Term Loan Agreement
EXHIBIT
10.1
Term
Loan
Agreement
Party
A
(hereinafter referred to as the “Lender”): Tianjin Tianshi Biological
Development Co., Ltd.
Party
B
(hereinafter referred to as the “Borrower”): Tianjin Tianshi Biological
Engineering Co., Ltd.
The
Lender and the Borrower have reached and signed a loan agreement which should
be
observed by both parties.
In
order
to support the business development of the Borrower, the Lender agrees to extend
the loan agreement that was signed on December 22, 2006, and makes the following
according amendments:
| 1. |
The
amount of the loan: RMB 200 million ( ¥
200,000,000);
|
|
2.
|
The
term of the loan agreement: from October 1, 2007 to December 31,
2007;
|
|
3.
|
The
type of the loan: short-term loan;
|
|
4.
|
The
interest of the loan: at a rate that is equal to the contemporary
interest
rate for the same level of the loan published by the People’s Bank Of
China;
|
|
5.
|
The
Borrower guarantees to repay the principal and interest of the loan
by
December 31, 2007, and the terms of the loan agreement shall not
be
breached.
|
|
6.
|
With
approval from the Lender the Borrower can pay off the loan before
December
31, 2007. The interest of the loan shall be calculated until the
day on
which the principal of the loan is repaid, and no fine shall be imposed
on
the Borrower for advancing the repayment of the
loan.
|
|
The
Lender:
|
The
Borrower:
|
||
| Tianjin Tianshi Biological Development Co., Ltd |
Tianjin
Tianshi Biological Engineering Co., Ltd
|
||
| /s/ Xxxxxxx Xx | /s/ Xxxxxx Xx | ||
|
|
|
||
| Title:General Manager | Title: Director | ||
| September 27, 2007 | September 27, 2007 |
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