Early Repayment AgreementEarly Repayment Agreement • March 23rd, 2015 • China Recycling Energy Corp • Services-business services, nec
The Parties entered a Financial Leasing Agreement with respect to Zhonggang waste heat power generation assets in June 2011. Party A continues making payment in accordance with the lease agreement. However, considering such waste heat power generation project might be acquired or restructured during the term of the lease agreement, after negotiation, both parties agreed to enter into the following agreement with respect to Zhonggang waste heat power generation project.
Repurchase Agreement for the Waste Heat Power Generation Project of Zhong Gang Group Bin Hai Enterprise Co., Ltd.China Recycling Energy Corp • March 23rd, 2015 • Services-business services, nec
Whereas, Party A and B signed the "Waste Heat Recycling and Power Generation Cooperative Agreement" on September 26, 2008. Party A has completed its obligation including the construction, testing and power generating as agreed in the cooperative agreement. Party A has the ownership of this project. The term for providing energy-saving service has not been 9 years yet. However, the project was not put into operation for power generation due to Party B’s reason. Recently Party B’s controlling shareholder, Zhong Gang Group, is making strategic adjustments to its entities in response to the changes of iron and steel market, which results in a restructure of Party B. In order to have the merger completed smoothly, Party B decides to consolidate its various outsourced supporting projects (including waste heat power generation projects) as its overall consolidation and reorganization.
