Debt Cancellation Agreement Sample Contracts

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Debt Cancellation Agreement • June 29th, 2017

OCCC Debt Cancellation Agreement (DCA) Submission Form Your First Name: Your Last Name: Your Company’s Name (include full name and any d/b/a): Your Address: Your Phone/Fax Number(s):Phone:Fax: Your Email Address: Date Form Is Being Submitted: (mm/dd/yyyy) Type of DCA: Chapter 345 (motorcycle, RV, ATV, snowmobile, camper, boat, personal watercraft and personal watercraft trailer)Chapter 348 (motor vehicle)BOTH Form Number (should uniquely identify the form submitted): Date Form Was Last Revised: (mm/dd/yyyy) A. Required Nonrefundable Filing Fee: $250 for each submitted debt cancellation agreementB. Submission Process: Before submitting the agreement, we encourage you to read the OCCC's advisory bulletin, "Review of Debt Cancellation Agreements Requiring Insurance” posted on our website.The submission process involves two steps. First, e-mail a completed copy of this Submission Form and a scanned Abode Acrobat (pdf) “clean” version of document to DebtCancellationForms@occ

Re: Debt Cancellation Agreement
Debt Cancellation Agreement • August 9th, 2011 • Xodtec Led, Inc. • Electric lighting & wiring equipment

This agreement sets forth the terms on which the undersigned (the “Lender”) agrees to cancel indebtedness to the Lender by Xodtec LED, Inc., a Nevada corporation (the “Company”), in the principal amount of US$1,707,965, in consideration for which the Company will issue to Lender 34,159,120 shares (the “Shares”) of common stock, par value $.001 per share (“Common Stock”).

Re: Debt Cancellation Agreement
Debt Cancellation Agreement • November 18th, 2013 • American Jianye Greentech Holdings, Ltd. • Wholesale-chemicals & allied products

This agreement sets forth the terms on which the undersigned (the “Lender”) agrees to cancel indebtedness to the Lender by American Jianye Greentech Holdings, Ltd., a Nevada corporation (the “Company”), in the principal amount of US$90,000, in consideration for which the Company will issue to Lender 90,000,000 shares (the “Shares”) of common stock, par value $.001 per share (“Common Stock”).

FORM OF DEBT CANCELLATION AGREEMENT Debt Cancellation Agreement
Debt Cancellation Agreement • October 2nd, 2024 • Hallmark Venture Group, Inc. • Real estate • Nevada

Reference is made to that certain 10% Convertible Promissory Note Issued by the Company on April 6, 2023 (the “NOTE”) by and among Hallmark Venture Group Inc., a Florida corporation, whose principal executive offices are located at 5112 West Taft Road, Suite M, Liverpool, NY 13088 (the “Company”), Selkirk Global Holdings, LLC (the “Holder”), with an office located at 120 State Ave. NE, Ste 1014, Olympia, WA 98501. As of the date last written below, the remaining NOTE balance is $31,602.73 of principal and accrued interest (“Remaining Note Balance”).

Debt Cancellation Agreement
Debt Cancellation Agreement • April 19th, 2010 • Cascade Technologies Corp • Semiconductors & related devices • Wyoming

This Debt Cancellation Agreement (the “Agreement”), dated as of March 9, 2010, is entered into by Cascade Technologies Corp., a Wyoming corporation (the “Issuer”), and Shannon MacQuarrie (“Holder”).

AGREEMENT
Debt Cancellation Agreement • June 27th, 2016

With reference to the Agreed Minute on the consolidation of the debt of the Co-operative Republic of Guyana signed in Paris on 6 May 1993 (llthe Agreed Minute") -

Agreement between the Government of the Italian Republic and the Government of the Republic of Uganda
Debt Cancellation Agreement • June 3rd, 2002

The Government of the Italian Republic and the Government of the Republic of Uganda, in the spirit of friendship and economic co-operation existing between the two countries and on the basis of the Agreed Minute on the consolidation of the debt of the Republic of Uganda, signed in Paris on September 12, 2000 by the countries taking part in the Paris Club meeting, agree as follows:

COVERAGE ELECTION I ELECT THE FOLLOWING: YES, I ELECT LOSS OF LIFE DEBT CANCELLATION NO, I DO NOT ELECT LOSS OF LIFE DEBT CANCELLATION DEBT CANCELLATION PLAN COST: $ $0
Debt Cancellation Agreement • September 2nd, 2021

To be eligible for loss of life debt cancellation coverage under this contract, the borrower/s must be between the ages of 18-74 at the time of the loan/advance.

