CapitalConstructionFundAgreement基本建设投资合同5doc.docx

CapitalConstructionFundAgreement基本建设投资合同5doc.docx

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CapitalConstructionFundAgreement基本建设投资合同5doc

CapitalConstructionFundAgreement基本建设投资合同-

1.DDDisengageddirectly,andthroughsubsidiaryandaffiliatedcorporations（collectivelysuchsubsidiaryandaffiliatedcorporationsbeingreferredtohereinasAffiliates）,inthebusinessesofbuildingshipsfortheU.S.Governmentandprivatelyandpubliclyheldcorporations.

2.ThemoniesearnedfromtheseactivitiesarereceivedbyDDD,and/oritsAffiliates,undervariousformsofcontractsforthemostpartinvolvingprogresspayments,dependentuponthestateofcompletionoftheprojects,theproceedsofwhicharegenerallysubjecttoassignment.

3.DDDmaintainsaconsolidatedcapitalconstructionfund（theFund）withinthemeaningofSection607oftheMerchantMarineAct,1936,asamended（theAct）pursuanttothetermsofanoriginalagreementbetweenNASSCOandtheMaritimeAdministration,DepartmentofTransportation,datedasofSeptember14,1988,asamended（theAgreement）,anddesirestoinvestandreinvestcertainmoniesortheproceedsofpropertydepositedandtobedeposited,fromtimetotime,intotheFundinanundividedinterestinEligibleReceivablesheldbyDDDoranyQualifiedAffiliate,assuchtermsaredefinedbelow.

4.（DDDorQualifiedAffiliate）proposestosellandDDDproposestopurchase,fortheaccountoftheFund,anundividedinterestinEligibleReceivablesarisingfromtimetotimeandheldby（DDDorQualifiedAffiliate）.

NOWTHEREFORE,inconsiderationofthepremisesandthemutualpromises,andsubjecttothetermsandconditionshereinaftersetforth,itisherebyagreed:

1.ELIGIBLERECEIVABLES.Subjecttothelimitationsofparagraph2（investment,share,percentage）,DDDmaypurchasefromtimetotimefromanyitselforanyQualifiedAffiliatefortheaccountoftheFundanundividedinterestinEligibleReceivables.AnEligibleReceivableshallbeanevidenceofindebtednessoftheUnitedStatesofAmerica,oranyinstrumentalityoragencythereof,orofanypartyorganizedunderthelawsoftheUnitedStatesorastatethereof,unrelatedtoDDDoranyofitsAffiliates,payableinUnitedStatesdollarsandacquiredbyDDDoranyQualifiedAffiliateintheordinarycourseofbusiness.Notwithstandingtheforegoing,anAffiliateshallqualifytosellevidencesofindebtednesstoDDDfortheaccountoftheFundunderthisAgreement（QualifiedAffiliate）onlyupondeliveryofawritteninstrumentagreeingto（i）authorizeDDDtoactonitsbehalfwhereappropriateorrequiredhereunder,（ii）performanyoftheactsthatDDDhasagreedhereundertocausesuchAffiliatetoperform,and（iii）otherwiseboundbythetermsofthisAgreement.

2.INVESTMENT,SHAREANDPERCENTAGE.ThecumulativedollaramountpaidorconsiderationgivenbyDDDhereunderforthepurchaseofanundividedinterestinEligibleReceivablesfromDDD（DDDReceivables）orfromanyQualifiedAffiliate（AffiliateReceivables）less,ineachcase,-theproceedsreceivedbytheFunduponanysaleofsuchundividedinterestasdescribedinparagraph13（REPURCHASE）ishereinafterreferredtoasDDDInvestmentorAffiliateInvestment,respectively,（collectivelyInvestment）.TheFund’sundividedinterest,expressedasadollaramount,inDDDReceivablesorAffiliateReceivablesishereinafterreferredtoindividuallyasDDDShareorAffiliateShare,respectively（collectivelyshare）,andineachcaseshallatanytimebeequaltoDDDInvestmentorAffiliateInvestment,asthecasemaybe,multipliedbythesumofoneplustheDiscountFactor（asdefinedbelow）applicablethereto.TheFund’sundividedinterest,expressedasapercentage,inDDDReceivablesorAffiliateReceivables,ishereinafterreferredtoasDDDPercentageorAffiliatePercentage,respectively,andineachcaseshallatanytimebeequaltoDDDShareoranAffiliateShare,asthecasemaybe,dividedbythefacevalueofDDDReceivablesortheapplicableAffiliateReceivables,respectively.

3.ELECTIONANDASSIGNMENT.IfDDDelectstopurchaseEligibleReceivablesinitiallyorfromtimetotime,onbehalfoftheFund,itshallexecuteanddeliveraninstrumentofelection（Election）intheformsetforthinExhibitAtoDDDortheapplicableQualifiedAffiliate,asthecasemaybe,notlessthantwobusinessdayspriortotherequestedeffectivedatethereof.PursuanttotheElection,DDDwillsell,transfer,andassigntoNASSCO,inthecaseofDDDReceivables,andwillcausetheapplicableQualifiedAffiliatetosell,transferandassigntoDDD,inthecaseofAffiliateReceivables,ineachcaseonbehalfoftheFund,anundividedinterestinsuchEligibleReceivables.Thesale,transferandassignmentshallbeevidencedbyexecutionofaninstrumentofassignment（Assignment）intheformsetforthinExhibitB.AcopyofeachAssignmentshallbedeliveredtotheFunddepositoryasevidenceoftheFund’sinvestmentinaccordancewithSection607（c）oftheMerchantMarineAct,1936,asamended.TheinitialoranychangeinthelevelofeitherDDDInvestmentorAffiliateInvestment,respectively,shallbedistinguishedfromtheperiodicreinvestmentofanyDDDShareorAffiliateShareasdescribedinparagraph9（ONGOINGREINVESTMENT）,whichshallrequirenoElectionorAssignment

4.TITLE.FromthetimeofDDD’initialpurchaseofSharethroughanyadjustmentinsuchSharefromtimetotime,suchShareshallbeandbecometheexclusivepropertyoftheFund.

