Document:

Unassociated Document

Exhibit 10.6

 

Agreement on Indemnities Transfer

 

——Domestic Trade Credit Insurance Policy

Endorsement No.: 31650020901011000002

Contract No.: 259653/11

This Agreement is entered into by the following parties:

The Insurant: Kunming Shenghuo Pharmaceutical (Group) Co., Ltd.

Address: No.2 Jing You Road, Kunming National Economy and Technology Developing District, Yunnan Province, China

The Indemnity Beneficiary: Bank of China, Yunnan Branch

Address: No.515 Beijing Road, Kunming City, Yunnan Province

The Insurer: China Ping An Insurance Company

Address: 6th Floor, Xinghe Development Centre Plaza, Fuhua Road, Futian District, Shenzhen City, China

All of the three parties have reached the provisions as below in accordance with article 28 under General Clause:

Transfer of Beneficiary’s Indemnities interest

1. The Insurant hereby transfers the beneficial interest for indemnities under the insurance policy No. 11650020901011000001 (hereinafter referred to as the insurance policy) to The Indemnity Beneficiary.

2. The Insurer agrees on the transfer and promises to pay all the indemnification under the insurance policy to The Indemnity Beneficiary, provided that the interest of the Third Party (whose right to indemnification surpasses that of the bank) will not be affected.

3. The Indemnity Beneficiary accepts this transfer and declares that it has full knowledge about the terms and conditions included in this insurance policy and agreed on them.

 

  

  

  

 

The Indemnity Beneficiary recognizes that its beneficial interest for indemnification will not surpass the beneficial interest of The Insurant, but, if The Insurer is entitled to propose the defenses of liability exemption, indemnification and failure in exercising liability against The Insurant, all of those defenses shall also be applicable to The Indemnity Beneficiary.

Under the condition that the accounts receivable claim of The Insurant has been transferred to The Indemnity Beneficiary simultaneously, The Indemnity Beneficiary hereby agrees that:

	
1-

	
The Indemnity Beneficiary agrees and accepts the following provisions: No. 11, 12,13,14,15 and 16 provisions under the Section 7of the General Clause, as well as No. 24 and 25 provisions under the Section 8 of the General Clause and provision No. 4 under the C.102 supplementary provision.

	
2-

	
The Indemnity Beneficiary can inform The Insurer instantly once it is aware of the occurrence of overdue debts. If The Indemnity claims against The Insurer, it is required to provide all written evidence relating to the debts, related documents with respect to the assignment of the debts, as well as submitting the <<Notice on the occurrence of overdue debts and the application for The Insurer’s involvement >> (please find the attached format).

The Insurer can deem the actions taken by The Insurant or The Indemnity Beneficiary during the course of interest assignment as mutually-recognized actions between The Insurant and The Indemnity Beneficiary.

4. Any dispute raised between the Insurant and the Indemnity Beneficiary would not affect the payment of compensation to the Indemnity Beneficiary as per provisions under this Agreement and Insurance Contract.

The Insurer agrees that this Agreement will not release itself from any of its obligations under the insurance policy.

Both The Insurant and The Indemnity Beneficiary agree that if the obligations regulated by the insurance contract have not been fulfilled, then The Insurer is entitled to not bearing the responsibility of indemnification.

5. The Indemnity Beneficiary has the right to know everything contained in the insurance policy, include but not limited to terms and conditions, endorsement and line of credit. If any of this insurance policy is changed, The Insurer shall inform The Insurant and also inform The Indemnity Beneficiary in written at the same time.

 

  

  

  

 

6. This Agreement is signed in triplicate and is valid for all of the debts included in this insurance policy and becomes effective on May 5, 2011 in Kunming City.

The Insured: Kunming Shenghuo Pharmaceutical (group) Co., Ltd.

(Seal)

The Indemnity Beneficiary: Bank of China, Yunnan Branch

(Seal)

The Insurer: China Ping An Insurance Company

(Seal)Unassociated Document

Exhibit 10.8

UNSECURED   PROMISSORY   DEMAND   NOTE

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR UNDER THE SECURITIES LAWS OF ANY STATE.  THESE SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT AND MAY NOT BE TRANSFERRED OR SOLD IN THE ABSENCE OF AN EFFECTIVE REGISTRATION OR OTHER COMPLIANCE UNDER THE ACT OR THE LAWS OF THE APPLICABLE STATE OR A "NO ACTION" OR INTERPRETIVE LETTER FROM THE SECURITIES AND EXCHANGE COMMISSION OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE ISSUER, AND ITS COUNSEL, TO THE EFFECT THAT THE SALE OR TRANSFER IS EXEMPT FROM REGISTRATION UNDER THE ACT AND SUCH STATE STATUTES.

FOR VALUE RECEIVED, Evetsco, Inc. (“Maker” or “Company”), having an office location at 644 South Alvey Drive, Mapleton, Utah, promises to pay One Thousand Dollars ($1,000.00) (“Principal Amount”), to Joseph Nemelka, at 159 South 975 West, Mapleton, Utah 84664 (“Holder”). This unsecured promissory demand note is dated May 6, 2011 and is not being collateralized by any asset of the Company or any equity interest in the Company.

Payments.  The Principal Amount and any interest on the Principal Amount shall be repaid on demand, upon Holder giving 30 days written notice to the Maker at the address of the Maker. In any event, if Holder does not make demand for payment on or before December 31, 2012, such date shall be considered as the date that demand is being made and payment of the Principal Amount and all accrued interest (collectively, the “Note”) shall be due 30 days thereafter.

