Debt Forgiveness Agreement Sample Contracts

DEBT FORGIVENESS AGREEMENT
Debt Forgiveness Agreement • September 18th, 2017 • British Columbia

This Debt Forgiveness Agreement ("Agreement"), entered into effective July 31, 2017, by and between Pivot Pharmaceuticals Inc. (the “Company”) and Soho Capital Inc. ("Lender"), in reference to the following:

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EX-10.5 8 d750157dex105.htm DEBT FORGIVENESS AGREEMENT DEBT FORGIVENESS AGREEMENT
Debt Forgiveness Agreement • May 5th, 2020 • Delaware

THIS DEBT FORGIVENESS AGREEMENT (this “Agreement”) is made and entered into and effective as of this 24th day of June, 2014 by and between HEDGEPATH PHARMACEUTICALS, INC., a Delaware corporation (“HPPI”), and HEDGEPATH, LLC a Delaware limited liability company (“HP LLC”).

DEBT FORGIVENESS AGREEMENT
Debt Forgiveness Agreement • March 21st, 2014 • Spiral Energy Tech., Inc. • Heating equipment, except electric & warm air furnaces • New York

This Debt Forgiveness Agreement ("Agreement"), entered into effective March 31, 2013, by and among Spiral Energy Tech., Inc. (formerly Solid Solar, Inc.) (the "Company"), Clear Skies Solar, Inc. (“Clear Skies”) and Clear Skies’ wholly owned subsidiary Clear Skies Financial Corp. (“FC” and, together with Clear Skies, the “Seller”), in reference to the following:

DEBT FORGIVENESS AGREEMENT
Debt Forgiveness Agreement • September 15th, 2017 • Pivot Pharmaceuticals Inc. • Pharmaceutical preparations • British Columbia

This Debt Forgiveness Agreement (“Agreement”), entered into effective July 31, 2017, by and between Pivot Pharmaceuticals Inc. (the “Company”) and Moira Ong (“Lender”), in reference to the following:

DEBT FORGIVENESS AGREEMENT
Debt Forgiveness Agreement • June 9th, 2011 • Softech Inc • Services-computer integrated systems design • Michigan

This Debt Forgiveness Agreement (the "Agreement") is entered into effective March 8, 2011, by and among SOFTECH, INC., a Massachusetts corporation ("Borrower"), WORKGROUP TECHNOLOGY CORPORATION, a wholly owned subsidiary of Borrower and a Delaware corporation, INFORMATION DECISIONS INCORPORATED, a wholly owned subsidiary of Borrower and a Michigan corporation (Workgroup Technology Corporation and Information Decisions Incorporated shall be referred to collectively as “Guarantors”), and GREENLEAF CAPITAL, INC., a Michigan corporation ("Lender"), in reference to the following:

DEBT FORGIVENESS AGREEMENT
Debt Forgiveness Agreement • September 15th, 2017 • Pivot Pharmaceuticals Inc. • Pharmaceutical preparations • British Columbia

This Debt Forgiveness Agreement (“Agreement”), entered into effective July 31, 2017, by and between Pivot Pharmaceuticals Inc. (the “Company”) and Soho Capital Inc. (“Lender”), in reference to the following:

DEBT FORGIVENESS AGREEMENT
Debt Forgiveness Agreement • January 2nd, 2018 • Quotemedia Inc • Services-business services, nec • Nevada

THIS DEBT FORGIVENESS AGREEMENT (this “Agreement”) is made and entered into as of the 28th day of December, 2017, by and among (i) QuoteMedia, Inc., a Nevada corporation (the “Company”), and (ii) Bravenet Web Services, Inc. (“Bravenet”) and Harrison Avenue Holdings Ltd. (“Harrison,” and together with Bravenet, the “Debt Holders”).

