Loan Agreement
Party
A:
Long-E Technology (Shenzhen) Co., Ltd (refer to “the loaner”
hereunder)
Business
address: 6F/C Bldg., Huahan Chuangxin Block, Keyuan Rd., Hi-Tech Industry Zone,
Nanshan District, Shenzhen
Legal
representative: Mr. Bu Shengfu
Party
B:
Shenzhen Xugang Electronics Co., Ltd (refer to “the borrower”
hereunder)
Business
address: Xx.0 Xxxx., Xxxxxxx Xxxxxxxxxx Xxxx, Xxxx Xxxx, Xxxxxxxx
Legal
representative: Mr. Ma Chengxian
Whereas,
Party A decides to support Party B on the aspects of its production and
operation, as well as solving Party B’s problem caused by the lacking of liquid
capital in the process of enlarging activity of its production scale. Therefore,
both parties have reached into an agreement on loan after sufficient and
friendly negotiation as follow:
1.
Purpose of loan: This loan borrowed by Party B shall just used for the turnover
of Party B’s production and operation. It cannot used for other
purposes.
2.
Amount: RMB 5,000,000 (said RMB five million in total)
3.
Period
of loan: From November 26th ,
2007 to
May 25th,
2008
4.
Rate
of loan: 12% per year
5.
Repayment guarantee: Party B shall pay back all the amount of loan and related
interest in full amount before the date as of May 26th,
2008 at
that time, that is, Party B shall pay back the loan (RMB 5,000,000) and related
interest (RMB 300,000) at expiry date.
6.
Other
guarantee: Party can wire the loan to Party B’s authorized account by one time
or by amortizing. Party B shall prepare relevant receipt for Party A after
received the loan.
Party
A:
Long-E Technology (Shenzhen) Co., Ltd
Bank:
Longhua Branch, Bank of China
Account
no.: 814002861708092001
Signature
and chop of company:
|
Legal
representative: Mr. Bu Shengfu
|
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Date:
November 22nd,
2007
|
Party
B:
Shenzhen Xugang Electronics Co., Ltd
Bank:
Bantian Branch, Bank of China
Account
no.: 826255387208091001
Signature
and chop of company:
|
Legal
representative: Mr. Ma Chengxian
|
|
Date:
November 22nd,
2007
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