Set off Agreement

SET-OFF AGREEMENT № 1

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Повне найменування (Eng.)   EDRPOU codeКод ЄДРПОУ  registered at Адреса місцезнаходження (юридична адреса) (Eng.) , represented by Посада представника (Eng.)  ПІБ в род. відмінку (Eng.)   acting underПідстава діяльності представника (Eng.) (hereinafter – the "Party 1"), on the one hand, and

Повне найменування (Eng.)   EDRPOU code Код ЄДРПОУ  registered at Адреса місцезнаходження (юридична адреса) (Eng.) , represented by Посада представника (Eng.)  ПІБ представника (Eng.)   acting underПідстава діяльності представника (Eng.) (hereinafter – the “Party 2”), on the other hand

hereinafter referred to as the "Parties" and jointly as: “Parties”, acting on the basis of the statutory documents, from the other side, have concluded this Set-off agreement (hereinafter – Agreement) about following.

WHEREAS:

a.  The Party 2 has a claim on the Party 1 at the amount of cost  USD (cost, прописом (eng.) ) in accordance with agreement agreement #num 1 dd. 01.02.2019 , hereinafter referred to as the “Claim 1”, which has not been repaid yet;

b. The Party 1 has a claim on the Party 2 at the amount of cost  EUR (cost, прописом (eng.) ) in accordance with Contract #num dd. 01.02.2019 , hereinafter referred to as: the “Claim 2”, which has not been repaid yet;

c.  both Parties wish to set off the claims and wish to lay down their legal relationship resulting from the implementation of their intentions as described below;

HAVE AGREED AS FOLLOWS:

1. SET OFF

The Parties hereby agree to set off Claim 2 at the amount of cost USD  (cost, прописом (eng.) USD) due to the Party 2, against Claim 1 at the amount of cost  USD (cost, прописом (eng.) ) due to the Party 1. As a result, the debt on Claim 1 will be repaid in full, and the debt on Claim 2 will be reduced by cost USD (cost, прописом (eng.) ), which is equivalent to cost  EUR (cost, прописом (eng.) ) - as a result, the debt on Claim 2 will be cost EUR (cost, прописом (eng.) ).

2. WAIVER

Both Parties waive their right to one's right of recourse against each other at the amount of the aforementioned set-off and both Parties accept this waiver.

3.  WAIVER OF RIGHT TO CANCELLATION/RESCISSION

Parties hereby irrevocably waive their right to seek cancellation or rescission of this Agreement.

4.  OTHER TERMS

4.1. From the moment of signing the present Agreement all previous correspondence, documents and negotiations between the parties on the questions being a subject of the present Agreement loose their validity.

4.2. The present Agreement inures from the moment of its signing and valid until the Parties fulfill their obligations.

In witness whereof, the Parties hereto have signed this agreement in duplicate, with the intention to be legally bound, each of them taking a copy.

ADDRESSES AND BANKING DETAILS

Name of  Party 1

Посада представника (Eng.)

____________ ПІБ представника (Eng.)

Name of Party 2

Посада представника (Eng.)

____________ ПІБ представника (Eng.)