Supplemental Loan Agreement
Exhibit 4.53
Borrower (Party A):
|
Zastron Electronic (Shenzhen) Co., Ltd. |
|
Address:
|
Gu Su Industrial Estate, Xixiang, Baoan, Shenzhen | |
Postal Code:
|
518126 | |
Lender (Party B):
|
Zastron Precision-Tech Limited |
|
Address:
|
Cricket Square, Xxxxxxxx Drive, P.O. Box 2681, Grand Cayman | |
| KY1 -1111, Cayman Islands |
Whereas,
| (1) | A Loan Agreement (“Former Loan Agreement”) was made and entered into by and between Party A and Party B on 30th March, 2004, wherein, Party A borrowed USD18,660,000 and the loan term of one year, from 31st March 2004 to 30th March 2005; | |
| (2) | Afterwards, several Supplemental Loan Agreements were entered into by and between both Party A and Party B upon consensus through consultation to defer the repayment deadline. In accordance with the Supplemental Loan Agreement signed on 5th September 2007, the maturity date for loan was 30th March 2008. | |
| (3) | Upon consultation, both Party A and Party B enter into the Agreement in the purpose of extending the repayment deadline in the Former Loan Agreement by one year, in order to jointly abide by and implement. |
| Article 1 | Loan Term |
Party A and Party B now consent to re-extend the Loan Term in Article 3 under the Former Loan
Agreement by one year, and shall start from 31st March 2008 to 30th March
2009.
| Article 2 | Validity of the Aforesaid Agreement |
The Loan Term in the Former Loan Agreement is modified, and all terms and conditions therein
continue to be effective.
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| Article 3 | Coming into Effect of the Agreement |
This Agreement comes into effect upon the signing by Statutory Representative (Principal) or
Authorized Agent designated by Party A and Party B hereof and the affixation of respective official
seal.
| Article 4 | This Agreement shall be made in triplicate and automatically become null and void upon the repayment of the principal by Party A. |
| Article 5 | The Agreement shall comply with the Regulations for Foreign Exchange Control of the People’s Republic of China. |
Party A (Official Seal): Zastron Electronic (Shenzhen) Co., Ltd.
Statutory Representative or Authorized Agent (Signature):
Statutory Representative or Authorized Agent (Signature):
(Seal)
(Signature)
3rd April 2008
(Signature)
3rd April 2008
Party B (Official Seal): Zastron Precision-Tech Limited
Representative (Member of Board) or Authorized Agent (Signature):
Representative (Member of Board) or Authorized Agent (Signature):
| For and on behalf of | ||||
| Zastron Precision-Tech Limited | ||||
| (Signature)
|
3rd April 2008
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