Document:

Exhibit 10.1

 

ATEL
16, LLC ESCROW AGREEMENT

____________,
2013

 

U. S. Bank,
National Association

San Francisco,
California

 

Gentlemen:

 

ATEL
16, LLC, a California limited liability company (the “Fund”), proposes to make a public offering through ATEL Securities
Corporation (the “Dealer Manager”) and other registered broker-dealers (the “Selected Dealers”) of not
to exceed

15,000,000 of
its units of limited liability company member interest (the “Units”) at $10 per Unit. The offering shall be conducted
on a best-efforts all-or-none basis for the first 120,000 Units and thereafter on a best-efforts basis for the remaining Units.
The offering shall commence at such time as the Fund’s registration statement on Form S-1 with respect thereto (the “Registration
Statement”) is declared effective by the Securities and Exchange Commission (“SEC”) which is currently expected
to occur on or about __________,

2013. We
are requesting that you consent to act as Depository in connection with the offering.

 

U.S.
Bank, National Association (“you” or “Depository”) shall receive, hold in escrow and disburse subscription
funds in accordance with the terms and conditions set forth in this letter and in the “Plan of Distribution” section
of the prospectus included in the Registration Statement, as amended or supplemented (such prospectus in the form first filed with
the SEC pursuant to Rule 424 under the Securities Act of 1933, as amended, and any supplement or amendment to such prospectus thereafter
so filed pursuant to such Rule 424 are hereinafter collectively called the “Prospectus”).

 

Upon
request of ATEL Managing Member LLC (the “Manager”) or the Dealer Manager, you shall provide reports to the Fund and
the Dealer Manager as to the number and amount of subscriptions received by you.

 

The terms
and conditions of your engagement as Depository shall be as follows:

 

1.
On or before the date of commencement of the offering you shall establish an interest-bearing escrow account which shall be entitled
“ATEL 16 Escrow Account” (the “Escrow Account”). The Dealer Manager will comply with Rule 15c2-4 under
the Securities Exchange Act of 1934, as interpreted in NASD Notice to Members 84-64, which requires that during the escrow period
checks be transmitted by the Dealer Manager to you as escrow agent as soon as practicable, but in any event by noon of the second
business day following receipt by the Dealer Manager. The Dealer Manager and Selected Dealers shall instruct subscribers to make
checks payable to the order of U.S. Bank, National Association by designating the payee as “U.S. Bank – ATEL 16 Escrow.”
You shall return any checks received that are made payable to a party other than the Depository to the Dealer Manager or Selected
Dealer who submitted the check.

 

2.
The Dealer Manager and the Selected Dealers shall promptly deliver all monies received for the payment of Units to the Depository
for deposit in the Escrow Account. You shall receive and hold deposits of subscription funds in the amount of $10 per Unit. The
minimum subscription shall be 500 Units ($5,000), subject, however, to such higher minimum subscriptions as are described in the
Prospectus as being applicable in certain circumstances. Each deposit shall be accompanied by a Subscription Agreement in the form
of that attached as Exhibit C to the Prospectus identifying by name and address the subscriber whose funds are deposited and the
amount of the funds deposited by such subscriber.

 

3.
Deposits in the form of checks which fail to clear the bank upon which they are drawn shall be returned by the Depository to the
subscriber, together with the copy of the Subscription Agreement. You shall concurrently furnish to the Manager and the Dealer
Manager a copy of any such Subscription Agreement and check so returned. The Depository shall have no further liability therefor.

 

If
the Fund rejects any subscription for which the Depository has already collected funds, the Depository shall promptly issue a refund
check to the rejected subscriber. If the Fund rejects any subscription for which the Depository has not yet collected funds but
has submitted the subscriber’s check for collection, the Depository shall promptly issue a check in the amount of the subscriber’s
check to the rejected subscriber after the Depository has cleared such funds. If the Depository has not yet submitted a rejected
subscriber’s check for collection, the Depository shall promptly remit the subscriber’s check directly to the subscriber.

