Authorization Agreement
To
:
International Bank of Taipei,
Center /
Branch
In
order
to get credit and loan information of the Contractor and other requirements
for
operations that are appropriate to registered business items, the authorized
person and the guarantor Pai
Suang-Yi (hereinafter
referred to as “Contractor”) agrees that the Bank may, within the specific
purposes and requirements under registered business items or other business
needs, provide the information of the Contractor, such as profile, financial
status, current accounts and remittance logs, credit card records, credit
transactions, credit reference reports, loan related data, and personal credit
data in relation to this Agreement, etc., for the Bank units, the same trade,
Joint Credit Information Center, Small and Medium Business Credit Guarantee
Fund, The Overseas Chinese Credit Guarantee Fund, Agricultural Credit Guarantee
Fund, Financial Information Service Co., Ltd., the Taiwan Clearing House, Taiwan
Securities Central Depository Co., Ltd., National Credit Card Center of R.O.C.,
those persons, organizations, or institutes who are in relation to creditor’s
right/debt liabilities (planning to loan assignment or participation) of the
Bank, entrust the Bank to handle banking business, designated by the Ministry
of
Finance, or have agreements signed with the Bank under the necessity of doing
business and may collect, process, transfer, and make use of the aforementioned
data of the borrower and the Contractor and said persons, organizations, or
institutes shall provide the data of the borrower and the Contractor to the
Bank
for reference.
The Authorized Person: | (Seal) |
Kid
Castle Internet Technology Corporation
0X,
000,
Xxxxx-xxx Xxxx, Xxxxxxxx Xxxx
The Guarantor: Pai Suang-Yi / Xxxx Xxxx-Tan | (Seal) |
Supervisor
|
Signature
Checker
|
Date
:
Mar. 16, 2006
1
Authorization
Letter
To
:
International Bank of Taipei
The
authorized person Kid
Castle Internet Technology Corporation
(hereinafter referred to as the “Authorized Person”) authorizes the Bank to
withdraw or transfer money from the current
account
of the
Authorized Person opened at the Yung-ho
Branch
of the Bank with A/C No. 14359-0
for
each
amount payable related to respective loans, deferred interests, penalties,
charges in relation to insurance on guarantees, handling fees of transferring
credit insurance guarantee fund, opening/amending letters of credit, collection
and other handling fees owing to relevant loans, the application of opening
letters of credit or foreign exchange business the Authorized Person submits
to
the Bank and the Authorized Person shall have no objection. The Authorized
Person hereby agrees to the following terms and conditions:
1.
|
The
bank is authorized to directly withdraw amounts payable that are
derived
from the aforementioned transactions between the Bank and the Authorized
Person or the borrower from said bank account of the Authorized
Person
without bank passbook or withdrawal slip of the Authorized Person
required. The Bank must mail or send all receipts of the money
withdrawals
to the Authorized Person for
records.
|
2.
|
The
Authorized Person shall go to the Bank for passbook entry and balance
check as soon as possible after said money withdrawals and the
Authorized
Person acknowledges all money withdrawals made by the Bank without
any
objection.
|
3.
|
The
Authorized Person shall go to the Bank for dealing all loan related
payment procedures with the Bank upon the maturity date/due date
of each
loan. In the event that the Authorized Person defaults to complete
necessary procedures with the Bank with excuse that the Bank is
authorized
to directly withdraw all amounts payable, the Authorized Person
shall be
liable to legal responsibilities for all possible results related
to the
said matters.
|
4.
|
In
the event the Bank deems it necessary, finds incomplete loan application
processing, or insufficient savings in said bank account of the
Authorized
Person, the Authorized Person or the borrower shall immediately
go to the
Bank for completing necessary processes upon receiving notification
from
the Bank.
|
5.
|
The
Bank has the right to deal with the aforementioned transactions
according
to this Authorization Letter before receiving a written notice
from the
Authorized Person to abrogate the authorization right and the completion
of relevant authorization annulment
processes.
|
2
The
Authorized Person: Kid
Castle Internet Technology Corporation /
Pai
Suang-Yi (Seal)
Business
united No. / ID No. :
The
Borrower : Kid Castle Internet Technology Corporation /
Pai
Suang-Yi (Seal)
Date
:
Mar. 16, 2006
Asistance
Manager Approval
|
Clerk
|
Signature
Check
|
3
Authorization
Letter
To
:
International Bank of Taipei
1.