DEBT FORGIVENESS AGREEMENT
Debt Forgiveness Agreement • September 14th, 2020 • IIOT-OXYS, Inc. • Services-prepackaged software • Massachusetts

THIS DEBT FORGIVENESS AGREEMENT (this “Agreement”) is made and entered into and effective as of the 31st day of December, 2019 (the “Effective Date”) by and between IIOT-OXYS, INC., a Nevada corporation (the “Company”), and Clifford L. Emmons, an individual residing in Massachusetts (“Mr. Emmons”).

Debt Forgiveness Agreement
Debt Forgiveness Agreement • January 19th, 2010 • SRKP 22 Inc • Blank checks

I, Tianfu Li, am willing to waive the below direct debt of China Intelligent Electric Holding Limited without any compensation. The category is as following:

DEBT FORGIVENESS AGREEMENT
Debt Forgiveness Agreement • November 17th, 2004 • LSB Industries Inc • Industrial inorganic chemicals • Oklahoma

This Debt Forgiveness Agreement ("Agreement"), entered into effective July 1, 2004, by and between Companie Financiere du Taraois, a French corporation ("Borrower") and LSB Holdings, Inc., an Oklahoma corporation ("Lender"), in reference to the following: WHEREAS, Borrower is indebted to Lender, on a secured basis, for an amount equal to approximately $4 Million USCY (the "Debt"); WHEREAS, subject to certain conditions contained herein, Lender has determined to forgive the Debt in its entirety and release the collateral securing the Debt; and WHEREAS, Borrower has determined that the forgiveness of the Debt and release of the collateral securing the Debt are in the best interest of Borrower. NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency are hereby acknowledged, the parties agree as follows:

Debt Forgiveness Agreement
Debt Forgiveness Agreement • January 19th, 2010 • SRKP 22 Inc • Blank checks

I, Tianfu Li, am willing to waive the below direct debt of Korea Hyundai Light & Electric (International) Holding Limited without any compensation. The category is as following:

DEBT FORGIVENESS AGREEMENT
Debt Forgiveness Agreement • July 5th, 2022 • Artemis Therapeutics, Inc. • Miscellaneous chemical products • Delaware

THIS DEBT FORGIVENESS AGREEMENT (this “Agreement”) is made and entered into and effective as of this __th day of _____, 2022 by and between Artemis Therapeutics, Inc., a Delaware corporation (“Artemis”), and _____________ (the “Lender”).

DEBT FORGIVENESS AGREEMENT
Debt Forgiveness Agreement • June 9th, 2022 • Sidus Space Inc. • Radiotelephone communications • Delaware

This Debt Forgiveness Agreement (this “Agreement”) is executed by Craig Technical Consulting, Inc., a Delaware corporation (the “Lender”), and Sidus Space, Inc., a Delaware corporation (the “Company”), effective as of June 3, 2022.

DEBT FORGIVENESS AGREEMENT
Debt Forgiveness Agreement • January 7th, 2020 • Digital Development Partners, Inc. • Radio & tv broadcasting & communications equipment • Nevada

This Debt Forgiveness Agreement (the “Agreement”) is entered into as of the 31st day of December, 2019, by and between Digital Development Partners, Inc., a Nevada corporation (the “Company”), and Astonia LLC (“Holder”).

DEBT FORGIVENESS AGREEMENT
Debt Forgiveness Agreement • July 20th, 2023 • Code Green Apparel Corp • Gold and silver ores • Nevada

This Debt Forgiveness Agreement (the “Agreement”) is entered into as of the 3rd day of March, 2023, by and between Code Green Apparel Corp., a Nevada corporation (the “Company”), and Carebourn Capital, L.P. (“Holder”).