Debt cancellation agreement letter
Debt Cancellation Agreement • June 30th, 2021

In most situations, if you receive a Form 1099-C from a lender after negotiating a debt cancellation with them, you'll have to report the amount on that form to the Internal Revenue Service as taxable income. Certain exceptions do apply. For information on the third coronavirus relief package, please visit our “American Rescue Plan: What Does it Mean for You and a Third Stimulus Check” blog post. If your debt has gotten so large you can no longer afford to pay it, negotiating a debt cancellation with your lender might be just what you need in order to get by. Unfortunately, your next challenge might be a huge tax bill. In most situations, if you receive a Form 1099-C from a lender, you'll have to report the amount on that form to the Internal Revenue Service as taxable income. Certain exceptions do apply. You might consider it unfair that a debt you successfully cancel or negotiate away comes back to haunt you as taxable income. However, the IRS classifies cancelled debt as income beca

Re: Debt Cancellation Agreement
Debt Cancellation Agreement • October 1st, 2012 • Xodtec Led, Inc. • Electric lighting & wiring equipment • Nevada

This agreement sets forth the terms on which the undersigned (the “Lender”) agrees to cancel indebtedness to the Lender by Xodtec LED, Inc., a Nevada corporation (the “Company”), in the aggregate principal amount of US$32,626, in consideration for which the Company will issue to Lender 8,156,500 shares (the “Shares”) of common stock, par value $.001 per share (“Common Stock”).

AGREEMENT
Debt Cancellation Agreement • April 16th, 1999 • Consolidated Capital of North America Inc • Real estate • Pennsylvania
DEBT CANCELLATION AGREEMENT
Debt Cancellation Agreement • November 13th, 2017

BUYER(S) NAME AND ADDRESS SELLER NAME AND ADDRESS LIENHOLDER NAME AND ADDRESS CIG FINANCIAL, LLC6 EXECUTIVE CIRCLE, SUITE 100IRVINE, CA 92614(800)525-3300 VEHICLE INFORMATION YEAR MAKE MODEL VIN FINANCE AGREEMENT INFORMATION CONTRACT DATE CONTRACT TERM (MONTHS) AMOUNT FINANCED$ DEBT CANCELLATION COST$ DEBT CANCELLATION TERM (MONTHS) THE PURCHASE OF THIS DEBT CANCELLATION AGREEMENT IS OPTIONAL. THE BUYER’S DECISION TO PURCHASE OR DECLINE THIS AGREEMENT WILL NOT AFFECT THE EXTENSION OF CREDIT AND WILL NOT BE A FACTOR IN THE CREDIT APPROVAL PROCESS. THE SELLER/LIENHOLDER MAY RETAIN A PORTION OF THE COST OF THIS DEBT CANCELLATION AGREEMENT. BENEFITS PROVIDED BY THIS AGREEMENT MAY DECREASE OVER THE TERM OF THE FINANCE AGREEMENT. THE BUYER MAY OBTAIN A DEBT CANCELLATION AGREEMENT FROM AN ALTERNATIVE SOURCE (FOR EXAMPLE, FROM HIS/HER PRIMARY INSURANCE PROVIDER) AND/OR MAY CONTACT AN INSURANCE AGENT TO DETERMINE IF COMPARABLE COVERAGE MAY BE OBTAINED ELSEWHERE AND FOR A LESSER COST.THIS D

DEBT CANCELLATION AGREEMENT
Debt Cancellation Agreement • December 18th, 2020 • W&E Source Corp. • Transportation services • Delaware

THIS DEBT CANCELLATION AGREEMENT (this "Agreement"), is entered into effective as of December 14, 2020, by and between W&E Source Corp., a Delaware corporation (the "Company"), and each of the persons listed on the Schedule of Creditors attached hereto as Exhibit A (individually, a "Creditor" and collectively, the "Creditors").

