Transfer contract for competition rights.
Today, 31.08.2009 (thirty-first of August two thousand and nine) between:
PSFC "Chernomorets Burgas" AD, UIC 102929385, registered in the Commercial Register to the Registry Agency registered with decision № PD 2156/2005 , the inventory of the District Court of Burgas, with registered office at: 8000, Burgas, Lazur, sports complex Lazur, Procurator Mr. Plamen Kirilov Kiryakov, UCN 6904020647, on the one hand as the Transferor And
PFC "CSKA" AD, UIC 130212106, with headquarters in the city of Sofia, Dragan Tsankov Blvd № 3, represented together by members of the Management Board VENTSISLAV ZHIVKOV Hristov, UCN xxxxxxxxxxx and PENKO VLADIMIROV PENKOV, UCN xxxxxxxxx, on the other hand as acquirer, the parties hereby agree as follows: I. SUBJECT OF THE CONTRACT
1 Subject of this contract is the transfer of the racing rights of professional football player Mr. Michel Platini Ferreira Meskuita, born 08/09/1983 , a citizen of Brazil, hereinafter reffered as the Footballer. 2. The transferor, as a sole and absolute owner of the transfer and competition rights of the footballer, transfer them indefinitely in favor of the transferee, against the obligation of the transferee to pay a transfer price in the manner and within the time limits agreed with the provisions of this contract, II. PRICE
3. Purchase price for ownership transfer and competition rights of footballer is € 510,000 (five hundred and ten thousand euros), without VAT included in the price. 3.1 The transferor issues tax invoice within 5 days of signing the contract. The transferee shall pay transfer price by bank transfer to the bank account of the transferor in Investbank AD. IBAN BGxxxxxxxxxxxxxxx
BIC IORT BGSF
The transferee shall pay the transfer price as follows;
5.1. value added tax due, according to the current Bulgarian legislation - upon signing of this contract 5.2. sum of € 170,000 / one hundred and seventy thousand euros / - within a period of 30.06.2010 5.3. sum of € 170,000 / one hundred and seventy thousand euros / - within a period of 30.06.2011 5.4. sum of € 170,000 / one hundred and seventy thousand euros / - within a period of 30.06.2012 Payment date is the date on which the amount is credited to the account of the transferor. 6.1. In case of change of the bank accounts of the transferor, he shall give written notice to the transferee for the accounts, on which should be translated due under this contract amounts. 7. Upon default in payment of any amounts under point 5.1. - 5.4 of the contract, the transferee shall pay a penalty of 0.5% per day on the amount due from the date of the default until full payment of the obligation. If the delay lasts more than 30 days, with the fact of the delay becomes prematurely required entire unpaid portion of the transfer price of the contract under point 3, together with the due penalty for delay stipulated in the preceding paragraph for which the transferor dont need to notice the transferee. To secure payment of amounts due, under point 5.2 - 5.4 of the contract, the transferee shall issue in favor of the transferor 3 pieces/number promissory notes, each for an amount of € 170,000 and maturities as follows: 30.06.2010 , 30.06.2011 , 30.06.2012 III. OBLIGATIONS OF THE PARTIES
8. Transferee undertakes to pigeonhole football player to participate in the representative team of PFC "CSKA" AD. Transferor shall provide the transferee all the necessary documents for filing the player to participate in the representative team of PFC "CSKA" AD, as required by the Bulgarian Football Union. 9. Transferor shall declare to the Bulgarian Football Union in connection with filing the player in favor of the representative team to the transferee that no claims arising from breach of contractual obligations of the football player, and that there aren't any other obstacles that could hinder the filing. IV. ADDITIONAL FINANCIAL CONDITIONS
10. Upon transfer...
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