5.AGENCY.

（a）PossessionandRecords.WithrespecttoallEligibleReceivablesinwhichtheFundownsanundividedinterestfromtimetotime,DDDshall,inthecaseofGeneralDynamics-Receivables,andshallcausetheapplicableQualifiedAffiliate,inthecaseofAffiliateReceivables,ineachactingasagentonbehalfofDDDandtheFund,tomaintainphysicalpossessionoftheEligibleReceivablesandallrecordspertainingthereto,whichrecordsshallindicateinwritingthattheFundhasanundividedinterestintheEligibleReceivablesandshallbesufficienttodistinguishtheFund’sinterestthereinfromDDD’sorsuchQualifiedAffiliate’sremaininginterest.

（b）Collection.Subjecttotheexerciseofreasonablebusinessjudgment,DDDshall,inthecaseofDDDReceivables,andshallcausetheapplicableQualifiedAffiliate,inthecaseofAffiliateReceivables,tousereasonableeffortstoprocessandcollectEligibleReceivablesinthesamemannerandwiththesamediligenceasitorsuchQualifiedAffiliateprocessesandcollectsitsotherreceivables.InadditionGeneralDynamicsshallinitsownname,inthecaseofDDDReceivables,andshallcausetheapplicableQualifiedAffiliate,inthecaseofAffiliateReceivables,to（i）endeavortocollect,orcausetobecollected,fromitscustomersorthoseoftheapplicableQualifiedAffiliateasandwhendueanyandallamountsowingunderoronaccountofEligibleReceivables,and（ii）take,orcausetobetaken,suchactiontoenforcerightsunderanysuchEligibleReceivablesasitorsuchQualifiedAffiliatedeemsreasonablyproper.

（c）CollectionAgencies:

CompliancewithLaw.DDDoranyQualifiedAffiliatemayemploycollectionagenciesorotherstocollectdefaultedEligibleReceivables.InactingwithrespecttoEligibleReceivables,DDDwillandwillcauseeachQualifiedAffiliatetocomplywithalllaws,officialrulingsandregulationsandwillindemnifyandholdtheFundharmlessfromandagainstanyandallpenaltiesorlosseswhichmightbeincurredbytheFundastheresultofDDD’soranyQualifiedAffiliate’snegligenceorfailuretocomplytherewith.

（d）EnforcementbytheFund.TheFundwilltakeanyactiontocollectEligibleReceivablesortootherwiseenforcetheFund’slegalinteresttherein,unlessDDDhasmadeadeterminationnottoorisunableto,ordoesnotcausetheapplicableQualifiedAffiliatetoorsuchQualifiedAffiliateisunabletoproceedforcollectionanddoesnototherwiseholdtheFundharmlessthroughtheoperationofparagraph12（UNCOLLECTIBLERECEIVABLES）.InnoeventshalltheFundtakeanyactiontocollectanyEligibleReceivablesoftheUnitedStatesofAmericaoranyagencyorinstrumentalitythereofwhichhavenotbeenassignedinaccordancewiththeAssignmentofClaimsAct

（e）ServicingCosts.DDDwillreimburseeachQualifiedAffiliate,asappropriate,onamonthlybasis,butnotfromtheFund,fortheperformanceofservicesrequiredbythisparagraphinanamountequaltotheactualcostsincurredinconnectionwithsuchservicesasdeterminedfromtimetotime（i）fortheDDDReceivablesbymultiplyingsuchcostsbytheDDDPercentageoftheDDDReceivablesownedbytheFund,and（ii）foreachAffiliate’sReceivablesbymultiplyingsuchcostsbysuchAffiliate’sPercentageofsuchAffiliateReceivablesownedbytheFund.DDDshall,inthecaseofGeneralDynamicsReceivables,andshallcausetheapplicableQualifiedAffiliate,inthecaseofAffiliateReceivables,tokeeprecordsreasonablyrequiredtoallowNASSCOtoverifyanyamountschargedhereunder.

（f）PowerofAttorney.DDD,onbehalfofitselfandtheFund,herebygrantstoeachQualifiedAffiliate,asappropriate,anexclusivepowerofattorneytoprocessandcollecttheinterestoftheFundinEligibleReceivables,whichshallberevocableonlyifsuchQualifiedAffiliateisunabletoproceedforcollectionanddoesnototherwiseholdtheFundharmlessthroughtheoperationofparagraph12（UNCOLLECTIBLERECEIVABLES）.

6.Audit.DDDshall,inthecaseofDDDReceivables,andshallcausetheapplicableQualifiedAffiliate,inthecaseofAffiliateReceivables,to（a）maintainsuchdocumentsinaccordancewithitsregularpracticeasmayberequiredforthecollectionofEligibleReceivables;（b）maintainsuchaccountsando