 

4.
You shall place funds from the Escrow Account only in the following interest-bearing accounts and short-term obligations as the
Fund shall direct: short-term United States government securities, including Treasury bills, securities issued or guaranteed by
United States government agencies, certificates of deposit and time or demand deposits in banks and savings and loan associations
which are insured by United States government agencies or deposits in members of the Federal Home Loan Bank System; provided, however,
that you shall not be required to place any such funds in a manner which is inconsistent with the Prospectus. In the absence of
express instructions, you will invest such funds, to the extent reasonably practicable, in a U. S. Bank Money Market Account insured
by the FDIC. As Depository you shall not be liable for any loss of interest in the event funds are withdrawn prior to maturity.
Interest accrued on subscription funds held in the Escrow Account shall not be an asset of the Fund, but shall either (i) be paid
to the respective
subscribers upon return of subscription proceeds to subscribers pursuant to paragraph 5 of this Agreement in the event the Minimum
Subscriptions (as defined in paragraph 5) are not received prior to termination of the offering); or (ii) be paid to the Fund upon
release of subscription proceeds to the Fund for disbursement by the Fund to subscribers, in
either case to be divided among the subscribers on a pro rata basis according to the respective numbers of days between the time
of deposit of their payments into the Escrow Account and the release of such payments to the Fund or the return thereof to the
subscribers, and in either case with the amounts of interest
allocated among subscribers to be calculated by the Manager.

 

    	 

    	 

    

 

During
the escrow period, the proceeds from the Fund’s offering are not subject to claims by creditors, the Fund, the Fund’s
affiliates, you as the escrow agent, or Selected Dealers unless and until the proceeds have been released to the Fund pursuant
to the terms of this Agreement.

 

5.
If and at such time as amounts in collected funds representing subscriptions for not less than 120,000 Units shall have been deposited
with you under this Agreement (the “Minimum Subscriptions”), you shall so notify the Manager and the Dealer Manager
and upon receipt of written instructions from each of the Fund and the Dealer Manager, you shall disburse to the Fund all subscription
funds held by you. If the offering is terminated prior to receipt of collected funds representing the Minimum Subscriptions, or
if collected funds representing the Minimum Subscriptions have not been received on or before the date which is one year from the
date that the Registration Statement is declared effective by the SEC, you shall promptly disburse all subscription funds to the
subscribers who transmitted them without deduction, penalty or expense to the subscriber, and you shall advise the Fund and the
Dealer Manager that you have done so. The subscription funds returned to each subscriber shall be free and clear of any and all
claims of the Fund or any of its creditors. In any case, all interest earned on subscription proceeds held by you shall be disbursed
to subscribers as provided in paragraph 4, with the Manager providing the Depository with the calculation of interest payable to
each subscriber. After all disbursements under this Agreement have been completed, the escrow shall be terminated; provided, however,
that an agreement with a branch of Depository will be effective upon escrow holder notifying the branch that the Minimum Subscriptions
have been reached and escrow is closed. The branch will agree to facilitate transfers of subscription funds to the Fund in the
event subscribers make checks payable to the Depository after the date Minimum Subscriptions have been received. The branch’s
sole function in such event shall be to endorse any such subscription checks to the account of the Fund.

 

For
purposes of the foregoing, the term “collected funds” shall mean all funds received by the Depository which have cleared
normal banking channels and are in the form of cash.

 

Notwithstanding
the foregoing, any and all subscription proceeds from Pennsylvania investors deposited with the Depositary will be maintained in
a separate escrow account entitled “ATEL 16 Pennsylvania Escrow Account.” The terms of the escrow for Pennsylvania
subscriptions will be the same as provided for all subscription proceeds under this Agreement, except as expressly stated in the
following paragraphs.