DEBT FORGIVENESS AGREEMENT
Debt Forgiveness Agreement • April 30th, 2019 • To the Stars Academy of Arts & Science Inc. • Services-allied to motion picture production • California

This Debt Forgiveness Agreement (“Agreement”) is entered into effective as of March 31, 2019 (“Effective Date”), by and between To The Stars Academy of Arts and Science Inc., a Delaware public benefit corporation (“Borrower”) and Our Two Dogs, Inc., a California corporation (“Lender”), each a “Party” and together the “Parties”, with reference to the following facts:

DEBT FORGIVENESS AGREEMENT
Debt Forgiveness Agreement • September 14th, 2020 • IIOT-OXYS, Inc. • Services-prepackaged software • Massachusetts

THIS DEBT FORGIVENESS AGREEMENT (this “Agreement”) is made and entered into and effective as of the 31st day of December, 2019 (the “Effective Date”) by and between IIOT-OXYS, INC., a Nevada corporation (the “Company”), and Antony Coufal, an individual residing in Massachusetts (“Mr. Coufal”).

DEBT FORGIVENESS AGREEMENT
Debt Forgiveness Agreement • May 10th, 2011 • Global Green Solutions Inc. • Industrial organic chemicals

THIS AGREEMENT (the “Agreement”) is entered into as of this 4th day of May, 2011 by and between Global Green Solutions Inc., a Nevada corporation (the “Company”) and Arnold Hughes, of 3523 West King Edward Avenue, Vancouver, BC, Canada (“Hughes”).

DEBT FORGIVENESS AGREEMENT
Debt Forgiveness Agreement • November 24th, 2009 • ForgeHouse, Inc. • Greeting cards

This Debt Forgiveness Agreement (the “Agreement”) is entered into and effective as of September 30, 2009 (the “Effective Date”) by and between ForgeHouse Inc., a Nevada corporation (the “Borrower”), and John Britchford-Steel, a resident of the State of Georgia, in his individual capacity (“Guarantor”), and Bryan Irving, a resident of the United Kingdom, in his individual capacity (“Irving”) and Ian Morl, a resident of the United Kingdom, in his individual capacity (“Morl”, collectively with Irving the “Debt Holders”) and Insurance Medical Group Limited f/k/a/ After All Limited, a United Kingdom limited company (“After All” together with Irving and Morl, in their capacity as members of After All the “Lender”), in reference to the following:

ADDENDUM TO DEBT FORGIVENESS AGREEMENT
Debt Forgiveness Agreement • March 21st, 2014 • Spiral Energy Tech., Inc. • Heating equipment, except electric & warm air furnaces • New York

This Addendum to Debt Forgiveness Agreement ("Agreement"), is entered into effective March 31, 2013, by and among Spiral Energy Tech., Inc. (formerly Solid Solar, Inc.) (the "Company"), Clear Skies Solar, Inc. (“Clear Skies”) and Clear Skies’ wholly owned subsidiary Clear Skies Financial Corp. (“FC” and, together with Clear Skies, the “Seller”), in reference to the following:

DEBT FORGIVENESS AGREEMENT
Debt Forgiveness Agreement • November 15th, 2013 • Silver Horn Mining Ltd. • Power, distribution & specialty transformers • New York

This Debt Forgiveness Agreement (“Agreement”), is entered into effective November 8, 2013, (the “Effective Date”) by and between Silver Horn Mining Ltd., a Delaware corporation (the “Company") and Bond Media Group, an Arizona corporation ("Bond"), in reference to the following:

DEBT FORGIVENESS AGREEMENT
Debt Forgiveness Agreement • January 7th, 2020 • Digital Development Partners, Inc. • Radio & tv broadcasting & communications equipment • Nevada

This Debt Forgiveness Agreement (the “Agreement”) is entered into as of the 31st day of December, 2019, by and between Digital Development Partners, Inc., a Nevada corporation (the “Company”), and EF2T, Inc. (“Holder”).

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DEBT FORGIVENESS AGREEMENT
Debt Forgiveness Agreement • July 29th, 2021 • Arvana Inc • Blank checks • Utah

This DEBT FORGIVENESS AGREEMENT (“Agreement”) is made effective as of June. 30, 2021, by and between Arvana Inc. (“Company”) and Zahir Dhanani (“Creditor” and together with the Company, the “Parties”).

