LOAN AGREEMENT
Exhibit 10.12
Borrower(Party A)： SMARTEN TECHNOLOGY CO.,LTD
Lender (Party B) ： ZHONGNIAN TECHNOLOGY(BEIJING)CO.,LTD
Party A and B agree to borrow money on the principle of equality, voluntariness and honesty. This loan agreement is specially concluded for both parties to abide by.
I. Loan amount, loan interest rate and term
Both parties agreed through negotiation that Party B shall lend a total of XXX 000000 (say total: RMB Three Hundred Thousand Yuan Only. ) to Party A in cash.
Loan interest rate 20%
The loan term of this agreement is from January 15, 2020 to July 14, 2020. (if Party B fails to pay the loan to Party A before January 15, 2020, the starting date of the loan term shall be calculated according to the actual payment date of Party B)
II. Usage of loan
Party A will use the borrowed funds to supplement working capital. Party A’s account information:
Beneficiary bank： Longxiang Sub Branch,Shenzhen,Agricultural Bank of
China
Beneficiary name： SMARTEN TECHNOLOGY CO.,LTD
Beneficiary account No. ： 41024200040023259
III. Repayment method
1. After consensus, both parties choose the following repayment methods: Upon expiration of the loan term in this agreement, Party A will repay the loan in a lump sum.
2. Party B designates the following bank accounts as receiving accounts and guarantees that they are true and valid. Within seven working days be-fore the expiration of the loan period, Party A will remit the loan under this agreement to the account.
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Xxxxxxxxxxx bank： Oriental Xxxxx Xxx-xxxxxx, Xxxxxxx, Xxxxx Merchants Bank
Beneficiary name： ZHONGNIAN TECHNOLOGY(BEIJING)CO.,LTD
Beneficiary account No.： 110940132010901
3. In case of prepayment, Party A shall notify Party B one working day in advance.
IV. Party A’s guarantees
Repayment date: before July 14, 2020
Repayment amount: RMB 330,000 yuan (say total: RMB Three Hundred and
Thirty thousand yuan).
300,000+(300,000*20%)/2=330,000
0.Xxxxx A is a company established in accordance with the laws of the People’s Republic of China, has the capacity for civil rights and conduct necessary for signing and performing this agreement, and can independently bear civil liabilities.
2.All documents and statements related to the loan provided by Party A are legal, true, accurate and complete.
3. Party A guarantees that this loan agreement will not become invalid due to the change of the legal representative or the company’s shareholders, will not be subject to any fraud, and is an irrevocable, irrevocable and unconditional guarantee to be cashed on demand certificate with permanent legal effect. After the maturity of the borrowed funds, if Party B fails to fulfill its commitment, maliciously evades or deliberately delays the repayment, it is willing to accept the following treatment: Party B can directly bring a lawsuit to the court to re- cover from our company by virtue of this loan agreement, and we unconditionally waive all defenses and counterclaims. Party B may freeze the bank account of our company according to law by virtue of this loan agreement; The loan agreement is converted into an IOU owed by us to Party B; Recover the cashed amount and charge interest according to the loan interest rate; All expenses incurred during the recourse period shall be borne by our company.
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V. Party A’s Obligations
1. Party A shall pay off the loan principal in accordance with the agreement.
2. During the loan period, in case of any major change in Party A’s business decision (including but not limited to share conversion, reorganization, merger, division, joint venture, cooperation, change of business scope and registered capital, etc.) that may affect Party B’s rights and interests, Party A shall notify Party B in writing at least seven working days in advance, and implement the loan repayment responsibility or pay off in advance.
3. Without the written consent of Party B, Party A shall not transfer or disguise the debt liability of this agreement in any way.
4. In case of major events affecting Party A’s ability to perform the agreement, including but not limited to major economic disputes, suspension of business, closure of business, declaration of bankruptcy, dissolution, revocation of business license, revocation, deterioration of financial situation, etc., Party A shall immediately notify Party B in writing.
5. During the loan period, if Party A changes the legal person’s name, legal representative, domicile, telephone, fax, etc., Party A shall notify Party B in writing within seven working days after the change.
VI. Party B’s obligations
1. Party B shall lend funds to Party A in full and on time in accordance with the agreement.
2. Party B shall keep confidential the business secrets of Party A and the ma- terials, data and other information required to be kept confidential by Party A in the process of negotiation, conclusion and performance of this agreement.
VII. liability for breach of contract
1. After this agreement takes effect, if Party A fails to perform its obligations in accordance with the agreement, it shall bear the corresponding liability for breach of contract. Party A shall be responsible for the relevant taxes (value-
added tax, enterprise income tax, surtax, etc.) incurred by Party B due to Par- ty A’s failure to repay the loan on schedule.
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0. In case of any of the following circumstances, Party B shall have the right to require Party A to repay the loan and other expenses immediately, and the date on which Party B requires Party A to repay the above amount shall be the date of expiration of the loan term of this agreement.
(1) Party A fails to repay the loan on schedule and fails to repay it after being urged by Party B;
(2) Party A’s business is closed, declared bankrupt, dissolved, its business license is revoked, revoked, involving major economic disputes, deterioration of financial situation, etc;
(3) Party A has a major event that endangers, damages or may endanger or damage Party B’s rights and interests.
This agreement is made in duplicate, with each party holding one copy. It will come into force after signing and sealing. Other matters not covered shall be decided by both parties through negotiation.
Party A： SMARTEN TECHNOLOGY CO.,LTD (STAMP)
Unified social credit code：
914403003194288778 Legal person (or agent)
| signature： | /s/ NAN DU |
Address：
Tel：
Party B： ZHONGNIAN TECHNOLOGY(BEIJING)CO.,LTD (STAMP)
Unified social credit code：
| Legal person (or agent) signature： | /s/ NIANXU XXXX |
Xxxxxxx：
Xxx：
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