 

The
amount of subscription proceeds held in the Pennsylvania Escrow Account will not be counted in determining the Minimum Subscriptions
defined above in this Section 5, unless the Pennsylvania Minimum (as defined below) is reached prior to the date that the amount
of the Minimum Subscriptions is received from non-Pennsylvania subscribers. The funds in the Pennsylvania Escrow Account will be
retained in such account, and will not be released to the Fund upon the release of other escrowed funds at the time the Minimum
Subscriptions are reached under the Agreement unless the conditions for release of Pennsylvania subscriptions set forth in this
paragraph are first satisfied. If and at such time as the Fund and the Dealer Manager deliver to the Depositary a certificate,
together with any other documentation that the Depositary may reasonably require, which demonstrates that the Fund has received
a total amount in collected funds which, when added to the total amount held in the Pennsylvania Escrow Account, represent aggregate
subscriptions for not less than 750,000 Units (the “Pennsylvania Minimum”), and upon receipt of written instructions
from each of the Fund and the Dealer Manager, the Depositary shall disburse to the Fund all subscription funds held in the Pennsylvania
Escrow Account.

 

If
the offering is terminated prior to receipt of collected funds representing the Pennsylvania Minimum, or if collected funds representing
the Pennsylvania Minimum have not been received on or before the date which is 120 days after the date hereof, the Fund and the
Dealer Manager will notify each Pennsylvania investor whose subscription proceeds are held in the Pennsylvania Escrow Account within
10 calendar days following the end of such period that such investor has the right to have the escrowed subscription proceeds returned
to the investor by notifying the Depositary that such return is desired within 10 calendar days after receipt of such notification
of the right to such return. The subscription proceeds held for investors so requesting a return, together with any interest accrued
thereon, will be promptly forwarded to such investors, but in no event later than 15 calendar days following receipt by the Depositary
of the notice requesting such return.

 

Any
subscription proceeds from Pennsylvania investors which remain in the escrow after the expiration of the periods described in the
foregoing paragraph will be held until the earlier of the satisfaction of the Pennsylvania Minimum condition or the termination
of the offering; provided that at the end of each subsequent 120-day period of the escrow, the investors whose subscription proceeds
remain in the escrow will be offered the return rights described in the foregoing paragraph; and provided further that, if the
Pennsylvania Minimum is not satisfied within one year from the date that the Registration Statement is declared effective by the
SEC, the Depositary shall promptly disburse all subscription funds in the Pennsylvania Escrow Account to the subscribers who transmitted
them without deduction, penalty or expense to the subscriber, and the Depositary shall advise the Fund and the Dealer Manager that
the Depositary has done so. Any such disbursements to Pennsylvania investors will be on the same terms as all disbursements under
this Agreement.

 

    	 

    	 

    

 

6.
All fees, costs, and charges of the Depository shall be paid by the Fund. Escrow fees shall be as set forth in Exhibit A hereto.
No fees, costs, charges, indemnification for damages suffered by the Depository or any monies whatsoever shall be paid out of or
chargeable to the funds on deposit in the Escrow Account.

 

7.
The Fund and the Dealer Manager hereby represent and warrant that neither they nor any of their affiliates has made, nor will any
such person make, any representation which might imply that you in any way endorse or recommend an investment in Units or guarantee
any obligations relating to the Units except those expressly undertaken as Depositary under this Agreement.

 

In
consideration of your acting as Depository herein, it is agreed that you shall in no case or event be liable for the failure of
any of the conditions of this Agreement or damage caused by the exercise of your discretion in any particular manner, or for any
other reason, except gross negligence or willful misconduct with reference to the Escrow Account, and you shall not be liable or
responsible for your failure to ascertain the terms or conditions, or to comply with any of the provisions of, any agreement, contract
or other document filed herewith or referred to herein, nor shall you be liable or responsible for forgeries or false impersonation.

