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Dated March 31, 2000
(1) ABC COMPANY
XYZ COMPANY
(3) MR DEF
DEED OF ASSIGNMENT
THIS DEED is made on
BY:
(1) ABC COMPANY, a company incorporated under the companies ordinance of Hong Kong whose registered office is at Flat B, 9/F., XXX Commercial Centre, XXX Shanghai Street, Yau Ma Tei, Kowloon, Hong Kong (the “Assignor”),
in favour of
(2) XYZ COMPANY, a company incorporated under the laws of the People’s Republic of China whose registered office is at 深圳市XX路XXX大廈A座9層 (the “Assignee”) and
(3) MR DEF(XXX), (the “Person”).
WHEREAS the Person is indebted to the Assignor in the amount of HK$961,533.29 (the “Loan”) and the Assignor agrees to effect an assignment of the Loan to the Assignee subject to and in accordance with the terms hereof.
NOW THIS DEED WITNESSETH as follows:
1. ASSIGNMENT
1.1 In consideration of the Assignee agreeing to repay the Assignor pursuant to Clause 1.2, the Assignor as beneficial owner hereby assigns to the Assignee absolutely and the Assignee agrees to take an assignment of all the Assignor’s right, title and interest in the Loan presently due and owing to the Assignor by the Person.
1.2 The Assignee hereby agrees that, subject to receipt from the Person of an amount equivalent to the Loan, the Assignee shall, at any time on demand of the Assignor, repay the Assignor in full the Loan free of any interest or third party encumbrance of whatever nature.
2. REPRESENTATIONS
The Assignor hereby represents to the Assignee that the Assignor is the beneficial owner of the Loan and has full right and title to collect the Loan and that the Person is indebted to the Assignor for the full amount of the Loan which is repayable in full at any time on demand free of any third party encumbrance of whatsoever nature. The Assignor further represents to the Assignee that the Assignor has full power and right to assign the Loan on terms hereof.
3. NOTICE TO THE PERSON
The Assignor here
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