PROPERTY DISBURSEMENT
SHARING AGREEMENT
Between
Taiwan Kolin Company Limited
And
SyntaxBrillian Corporation
This Agreement
is made and entered into, by and between:
Taiwan Kolin
Company Limited, incorporated in Taiwan, whose registered office is
at 11/F No. 86 Section 1, Chung Ching South Road, Taipei,
Taiwan (“Kolin”), and
SyntaxBrillian
Corporation, incorporated in the State of Delaware, the United
States of America, whose registered office at 1600 N. Desert Drive,
Tempe, 85281, U.S.A. (“SyntaxBrillian”).
WHEREAS,
SyntaxBrillian, as joint and several Tenant, signed and. executed
the industrial real estate lease agreement to lease a property
situated at 444 W Geneva Rd, Tempe, AZ 85282 (the
“Property”) from Davis Trucking as Landlord;
WHEREAS,
according to the above lease agreement, the lease shall commence
from March 1, 2006 for twelve (12) months lease term and
the monthly base rent shall be USD$120.00 for the first year and be
increased thereafter pursuant to other provisions of the lease
agreement (“Base Rent”). Additionally, an initial
security deposit of USD$500.00 shall be deposited with Landlord
(“Security Deposit”) to effect the lease
agreement.
WHEREAS, the
major shareholder of SyntaxBrillian, Kolin shall use part of the
Property to the liaison office with SyntaxBrillian.
NOW, THEREFORE,
in consideration of the mutual benefits to be derived from this
Agreement, the receipt and sufficiency of which are hereto hereby
agree as follows:
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3.
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PROPERTY DISBURSEMENT
SHARING
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3.1
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Upon commencement of the lease
agreement, Kolin agrees to share the Base Rent, Security Deposit,
real property taxes and utilities fees, inter alia, gas,
electricity,
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Page 1 of 4
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water and other
fees and payments, mutually consent by both parties from time to
time, arisen out of the Property (the “Property
Disbursement”) as shown in Schedule 1
attached.
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3.2
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SyntaxBrillian shall pay the
Property Disbursement to respective payees and Kolin shall agree
upon receipt of SyntaxBrillian’s debit memo in connection
with its portion of the Property Disbursement to reimburse and pay
forthwith in pursuance with Schedule 1 to
SyntaxBrillian.
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4.
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WARRANTIES OF
SYNTAXBRILLIAN
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4.1
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SyntaxBrillian hereby warrants and
represents to Kolin that SyntaxBrillian is a corporation duly
organized, validly existing and in good standing under the laws of
the State of Arizona, the U.S.A.
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4.2
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SyntaxBrillian hereby warrants that
SyntaxBrillian has all requisite power and authority to execute and
perform its obligations under this Agreement and consummate the
transactions contemplated hereby.
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5.
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WARRANTIES OF KOLIN
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5.1
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Kohn warrants and represents to
SyntaxBrillian that Kolin a corporation duly organize
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