ASSIGNMENT OF LOAN
THIS ASSIGNMENT OF LOAN (this "Assignment") effective as of the 14th
day of January, 2000, by and among XXXXXX X. XXXXXXX, XX. ("Assignor"),
XXXXXXX INTERNATIONAL, LLC, a Florida limited liability company
("Assignee"), AARICA HOLDINGS, INC., a Texas corporation ("Borrower"), and
XXXXX XXXXXX, XXXXXX SPORT, S.A. de C.V., AND TAIMEX INDUSTRIES, S.A. de
C.V. (collectively the "Guarantors").
WHEREAS, Borrower, Guarantors, and Assignor entered into that certain
Loan Agreement dated March 8, 1999, as amended, whereby Borrower and its
subsidiaries borrowed an aggregate of $2,377,500.00 from Assignor (the "Loan")
and Guarantors guaranteed the Loan; and
WHEREAS, Assignor desires to assign all of his rights, title, and
interest under the Loan, including all loan documents, promissory notes, and
security documents , and Assignee is willing to accept such assignment and
assume all obligations thereunder.
NOW, THEREFORE, in consideration of the premises herein contained, Ten
Dollars ($10.00), and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:
1. Recitals. The above recitals are hereby incorporated herein by
reference.
2. Assignment of Loan. Assignor hereby assigns all of his rights,
title, and interest under the Loan to Assignee.
3. Acceptance of Assignment. Assignee hereby accepts the assignment of
all of Assignor's rights, title, and interest under the Loan, relieves
Assignor of all liability, and assumes all obligations thereunder.
4. Consent. Borrower and Guarantors hereby consent to the Assignment
of the Loan from Assignor to Assignee.
IN WITNESS WHEREOF, the parties hereto have executed this Assignment
the day and year first above written.
ASSIGNEE: ASSIGNOR:
XXXXXXX INTERNATIONAL, LLC
By: /s/ Xxxxxx X. Xxxxxxx, Xx. ___ /s/ Xxxxxx X. Xxxxxxx, Xx.
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Xxxxxx X. Xxxxxxx, Member Xxxxxx X. Xxxxxxx, Xx.
BORROWER: GUARANTOR:
AARICA HOLDINGS, INC.
By: /s/ Xxxxx Xxxxxx _____ /s/ Xxxxx Xxxxxx
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Xxxxx Xxxxxx, President Xxxxx Xxxxxx
GUARANTOR:
AARICA SPORT, S.A. de C.V. TAIMEX INDUSTRIES, S.A. de C.V.
By: /s/ Xxxxx Xxxxxx By:_ /s/ Xxxxx Xxxxxx
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Xxxxx Xxxxxx, President Xxxxx Xxxxxx, President
ORLDOCS 10007046.1 LMW
