Exhibit 10.38
DATED AS AT 26 September 2003
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ADVANCED INTERNET SERVICES LIMITED
- and -
WANG ▇▇▇ ▇▇▇▇
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SUPPLEMENTAL LOAN AGREEMENT
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THIS AGREEMENT is made as at the 26/th/ day of September 2003
BETWEEN:
(1) ADVANCED INTERNET SERVICES LIMITED, a private company incorporated in Hong
Kong (under company number 687366) with limited liability and its
registered office is at ▇▇/▇▇/ ▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇'▇ ▇▇▇▇ ▇▇▇▇▇▇▇,
▇▇▇▇ ▇▇▇▇; ("Lender"); and
(2) WANG ▇▇▇ ▇▇▇▇, holder of the passport of People's Republic of China
numbered PCHN143637106, whose correspondence address is at ▇-▇-▇▇▇,
▇▇▇▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, P.R.China ("Borrower")
Pursuant to the loan agreement dated 25/th/ November 2002 made between the
Lender and the Borrower ("Loan Agreement"), the Lender has made available to the
Borrower a loan facility in the amount of RMB136,032,781 upon the terms and
subject to the conditions as set out therein. Pursuant to the novation agreement
made supplemental to the Loan Agreement dated 26/th/ September 2003 between the
Parties and ▇▇▇▇▇ ▇▇▇▇ ("Novation Agreement"), the Borrower is indebted to the
Lender in the sum of RMB105,722,947. The Loan Agreement and Novation Agreement
shall hereinafter collectively referred to as ("Previous Agreements"). The
Parties have agreed to enter into this Agreement as supplemental agreement to
the Previous Agreements upon the terms and subject to the conditions as set out
hereinafter.
IT IS HEREBY AGREED as follows:
1. INTERPRETATION
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1.1 In this Agreement, the expressions defined in the Previous Agreements shall
apply to this Agreement, unless the context requires otherwise.
1.2 References in this Agreement to the Recital and Clauses are to the recital
and clauses in this Agreement unless the context requires otherwise.
2. REDUCTION OF THE OUTSTANDING LOAN AMOUNT
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The Parties agree that the loan amount owing from the Borrower to the
Lender pursuant to the Previous Agreements shall be reduced from
RMB105,722,947 to RMB70,722,947.
3. GOVERNING LAW AND JURISDICTION
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This Agreement shall be governed by and construed in accordance with the
laws of Hong Kong. Each Party hereby irrevocably submits to the
non-exclusive jurisdiction of the courts of Hong Kong.
4. MISCELLANEOUS
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Except as otherwise provided in this Agreement, all provisions of the
Previous Agreements shall continue to be in full force and effect and
continue to be valid and binding upon the Parties.
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IN WITNESS WHEREOF this Agreement has been executed on the day and year first
above written.
SIGNED by Tommei Tong )
ADVANCED INTERNET SERVICES LIMITED ) /s/ Tommei Tong
In the presence of: )
)
2
SIGNED by )
▇▇▇▇ ▇▇▇ LNG ) /s/ Wang ▇▇▇ ▇▇▇▇
in the presence of: )
)
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