PT. Bank Central Asia, Tbk Investment Credit Facility 6
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Investment Credit Facility 7 Deed of Credit Agreement No. 98 dated 10 December 2010 and any amendments thereof, which
approved the financing of 2 unit tankers with a total value of USD 4,200,000.00 for a period of 60 sixty months commencing on the first withdrawal, that is subject to an annual interest rate of
11.25 per annum. Revolving Time Loan Credit Facility
Deed of Credit Agreement No. 5 dated 1 August 2008 and any amendments thereof, which approved the grant of Working Capital Credit with a total value of Rp 5,000,000,000.00 for a period
from 4 June 2014 – 10 December 2014 that is subject to an annual interest rate of 11.25 - 12.25 per annum.
These facilities are secured by, among others, the following: - Collateral in the form of 6 unit tankers, i.e. Soechi Chemical VII Ship, Soechi Chemical XXI Ship,
Alina XXIII Ship and Alice XXV Ship and Success Victory XXXIV Ship -
Personal Guarantee from Paulus Utomo and Go Darmadi -
Collateral in the form of 4 parcels of land.
Installment Loan Facility
Deed of Credit Agreement No. 71 dated 31 October 2013, which approved the refinancing of shareholders or affiliated company loan, which will be used as an equity portion in the financing of
investment in additional ships for PT Sukses Osean Khatulistiwa Line, with a total value of Rp 66,500,00,000.00 for a period of 4 four years commencing on the date of withdrawal, that is
subject to an annual interest rate of 12.25 per annum, secured by 1 parcel of land.
Material Agreements between IEl and Other Parties Agreements with Unaffiliated Parties
IEL has executed 9 nine agreements with unaffiliated parties in order to support its business activities. The agreements are described below:
1. Time Charter Agreement dated 8 June 2010, amended by Amendment No. 1 to the time charter
party LPGC Gas Soechi XXVIII dated 15 May 2013, privately arranged and duly stamped, entered into by and between PT Inti Energi Line as the Ship Owner and PT Pertamina Persero as the
Charterer, which stipulates the following terms and condition:
Objective of the Agreement :
That the Ship Owner charters its ship to the Charterer Basis of the Agreement
: The Ship Owner charters to and the Charterer charters
from, the use and services of the ship for a certain period of time based on the terms and conditions set forth in this
agreement, including introduction Part I, Part II, Part III and the appendices herein.
Charter Period : 3 three years commencing on the ship handover, with an
option to extend for 1 one year and an option for an additional period of 1 one year.
2. Time Charter Agreement dated 13 March 2012, amended by Amendment No. 1 to the Time
Charter Party MT.Soechi Chemical IX dated 25 June 2013, privately arranged by and between PT Inti Energi Line as the Ship Owner and PT Pertamina Persero as the Charterer, which stipulates
the following terms and conditions:
Objective of the Agreement :
That the Ship Owner charters its ship to the Charterer Basis of Agreement
: The Ship Owner charters to and the Charterer charters
from, the use and services of the ship for a certain period of time based on the terms and conditions set forth in this
agreement, including introduction Part I, Part II, Part III and the appendices herein.
Charter Period :
3 three years commencing on the ship handover, with an option to extend for 1 one month and an option for an
additional period of 1 one month.
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3. Time Charter Agreement dated 14 July 2012, privately arranged by and between PT Inti Energi
Line as the Ship Owner and PT Pertamina Persero as the Charterer, which stipulates the following terms and conditions:
Objective of the Agreement :
That the Ship Owner charters its ship to the Charterer Basis of Agreement
: The Ship Owner charters to and the Charterer charters
from, the use and services of the ship for a certain period of time based on the terms and conditions set forth in this
agreement, including introduction Part I, Part II, Part III and the appendices herein.
Charter Period :
1 one year commencing on the ship handover, with an option to extend for 6 six months and an option for an
additional period of 6 six months.
4. Time Charter Period dated 4 February 2010, privately arranged by and between PT Inti Energi Line
as the Ship Owner and PT Pertamina Persero as the Charterer, which stipulates the following terms and conditions:
Objective of the Agreement :
That the Ship Owner charters its ship to the Charterer Basis of the Agreement
: The Ship Owner charters to and the Charterer charters
from, the use and services of the ship for a certain period of time based on the terms and conditions set forth in this
agreement, including introduction Part I, Part II, Part III and the appendices herein.