 

It
is further agreed that if any controversy arises between the parties hereto or with any third person with respect to the subject
matter of this Agreement, or its terms or conditions, you are entitled at your option to refuse to comply with any claim or demand,
so long as such controversy continues and in so doing you shall not be or become liable for damages or interest to any party for
your failure or refusal to comply with any conflicting or adverse demands. You shall be entitled to continue so to refrain and
refuse so to act until:

 

A. The rights
of the adverse claimants have been finally adjudicated in a court assuming and having jurisdiction of the parties and the money,
papers and property involved herein or affected hereby; and/or

 

B. All differences
shall have been adjusted by agreement and you shall have been notified thereof in writing by all of the persons interested.

 

In
the event of any such controversy, you, in your discretion, may file a suit in interpleader for the purpose of having the respective
rights of the claimants adjudicated, and deposit with the court all documents and property held hereunder, and the Fund agrees
to pay all costs and counsel fees incurred by you in such action and said costs and fees shall be included in the judgment in any
such action.

 

You
shall not be required to take or be bound by notice of any default of any person, or to take any action with respect to such default
involving any expense or liability, unless notice of such default is given to you in writing by the Manager and unless you are
indemnified in a manner satisfactory to you against such expense or liability.

 

You
shall be protected in acting upon any notice, request, waiver, consent, receipt or other paper or document reasonably believed
by you to be signed by the proper party or parties.

 

You
may consult with legal counsel if any controversy arises, and you shall incur no liability and shall be fully protected in acting
in accordance with the opinion and instructions of counsel.

 

In
the event that you perform any service not specifically provided hereinabove, or there is any assignment or attachment of any interest
in the subject matter of this Agreement or modification thereof, or any controversy arises hereunder, or you are named a party
to, or are required to intervene in, any litigation pertaining to this escrow or the subject matter thereof, you shall be reasonably
compensated therefor and reimbursed for all costs and expenses, including attorney’s fees, occasioned thereby.

 

8.
The Fund, the Manager and the Dealer Manager represent and agree that none has made nor will any of them in the future make any
representation that states or implies that the Escrow Agent has endorsed, recommended or guaranteed the purchase, value, or repayment
of the Units offered for sale by the Fund. The Fund further agrees that it will insert in any prospectus, offering circular, advertisement,
subscription agreement or other document made available to prospective purchasers of the Units the following in bold face type:
“U.S. Bank National Association is acting only as an escrow agent in connection with the offering of the Units, and has not
endorsed, recommended or guaranteed the purchase, value or repayment of such Units”, and will furnish to the Escrow Agent
a copy of each such prospectus, offering circular, advertisement, subscription agreement or other document at least 5 business
days prior to its distribution to prospective purchasers of the Securities”.

 

9.
The Depository may resign upon the giving of 30 days’ written notice to the Manager and the Dealer Manager. The Depository
may be removed by the Manager and the Dealer Manager, acting jointly, upon 30 days’ prior written notice to the Depository.
In such event, it shall be the obligation of the Manager, with the consent of the Dealer Manager, to appoint a successor Depository.
The Depository shall turn over to such successor, at the direction of the Fund, all funds, accounts and records held by the Depository
pursuant to this Agreement.

 

    	 

    	 

    

 

Any
change in the aforesaid terms and conditions shall require the consent of the Dealer Manager. In the event that any questions arise
as to the interpretation of such terms and conditions, you shall be authorized to rely upon telegraphic or written instructions
from the Dealer Manager and the Manager.

 

If
you consent and agree to act as Depository on the terms and conditions set forth above, please so signify by causing a duly authorized
officer or employee to sign the enclosed copy of this letter as indicated below and return it to the undersigned, whereupon the
terms and conditions of this letter shall constitute an agreement between us. This agreement may be signed in separate counterparts,
each of which when so executed and delivered shall be an original for all purposes, but all such counterparts shall constitute
one and the same instrument.