DEBT FORGIVENESS AGREEMENT
Debt Forgiveness Agreement • May 12th, 2008 • Ic Isaacs & Co Inc • Knit outerwear mills

THIS DEBT FORGIVENESS AGREEMENT (this “Agreement”) is entered into on this 9th day of May, 2008, by and between I.C. Isaacs & Company, Inc., a Delaware company (the “Borrower”), and Textile Investment International S.A., a Luxemburg company, (the “Lender”).

DEBT FORGIVENESS AGREEMENT
Debt Forgiveness Agreement • July 29th, 2021 • Arvana Inc • Blank checks • Utah

This DEBT FORGIVENESS AGREEMENT (“Agreement”) is made effective as of June 30, 2021, by and between Arvana Inc. (“Company”) and Topkapi International Investments Corp. (“Creditor” and together with the Company, the “Parties”).

DEBT FORGIVENESS AGREEMENT
Debt Forgiveness Agreement • January 7th, 2020 • Digital Development Partners, Inc. • Radio & tv broadcasting & communications equipment • Nevada

This Debt Forgiveness Agreement (the “Agreement”) is entered into as of the 31st day of December, 2019, by and between Digital Development Partners, Inc., a Nevada corporation (the “Company”), and EFT Holdings, Inc., a Nevada corporation (“Holder”).

DEBT FORGIVENESS AGREEMENT
Debt Forgiveness Agreement • March 31st, 2009 • Rub Music Enterprises, Inc. • Blank checks • Nevada

This Debt Forgiveness Agreement ("Agreement"), entered into effective February 10, 2009, by and between Rub Music Enterprises, Inc., a Nevada corporation ("Borrower") and Ben Carson, an individual ("Lender"), in reference to the following:

DEBT FORGIVENESS AGREEMENT
Debt Forgiveness Agreement • January 7th, 2014 • Northern Wind Energy Corp. • Heating equipment, except electric & warm air furnaces • New York

This Debt Forgiveness Agreement ("Agreement"), entered into effective December 31, 2012, by and among Icarus Wind Energy, Inc. (the "Company"), Clear Skies Solar, Inc. (“Clear Skies”) and Clear Skies’ wholly owned subsidiary Clear Skies Financial Corp. (“FC” and, together with Clear Skies, the “Seller”), in reference to the following:

DEBT FORGIVENESS AGREEMENT
Debt Forgiveness Agreement • November 15th, 2013 • Silver Horn Mining Ltd. • Power, distribution & specialty transformers • New York

This Debt Forgiveness Agreement (“Agreement”), is entered into effective November 8, 2013, (the “Effective Date”) by and between Silver Horn Mining Ltd., a Delaware corporation (the “Company") and MJI Resource Management, an Arizona corporation ("MJI"), in reference to the following:

DEBT FORGIVENESS AGREEMENT
Debt Forgiveness Agreement • September 14th, 2020 • IIOT-OXYS, Inc. • Services-prepackaged software • Massachusetts

THIS DEBT FORGIVENESS AGREEMENT (this “Agreement”) is made and entered into and effective as of the 31st day of December, 2019 (the “Effective Date”) by and between IIOT-OXYS, INC., a Nevada corporation (the “Company”), and Karen McNemar, an individual residing in Connecticut (“Ms. McNemar”).

DEBT FORGIVENESS AGREEMENT
Debt Forgiveness Agreement • July 21st, 2014 • Excelsis Investments Inc. • Services-business services, nec

THIS AGREEMENT (the "Agreement") is entered into as of this 31st day of March, 2014 by and between Pub Crawl Holdings / Excelsis Investments Inc., a Nevada corporation, operating at 8901 West Bay Drive, Suite 470, Largo, Florida 33770 (the "Company") Inc., and Hermaytar SA, the note Purchaser/Lender ("Lender").

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