ContractForbearance and Debt Payment Agreement • May 5th, 2020
<DOCUMENT> <TYPE>EX-10.6 <SEQUENCE>2 <FILENAME>soyo8kex106101906.txt <DESCRIPTION>FORBEARANCE AND DEBT PAYMENT AGREEMENT <TEXT> Exhibit 10.6 EXECUTION COPY FORBEARANCE AND DEBT PAYMENT AGREEMENT This FORBEARANCE AND DEBT PAYMENT AGREEMENT (this "Agreement") is entered into as of the ____ day of December, 2006, by and between Eastech Electronics (Taiwan) Inc. ("Eastech") and SOYO Group, Inc. ("Soyo)"). RECITALS -------- A. Soyo is indebted to Eastech for goods purchased pursuant to purchase orders and related documents (as amended and modified from time to time prior to the date hereof, the "Documents"). As of the date of this Agreement, the indebtedness is in the amount of US $3,785,280.28 (the "Indebtedness"). The Indebtedness to Eastech is unsecured and is not evidenced by an instrument. B. The Indebtedness was due in full prior to the date hereof and was not paid when due. C. Soyo and Eastech are parties to that certain Confidentiality and Non-Disclosure Agreement dated as of August
RECITALS --------Forbearance and Debt Payment Agreement • December 27th, 2006 • Soyo Group Inc • Wholesale-electrical appliances, tv & radio sets
