Exhibit 10.69
Dated this 5th day of March 2001
TECNOCHANNEL TECHNOLOGIES SDN BHD
(Company No. 426318-M)
AND
MYWEB ACCESS SDN BHD
(Company No. 533653-U)
AND
MYWEB NETWORK SYSTEM (BEIJING) CORPORATION LTD.
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NOVATION AGREEMENT
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XXXXX XXX & BOK
ADVOCATES & SOLICITORS
20TH FLOOR, BANGUNAN ARAB-MALAYSIAN
00 XXXXX XXXX XXXXXX
00000 XXXXX XXXXXX
THIS AGREEMENT made the 5th day of March 2001 Between:
(1) TECNOCHANNEL TECHNOLOGIES SDN BHD (Company No. 426318-M), a company
incorporated under the laws of Malaysia and having its business address
at Block G Unit G606, Phileo Damansara 1, Xx. 0, Xxxxx 00/00, Xxx Xxxxx
Xxxxxxxxx, 00000 Xxxxxxxx Xxxx, Xxxxxxxx (the "LICENSOR") of the one
part;
And
(2) MYWEB ACCESS SDN BHD (Company No. 533653-U), a company likewise
incorporated in Malaysia and having its registered office at 000, 0xx
Xxxxx, Xxxxx X, Xxxxxx Xxxxxx Xxxxx, 3, Xxxxx XX0/00, Xxxxxx Xxxx,
00000 Petaling Jaya (the "NEW LICENSOR") of the other part;
And
(3) MYWEB NETWORK SYSTEM (BEIJING) CORPORATION LTD., a company incorporated
in the People's Republic of Chine and having a business office at Xxxx
000 & 000, Xxxxx Xxxxxx Xxxxx, Xxxxxxx Xxx Xxxxx Centre, No. 3-A,
Chongwenmenwai Street, Beijing, People's Republic of China (the
"LICENSEE") of the other part.
WHEREAS:-
(A) By the Software License Contract dated the 28th day of January, 2000
("CONTRACT") made between the Licensor of the one part and the Licensee
of the other part, the Licensor has agreed to grant to the Licensee the
right to use the THUNDER software in respect of the Licensee's
production, distribution, rental and/or sale of MyWebTM set top boxes
that incorporate the THUNDER software more particularly described in
the Contract upon the terms and subject to the conditions contained in
the Contract.
(B) The Licensor wishes to be released and discharged from the Contract and
the Licensee has agreed to release and discharge the Licensor upon the
terms of the New Licensor's undertaking to perform the Contract and to
be bound by the terms of the Contract in place of the Licensor.
NOW IT IS AGREED as follows:
1. The New Licensor hereby undertakes to perform the Contract and to be bound by
the terms of the Contract in every way as if the New Licensor were a party to
the Contract in lieu of the Licensor.
2. The Licensee hereby releases and discharges the Licensor from all claims and
demands whatever in respect of the Contract and accepts the liability of the New
Licensor under the Contract in lieu of the liability of the Licensor and agrees
to be bound by the terms of the Contract in every way as if the New Licensor
were named in the Contract as a party in place of the Licensor.
3. Each party shall bear their own respective solicitors' fees and costs in
respect of he preparation and execution of this Agreement. The stamp duties
payable on this Agreement shall be borne and paid by the New Licensor.
4. This Agreement shall be binding upon the respective assigns and successors in
title of the parties hereto.
5. This Agreement shall be governed by and construed in accordance with the laws
of Malaysia.
IN WITNESS WHEREOF the duly authorised representatives of the parties hereto
have hereunto set their hands.
Signed by )
)
for and on behalf of )
TECHNOCHANNEL )
TECHNOLOGIES SDN BHD )
(Company No. 426318-M) in )
the presence of:- )
Signed by )
)
for and on behalf of )
MYWEB ACCESS SDN BHD )
(Company No. 533653-U) in )
the presence of:- )
Signed by )
)
for and on behalf of )
MYWEB NETWORK SYSTEM )
(BEIJING) CORPORATION LTD )
in the presence of:- )
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