Document:

f10k2010ex10xiv_greenchek.htm

Exhibit 10.14

 

LOAN AGREEMENT

THIS LOAN AGREEMENT, dated January 1st, 2010, made in Hong Kong, by and between:

Party A: Gold Spread Trading Limited, a limited liability company registered in Hong Kong, with its registered address at: 1301 Bank of America Tower, 12 Harcourt Road, Central Hong Kong, Legal Representative: Li Wong.

Party B: GreenChek Technology Inc. a Nevada, USA incorporated company, with its corporate address at: Suite 2450 – 101 California Street, San Francisco, CA, USA 94111.

RECITALS

WHEREAS, Party B desires to receive funding for the manufacture of its emissions reduction units; and Party A desires to provide Party B with such loan in USD. For the purpose to define the rights and obligations of both parties hereto, Party A and Party B enter into this Loan Agreement (this "Agreement") on the principle of equality and mutual benefit.

 

ARTICLE I

AMOUNT AND TERM OF LOAN

1.1. Party A agrees, subject to the terms and conditions of this Agreement, to extend interest-free loan in USD to Party B (the "Loan"). The aggregate amounts of the Loan shall be USD 32,500.00.

1.2. Party B shall repay in full to Party A the Loan that Party A actually extends to Party B by issuing 1,625,000 common shares of Party B’s capital stock.

ARTICLE II

METHOD OF BORROWING AND USE OF LOAN PROCEEDS

Immediately upon execution of this Agreement, Party A shall make available to Party B an amount not more than USD10,000.00 of the Loan to the following account designated by Party B:

 

 

 

	Account Name:	GreenChek Technology Inc.
	Bank:	Bank of Montreal
	Swift No.: 	BOFMCAM2
	Bank Account No.:	0004 4632148

 

 

Party B shall not use such Loan for any purposes in violation of Hong Kong laws and regulations, otherwise Party A may at any time require Party B to repay the Loan.  All subsequent amounts will be on an as need basis and not to exceed more than USD 10,000.00 at any given time.

 

  

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ARTICLE III

PARTY B's REPRESENTATIONS AND WARRANTIES

Party B hereby represents and warrants to Party A that:

2.1. Party B is a legal incorporated company of the State of Nevada, USA, has all the necessary rights, power and capability to enter into and perform all the duties and obligations hereunder, and that this Agreement shall be binding upon Party B after the execution hereof.

2.2. Party B will resolve appropriately any issues not covered hereunder in conjunction with Party A in accordance with relevant Chinese laws and policies.

ARTICLE IV

PARTY A's REPRESENTATIONS AND WARRANTIES

3.1. Party A is a limited liability company established and existing under the laws of Hong Kong, has all the necessary rights, power and capability to enter into and perform all the duties and obligations hereunder, and that this Agreement shall be binding upon Party A after the execution hereof.

3.2. Party A will resolve appropriately any issues not covered hereunder in conjunction with Party B in accordance with relevant Chinese laws and policies.

ARTICLE V

CONFIDENTIALITY

Without written consent of the other party, neither Party shall disclose to any third parties this Agreement or any information disclosed by any Party hereto during the performance of this Agreement, except such disclose is necessary for compliance with relevant laws and regulations, court rules and/or governmental or regulatory or stock exchange rules; unless such information become public known not as a result of violation of this Article 5.1.

ARTICLE VI

WAIVER

4.1. No waiver of any breach hereof or failure of any Party in exercising any power or right hereunder shall operate as a waiver of other breach or further breach hereof, nor waiver of all the power or right hereunder.

4.2. Any delay of any Party in exercising any power or right hereunder shall operate as a waiver thereof.

 

ARTICLE VII

 

  

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SEVERABILITY

 

If any provision of this Agreement shall be held invalid, illegal or unenforceable in any respect under any Chinese laws and regulations, such invalidity, illegality or unenforceability shall not affect any other provision hereof.

ARTICLE VIII

ENTIRE AGREEMENT

5.1. This Agreement contains all the agreement and understanding between the Parties with respect to the Loan.

5.2. This Agreement shall supersede all prior agreements, understandings, letter of intent, documents or communications between both Parties or their representatives and advisors relating to the Loan. Neither Party shall bring forward any claims against the other Party by reference to such superseded agreements, understandings, letter of intent, documents or communications.

5.3. No amendment to this Agreement or any provisions hereof shall be effective unless it shall be agreed in writing by both Parties.