 

	 	Very truly yours, 
	 	 	 
	 	ATEL 16, LLC,
	 	a California limited liability company
	 	 	 	 	 
	 	By:	ATEL Managing Member, LLC, Manager
	 	 	 	 	 
	 	 	By:  	ATEL Capital Group, LLC
	 	 	 	 	 
	 	 	 	By:  	 
	 	 	 	 	Vasco Morais
	 	 	 	 	Executive Vice President
	 	 	 	 	 
	 	ATEL SECURITIES CORPORATION,
	 	a California corporation, Dealer Manager
	 	 	 	 	 
	 	 	By:  	 
	 	 	 	Vasco Morais
	 	 	 	Executive Vice President

 

We hereby consent to act as Depository
on the terms and conditions set forth above. Executed this ____ day of ______, 2013.

 

U. S. Bank, National Association

One California St., Suite 1000

San Francisco, CA 94111

 

	By:  	 	 
	 	[Name of Trust Officer]	 
	 	Trust Officerex10-1.htm

EXHIBIT 10.1

 

Agreement no.: (Hydrogen)201130503001

 

Lease Agreement

 

Lessor: Turbine Truck Engines Inc., of the USA (referred to as “Party A”) Parties of the lease:

 

Lessee: Fujian Xinchang Leather Company Limited (Referred to as “Party B”)

 

Lessee and guarantor:                                         (referred to as “Party C”)

 

Both parties agree to the following terms and conditions regarding Party B leasing a hydrogen boiler combustion equipment system:

 

	
Article I

	
Object of the lease

 

	  	
I.

	
Party A agrees to provide Party B a clean energy hydrogen fuel-powered system (referred to as the “Lease Object” or “Equipment”), Party B will pay the rent according to the terms and conditions of this Lease Agreement.

	  	  	  
	  	
II.

	
The relevant specifications of the Lease Object are as follows:

 

	
Description

	
Unit price

	
Quantity

	
Total

	
Hydrogen boiler combustion equipment system 200 Nm3/hr

	
4.8 million

	
1

	
4.8 million

 

	  	
III.

	
If the Equipment system needs to be changed, the cost will be counted additionally (this quotation amount includes Lease Object’s 30m standard construction).

	  	  	  
	  	
IV.

	
Party B will be responsible for other consumables and necessary catalysts.

	  	  	  
	  	
V.

	
Unless Party A agrees otherwise, Party B shall purchase and use the methanol provided by Party A to ensure safe and effective operation of the Equipment. Otherwise, Party A cannot provide maintenance or warranty of the Equipment.

 

Article II Lease Period

	  	  	  
	  	
I.

	
The Lease period will run from Year___Month___Day___ to Year___Month___Day___, a total of ___ years. From the seventh year, if Party B does not forgo the Lease, the Lease will renew on a yearly basis, and both parties agree not to have a new Lease Agreement. If Party B terminates the Lease before the Lease expires, a 30-day notice shall be given before the proposed termination date.

	  	  	  
	  	
II.

	
If Party B terminates the Lease within the first 6 years of the Lease period, the lease agreed upon to be paid to Party A will not be refunded, and Party A is entitled to confiscate the entire performance bond paid by Party B.

 

Article III Rent and moving cost

	  	  	  
	  	
I.

	
The rent will be paid on a monthly (quarterly) basis; in the first year, each month (quarter) RMB _______Yuan (80% of the approved energy efficiency amount); in the second year, each month (quarter) RMB _______Yuan (70% of the approved energy efficiency amount); in the third year, each month (quarter) RMB _______Yuan (60% of the approved energy efficiency amount); in the fourth year, each month (quarter) RMB _______Yuan (50% of the approved energy efficiency amount); in the fifth year, each month (quarter) RMB _______Yuan (40% of the approved energy efficiency amount); in the sixth year, each month (quarter) RMB _______Yuan (30% of the approved energy efficiency amount);

 

  

Page 1 of 4

  

 

Agreement no.: (Hydrogen)201130503001

	  	  	  
	  	  	
Party B shall not delay or refuse to pay any rent for any reason. From the seventh year, only the maintenance fee will be charged, each year, RMB _______ Yuan (15% of the approved energy efficiency amount); Party B agrees to pay RMB 1 million Yuan as performance bond after Party A has completed the installation and when the lease starts (when the fuel is switched to natural gas, the monthly energy consumption is estimated to be RMB 400,000 Yuan, the yearly number will be 4.8 million Yuan, 40% of energy saving will be 1.92 million Yuan).

