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YYB Share Transfer
Agreement
Whereas YYB
that is funded on the 13 th July 1998 is solely hold by party A, with
registered capital of USD602,400 (RMB5million);
Whereas Party A
is willing to transfer its 100% shareholding of YYB to party B, and
Party B is willing to take over YYB;
Whereas both
parties fully understand its own rights and liabilities, risks in
this transaction. Both parties agree to conduct this share transfer
in according to relevant laws and regulations.
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1.
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Conditions for signing this
agreement:
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1.1
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party A transfers YYB’s 100%
shareholding, all tangible and intangible assets;
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1.2
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party B is responsible for the debt
liabilities as indicated in debt statement in appendix2; other
debts besides appendix 2 shall be taken by party A;
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1.3
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party B shall pay the loans and
interests at ICBC pledged by the plant facilities of No.245 Avenue
Tumen, and land use right;
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2.
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according to article 1 in this
agreement, party A transfer 100% shareholding of YYB to party B;
party B agrees to take over party A’s 100% shareholding of
YYB.
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3.
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party A guarantees that the shares
transferred to party B is leg
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