0001213900-19-020817 Sample Contracts

EXCHANGE AGREEMENT
Exchange Agreement • October 22nd, 2019 • China Recycling Energy Corp • Services-business services, nec • Utah

This Exchange Agreement (this “Agreement”) is entered into as of October 16, 2019 by and between Iliad Research and Trading, L.P., a Utah limited partnership (“Lender”), and China Recycling Energy Corporation, a Nevada corporation (“Borrower”). Capitalized terms used in this Agreement without definition shall have the meanings given to them in the Exchange Note (defined below).

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