An assignment of debt agreement is a legal document between a debtor and creditor that outlines the repayment terms. An assignment of debt agreement can be used as an alternative to bankruptcy, but several requirements must be met for it to work.
In addition, if obligations are not met under a debt agreement, it might still be necessary to file for bankruptcy later on. Therefore, consulting with an attorney specializing in debt agreements is always recommended before entering into one of these contracts.
THIS ASSIGNMENT AGREEMENT is made as of May 6, 2004
IMPACT CAPITAL PARTNERS LIMITED , a body corporate with offices at 1800 Century Park East, Suite 600, Los Angeles, California 90067
PACIFICWAVE PARTNERS LIMITED , a body corporate with offices at Water Garden II, 1601 Cloverfield Boulevard, 2nd Floor, South Floor, Santa Monica, California 90404
BULLDOG TECHNOLOGIES INC. , a body corporate with offices at 128 - 11180 Coppersmith Place, Richmond, British Columbia, V7A 5G8
A. Pursuant to a letter agreement (the " Letter Agreement ") dated March 4, 2004 between the Assignor and Bulldog, Bulldog engaged the Assignor as its non-exclusive financial advisor and investment intermediary to, among other things, find and introduce one or more investors satisfactory to Bulldog who would be interested in entering into an investment transaction with Bulldog;
B. Subject to Bulldog's prior approval in writing , the Assignor has the right to assign its rights under the Letter Agreement to any person or entity as specified in writing with notice of assignment sent to Bulldog by mail or facsimile; and
C. The Assignor wishes to assign and transfer to the Assignor , and the Assignor wishes to accept the assignment and transfer from the Assignor, the rights and obligations under the Letter Agreement;
NOW THEREFORE THIS AGREEMENT WITNESSES that, in consideration of the premises, the mutual covenants and agreements herein contained and other valuable consideration (the receipt and sufficiency of which is hereby acknowledged by the parties), the parties agree as follows:
IN WITNESS WHEREOF the parties hereto have executed or caused this Agreement to be executed as of the date above written.
IMPACT CAPITAL PARTNERS LIMITED
Per: /s/ Henrik Rouf
Authorized Signatory
Name: Henrik Rouf
Title: Director
PACIFICWAVE PARTNERS LIMITED
Per: /s/ Henrik Rouf
Authorized Signatory
Name: Henrik Rouf
Title: Managing Director
BULLDOG TECHNOLOGIES INC.
Per: /s/ John Cockburn
Authorized Signatory
Name: John Cockburn
Title: President and Chief Executive Officer
Reference:
Security Exchange Commission - Edgar Database, EX-10 5 exhibit1024f10qsbmay04.htm EXHIBIT 10.24, Viewed December 20, 2021, View Source on SEC.
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