ARTICLE IX

TAXES, FEES AND EXPENSES

Any and all taxes, fees and expenses that are payable as a result of the Loan shall be solely borne by the Party exercising its rights hereunder, unless either Party A or Party B has been expressly required to pay the same under applicable law or this Agreement.

ARTICLE X

BREACH

6.1. Failure by any of Party A or Party B in performing its obligations hereunder shall constitute a breach of this Agreement.

 

  

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6.2. The Party in breach of this Agreement shall indemnify the other Party for all economic damages suffered as a result of such breach.

6.3. If this Agreement or any portion hereof cannot be performed due to negligence of any Party hereto, such Party shall be held liable for breach, and the other Party shall have the right to terminate this Agreement. If both Parties have negligence, each of Party A and Party B shall take respective responsibilities to the extent of loss and damage.

 

ARTICLE XI

GOVERNING LAW

The formulation, validity, interpretation, performance, amendment and termination of this Agreement and resolution of dispute shall be governed by the relevant laws of Hong Kong.

ARTICLE XII

DISPUTE RESOLUTION

Any dispute arising out of or in connection with this Agreement shall be settled by friendly discussions and, failing such a settlement within 30 days upon notice by any Party hereto asking for negotiations, both Parties agree that such dispute shall be referred to and finally resolved by arbitration in Hong Kong before the Hong Kong International Economic and Trade Arbitration Commission pursuant to the then effective arbitration rules thereof. The arbitration award shall be final and binding on both Parties.

ARTICLE XIII

DISPUTE RESOLUTION

This Agreement shall be signed in four counterparts, each of Party A and Party B shall hold two thereof, with the same legal effect, and shall become effective after being signed by both Parties.

 

  

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SIGNATURE PAGE

IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first written above in Hong Kong.

Party A: Gold Spread Trading Limited.

Authorized Representative: Yu Qin for Asia Success Holdings Limited

(Signature) “Yu Qin”

Party B: GreenChek Technology Inc.

Authorized Representative: Xin Wang

(Signature)  “Xin Wang”

 

 

5f10k2010ex10xv_greenchek.htm

Exhibit 10.15

 

BUSINESS ADVISORY AND FINANCIAL CONSULTING SERVICES AGREEMENT

This Business Advisory and Financial Consulting Services Agreement (the “Business Agreement”), is entered into and effective as of the 1st day of March, 2010 by and between Antoinette Boquiren (hereinafter referred to as the “Business Consultant”) and GreenChek Technology Inc. a Nevada incorporated company (hereinafter referred to as the “Corporation”), (collectively referred to herein as the “Parties”).

Preliminary Statement: The Corporation desires to be assured of the association and services of the Business Consultant in order to avail itself of the Business Consultant's experience, skills, abilities, knowledge, and background to facilitate long range strategic planning, and to advise the Corporation in business and/or financial and merger/acquisition matters and is therefore willing to engage Business Consultant upon the terms and conditions set forth herein. Business Consultant desires to be assured, and Corporation desires to assure Business Consultant, that, if Business Consultant associates with Corporation and allocates its resources necessary to provide Corporation with its business advisory and consulting services, Business Consultant will be paid the consideration described herein and said consideration will be non refundable, regardless of the circumstances.

Business Consultant agrees to be engaged and retained by Corporation for a period of six months subject to the terms and conditions set forth herein.

NOW, THEREFORE, in consideration of the foregoing, of the mutual promises hereinafter set forth and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereto agree as follows:

1. Engagement. Corporation hereby engages Business Consultant on a non-exclusive basis, and Business Consultant hereby accepts the engagement to become a business and financial Consultant to Corporation and to render such advice, consultation,information, and services to the Directors and/or Officers of Corporationregarding general financial and business matters including, but not limited to the following:

1.1 Advice and Counsel. Business Consultant will provide advice and counsel regarding Corporation's strategic business plans, strategy and negotiations with potential business strategic partnering, corporate planning and or other general business consulting needs as expressed by Corporation. 

 

a) Business Consultant will review and assess various financing strategies and solutions with Corporation. Business Consultant will help Corporation determine desirable financing amounts, terms, and structure.

Business Consultant will assist Corporation in determining Corproation's proper capital structure. The services which are contemplated under this Agreement shall not relate in any way to the offer or sale of securities in any capital-raising transaction and shall not directly or indirectly promote or maintain a market

for the Corporation's securities. None of the services contemplated under this Agreement shall relate in any way to the raising of

capital, promotion of the Corporation's securities or investor relations.

