Working Capital Loan Agreement
Working
Capital Loan Agreement
Borrower : Shanghai Vomart
Auto Parts Co., Ltd. (hereinafter referred to as Party
A)
Lender : YBM Group China
Co., Ltd. ( hereinafter referred to as
Party B)
In order
to clarify responsibility and to maintain good credit, Party A and Party B,
through mutual consultations, hereby have entered the following contract
(“Contract”):
Article
I Loan amount and usage
Party A,
currently in its marketing development and expansion period, lacks sufficient
funds, and hereby A applies for loan from Party B. Party B agrees to provide
Party A with loans with a total amount no more than RMB 50 million as Party A’s
working capital turnover.
Article
II. Term of loan
The term
of loan in this contract is three years.
Article
III Loan method
Party A
shall file an application for each loan. Upon Party B’s examination and
approval, Party B shall transfer the loan amount to Party A’s designated
account.
Article
IV Loan interest
All loans
under the Contract are interest-free.
This
contract shall take effect after being signed or sealed by both parties. It
shall expire automatically upon being paid off by Party A.
This
contract is in duplicate. One for Party A and one for Party B.
Borrower
(seal): Shanghai Vomart Auto Parts Co., Ltd.
Date: May
10, 2008
Lender
(seal): YBM Group China Co., Ltd.
Date: May
10, 2008
