Assignment of Loan Agreement by J. R. Simplot Company to Simplot Taiwan Inc. Relating to SemiLEDs Corporation Loan
J. R. Simplot Company is transferring all its rights and interests in a $1,500,000 loan agreement with SemiLEDs Corporation to Simplot Taiwan Inc. This means Simplot Taiwan Inc. will now hold the lender's position in the original loan agreement dated January 8, 2019. The assignment is made without any guarantees or warranties from J. R. Simplot Company. All parties, including SemiLEDs Corporation, have agreed to this transfer as of January 7, 2024.
Exhibit 10.5
Assignment of LOAN AGREEMENT
For Value Received, J. R. Simplot Company, a Nevada corporation (“Assignor”), hereby assigns and transfers all of the Assignor’s right, title and interest in and to the Loan Agreement and all Loan Documents as defined in the Loan Agreement (the “Loan”) by and between SemiLEDs Corporation, a Delaware corporation, as borrower, and Assignor, as lender, dated January 8, 2019, in the original principal amount of $1,500,000 to Simplot Taiwan Inc., an Idaho corporation (“Assignee”), in accordance with and subject to the terms and conditions of the Loan.
This assignment is made without representation, warranty, covenant, or recourse against Assignor.
Dated: January 7, 2024
J. R. Simplot Company
By: ___ /s/ Scott R. Simplot _
Name: Scott Simplot
Title: Chairman
Agreed to and accepted:
Simplot Taiwan Inc.
By: _____ /s/ Scott R. Simplot _______________
Name: Scott Simplot
Title: Director
SEMILEDS CORPORATION
By: _____/s/ Christopher Lee ______________
Name: Christopher Lee
Title: Chief Financial Officer
