agreement of July 11, 1946 between the two Gov- ernments, establishing such line of credit, is superseded by this Agree- ment. B. The amount of the line of credit is $100,000,000. C. The terms of payment of the amount due under the line of credit shall be as stated in paragraph 2 of this Agreement. This change from the original terms of payment has been consented to by the United States Government as part of the general settlement of lend-lease and other war accounts signed concurrently herewith by the United States Government and the Government of the Kingdom of the Netherlands. D. The line of credit is for use in purchasing prior to January 1, 1948 United States surplus property, wherever situated, made avail- able by the Office of the Foreign Liquidation Commissioner. E. Charges heretofore made against the line of credit shall con- tinue to be charges against it as from the respective dates of the charges, but no interest will be payable for the period before July 1, 1946 and interest will accrue thereafter as provided in sub-paragraph 2B of this Agreement. F. Procedural arrangements heretofore made in connection with the line of credit shall continue in force until changed. 2. Terms of Payment A. The amount due under the line of credit will be paid by the Netherlands Indies Government to the United States Government 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 amount due as of July 1, 1951. Each subsequent instalment shall be equal to so much of the amount due (as of the date of the instalment) as has not previously become pay- able, divided by the number of instalments that have not previously become payable.

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