 

  

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Business Consultant will provide general advice and counsel to Corporation regarding the structuring of its business. At Corporation's request, Business Consultant is available to be materially involved in negotiating acquisition terms and structure, and assisting with due diligence and documentation (see Section 1.3 for additional details and compensation structure).

Business Consultant will assist Corporation in the development and/or refinement of the strategic growth plan for the next six (6) months and related communications materials.

Business Consultant will assist Corporation with corporate governance structure involving Corporation's Board of Directors and committees. Business Consultant will also assist with the development and implementation of management and director compensation programs.

Business Consultant will assist Corporation in determining the short-term and long-term requirements for Corporation's financial reporting function.

1.2 Corporation Transaction Due Diligence. Business Consultant will participate and assist Corporation in the due diligence process, where possible, on all proposed financial transactions affecting Corporation of which Business Consultant is notified in writing in advance, including conducting investigation of and providing advice on the financial, valuation and stock price implications of the proposed transaction(s).

1.3 Mergers and Acquisitions. Business Consultant will provide assistance to Corporation, as mutually agreed, in introducing and/or assisting Corporation in identifying, acquiring, merging, and/or divesting on a non-exclusive basis, from time to time, as Consultant deems appropriate in its sole discretion, assisting in due-diligence, recommending transaction terms and providing advice and assistance during negotiations, as needed. It is expressly understood that Consultant shall have no power to bind Corporation to any contract or transaction obligation.

Business Consultant will introduce and/or assist the Corporation with one or more parties who might be interested in (whether by way of merger, consolidation, asset purchase, technology license, or substantially similar transaction) either, (a) acquiring some or all of Corporation's assets or, (b) selling some or all of their own assets to Corporation and/or, (c) entering into some form of strategic alliance with Corporation. Specifically, Business Consultant is available to assist Corporation with the review of target company financials and due diligence, and with the proposed valuation and structure of acquisitions. At Corporation's request, Business Consultant will act as Corporation's agent and sponsor in negotiations with acquisition targets, demonstrating to target companies that Corporation has the support of Business Consultant as Corporation pursues growth and development plans and strategies. Business Consultant is also available to assist Corporation with the documentation of transactions, including letters of intent, definitive agreements, and other closing documents.

 

  

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If Business Consultant is materially involved in a completed transaction with a company introduced BY Corporation, Corporation agrees to pay Business Consultant five percent (5%) of the total value of the transaction in the same ratio of cash and/ or stock as the transaction. "Total value" shall include, but is not limited to cash, cash equivalents, stock, and the value of any consideration other than cash paid or received by Corporation. If Business Consultant is materially involved in a completed transaction with a company introduced BY Business Consultant, Corporation agrees to pay Business Consultant eight percent (8%) of the total value of the transaction in the same ratio of cash and / or stock as the transaction.

1.4 Additional Duties. Corporation and Business Consultant shall mutually agree, in writing, for any additional duties that Business Consultant may provide to Corporation for compensation paid or payable by Corporation under this Agreement. Although there is no requirement to do so, such additional agreement(s) may be attached hereto and made a part hereof by written amendments to be listed as "Exhibits" beginning with "Exhibit A" and initialed by both parties.

2. Compensation to Business Consultant.

2.1 Advisory Fee. As express consideration for Business Consultant entering into this Agreement and for the business advisory and financial consulting services to be performed herein, Corporation shall issue a fee of 3,500,000 restricted common shares due upon execution of this agreement.

 

2.2 The Corporation shall pay or reimburse Business Consultant for all reasonable, documented out-of-pocket expenses incurred by Business Consultant in performing Advisory Services (including, but not limited to, reasonable travel, hotel and meal expenses incurred by Business Consultant's employees and representatives in connection with the performance of Advisory Services and in accordance with the Business Consultant's applicable travel and expense policies). Business Consultant may invoice the Corporation periodically for all such expenses incurred, which invoice shall be accompanied by reasonable documentation of all expenses then being invoiced, and the Corporation shall pay Business Consultant the amount of such invoice within ten (10) days of the receipt of such invoice.

IN WITNESS WHEREOF, this Business Advisory and Financial Consulting Services Agreement has been duly executed by the parties this 1st day of March 2010.

Corporation:

Signed By:    /s/ Lincoln Parke              

GREENCHEK TECHNOLOGY INC.

Business Consultant:

Signed By:    /s/ Antoinette Boquiren            

ANTOINETTE BOQUIREN

 

 

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