Lease Agreement
Exhibit
10.15
Party
A
(hereinafter referred to as the “Group”): Tianjin Tianshi Group Co.
Ltd.
Party
B
(hereinafter referred to as “Biological”); Tianjin Tianshi Biological
Development Co., Ltd.
Group
and
Biological have entered into a Real Property Transfer Agreement (the “Transfer
Agreement”) dated December
14,
2007
pursuant to which Biological is transferring certain buildings (the “Buildings”)
and land use rights to Group. Pursuant to the Transfer Agreement, Group has
agreed to allow Biological to continue to use and occupy certain of the
Buildings, as specified on Exhibit A (collectively, the Leased
Buildings”).
| 1. |
Group
provides Biological the right to lease, use and occupy the Leased
Buildings from the date of this Agreement until the earlier of (i)
the
date Biological acquires the use of and occupies alternate facilities,
or
(ii) the date the Land Use Rights for the Leased Buildings
expire.
|
| 2. |
Biological
shall have the right to lease, use and occupy the Leased Buildings
without
payment of any management or lease fee to Group; provided however,
that
Biological shall pay Group for all utility charges and maintenance
costs
related to the Leased Buildings (the “Charges”). Such Charges shall be
invoiced by Group to Biological on a monthly or quarterly basis and
shall
be paid by bank transfer within 30 days of receipt of the
invoice.
|
| 3. |
Group’s
responsibilities:
|
| a. |
Group
shall insure that all of the Leased Buildings run properly and provide
maintenance for the Leased Buildings on a regular basis. Group shall
compensate Biological’s losses caused from improper maintenance or
management of the Leased Buildings by
Group.
|
| b. |
Group
shall pay insurance fees for the Leased Buildings and is responsible
for
compensating Biological’s losses caused from the improper behavior of the
management staff and other users of
Group.
|
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| c. |
Group
is obliged to satisfy Biological’s reasonable and legal requirements
during the lease period.
|
| d. |
Biological
shall timely notify Group to take effective measures for any damages
or
malfunctions existing or occurring on the Leased Buildings that may
affect
the safe and normal use of the Leased
Buildings.
|
| 4. |
Biological’s
responsibilities:
|
| a. |
Biological
shall comply with the law in the People’s Republic of China during the
lease period.
|
| b. |
Biological
shall pay the Charges to Group as stipulated in Section 2
above.
|
| c. |
Biological
shall properly use and take good care of the Leased Buildings and avoid
any abnormal damages. Biological shall be responsible for the timely
maintenance or compensation for any malfunction on the premise and
its
internal facilities caused by its misuse or inappropriate
use.
|
| d. |
Biological
shall keep the Leased Buildings in a good condition. Biological and
Group
shall confirm in writing the condition of the Buildings on the date
of
this Lease Agreement. Upon termination of this Agreement, Biological
shall
be responsible to pay to Group the cost of returning the Leased Buildings
to their original state, excluding normal wear and tear or original
defect.
|
| e. |
Biological
shall provide Group with 60 days prior written notice of the date on
which
it will vacate the Leased Buildings (the “Termination Date”). Party A
shall prepare an inventory of all its assets in the Buildings and arrange
to remove all of its assets from the Buildings before the Termination
Date.
|
| 5. |
Any
matters not covered in this agreement shall be further negotiated between
the two parties in good faith and a supplemental agreement shall be
equally valid.
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| 6. |
Both
parties shall solve any disputes arising from the execution and
performance of this agreement through good faith negotiation. In the
case
that an agreement cannot be reached, according to the laws of the People’s
Republic of China, either party may submit the dispute to the court
which
has jurisdiction over the Leased
Buildings.
|
| 7. |
This
Agreement has four original, two in Mandarin and two in English. Each
party shall keep one of each language and the Mandarin version shall
govern in case of inconsistency.
|
| 8. |
This
Agreement shall be effective from the date on which both parties have
signed on it.
|
Tianjin
Tianshi Group Co., Ltd
[COMPANY
SEAL AFFIXED]
Authorized
representative: /s/ Xxxxxxx Xx
Address:
No.
6
Yuanquan Road, Wuqing Development Area, Tianjin New-tech Industry
Park
Date:
December 14, 2007
Tianjin
Tianshi Biological Development Co. Ltd.
[COMPANY
SEAL AFFIXED]
Authorized
representative: /s/ Xxxxx Xx
Address:
Xx.
0
Xxxxxxxx Xxxx, Wuqing Development Area, Tianjin New-tech Industry
Park
Date:
December 14, 2007
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