Termination Notice for Equipment Lease/Option to Purchase Agreement (Contract No. 11124) between TransCanada Keystone Pipeline, LP and Save The World Air, Inc.
TransCanada Keystone Pipeline, LP has notified Save The World Air, Inc. (STWA) that it is terminating their Equipment Lease/Option to Purchase Agreement (Contract No. 11124), effective October 15, 2014. The termination is in accordance with the contract's clause allowing either party to end the agreement with ninety days' written notice. The reason for early termination is that the required testing is being expedited, making the full lease term unnecessary. STWA is asked to acknowledge receipt of this notice by signing and returning a copy.
EXHIBIT 10.1
TransCanada Keystone Pipeline, LP
450 - 1st Street SW
Calgary, AB T2P 5H1
Tel: 403 ###-###-####
Fax: 403 ###-###-####
Email: ***@***
July 15, 2014
Save The World Air, Inc. (STWA)
735 State Street, Suite 500
Santa Barbara, CA 93101
Attention: Gregg M. Bigger, President & CFO
| RE: | Contract No. 11124 |
| Equipment Lease / Option to Purchase Agreemen | |
| Notice of Termination Letter for Contract No, 11124 | |
Please be advised that Contract 11124 relating to the Equipment Lease I Option to Purchase Agreement between STWA and TransCanada Keystone Pipelines, LP is being terminated effective October 15th, 2014.
Termination Clause 14
"During the Initial Term, either Party may terminate this Agreement at any time for any reason on ninety (90) days written notice to the other."
The justification for the early termination is due to the project working to expedite the required testing and believes the full term of the lease is unnecessary to successfully complete testing.
Please acknowledge receipt of this letter by signing below and returning one copy to Sheelagh Forsyth at sheelagh_ ***@***.
Regards,
/s/ Derek Brammer
Derek Brammer
Project Manager, Keystone Pipeline Project
| cc: | Ben Weber, TransCanada |
| Sheelagh Forsyth, TransCanada |
ACCEPTED AND AGREED TO BY:
Save The World Air, Inc.
By:________________________
Name:______________________
Title:_______________________
Date:_______________________
| SWTA Contract No. 11124 | Page 1 |
| Termination Letter |
