Notice of Default No.5

Our Ref: xxx

Date: xxx

To                    :           xxx Middle East,

                                    P.O.Box xxx,

            Dubai – UAE.

Attention          :           Mr. xxx

                        :           Project Manager

Project             :           xxx Towers Project, Dubai

Subject :     Notice of Default No.5

Reference:  a) xxx dated 15 August xxxx

                     b) xxx dated 29 August xxxx

                     c) xxx dated 09 November xxxx

                       d) xxx dated 21 November xxxx

Dear Sir,

We are writing again to inform you that despite our several reminders and requests by mail (appendix 1), AL XXXX is one more time in delay on releasing our overdue certified payment of December xxxx and our variation approval.

We remind you that as per our Work Order No. xxx, Terms of Payment, clause (b): “payment: 75% of order value will be paid against material delivery. Payment to be made within 75 days from the date of IPA and certification to be issued by AL XXXX within 15 days of IPA.”

Accordingly, our IPA#9 was submitted on 29 December xxxx (appendix 2) and the due date for payment is 75 days from IPA date therefore the due date was 14 March xxx.

• 31 days of delay till date in the release of payment amounting to AED xxx against our Invoice No. EXG/2022/00002 dated 31 January xxx. (appendix 3)

It must be noted that your recurring delays in payment throughout the project are causing undue financial damage to Xxxx.

In addition, we remind you that January xxxcertified payment amounting to AED xxx against our Invoice No. EXG/2022/00004 dated 21 February xxx (appendix 4) will be due on 16 April xxx.

Accordingly we urge you to release our payments amounting of more than AED xxx million of December xxxx & January 2022 by latest 16 April xxx.

Also, our variation (VTC-02) (appendix 5) is submitted to the Main Contractor since July xxxx and remains unevaluated and unapproved till date. We have been receiving since February xxx confirmations (appendix 6) that it will be cleared to Xxxx in a week time but till date nothing has been received.

You will be fully liable for any resulting consequence of your actions and Xxxx will not be held liable for any impact your defaults may have on the site progress and work completion. These liabilities reside with Al XXXX.

Yours faithfully,

On behalf of  xxx LLC

xxx

Project Manager