|
The
authorized person Kid
Castle Internet Technology Corporation
(hereinafter referred to as the “Authorized Person”) hereby instructs with
authorization irrevocability that all or a portion of those goods
shipped
and arrived owing to the request made by the Authorized Person
to the
International Bank of Taipei (hereinafter referred to as the “Bank”) with
the import license and/or other documents issued by the Bureau
of Foreign
Trade, the Ministry of Economic Affairs, R.O.C. or designated
organizations by the competent authority in this connection provided
for
the application of opening letters of credit; however, in the event
the
Authorized Person fails to repay the payments to the Bank within
the terms
of loans according to respective letters of credit or all letters
of
credit the Authorized Person requests the Bank to open are deemed
due date
according to relevant loan agreements, the Bank has the right to
apply to
the Ministry of Economic Affairs, R.O.C. for approval to receive
those
goods at Customs and auction and freely handle those imported
goods.
|
2.
|
The
Authorized Person sincerely states that the declaration at Customs
made by
the Bank is deemed as the act of the Authorized Person with the
force of
constraint on the Authorized
Person.
|
The Authorized Person: Kid Castle Internet Technology Corporation | (Seal) |
Address
:
0X, 000, Xxxxx-xxx Xxxx, Xxxxxxxx Xxxx
Date
:
Mar. 16, 2006
Manager/Assistant
Manager
|
Clerk
|
Signature
Check
|
4
Promissory
note
|
1. It
is approved that the promissory note of $30,000,000
NT
Dollars is paid to International Bank of Taipei on .
2.
Destination
of payment :
3. The
interest of the loan shall be calculated at %
per annum starting from the issued date of the note. If the borrower
defaults to pay the interest and principal, 10% of the loan interest
as
penalty for in less than six months the reimbursement is made from
the
specified date, 20% of the loan interest as penalty for more than
six
months the reimbursement is made from the specified date.
If
the borrower defaults to pay the interest more than one year in
continuing
exhortation, the interest shall be added to the principal to be
collected
by the Bank.
4. This
promissory note is exempted from providing protest proof and the
Obligation of Notification on Article 89 of the Law of Bills and
Notes.
Drawer
: Kid Castle Internet Technology Corporation
Address
: 0X, 000, Xxxxx-xxx Xxxx, Xxxxxxxx Xxxx
Drawer
: Pai Suang-Yi
Address
:
1-3, Ally 00, Xxxx-xxx Xxxx, Xxxxxx Village, Huatan Township, Xxxxx
Xxx
County
Drawer
:
Address
:
Date
: March 16, 2006
|
-----------------------------Please
put a seal on the perforation--------------------------------------
5
Letter
of
Authority
To
:
International Bank of Taipei
The
above
Drawers concurrently issue the promissory note to the Bank as shown on the
upper
page and further authorize the Bank to automatically fill in the due date
and
interest rate on the promissory note according to agreed agreement(s) and
relevant application policies to exercise the right of the note.
Drawer
:
Kid Castle Internet Technology Corporation (seal)
Drawer
:Pai Suang-Yi (seal)
Drawer
:
(seal)
Clerk
:
|
|
Section
Chief :
|
|
Assistant
Manager :
|
|
Manager
:
|
6
LETTER
OF
UNDERTAKING
To
:
International Bank of Taipei
The
Borrower Kid
Castle Internet Technology Corporation hereby
gives an undertaking to deposit money (including savings at present and in
the
future) into the Current Account : A/C No. ,
a
specific account preparing for an offset to loan(s),
at the
Bank opened in the Borrower’s name for the Bank to put in pledge as guarantee of
the Borrower’s loans. The Borrower further authorizes the Bank to directly
transfer money either from the Borrower’s bank account to pay off the amount of
the loans, including principal, interest, penalty, and relevant charges incurred
from said loans, or to
the
Borrower’s bank account
without
the Borrower’s bankbook, seal, or deposit receipt required. The Borrower shall
not withdraw money from the bank account without the written consent of the
Bank.
Borrower
: Kid
Castle Internet Technology Corporation
Business
Unit No.: 70676630
Address
:
0X, 000, Xxxxx-xxx Xxxx, Xxxxxxxx Xxxx
Date
:
March 16, 2006
The
original authorized seal of specific
account preparing for an offset of loans
|
|
Checked
by :
|
|
Supervisor
:
|
Date
of authorization Termination
|
No.
|
7
Notification
of
Approved Loan
To
: Kid
Castle Internet Technology Corporation
The
Bank
is pleased to inform you that your loan
application has been approved and the conditions for the amount of loan approved
are set as follows:
Item
|
Amount
|
Loan
Conditions
|
Term
of Loan
|
Interest
Rate
|
Middle-term
loan (single)
|
NT$15,000,000
|
3-year
installments paid by cheques, 30% of franchising fee should be
obtained as
preparation for loan repayment (the duration of cheque collection
may be
more than one year and above).
|
3
years
|
Base
Lending Rate of the Bank plus 2.29% (current : 6%)
|
Total
|
NT$15,000,000
|
|||
Remark
|
International
Bank of Taipei, Jingmei Corporate Banking Center
Date
:
Jan. 28, 2005
8