LOAN AGREEMENT
Exhibit 4.59
Party A: Shanghai Zhengduo Information Technology Co., Ltd.
Representative: XXX Xxx
Address: Xxxxxxxx Xx.0, 000 Xxxxxx Xxxx, Xxxxx Xxxxxxxx, Xxxxxxxx 000000, the People’s Republic of China
Telephone Number: 000-00000000
Party B: Shanghai Tonghua Network Technology Co., Ltd.
Representative: XXXX Xxxx
Address: Xxxxxxxx Xx.0, 000 Xxxxxx Xxxx, Xxxxx Xxxxxxxx, Xxxxxxxx 000000, the People’s Republic of China
Telephone Number: 000-00000000
WHEREAS:
In order to carry out Party B’s business activities in game development, Party A agree to provide a 3.72 million RMB loan to Party B.
After friendly negotiations, Party A and Party B concluded this loan agreement to clarify the Parties’ rights and obligations as follows.
Article 1. The amount of the loan is 3.72 million RMB.
Article 2. Party B shall use the loan for game development of Shanghai Tonghua Network Technology Co., Ltd.
Article 3. Under the provisions and conditions of this Agreement, Party A has provided an interest-free loan to Party B without consideration.
Article 4. Repayment.
Party B shall repay the loan under this Agreement with its profits by priority.
Article 5. Warranties.
| 1. | Party B shall use the loan in accordance with the provisions of this Agreement, and shall not use the loan for other purposes or in connection with illegal activities. |
| 2. | Party B shall repay the loan within the term under this Agreement. |
| 3. | Party B is obliged to accept Party A’s check and supervision on the usage of loan, as well as the implementation of plan, the state of operation, management, financial activities, inventory of material, etc. Party B shall provide relevant plans, statistics, financial statements and materials to Party A. |
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Article 6. Liabilities for Breach.
| 1. | Party B’s Liabilities for Breach |
| a) | If Party B doesn’t use the loan in accordance with the provisions under this Agreement, Party A shall have the right to withdraw all or part of the loan. At the same time, Party B shall be held liable for the breach. |
| b) | If Party B doesn’t repay the loan upon due date, Party A shall have the right to recover the entire amount of the loan. At the same time, Party B shall be held liable for the breach. |
| c) | If Party B uses the loan in connection with illegal activities, Party A shall have the right to recover the entire amount of the loan. In serious cases, Party B shall be handed over to judicial authority to investigate into criminal responsibilities. |
Article 7. Resolution of Disputes.
If any dispute shall arise in connection with the performance of this agreement, the Parties may solve the disputes by good faith negotiations. If the dispute cannot be resolved through good faith negotiations, either party may submit the dispute to be resolved by the People’s Court at Party A’s location.
Article 8. Miscellaneous.
| 1. | No party may modify or terminate this Agreement without authorization. If either party requests to modify or terminate this Agreement, the party should timely notice the other party in writing and then reach a written amendment with the other party. |
| 2. | In the event that there are outstanding issues under this Agreement, the Parties should negotiate and make a supplemental agreement. The effectiveness of the supplemental agreement shall be the same as this Agreement. |
| 3. | This Agreement is made in four counterparts that shall take effect upon seal by both parties. Party A and Party B shall each have two counterparts, the effectiveness of which shall be the same. |
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Party A: Shanghai Zhengduo Information Technology Co., Ltd. (Seal)
Representative:
Party B: Shanghai Tonghua Network Technology Co., Ltd. (Seal)
Representative:
Date:
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