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Interest Rate
Term of Fixed Time Deposits on Fixed Time Deposits
June 27, 1985, until July 30, 1985 7.50
July 30, 1985, until Aug. 30, 1985 *
Aug. 30, 1985, until Oct. 2, 1985 7.75
Oct. 2, 1985, until Nov. 4, 1985 7.75
Nov. 4, 1985, until Dec. 4, 1985 7.8125
Dec. 4, 1985, until Jan. 6, 1986 8.00
Jan. 6, 1986, until Feb. 6, 1986 7.875
Feb. 6, 1986, until Mar. 6, 1986 7.75
* Interest rate not disclosed by the record.
The interest on each of the foregoing fixed time deposits
was payable on its maturity date. The interest payable on each
of those deposits was (1) included in the amount used to purchase
the succeeding fixed time deposit in the case of three such
deposits, (2) was ultimately credited to an account in the name
of Pioneer in the case of all but two such deposits, and (3) was
disposed of in a manner not disclosed by the record in the case
of those two deposits.33
The original UB $800,000 Radcliffe loan was renewed in 1986
(UB $800,000 Radcliffe renewed loan). That renewed loan was due
on July 10, 1986, although it was not repaid until July 23, 1986.
33 The parties agree on brief that the interest payable in 1985
and 1986 on all the fixed time deposits purchased with the Multi-
Credit $800,000 deposit was deposited into an account in the name
of Multi-Credit in Standard Chartered Bank HK. The parties'
agreement is contrary to the record in the case of six of the
fixed time deposits purchased with the Multi-Credit $800,000
deposit from June 1985 until February 1986. In the case of two
of those deposits, the record does not disclose whether or not
the parties' agreement is correct.
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