Page:United States Statutes at Large Volume 62 Part 2.djvu/557

 62 STAT.] UNITED KINGDOM-LEND -LEASE SETTLEMENT-JAN. 7, 1948 of the contract of sale, whether sold for use in those countries or for export. 3. Since it is agreed that in any other Middle East territories there will be no significant sales in respect of which the Government of the United States would be entitled to receive a share of proceeds, the Government of the United States as from 15th July, 1947, waives all claims in respect of the Lend-Lease element in any surplus stores, situated outside Egypt and Iraq, which may remain to be sold, with the exceptions set forth in paragraph 7 below. 4. The Government of the United States shall raise no claim in respect of surplus stores in Egypt and Iraq sold by the British au- thorities after 30th June, 1948. 5. As from the date of this Agreement, the Government of the United States waives the right of repossession for sale on its own account afforded to it under the terms of paragraph 7 of Agreement IV. Repossessions initiated but remaining uncompleted by the date of this Agreement may, however, be completed. The Government of the United States will retain the right to recapture Lend-Lease articles as provided for in paragraph 2 of Agreement IV. 6. The provisions of this Agreement shall apply to the proceeds of sale of:- (a) (b) surplus scrap and salvage; surplus tyres and tubes (thus superseding the existing arrange- ment whereby proceeds of sale of certain tyres and tubes are divided equally between the two Governments). 7. The provisions of this Agreement shall not apply to:- (a) the proceeds of sale of surplus stores sold before 15th July, 1947. Sales made under contracts entered into before 15th July, 1947, shall be regarded as having been effected before that date even though payment be made by the buyer, or the stores be delivered to the buyer, after that date; the proceeds shall be paid to the Government of the United States in accordance with existing arrangements; (b) the proceeds of sales of surpluses sold by the Government of the United States on its own account; these shall accrue to the Government of the United States in accordance with existing arrangements; (c) the transfer of stores to the Ministry of Food for use in con- nection' with the East African ground nut scheme; (d) the disposal of stores to third governments for military end- use; these sales shall continue to be governed by paragraph 6 of Agreement IV. (e) stores in Eritrea technically repossessed by the Office of the Foreign Liquidation Commissioner of the Department of State prior to 15th July, 1947, but sold by the British authorities after that date by special arrangement, the proceeds of which, net of 68706-51- -PT. II -- - 35 1837 U. S. waiver of des- ignated claims, etc. 60 Stat. 1540. 60 Stat. 1539. Applicability ofpro- visions. Nonapplicability of provisions. 60 Stat. 1540.

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