LOAN AGREEMENT (English Translation of Original Contract in Chinese)
(English
Translation of Original Contract in Chinese)
This
Agreement is entered into by the following:
Party
A:
Zhou Diping
Party
B:
PerfectEnergy (Shanghai) Company Limited
The
parties hereto freely enter into this Agreement regarding loan by Party A to
Party B, and agree as follows:
| 1. |
To
alleviate Party B’s cash flow pressure relating to its manufacturing
operation, Party A agrees to loan Party B the sum of RMB
200,000.
|
| 2. |
Party
B agrees to borrow from Party A the sum of money described above, and
further agrees to pay Party A interest at the rate of 7.2% per
annum.
|
| 3. |
Party
A shall transfer the entire sum in one payment into Party B’s account, and
the parties jointly agree that interest will begin to accrue on
2/25/2006.
|
| 4. |
Term
of the Loan: From 2/25/2006 to 2/24/2007. At the end of the Term, Party
B
shall repay the entire loan in one
payment.
|
| 5. |
Payment
of Interest: Party B shall make interest payment once per
quarter.
|
| 6. |
Any
issues not addressed by this Agreement shall be resolved by the parties
amicably.
|
| 7. |
This
Agreement shall be in 2 copies, 1 copy to each party, and shall take
effect upon the parties’ signatures and stamp.
|
|
Party
A: Zhou Diping
|
Party
B: PerfectEnergy (Shanghai) Co.
|
|
Signature:
|
Signature:
|
|
Stamp:
|
Stamp:
|
|
Date:
|
