Exhibit 10.6
Amendment to Loan Agreement dated August 15, 2004
WHEREAS, AMERICAN METAL TECHNOLOGY GROUP, a corporation incorporated under
laws of the state of Nevada (herein after referred to as "AMTG") with address at
000 Xxxxxxxx Xxxx Xxxxx 0000, Xxx Xxxxxxx, XX 00000., entered into a loan
agreement (the "Agreement") on August 15, 2004 for the borrowing of $600,000
long term no interest baring loan from with Beijing Xxxxx Technology (Holding)
Co., Ltd., a company incorporated under the laws of the People's Republic of
China (hereinafter referred to as "BST").
WHEREAS, the loan period in the Agreement ends on December 31, 2005.
WHEREAS, AMTG wishes to extend the time of the closing of the Agreement in
order to carry out its plan on constructions of its new factory.
WHEREAS, the parties have mutually agreed to amend and modify the
agreement;
NOW, THEREFORE, the parties, for mutually accepted and agreed upon
consideration, hereby amend and modify the Agreement as follows:
1. Section 3 of the Agreement shall now read as follows:
3. LOAN PERIOD: The Loan shall be interest free and payable to an account
designated by the Borrower. Loan period shall be from the date of this
agreement till December 31, 2006 ("Maturation date"). The Borrower may
apply for an extension by submit a written notification to the Lender 30
days prior to the Maturation date. The Lender promise to grant borrow the
first right of refusal should the Borrower applies for an extension. If the
Borrower didn't apply for extension, on the Maturation date, the Borrower
shall remit full amount of this loan to a bank account designated by the
Lender. There will be no penalty if the Borrower chooses to remit part or
full capital of the loan prior to maturation.
2. Except as here specifically modified and amended, all other terms and
conditions of the Agreement are hereby confirmed.
WITNESS WHEREOF, the parties have executed this Agreement as of the date
and year written below.
American Metal Technology Group
By: S/S Xxxxxxx Xxx
Title: Chairman
Dated: May 01, 2005
Beijing Xxxxx Technology (Holding) Co., Ltd.
By: S/S Gao Chen
Title: Chairman
Dated: May 01, 2005