Debt Cancellation Agreement Vs Gap Insurance
Debt Cancellation Agreement • July 8th, 2021

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DEMOCRATIC REPUBLIC OF SÃO TOMÉ AND PRÍNCIPE, agreement dated 24 May 2007
Debt Cancellation Agreement • June 12th, 2007
Debt Cancellation Agreement In Exchange For Stock
Debt Cancellation Agreement • February 6th, 2021

Company that buyers and debt cancellation in exchange for insolvent company continue to take advantage of credit market value of the company that the assets

Exhibit B OA Agreement DEBT CANCELLATION AGREEMENT
Debt Cancellation Agreement • August 25th, 2016 • General Steel Holdings Inc • Steel works, blast furnaces & rolling & finishing mills • Hong Kong

This Debt Cancellation Agreement (this “ Agreement ”), is made as of August 19, 2016, among General Steel Holdings, Inc., a Nevada corporation (the “ Company ”), General Steel Investment Co., Ltd., a BVI company and wholly-owned subsidiary of the company (“GS Investment”), and Oriental Ace Limited (the “ Creditor ”).

FORM OF DEBT CANCELLATION AGREEMENT Debt Cancellation Agreement
Debt Cancellation Agreement • October 2nd, 2024 • Hallmark Venture Group, Inc. • Real estate • Nevada

Reference is made to that certain 0% Convertible Exchange Note Issued by the Company on December 12, 2023 (the “NOTE”) by and among Hallmark Venture Group Inc., a Florida corporation, whose principal executive offices are located at 5112 West Taft Road, Suite M, Liverpool, NY 13088 (the “Company”), and Paul Strickland (the “Holder”), with an office located at 120 State Ave. NE, Ste 1014, Olympia, WA 98501. As of the date last written below, the remaining NOTE balance is $7,119.00 of principal and accrued interest (“Remaining Note Balance”).

DEBT CANCELLATION AGREEMENT
Debt Cancellation Agreement • November 13th, 2017

BUYER(S) NAME AND ADDRESS SELLER NAME AND ADDRESS LIENHOLDER NAME AND ADDRESS CIG FINANCIAL, LLC6 EXECUTIVE CIRCLE, SUITE 100IRVINE, CA 92614(800)525-3300 VEHICLE INFORMATION YEAR MAKE MODEL VIN FINANCE AGREEMENT INFORMATION CONTRACT DATE CONTRACT TERM (MONTHS) AMOUNT FINANCED$ DEBT CANCELLATION COST$ DEBT CANCELLATION TERM (MONTHS) THE PURCHASE OF THIS DEBT CANCELLATION AGREEMENT IS OPTIONAL. THE BUYER’S DECISION TO PURCHASE OR DECLINE THIS AGREEMENT WILL NOT AFFECT THE EXTENSION OF CREDIT AND WILL NOT BE A FACTOR IN THE CREDIT APPROVAL PROCESS. THE SELLER/LIENHOLDER MAY RETAIN A PORTION OF THE COST OF THIS DEBT CANCELLATION AGREEMENT. BENEFITS PROVIDED BY THIS AGREEMENT MAY DECREASE OVER THE TERM OF THE FINANCE AGREEMENT. THE BUYER MAY OBTAIN A DEBT CANCELLATION AGREEMENT FROM AN ALTERNATIVE SOURCE (FOR EXAMPLE, FROM HIS/HER PRIMARY INSURANCE PROVIDER) AND/OR MAY CONTACT AN INSURANCE AGENT TO DETERMINE IF COMPARABLE COVERAGE MAY BE OBTAINED ELSEWHERE AND FOR A LESSER COST.THIS D

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Contract
Debt Cancellation Agreement • May 12th, 2009
GRAND HAVANA ENTERPRISES, INC.
Debt Cancellation Agreement • February 16th, 2006 • Grand Havana Enterprises Inc • Retail-eating places

This letter agreement may be executed in two or more counterparts by original or facsimile signature, each of which when so executed will be deemed to be an original, and all of which together will be deemed to constitute one and the same agreement.

AGREEMENT
Debt Cancellation Agreement • April 7th, 2011 • SANUWAVE Health, Inc. • Surgical & medical instruments & apparatus • Nevada

This AGREEMENT (this “Agreement”) is made and entered into, effective as of the 4th day of April, 2011 (the “Effective Date”), by NightWatch Capital Partners II L.P., a limited partnership organized and existing under the laws of the State of Utah (“NightWatch Capital”) and SANUWAVE Health, Inc., a Nevada corporation (the “Company”).

