Letter Agreement to Advance Funds for Liquidation of Pantheon China Acquisition Corp.

Contract Categories: Business Finance › Funding Agreements
Summary

This agreement is between Mark D. Chen, Jennifer J. Weng, Christina Jun Mu, Kevin Kezhong Wu, and Pantheon China Acquisition Corp. The signatories agree to provide the necessary funds to the Corporation if it must liquidate and its assets are insufficient to cover the costs. They also agree not to seek repayment for any funds advanced for this purpose. The agreement ensures the Corporation can complete its liquidation process if required.

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EX-10.16 4 v052736_ex10-16.htm Unassociated Document
Letter Agreement



                September 22, 2006

To the Board of Directors of
Pantheon China Acquisition Corp.

Gentlemen:

In the event that Pantheon China Acquisition Corp. (the “Corporation”) does not consummate a business combination and must liquidate and its remaining assets are insufficient to complete such liquidation, the undersigned agrees to advance such funds to the Corporation necessary to complete such liquidation and agrees not to seek repayment for such expenses.


Very truly yours,


/s/ Mark D. Chen
Mark D. Chen


/s/ Jennifer J. Weng
Jennifer J. Weng


/s/ Christina Jun Mu
Christina Jun Mu


/s/ Kevin Kezhong Wu
Kevin Kezhong Wu