Common use of Transfer of Debts Clause in Contracts

Transfer of Debts. 1.1 Xx Xxxxx agrees to transfer to Lu Min, and Lu Min agrees to accept, the debt of RMB 340,000 owed by Xx Xxxxx to Cheerbright, and Xx Xxxxx agrees to transfer to Xxx Xxxxxx, and Xxx Xxxxxx agrees to accept, the debt of RMB 340,000 owed by Xx Xxxxx to Cheerbright; Fan Zheng agrees to transfer to Lu Min, and Lu Min agrees to accept, the debt of RMB 120,000 owed by Fan Zheng to Cheerbright, and Fan Zheng agrees to transfer to Xxx Xxxxxx, and Xxx Xxxxxx agrees to accept, the debt of RMB 120,000 owed by Fan Zheng to Cheerbright; Qin Zhi agrees to transfer to Lu Min, and Lu Min agrees to accept, the debt of RMB 40,000 owed by Qin Zhi to Cheerbright, and Qin Zhi agrees to transfer to Xxx Xxxxxx, and Xxx Xxxxxx agrees to accept, the debt of RMB 40,000 owed by Qin Zhi to Cheerbright. After the consummation of the transfer of the said debts, Xx Xxxxx shall owe the debt of RMB 340,000 and RMB 340,000 respectively to Lu Min and Xxx Xxxxxx, Fan Zheng shall owe the debt of RMB 120,000 and RMB 120,000 respectively to Lu Min and Xxx Xxxxxx, and Xxx Xxx shall owe the debt of RMB 40,000 and RMB 40,000 respectively to Lu Min and Xxx Xxxxxx.

Transfer of Debts. 1.1 Xx Xxxxx agrees to transfer to Lu Min, and Lu Min agrees to accept, the debt of RMB 340,000 3,400,000 owed by Xx Xxxxx to Cheerbright, and Xx Xxxxx agrees to transfer to Xxx Xxxxxx, and Xxx Xxxxxx agrees to accept, the debt of RMB 340,000 3,400,000 owed by Xx Xxxxx to Cheerbright; Fan Zheng agrees to transfer to Lu Min, and Lu Min agrees to accept, the debt of RMB 120,000 1,200,000 owed by Fan Zheng to Cheerbright, and Fan Zheng agrees to transfer to Xxx Xxxxxx, and Xxx Xxxxxx agrees to accept, the debt of RMB 120,000 1,200,000 owed by Fan Zheng to Cheerbright; Qin Zhi agrees to transfer to Lu Min, and Lu Min agrees to accept, the debt of RMB 40,000 400,000 owed by Qin Zhi to Cheerbright, and Qin Zhi agrees to transfer to Xxx Xxxxxx, and Xxx Xxxxxx agrees to accept, the debt of RMB 40,000 400,000 owed by Qin Zhi to Cheerbright. After the consummation of the transfer of the said debts, Xx Xxxxx shall owe the debt of RMB 340,000 3,400,000 and RMB 340,000 3,400,000 respectively to Lu Min and Xxx Xxxxxx, Fan Zheng shall owe the debt of RMB 120,000 1,200,000 and RMB 120,000 1,200,000 respectively to Lu Min and Xxx Xxxxxx, and Xxx Xxx shall owe the debt of RMB 40,000 400,000 and RMB 40,000 400,000 respectively to Lu Min and Xxx Xxxxxx.

Transfer of Debts. 1.1 Xx Xxxxx agrees to transfer to Lu Min, and Lu Min agrees to accept, the debt of RMB 340,000 3,060,000 owed by Xx Xxxxx to Cheerbright, and Xx Xxxxx agrees to transfer to Xxx Xxxxxx, and Xxx Xxxxxx agrees to accept, the debt of RMB 340,000 3,060,000 owed by Xx Xxxxx to Cheerbright; Fan Zheng agrees to transfer to Lu Min, and Lu Min agrees to accept, the debt of RMB 120,000 1,080,000 owed by Fan Zheng to Cheerbright, and Fan Zheng agrees to transfer to Xxx Xxxxxx, and Xxx Xxxxxx agrees to accept, the debt of RMB 120,000 1,080,000 owed by Fan Zheng to Cheerbright; Qin Zhi agrees to transfer to Lu Min, and Lu Min agrees to accept, the debt of RMB 40,000 360,000 owed by Qin Zhi to Cheerbright, and Qin Zhi agrees to transfer to Xxx Xxxxxx, and Xxx Xxxxxx agrees to accept, the debt of RMB 40,000 360,000 owed by Qin Zhi to Cheerbright. After the consummation of the transfer of the said debts, Xx Xxxxx shall owe the debt of RMB 340,000 3,060,000 and RMB 340,000 3,060,000 respectively to Lu Min and Xxx Xxxxxx, Fan Zheng shall owe the debt of RMB 120,000 1,080,000 and RMB 120,000 1,080,000 respectively to Lu Min and Xxx Xxxxxx, and Xxx Xxx shall owe the debt of RMB 40,000 360,000 and RMB 40,000 360,000 respectively to Lu Min and Xxx Xxxxxx.