	  	  	  
	  	
II.

	
The performance bond will be returned without interest once the lease expires if there is no default, no termination before the term expires, no fees owed to Party A; if Party B owes any rent or relevant fees, Party A agrees that the outstanding fee may be deducted from the performance bond. A default is deemed to have occurred when two consecutive payments are in default; in that case, Party A is entitled to confiscate the entire performance bond paid by Party B.

	  	  	  
	  	
III.

	
During the term of the lease, Party B shall inform Party A in writing thirty (30) days in advance should Party B intend to move the Lease Object to a different location, Party B shall be responsible for the moving cost, and the rent shall be paid without interruption.

 

Article IV Rent payment method

	  	  	  
	  	
I.

	
Party B starts paying monthly rent after Party A has completed the installation and the energy efficiency is proved after inspection.

	  	  	  
	  	
II.

	
Party B shall pay the monthly rent before the 3rd day of each month; each payment is for one month’s rent. Party B shall not delay the payment for any reason. The first payment is calculated based on the actual number of days if it is not a complete month.

 

Article V Return of the Lease Object

	  	  	  
	  	  	
If Party B defaults or terminates the Agreement before the Lease expires, Party B shall return the Lease Object to Party A in the condition it was received unless otherwise agreed to by Party A without any excuses or claiming any rights; if the Lease Object is not returned, Party A is entitled to charge Party B a monthly fee five times the monthly rent until the Object is returned, and the performance bond will be confiscated by Part A as well, to which Party B and its guarantor (Party C) will not object.

 

Article VI Purchasing Lease Object

	  	  	  
	  	  	
If Party B proposes to purchase the Lease Object during the lease term, with Party A’s consent both parties shall negotiate the purchasing price of the Lease Object and will sign a Purchase Agreement.

 

Article VII Sub-lease and change of use of the Lease Object

	  	  	  
	  	
I.

	
Without the prior consent from Party A, Party B shall not lend or sublet to pay off the Lease Object or allow others to use the Lease Object in another manner.

	  	  	  
	  	
II.

	
Party B shall not arbitrarily change, alter, or damage the Lease Object or its related equipment.

	  	  	  
	  	
III.

	
Party B shall not illegally use the Lease Object so as to interfere with public safety.

	  	  	  
	  	
IV.

	
If any of the above occurs, Party A is entitled to retake the Lease Object and confiscate the performance bond, to which Party B shall not object.

	  	  	  
	  	
V.

	
The ownership of the Lease Object during the lease term belongs to Party A.

 

  

Page 2 of 4

  

Agreement no.: (Hydrogen)201130503001

 

Article VIII Repair and maintenance of the Lease Object

 

	
  

	
I.

	
Party B shall exercise reasonable good care in using the Lease Object. Party B shall pay for any damages caused to the Lease Object due to party B’s negligence unless the damages are caused by force majeure. Party A shall be responsible for any repairs to the Lease Object due to non-human but natural causes. If the damage is caused by human, non-natural causes, Party B shall pay Party A for the relevant repairs and maintenance. Party A authorizes Taiwan Energy Saving Technology Company to be the management company for Party A and to be responsible for installation, repairs and maintenance of the lease equipment, and to collect rent on behalf of Party A.

 

Article IX Confidentiality terms

 

	
  

	
I.

	
Any trade secrets obtained by either Party A or Party B related to the Agreement during the term of the Lease are for the purpose of the performance of the Agreement only and shall not be authorized, permitted, or assigned; trade secrets are not limited to written documentation only.

 

	
  

	
II.

	
The party receiving the trade secrets shall exercise reasonable good care to maintain the confidentiality of such secrets and take all reasonable measures to prevent unauthorized persons from accessing the trade secrets to prevent any unauthorized disclosure.

