Loan Cancellation Agreement between Shiyong Fan and Kaifeng Nice View Power Technology Co., Ltd.
This agreement, signed on May 28, 2010, is between Shiyong Fan and Kaifeng Nice View Power Technology Co., Ltd. It cancels a previous loan agreement in which Shiyong Fan lent RMB 35,341,600 to Kaifeng Nice View Power Technology Co., Ltd. for the acquisition of two companies. Under this new agreement, Shiyong Fan waives all rights to repayment and releases Kaifeng Nice View Power Technology Co., Ltd. from any repayment obligations. The agreement takes effect upon signing and overrides any previous related agreements.
Exhibit 10.14
Loan Cancellation Agreement
Party A: Shiyong Fan, ID No.: EA048273, address: 228 Taita Dr, Avalon, Lower Hutt, NZ;
Party B: Kaifeng Nice View Power Technology Co., Ltd.,,
Legal address: No.26 Gongyuan Road, Shunhe District, Kaifeng City
On May 28, 2010, both parties entered into this agreement in Kaifeng City, Henan Province:
Since,
The parties entered into a loan agreement that Party A will lend RMB 35,341,600 to Party B, for the purpose of acquiring Henan Kaifeng Desheng Boiler Co., Ltd.,and Henan Desheng Boiler Installation Co., Ltd.,. The perties now have rearrangement for the loan agreement above mentioned.
The parties hereby agreed:
Since the date of on which this agreement is signed, Party A waive the repayment obligations of Party B under the above-mentioned loan agreement, and give up the contracted rights to require Party B to repay the loan, and all other related rights. Consensus reached by the parties on the above-mentioned arrangements of the loan contract and the debt relief. Neither party constitutes a breach to the other party, including breaches of the obligation of prior notification.
This agreement shall come into effect upon both parties’ signature and seal. Any conflicted conventions or terms, oral or written, shall automatically terminate.
Party A: Shiyong Fan
Signature:
Party B: Kaifeng Nice View Power Technology Co., Ltd.,
Seal:
Legal Representative (or Authorized Representative):
Signature
Date:
