LinuxQuestions.org - Error Code : 1064 You have an error in your SQL syntax

I'm trying to import a database to our new server:
eg. myShell:~ > mysql -h dbxx.perfora.net -u dboxxxxxxxx -p dbxxxxxxxx < dump_file.sql

I'm getting this error:
Error Code : 1064 You have an error in your SQL syntax. Check the manual that corresponds
to your MySQL server version for the right syntax to use near 'DEFAULT CHARSET=latin1' at line 6

I check line 6:(which is empty)
1 -- MySQL dump 10.10
2 --
3 -- Host: conference.behaviordesign.com Database: bhvrconference
4 -- ------------------------------------------------------
5 -- Server version 5.0.24a-standard-log
6
7 /*!40101 SET @OLD_CHARACTER_SET_CLIENT=@@CHARACTER_SET_CLIENT */;
8 /*!40101 SET @OLD_CHARACTER_SET_RESULTS=@@CHARACTER_SET_RESULTS */;

I was searching that this might be a different mysql version problem, so I check each server with the status command and got:

Destination

mysql Ver 14.12 Distrib 5.0.16, for pc-linux-gnu (i686) using readline 5.0

Connection id: 1481146
Current database:
Current user: someuser
SSL: Not in use
Current pager: less
Using outfile: ''
Using delimiter: ;
Server version: 4.0.27-standard-log
Protocol version: 10
Connection: db965.perfora.net via TCP/IP
Client characterset: latin1
Server characterset: latin1
TCP port: 3306
Uptime: 2 days 7 hours 19 min 49 sec

Threads: 4 Questions: 75993892 Slow queries: 106 Opens: 4202288 Flush tables: 1 Open tables: 64 Queries per second avg: 381.517

Source(where dumps where made)
mysql Ver 14.12 Distrib 5.0.16, for pc-linux-gnu (i386) using readline 5.0

Connection id: 2495166
Current database:
Current user: someuser
SSL: Not in use
Current pager: stdout
Using outfile: ''
Using delimiter: ;
Server version: 5.0.24a-standard-log
Protocol version: 10
Connection: conference.behaviordesign.com via TCP/IP
Server characterset: latin1
Db characterset: latin1
Client characterset: latin1
Conn. characterset: latin1
TCP port: 3306
Uptime: 22 days 12 hours 45 min 15 sec

Threads: 5 Questions: 75683366 Slow queries: 14404996 Opens: 1983067 Flush t ables: 24 Open tables: 350 Queries per second avg: 38.877

I confirmed that it is in fact two diff. versions. How can I make this imports happen? Simplest solution. Thanks
(Excuse me for the confusion, [source & Destination] Dumps were made in the Server version:5.0.24a-standard-log)