Assignment of MagneGas Systems Purchase Agreement between MagneGas Corporation and MagneGas Energy Solutions, LLC

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Summary

MagneGas Corporation, a Delaware company, is transferring its rights and interests in a purchase agreement with Talon Ventures & Consulting GmbH to its wholly owned subsidiary, MagneGas Energy Solutions, LLC. The transfer is made "as is" and without recourse, meaning the subsidiary accepts the agreement in its current state. Both companies are represented by the same CEO, Ermanno Santilli. The assignment is effective as of October 2, 2017.

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EX-10.1 2 v476537_ex10-1.htm EXHIBIT 10.1

Exhibit 10.1

 

 

ASSIGNMENT OF PURCHASE AGREEMENT

 

FOR VALUE RECEIVED, the receipt of which is hereby acknowledged, MagneGas Corporation, a Delaware corporation (“Undersigned”) hereby grants, assigns, and transfers to its wholly owned subsidiary MagneGas Energy Solutions, LLC, a Delaware limited liability company (“Assignee”), “as is” and without recourse that certain MagneGas Systems Purchase Agreement entered into between the Assignor and Talon Ventures & Consulting GmbH on December 30, 2016.

 

TOGETHER and all rights accrued or to accrue under said MagneGas Systems Purchase Agreement “as is”.

 

 

Dated this 2nd day of October, 2017.

  

ASSIGNOR:  
     
By:    
Name: Ermanno Santilli  
Title: Chief Executive Officer  
     
     
ASSIGNEE:  
     
By:    
Name: Ermanno Santilli  
Title: Chief Executive Officer