LOAN AGREEMENT Between GINZA ONODERA USA INC. (Hereinafter referred to as “Borrower”) And ONODERA GROUP CO., LTD. (Hereinafter referred to as “Lender”)
Exhibit 10.7
Between
GINZA ONODERA USA INC.
(Hereinafter referred to as “Borrower”)
And
ONODERA GROUP CO., LTD.
(Hereinafter referred to as “Lender”)
This loan agreement (hereinafter referred to as “this agreement) is established between the following parties:
Between
GINZA ONODERA USA INC. (Borrower)
Address : 000 Xxxxxxxx Xxx, Xxxxxxxx, XX 00000, XXX
EIN code:
| Representative: XXXXXXX XXXXXXXX | Position: Executive Vice President |
And
ONODERA GROUP CO., LTD (Lender)
Address: 0-0-0 Xxxxxxxx Xxxxxxx-xx, Xxxxx 000-0000, Xxxxx
EIN code:
| Representative: XXXXXXX XXXXXXX | Position: President |
Mutually agree to sign a loan agreement as follows:
Article 1: Loan value
1.1.Value of loan: The lender agrees to lend to the borrower a total of JPY20,000,000 (Twenty million Japanese Yen).
1.2.Type of currency: JPY (Japanese Yen)
1.3.This agreement takes effect from the date the borrower receives the loan amount.
Article 2: Term of principal payment
The payment period of this loan shall be one year from the date of loan, and the amount including the principal and interest shall be repaid in a lump sum at the expiration of the period.
Article 3: Interest rate
The interest rate of the loan shall be 0.5% per annum from the commencement date of this Agreement, and it shall be repaid by adding it to the principal when the loan is repaid.
Article 4: Methods of transaction
The lender will transfer the amount of the loan under article 1 to the borrower’s bank account as follows.
| Bank name | First Hawaiian Bank, Kapiolani Branch |
| Address | 0000 Xxxxxxxxx Xxxx, Xxxxxxxx, XX 00000 |
| Account number | |
| SWIFT/BIC | XXXXXX00 |
| Account name | XXXXXXX USA INC. |
Article 5: Terms of dispute
In case of any dispute between the two parties related to this agreement, it will be complied with the arbitral award at the place where the lender is attached.
This agreement is made in 2 copies, each party keeps 1 copy with all signatures of both parties.
DATE: 5/18/2023
| GINZA ONODERA USA INC. | GINZA ONODERA GROUP CO., LTD. | |
/s/ XXXXXXX XXXXXXXX |
/s/ XXXXXXX XXXXXXX | |
| Executive Vice President / | President / | |
| XXXXXXX XXXXXXXX | XXXXXXX XXXXXXX |