 

	
  

	
III.

	
Employees of the receiving party of the trade secrets shall receive such confidential information only when it is necessary for the performance of the Agreement and shall sign a Confidentiality Agreement with the disclosing party; the receiving party shall not disclose, deliver, or otherwise disclose the confidential trade secrets to any third parties.

 

Article X Default penalties

 

	
  

	
I.

	
If Party B defaults, as a result, Party A’s interests are damaged; Party B shall pay for all the damages caused to Party A. Should the parties incur litigation or legal fees, such fees shall be Party B’s responsibilities.

 

	
  

	
II.

	
Party A, Party B, and Party C shall abide by the terms and conditions of the Agreement. When default occurs, Party A is entitled to take back the Lease Object at any time, Party A will not be responsible for any losses incurred this way.

 

Article XI Party C’s joint and several liabilities

 

	
  

	
 

	
Party C shall be jointly and severally responsible for any default of Party B or if Party B defaults on paying the rent, or if Party B damages the Lease Object, and so on, Party C shall give up the plea rights.

 

Article XII Applicability of the Agreement

 

	
  

	
I.

	
The Appendices, orders, and other documents constitute part of this Agreement. If there is a conflict between such documents and this Agreement, the terms and conditions of this Agreement prevail.

 

	
  

	
II.

	
Any amendments, alterations, or additions and deletions to this Agreement are not binding upon Party A unless signed by both parties.

 

	
  

	
III.

	
This Agreement is governed by the laws of the Republic of China.

 

	
  

	
IV.

	
Anything covered by this Agreement is governed by this Agreement; anything not covered by this Agreement is governed by the laws of the Republic of China.

 

Article XIII Jurisdiction

 

Both parties agree to settle any doubts, arguments, or disputes arising from this Agreement in the principal of good faith; if litigation occurs, both parties agree that the Taipei Local court will be the court of first instance to hear the proceedings.

 

  

Page 3 of 4

  

Agreement no.: (Hydrogen)201130503001

 

Article XIV Delivery of Notice

 

Any written notices or summons under this Agreement shall be delivered to the addresses recorded in this Agreement; if one party’s address changes, it shall inform the other party in writing before it becomes effective. Such documents are deemed to be delivered on the date the postage is paid if delivered to the addresses on record as well as if nobody accepts them, refuses to accept them, overdue, or under other circumstances where documents cannot be delivered.

 

There are two copies to this Agreement, Party A and Party B each holding one. Stamp duty will be paid by each party respectively.

 

	 	Parties to the Agreement:	 	 	 
	 	 	 	 	 
	  	
Party A:

	
Turbine Truck Engines Inc., of USA

	
(stamp)

	  
	  	  	  	  	  
	  	
Person in charge:

	
Michael Rouse

	  	  
	  	  	  	  	  
	  	
Address:

	
46600 Deep Woods Road, Paisley, Florida 32767 USA

	  
	  	  	  	  	  
	  	
Telephone:

	
+1 (386) 943-8358

	  	  
	  	  	  	  	  
	  	
Website:

	
www.ttengines.com

	  	  
	  	  	  	  	  
	  	
Party B:

	
Fujian Xinchang Leather Company Limited

	
(stamp)

	  
	  	  	  	  	  
	  	
Person in charge: 

	Zujun HONG  	  	  
	  	  	  	  	  
	  	
Address:

	
Xinchang Industrial Park, Yinglin Township, Jinjiang City, Fujian Province, China

	  	  	  	  	  
	  	
Telephone:

	
0592-5489988

	  	  

 

	  	
Party C:

	  	
(stamp)

	  
	  	  	  	  	  
	  	
Resident Identity Card no.:

	  	  
	  	  	  	  	  
	  	
Or universal number:

	  	  	  
	  	  	  	  	  
	  	
Address:

	 	  	  
	 	 	 	 	 
	 	 	Year                    Month                    Day 	 	 

  

Page 4 of 4

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