Collateral Pledge AgreementCollateral Pledge Agreement • June 13th, 2014 • JA Energy • Industrial organic chemicals
This Collateral Pledge agreement is to serve as a guarantee to cover the $20,000 (principal) plus any unpaid interest on a loan made to JA Energy by the Lender and the interest on the $50,000 loan he made to the Company on April 4, 2014. Upon default of the $20,000 loan to the Lender, without notice, JA Energy irrevocably agrees convey their ownership in the aforementioned patents, to the Lender, to cover the amount of monies owed to the lender, which includes both principal and interest.
