TERMINATION OF CONTRACT by sweetzz1234

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									10th August, 2009. The Manager, National Bank, Palms Shopping Mall Branch, FL Dear Sir, RE: TERMINATION OF APPLICATION FOR LOAN FACILITY AND REQUEST FOR THE RETURN OF ALL SUBMITTED DOCUMENTS. You will recall that I had written on behalf of Akata Group to your bank for the termination of the request for a loan facility. This, as you know was as a result of your delay in facilitating the loan application, thereby making the Company (Akata Group) to lose the contract we had wanted to use the loan to execute. It is however, sad to know that even after fulfilling all your condition precedent, you still could not grant the loan in due time. I am therefore constraint in informing you that the Board of Directors of Akata Group, having met, resolved as follows; (i) Reiterating the termination of the loan request, and (ii) Requesting that your Bank forward to us all the documents submitted in our effort to fulfill all the conditions precedent set out in your letter of offer. The documents inter alia includes: Thirty-three post dated cheque Company’s Board Resolution authorizing borrowing and acceptance of the facility, Cancellation of National Bank Borrowers general agreement form, Property valuation report, Lease agreement form and Legal Mortgage form, Letter of subsisting agreement between the Philip Oil Company and Mahmud Malik, Letter of irrevocable domiciliation of payment from Philip Oil Company, Confirmed Performa invoice in respect of the items of lease, Copies of all the LPOs from Philip Oil Company awarding us the contract, and all other document in your possession We will appreciate that you make all the documentations available to us on or before the 17th of August, 2009. Thank you for your anticipated prompt action. Yours faithfully,

Sir Marco Joseph Akata Group


								
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