Term Loan Agreement
EXHIBIT
10.1
Party A
(hereinafter referred to as the “Lender”): Tianjin Tiens Life
Resources Co., Ltd.
Party B
(hereinafter referred to as the “Borrower”): Tianjin Tianshi
Biological Engineering Co., Ltd.
The
Lender and the Borrower have reached and signed a loan agreement which should be
observed by both parties.
The
Borrower agrees to pay interest on the balance, as of March 31, 2009, of the
Lender’s Other Receivables-related parties that originated from the Borrower and
were transferred from the Lender’s Accounts Receivable – related
parties. The related terms are stipulated as follows:
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1.
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The
amount of the loan: RMB 17,538,448 (US$
2,562,017);
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2.
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The
term of the loan agreement: from April 1, 2009 to June 30,
2009;
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3.
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The
type of the loan: short-term loan;
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4.
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The
interest of the loan: at a rate for the same level and same period of loan
stipulated by the People’s Bank of China on April 1, 2009
(4.86%);
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5.
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With
approval from the Lender, the Borrower can pay off the loan before June
30, 2009. The interest of the loan shall be calculated until the day on
which the principal of the loan is repaid, and no fine shall be imposed on
the Borrower for advancing the repayment of the
loan.
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The
Lender:
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The
Borrower:
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Tianjin
Tiens Life Resources Co., Ltd
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Tianjin
Tianshi Biological Engineering Co., Ltd
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By
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/s/ Xxxxx Xx |
By
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/s/ Xxxxxxx Xx
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Title:
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Authorized
Representative
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Title:
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Authorized
Representative
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April
21, 2009
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April
21, 2009
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