Agreement between the Government of the Italian Republic and the Government of the Republic of Guinea
Debt Cancellation Agreement • November 21st, 2001

The Government of the Italian Republic and the Government of the Republic of Guinea, in the spirit of friendship and economic co-operation existing between the two countries and on the basis of the Agreed Minute on the consolidation of the debt of the Republic of Guinea, signed in Paris on May 15, 2001, by the countries taking part in the Paris Club meeting, agree as follows:

A BILL TO BE ENTITLED
Debt Cancellation Agreement • March 12th, 2009
FORM OF DEBT CANCELLATION AGREEMENT
Debt Cancellation Agreement • April 18th, 2024 • Hallmark Venture Group, Inc. • Real estate • New York

Reference is made to that certain 10% Convertible Promissory Exchange Note Issued by the Company on March 24, 2017 (the “NOTE”) by and among Hallmark Venture Group Inc., a Florida corporation, whose principal executive offices are located at 5112 West Taft Road, Suite M, Liverpool, NY 13088 (the “Company”), The Robert Papiri Defined Benefit Plan (the “Assignor”) and Phase I Operations, Inc., a corporation licensed to conduct business in New York, with an office located at 265 Sunrise Hwy, Suite 1515, Rockville Centre, New York 11570 (the “Assignee”). On March 7, 2023, the Assignor assigned the entire NOTE to Assignee pursuant to that certain Assignment of Debt Agreement (the “ADA”). As of the date last written below, the remaining NOTE balance is $8,130 of principle and accrued interest (“Remaining Note Balance”).

AGREEMENT
Debt Cancellation Agreement • April 7th, 2011 • SANUWAVE Health, Inc. • Surgical & medical instruments & apparatus • Nevada

This AGREEMENT (this “Agreement”) is made and entered into, effective as of the 4th day of April, 2011 (the “Effective Date”), by Prides Capital Fund I, L.P., a limited partnership organized and existing under the laws of the State of Massachusetts (“Prides Capital”) and SANUWAVE Health, Inc., a Nevada corporation (the “Company”).

A BILL TO BE ENTITLED
Debt Cancellation Agreement • April 16th, 2009
DEBT CANCELLATION AGREEMENT
Debt Cancellation Agreement • May 18th, 2011 • Swinging Pig Productions Inc • Services-motion picture & video tape production • Florida

This Debt Cancellation Agreement (this “Agreement”) is made and entered into by and among Swinging Pig Productions, Inc., a Florida corporation (the “Company”), Chronicles of a Skater Girl, LLC, a wholly owned subsidiary of the Company (the “Sub”) and Harlem Films, Inc., an affiliate of the Company (“Harlem Films”) and Daniel Mirman (“Mirman”), effective as of the date this Agreement is accepted by the Company in accordance with Section 2 hereof.

FORM OF DEBT CANCELLATION AGREEMENT Debt Cancellation Agreement
Debt Cancellation Agreement • January 19th, 2024 • Hallmark Venture Group, Inc. • Real estate

Reference is made to that certain 10% Convertible Promissory Note Issued by the Company on ________ (the “NOTE”) by and among Hallmark Venture Group, Inc., a Florida corporation, whose principal executive offices are located at 5112 West Taft Road, Suite M, Liverpool, NY 13088 (the “Company”), and _____________ (the “Creditor”). As of the date last written below, the remaining NOTE balance is _________ (“Remaining Note Balance”).

DEBT CANCELLATION AGREEMENT
Debt Cancellation Agreement • June 15th, 2012 • Bridgeway Acquisition Corp. • Blank checks

This Debt Cancellation Agreement (this “Agreement”) is made and entered into as of May 14, 2012 (the “Effective Date”), by and among Bridgeway Acquisition Corp., a Delaware corporation (the “Company”), Keri Bosch (“K. Bosch”), Bosch Equities, L.P. (“Bosch Equities”) and Devin J. Bosch (“D. Bosch,” together with K. Bosch and Bosch Equities, the “Boschs”).

Exhibit A GS China Agreement DEBT CANCELLATION AGREEMENT
Debt Cancellation Agreement • August 25th, 2016 • General Steel Holdings Inc • Steel works, blast furnaces & rolling & finishing mills • Hong Kong

This Debt Cancellation Agreement (this “ Agreement ”), is made as of August 19, 2016, among General Steel Holdings, Inc., a Nevada corporation (the “ Company ”), Tongyong Shengyuan (Tianjin) Technology Development Co., Ltd. ( ), a Chinese company and wholly-owned subsidiary of the company (“Tongyong Shengyuan”), and General Steel (China) Co., Ltd. (the “ Creditor ”).

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