LOAN AGREEMENT (English Translation)
(English
Translation)
This
is
an agreement between the following parties:
|
Party
A:
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Xxxxxxxx
Xxxxx
|
|
Party
B:
|
Perfectenergy
(Shanghai), Ltd.
|
The
parties hereto enter into this agreement voluntarily, after friendly
negotiations, to enable Party B to borrow money from Party A, as
follows:
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1.
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To
address Party B’s cash flow issue, Party A agrees to loan Party B Two
Million RMB.
|
|
2.
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Party
B agrees to borrow the money described above for cash flow, and agrees
to
pay Party A interest at the rate of 7.2% per
annum.
|
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3.
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Funding
method: Party A shall transfer the entire sum into Party B’s account, and
the parties agree that interest shall begin on February 18,
2006.
|
|
4.
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Term
of loan: February 18, 2006 to February 17, 2007. At the end of the
term,
Party B shall repay Party A the borrowed sum in one
payment.
|
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5.
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Payment
of interest: Party B shall pay Party A interest on a quarterly
basis.
|
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6.
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The
parties hereto agree to resolve any disputes amicably.
|
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7.
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This
agreement will be in two originals, with each party holding one.
This
agreement will be effective upon the parties’ signatures and
stamps.
|
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Party
A: Xxxxxxxx Xxxxx
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Party
B: Perfectenergy (Shanghai), Ltd.
|
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Signature:
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Signature:
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Seal:
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Company
Seal:
|
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Date:
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