Letter of Guarantee by KIBO Technology Fund for Leo Motors Co., Ltd. to Shin Han Bank (May 27, 2009)

Contract Categories: Business Finance › Guaranty Agreements
Summary

KIBO Technology Fund issued a letter of guarantee to Shin Han Bank on behalf of Leo Motors Co., Ltd., guaranteeing a bank credit of 500,000,000 Korean Won for regular business operations. The guarantee is valid until May 26, 2010, and KIBO assumes responsibility as a surety for the specified amount. There are no special conditions attached to this guarantee. The agreement is signed by the CEOs of both KIBO Technology Fund and Leo Motors Co., Ltd.

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EX-10.10 4 leom10q2q2009x10-10.txt 10.10 LETTER OF GUARANTEE BY KIBO TECHNOLOGY FUND DATED MAY 27, 2009. Exhibit 10.10 KIBO'S LETTER OF GUARANREE CREDIT GUARANTEE FOR BANK GUARANTEE NUMBER 106200900340 RECIPIENT : SHIN HAN BANK GUARANTEE AMOUNT : 500,000,000 KOREAN WON - ---------------------------------- ------------------------------------------- Principal Debtor Corporation Leo Motors Co., Ltd. --------------- ------------------------------------------- CEO & President Jung Yong Lee --------------- ------------------------------------------- Address 291-1 , Hasangok-Dong, Hanam-Si, Gyunggi-Do - ---------------------------------- ------------------------------------------- Term Until May 26 2010 - ---------------------------------- ------------------------------------------- Guarantee Method Individual Guarantee - ---------------------------------- ------------------------------------------- Credit Type Credit for Regular Business Operation - ---------------------------------- ------------------------------------------- Special Guarantee Condition None - ---------------------------------- ------------------------------------------- KIBO shall guarantee the responsibility of a surety as set forth above. ISSUED ON MAY 27 2009 By: //_________________________________ Byung Hwa Jin CEO & President KIBO Technology Fund Branch : Sopa Technology Evaluation Center In charger of : Jin Hyung Kim Tel : 82-2-3432-8031~40 Address : Duam Bldg 2F, Seokchon-dong 174-6 Sopa-gu, Seoul, Korea