Charter Period : 5 five years commencing on the ship handover, with an
option to extend for 1 one year and an option for an additional period of 1 one year.
5. Time Charter Agreement dated 12 February 2014, privately arrange by and between PT Inti Energi
Line as the Ship Owner and PT Pertamina Persero as the Charterer, which stipulates the following terms and conditions:
Objective of the Agreement :
That the Ship Owner charters its ship to the Charterer Basis of Agreement
: The Ship Owner charters to and the Charterer charters
from, the use and services of the ship for a certain period of time based on the terms and conditions set forth in this
agreement, including introduction Part I, Part II, Part III and the appendices herein.
Charter Period :
3 three years commencing on the ship handover, with an option to extend for 1 one month and an option for an
additional period of 1 one month.
6. Time Charter Agreement dated 6 September 2013, privately arranged by and between PT Inti
Energi Line as the Ship Owner and PT Pertamina Persero as the Charterer, which stipulates the following terms and conditions:
Objective of the Agreement :
That the Ship Owner charters its ship to the Charterer Basis of Agreement
: The Ship Owner charters to and the Charterer charters
from, the use and services of the ship for a certain period of time based on the terms and conditions set forth in this
agreement.
Charter Period :
1 one year commencing on the ship handover, with an option to extend for 6 six months and an option for an
additional period of 6 six months.
7. Management Service Agreement No. 025IELLGLXII2011 dated 28 September 2012, as last
amended by Amendment III of Management Service Agreement No. 025IELLGLXII2011 dated 25 May 2013, privately arranged and duly stamped, between the Issuer as the Service
ProviderFirst Party and PT Inti Energi Line IEL as the Service UserSecond Party, with the following details:
Object of the Agreement
: That the First Party agrees to provide services in the form of
management services, monitoring services and operational services or other services to facilitate the operational
management of the Second Party, and the Second Party
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103 agrees to receive management services, monitoring
services and operational services from the First Party.
Period :
5 five years and shall be extendable upon mutual agreement;
Management Service Fee :
USD4,000.00 four thousand United States Dollars per month;
Settlement of Disputes :
In the event of disputes or conflicts arising from this agreement, the Parties agree to settle such
disputesconflicts amicably. In the event that amicable settlement cannot be reached, the Parties agree to settle
the disputesconflicts through the District Court of Central Jakarta.
8. Lend-Use Agreement dated 27 September 2012, privately arranged and duly stamped by and
between Go Darmadi as the LenderFirst Party and IEL as the BorrowerSencon Party, which stipulates the following provisions:
Object of the Agreement :
That the First Party agrees to lend one of the room in the shophouse unit with total building and land area of 604m2
six hundred and four square meters located on Jalan Mangga Dua Blok J No. 5-6, South Mangga Dua Village,
Sawah Besar, Central Jakarta, South Jakarta equipped with the following facilities: water, phone line and electricity to
the Second Party
Period :
2 two years commencing on 1 January 2013 up to 31 December 2014.
Settlement of Disputes :
In the event of disputes or conflicts arising from this agremeent, the Parties agree to settle such
disputesconflicts amicably. In the event that amicable settlement cannot be reached, the Parties agree to settle
the disputesconflicts through the District Court of Central Jakarta.
Based on Legal Due Diligence undertaken by us and based on the Representation Letter of the Board of Directors of IEL dated 10 October 2014 with regard to the Lend-Use Agreement dated 27
December 2012, privately arranged and duly stamped, by and between Go Darmadi and IEL, no charges shall apply.
9. Charter Agreement No. 29GKILGLX2014 dated 1 October 2014, privately arranged and duy
stamped, by and between PT Global Karya Indonesia GKI as the Owner and IEL as the Charterer, which stipulates the following provisions:
Object of the Agreement :
That GKI agrees to rent a motorsteamturbin tanker named MT Fortune Glory Ship to IEL;
Period :
3 three years commencing on the signing of the agreement, namely from 1 October 2014 up to 1 October
2017; Charter Fee
: USD 9,000 nine thousand United States Dollars per day;
Settlement of Disputes :
In the event of disputes or conflicts arising from this agreement, the Parties agree to settle the disputesconflicts
through the District Court of Central Jakarta and in accordance with the Indonesian Law.