Tri-party Creditor's Right Transfer Agreement
Exhibit
10.11
Tri-party
Creditor's Right Transfer Agreement
Party A:
Beijing ZYTX Technology Co., Ltd
Party B:
Beijing Xxxx Xxxx Ji Xun Science & Technology Development
Co. Ltd
Party C:
Beijing San Teng Da Fei Technology Development Co. Ltd
Whereas:
From July 17,
2009 to December 1, 2009, Party A and Party B signed three purchase contracts
for a product of wireless internet (including supplementary agreements),
according to provisions of contracts, Party A purchased 70,000 sets of wireless
internet terminal. Up to now, Party A has made advance payment
amounting to RMB 139,700,000 in total to Party B, such advance payment has
actually formed creditor’s rights of Party A to Party B (the “Creditor’s
Rights”).
On the
principle of mutual benefit and reciprocity, through amicable negotiation by
Party A, B, and C, Party A and B agree to transfer part of the Creditor’s Rights
to Party C. Party C, agree to accept such part of the Creditor’s
Rights. According to Contract Law of the People's
Republic of China and Company Law of the Peoples Republic
of China and other related laws and regulations, the following agreement
is reached on transfer of the Creditor’s Rights for jointly complying
with.
Article
1 Transfer of object
Party A
agrees to transfer part of the Creditor’s Rights amounting to RMB 72,400,000 to
Party C, which involves 36,200 sets of wireless internet terminal, and Party C
agree to accept such Creditor’s Rights.
Article
2 Transfer price
Party A, and
Party C agree transfer price of Creditor’s Rights is RMB
72,400,000.
Article
3 Other provisions
1. Any
amendment and supplementation made herein shall be in writing and legally signed
and sealed by each party.
2. Any
dispute arising from performance of this agreement shall be settled through
amicable negotiation, if negotiation fails, either party shall be entitled to
institute legal proceedings before People’s Court with
jurisdiction.
3. This
agreement is made in triplicate, one copy for Party A, B, and C, respectively,
with equal force.
4. This
agreement comes into force upon signed by each party.
（No text below）
Party A
(official seal): Beijing ZYTX Technology Co.,
Ltd
/s/
Signing
time: June 29, 2010
Party B
(official seal): Beijing Xxxx Xxxx Ji Xun Science & Technology Development
Co. Ltd
/s/
Signing
time: June 29, 2010
Party C
(official seal): Beijing San Teng Da Fei Technology Development Co.
Ltd
/s/
Signing
time: June 29, 2010
