Contract of Monetary Loan for Consumption
EXHIBIT 10.7
Contract of Monetary Loan for Consumption
Translated From Japanese
September 29, 2006
K.K. Mitsui Sumitomo bank
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Place: |
West Shinjuku Showa xxxx. 00X, 0-00-00, Xxxxx-Xxxxxxxx, Xxxxxxxx-xx. Xxxxx |
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Principal |
Name: |
K.K. Global Hotline |
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Xxxxxx Xxxx |
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Joint Surety |
Place: |
0-00-00 Xxxxxx, Xxxxxxx-xx, Xxxxx |
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Name: |
Xxxxxx Xxxx |
Article 1 (Loan Guidelines)
The debtor has certainly loaned and acknowledged receipt, through the articles below, from the bank by agreeing on the articles in the banking transaction agreement as well as the articles in this contract.
Loan Content |
1. Loan Amount |
30,000,000 YEN |
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2. Fund Allocation: |
Working Fund |
3. Final Repayment Due Date: |
September 29, 2013 |
4. The debtor will use the guarantee from Tokyo Credit Guarantee Association |
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----------------------------------------------------- Bank Use Only -----------------------------------------------------
Loan Interest/Method of Repayment/Method of Interest Payment |
5. Loan Interest
Yearly |
2.125% |
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Basic Interest Rate |
Debtor’s short-term prime rate |
If the basic interest rate is other than the fixed interest rate, loan interest is to change according to article 4
6. Method of Repayment/Method of Interest Payment
( 1 ) |
Equal monthly payments of principal (including lump sum repayment on the due date) |
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Date and term of repayment |
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Number of times |
Each amount of repayment | |
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First Time |
October 31, 2006 |
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357,000 YEN |
P |
Each Repayment |
Second Time |
From November 2006 to August 2013; |
82 |
357,000 YEN | ||
Time appointed for repayment |
Final repayment due |
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369,000YEN | ||
I |
Method of payment |
Advance Payment |
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payment interval after |
Every one month | |
First time payment date |
September 29,2006 |
Second payment |
October 31,2006 |
payment date after second payment |
Every end of month |
Direct debt of repayment amount and interest |
7. Settlement Account (debtor’s name)
Name of bank |
Item |
Account Number |
Account Name |
Nakano branch |
Saving Account |
0000000 |
K.K. Global Hotline |
8. Date of direct debt
Trade date established by the above stated article 6. (However, if the trade date coincides with the bank’s holiday, then the next working day.)
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