Interest.  Interest shall commence on May 6, 2011 and shall be computed on the Principal Amount at a simple interest rate of five percent (5%) per annum until Principal Amount has been paid. Any payments made to reduce the Note shall first be applied towards accrued interest and when the accrued interest has been fully paid, the remaining balance of the payment shall be applied towards the Principal Amount.

Type and place of Payments.  Any and all payments shall be made in lawful money of the United States of America to the Holder, at the address of the Holder given herein, or such other location as the Holder shall advise the Maker in writing.

Default.  Upon the occurrence or during the continuance of any one or more of the events hereinafter enumerated, Holder may forthwith declare the Note and unpaid interest to be immediately due and payable, and such shall be immediately due and payable without presentation, demand, protest, notice of protest, or other notice of dishonor, all of which are hereby expressly waived by Maker, such events being as follows:

 

	 	
(a)

	
Default in the payment of the Note or any portion thereof when the same shall become due and payable, whether at maturity as herein expressed, or on demand of the Holder, unless cured within thirty-five (35) days after notice thereof by Holder to Maker.

	 	
(b) 

	
Maker shall file a voluntary petition in bankruptcy or a voluntary petition seeking reorganization.

	 	
(c)

	
At such time as the entire Board of Directors of the Company as constituted on May 6, 2011 shall resign or otherwise be replaced.

Attorneys’ Fees.  If this unsecured promissory demand note is placed with an attorney for collection, or if suit is instituted for collection hereof, then in such event, the Maker agrees to pay reasonable attorneys’ fees, costs, and other expenses incurred by Holder in Holder’s collection efforts.

Construction.  This Note shall be governed by and construed in accordance with the laws of the State of Utah.

Evetsco, Inc.

a Delaware Corporation

By: /s/ Joseph Nemelka                      

Joseph Nemelka, PresidentUnassociated Document

Exhibit 10.9

UNSECURED   PROMISSORY   DEMAND   NOTE

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR UNDER THE SECURITIES LAWS OF ANY STATE.  THESE SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT AND MAY NOT BE TRANSFERRED OR SOLD IN THE ABSENCE OF AN EFFECTIVE REGISTRATION OR OTHER COMPLIANCE UNDER THE ACT OR THE LAWS OF THE APPLICABLE STATE OR A "NO ACTION" OR INTERPRETIVE LETTER FROM THE SECURITIES AND EXCHANGE COMMISSION OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE ISSUER, AND ITS COUNSEL, TO THE EFFECT THAT THE SALE OR TRANSFER IS EXEMPT FROM REGISTRATION UNDER THE ACT AND SUCH STATE STATUTES.

FOR VALUE RECEIVED, Evetsco, Inc. (“Maker” or “Company”), having an office location at 644 South Alvey Drive, Mapleton, Utah, promises to pay Two Thousand Dollars ($2,000.00) (“Principal Amount”), to Joseph Nemelka, at 159 South 975 West, Mapleton, Utah 84664 (“Holder”). This unsecured promissory demand note is dated May 31, 2011 and is not being collateralized by any asset of the Company or any equity interest in the Company.

Payments.  The Principal Amount and any interest on the Principal Amount shall be repaid on demand, upon Holder giving 30 days written notice to the Maker at the address of the Maker. In any event, if Holder does not make demand for payment on or before December 31, 2012, such date shall be considered as the date that demand is being made and payment of the Principal Amount and all accrued interest (collectively, the “Note”) shall be due 30 days thereafter.

Interest.  Interest shall commence on May 31, 2011 and shall be computed on the Principal Amount at a simple interest rate of five percent (5%) per annum until Principal Amount has been paid. Any payments made to reduce the Note shall first be applied towards accrued interest and when the accrued interest has been fully paid, the remaining balance of the payment shall be applied towards the Principal Amount.

Type and place of Payments.  Any and all payments shall be made in lawful money of the United States of America to the Holder, at the address of the Holder given herein, or such other location as the Holder shall advise the Maker in writing.

Default.  Upon the occurrence or during the continuance of any one or more of the events hereinafter enumerated, Holder may forthwith declare the Note and unpaid interest to be immediately due and payable, and such shall be immediately due and payable without presentation, demand, protest, notice of protest, or other notice of dishonor, all of which are hereby expressly waived by Maker, such events being as follows:

 

	
(a)   

	
Default in the payment of the Note or any portion thereof when the same shall become due and payable, whether at maturity as herein expressed, or on demand of the Holder, unless cured within thirty-five (35) days after notice thereof by Holder to Maker.

	
(b)   

	
Maker shall file a voluntary petition in bankruptcy or a voluntary petition seeking reorganization.

	
(c)   

	
At such time as the entire Board of Directors of the Company as constituted on May 31, 2011 shall resign or otherwise be replaced.

Attorneys’ Fees.  If this unsecured promissory demand note is placed with an attorney for collection, or if suit is instituted for collection hereof, then in such event, the Maker agrees to pay reasonable attorneys’ fees, costs, and other expenses incurred by Holder in Holder’s collection efforts.

Construction.  This Note shall be governed by and construed in accordance with the laws of the State of Utah.

Evetsco, Inc.

a Delaware Corporation

By: /s/ Joseph Nemelka                      

Joseph Nemelka, President

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