ELECTRIC POWER PURCHASE AND SALE AGREEMENT CHESF BRASKEM S.A. CHLORO SODA UNIT – UCS - AL ADDENDUM TO CCVE - 012/2004
Exhibit 4.21
Chesf
Companhia Hidro Elétrica do São Francisco
ELECTRIC POWER PURCHASE AND SALE AGREEMENT
CHESF
X
BRASKEM S.A.
CHLORO SODA UNIT – UCS - AL
ADDENDUM TO CCVE - 012/2004
FIRST TERM OF ADDENDUM TO THE ELECTRIC POWER PURCHASE AND SALE AGREEMENT CELEBRATED BETWEEN COMPANHIA HIDRO ELÉTRICA DO SÃO FRANCISCO - CHESF AND BRASKEM S.A., ON OCTOBER 20, 2004.
By this instrument, the PARTIES
COMPANHIA HIDRO ELÉTRICA DO SÃO FRANCISCO — CHESF, a public services concessionaire engaged in the supply of electric power, headquartered in the city of Recife, in the state of Pernambuco, at ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, n° 333, Bairro do Bongi, enrolled before the CNPJ of the Ministry of Finance under no. 33.541.368/0001-16, and enrolled before the state tax office under no. 18.1.001.0005584-6, hereinafter simply referred to as “CHESF” and represented herein pursuant its Social Bylaws by its Directors, described and undersigned at the end of the agreement; and
BRASKEM S.A. - UCS-AL, located at Avenida Assis Chateaubriand, n° 5.260, Pontal da Barra, in the Municipality of Maceió, in the State of Alagoas, complying with the 230kV voltage supplied by the basic powergrid, enrolled before the CNPJ/MF under no. 42.150.391/0022-03, and State Enrollment no. 240.071.115-AL, hereinafter simply referred to as “CONSUMER” and represented herein pursuant is Social Bylaws by its Directors who have been described at the end and who have signed this agreement;
WHEREAS
| • | pursuant art. 25 of Law no. 10.848 dated March 15, 2004, the PARTIES have decided to modify the power supply agreement purporting to have it comply with the new sectorial regulations regarding the commercialization of electric power, replacing it by several electric power purchase and sale agreements and the use of the transmission and connection system, |
| • | as result, the PARTIES have signed the Electric Power Purchase and Sale Agreement on October 20, 2004, referred to herein as AGREEMENT; |
| • | and pursuant art. 25 of Law no. 10.848, dated March 15, 2004, the parties being interested in amending said AGREEMENT; |
have decided to celebrate the 1st. Term of Addendum to the AGREEMENT pursuant the following clauses and conditions:
FIRST CLAUSE – This Term of Addendum (“ADDENDUM”) purports to extend the term of the AGREEMENT and, for all contractual purposes, to establish:
| a) | the required amounts for the year 2010; |
| b) | the limits regarding the revision of requirements for year 2010, |
SECOND CLAUSE — the AGREEMENT being amended herein shall have its term extended to remain in effect until December 31, 2010, being extinguished at that time upon full accomplishment of all obligations arising therein;
THIRD CLAUSE — The ELECTRIC POWER RESERVE CHART appended to Annex I of the AGREEMENT being amended herein by the ELECTRIC POWER RESERVE CHART listed on Annex I to this Term of Addendum;
FOURTH CLAUSE — The chart showing the limits for the variation regarding the annual revision of requirements, found in sub-item (c) of the Third Paragraph of Clause 5 of said AGREEMENT being amended herein is replaced by the table infra.
| Year of Supply |
Lower Limit % |
Upper Limit % | ||
| 2006 |
83 | 120 | ||
| 2007 |
70 | 120 | ||
| 2008 |
70 | 120 | ||
| 2009 |
70 | 120 | ||
| 2010 |
65 | 125 |
FIFTH CLAUSE — All the remaining terms envisaged in the AGREEMENT remain unchanged, and they shall remain throughout their term of effectiveness.
And, in witness whereof, the PARTIES have celebrated this TERM OF ADDENDUM in two (2) counterparts, each considered to be an original, in the presence of the two undersigned witnesses.
Recife, October 20, 2004.
| Companhia Hidro Elétrica do São Francisco – CHESF | ||||
| ▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Director-President CPF: ▇▇▇.▇▇▇.▇▇▇-▇▇ |
Mozart Bandeira Arnaud Operations Director CPF: ▇▇▇.▇▇▇.▇▇▇-▇▇ | |||
| CONSUMER: BRASKEM S.A. – UCS-AL | ||||
| ▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ Director CPF: ▇▇▇.▇▇▇.▇▇▇-▇▇ |
▇▇▇▇▇▇▇ de ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ Power Manager/Attorney in Fact CPF: ▇▇▇.▇▇▇.▇▇▇-▇▇ | |||
| Witnesses: | ||||
| Francisco ▇▇▇▇▇▇ ▇▇▇▇ CPF: ▇▇▇.▇▇▇.▇▇▇-▇▇ |
▇▇▇▇ ▇▇▇▇▇▇ de ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ CPF: ▇▇▇.▇▇▇.▇▇▇-▇▇ | |||
ELECTRIC POWER RESERVE CHART - ANNEX I
Annex to the Term of Addendum No. 01 of the Electric Power Reserve and Supply Agreement, celebrated between CHESF and BRASKEM - UCS-AL, on 10/20/2004.
| Period of Supply |
Period of the year |
ELECTRIC POWER RESERVE (amounts in kW) | ||||||
| item |
Month/year |
Peak |
Off peak | |||||
| 1 |
Nov/2004 | dry | 164,000 | 164,000 | ||||
| 2 |
Dec 2004 | wet | 164,000 | 164,000 | ||||
| 3 |
Jan to Apr/2005 | wet | 136,000 | 164,000 | ||||
| 4 |
May to Nov/2005 | dry | 136,000 | 164,000 | ||||
| 5 |
Dec /2005 | wet | 136,000 | 164,000 | ||||
| 6 |
Jan to Apr/2006 | wet | 164,000 | 164,000 | ||||
| 7 |
May to Nov/2006 | dry | 164,000 | 164,000 | ||||
| 8 |
Dec/2006 | wet | 164,000 | 164,000 | ||||
| 9 |
Jan to Apr/2007 | wet | 164,000 | 164,000 | ||||
| 10 |
May to Nov/2007 | dry | 164,000 | 164,000 | ||||
| 11 |
Dec/2007 | wet | 164,000 | 164,000 | ||||
| 12 |
Jan to Apr/2008 | wet | 184,000 | 184,000 | ||||
| 13 |
May to Nov/2008 | dry | 184,000 | 184,000 | ||||
| 14 |
Dec/2008 | wet | 184,000 | 184,000 | ||||
| 15 |
Jan to Apr/2009 | wet | 184,000 | 184,000 | ||||
| 16 |
May to Nov/2009 | dry | 184,000 | 184,000 | ||||
| 17 |
Dec/2009 | wet | 184,000 | 184,000 | ||||
| 18 |
Jan to Apr/2010 | wet | 184,000 | 184,000 | ||||
| 19 |
May to Nov/2010 | dry | 184,000 | 184,000 | ||||
| 20 |
Dec/2010 | wet | 184,000 | 184,000 | ||||