Debt Transfer Agreement
Exhibit 10.45
This is an English translation.
Transferor: Beijing Huaxia United Automobile Association Co., Ltd.
Transferee: Lianhui Auto (Langfang) Co., Ltd.
Debtor: Beijing Shenzhou Deke Technology Development Co., Ltd.
WHEREAS the Transferor becomes the creditor of the Debtor due to business transactions, and as of 29 February 2012, the Debtor owed RMB 8,171,777.78 in total to the Transferor (hereinafter the “Debts”), the Transferor, the Transferee and the Debtor hereby reach an agreement consenting the Transferor to transfer the Debts to the Transferee at the same value. Effective from 29 February 2012, the Transferee shall become the creditor of such Debts, and the Debtor shall repay such Debts to the Transferee.
IN WITNESS WHEREOF, the authorized signatories of the three parties have signed their names in the following page on 29 February 2012.
The Transferee and the Debtor hereby irrevocably agree that the Promissory Note in the amount of RMB 8,609,891.61 issued by the Debtor to the Transferee on 27 February 2012 shall become null and void from the date of this Debt Transfer Agreement.
The Transferor and the Transferee hereby irrevocably agree that the Promissory Note in the amount of RMB 19,394,200 issued by the Transferee to the Transferor on 27 February 2012 shall become null and void from the date of this Debt Transfer Agreement.
This Debt Transfer Agreement shall be governed by the laws of the People’s Republic of China.
[Signature Page Below]
Transferor: Beijing Huaxia United Automobile Association Co., Ltd.
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[Company seal affixed] |
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/s/ Xxxxx Xxx |
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Xxxxx Xxx |
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Legal Representative |
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Transferee: Lianhui Auto (Langfang) Co., Ltd. |
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[Company seal affixed] |
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/s/ Xxxxxxx Zhengyao Xx |
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Xxxxxxx Xxxxxxxx Xx |
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Legal Representative |
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Debtor: Beijing Shenzhou Deke Technology Development Co., Ltd. | |
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[Company seal affixed] |
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/s/ Xxxxxxx Zhengyao Xx |
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Xxxxxxx Xxxxxxxx Xx |
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Legal Representative |
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