
(1) ABC COMPANY
(2)XYZ COMPANY
(3) MR DEF
DEED OF ASSIGNMENT
THIS DEED is made on
BY:
(1) ABC COMPANY, a company incorporated under the companies ordinance of Hong Kong whose registered office is at Flat B, 9/F., XXX Commercial Centre, XXX Shanghai Street, Yau Ma Tei, Kowloon, Hong Kong (the “Assignor”),
(2) XYZ COMPANY, a company incorporated under the laws of the People’s Republic of China whose registered office is at 深圳市XX路XXX大廈A座9層 (the “Assignee”) and
(3) MR DEF(XXX), (the “Person”).
WHEREAS the Person is indebted to the Assignor in the amount of HK$961,533.29 (the “Loan”) and the Assignor agrees to effect an assignment of the Loan to the Assignee subject to and in accordance with the terms hereof.
NOW THIS DEED WITNESSETH as follows:
1. ASSIGNMENT
1.1 In consideration of the Assignee agreeing to repay the Assignor pursuant to Clause 1.2, the Assignor as beneficial owner hereby assigns to the Assignee absolutely and the Assignee agrees to take an assignment of all the Assignor’s right, title and interest in the Loan presently due and owing to the Assignor by the Person.
1.2 The Assignee hereby agrees that, subject to receipt from the Person of an amount equivalent to the Loan, the Assignee shall, at any time on demand of the Assignor, repay the Assignor in full the Loan free of any interest or third party encumbrance of whatever nature.
2. REPRESENTATIONS
3. NOTICE TO THE PERSON
4. FURTHER ASSURANCE
5. GOVERNING LAW AND JURISDICTION
AS WITNESS this Assignment has been executed as a Deed on the day first before written.
The Common Seal of )
The Assignor was hereto )
affixed in the presence of: )
The Common Seal of )
the Assignee was hereto )
affixed in the presence of )
Signed by (the Person): )
FIRST SCHEDULE
As at the date of March 31, 2000/8/16
A.ABC COMPANY is indebted to XYZ COMPANY in the sum of HK$1,879,532.26.
B.MR DEF is indebted to ABC COMPANY in the sum of HK$961,533.29.
SECOND SCHEDULE
As at March 31, 2000 following the implementation of this Agreement the net
indebtedness relative to the three parties should be
| A. | ABC COMPANY’S indebtedness to XYZ COMPANY | = HK$917,998.97 |
| B. | MR DEF’S indebtedness to ABC COMPANY | = NIL |
