Yida (Fujian) Tourism Group Limited Loan Agreement
Exhibit 10.38
[English Summary]
Yida (Fujian) Tourism Group Limited Loan Agreement
Borrower/Party A: Yida (Fujian) Tourism Group Limited
Lender/Party B: Industrial and Commercial Bank of China Limited, Yongtai Branch
Amount of loan: RMB 70 million
Purpose of loan: Yunding Park tourism destination development and construction
Loan period: 7 years
Interest: 6.40% per annum
Repayment schedule:
Repayment date
|
Repayment amount (RMB million)
|
Repayment date
|
Repayment amount (RMB million)
|
4/15/2011
|
0.5
|
10/15/2014
|
2
|
7/15/2011
|
1
|
1/15/2015
|
6.5
|
10/15/2011
|
1
|
4/15/2015
|
2
|
1/15/2012
|
2.5
|
7/15/2015
|
2.5
|
4/15/2012
|
1
|
10/15/2015
|
2.5
|
7/15/2012
|
1.5
|
1/15/2016
|
7
|
10/15/2012
|
1.5
|
4/15/2016
|
2
|
1/15/2013
|
3
|
7/15/2016
|
2.5
|
4/15/2013
|
1.5
|
10/15/2016
|
2.5
|
7/15/2013
|
2
|
1/15/2017
|
8
|
10/15/2013
|
2
|
4/15/2017
|
1
|
1/15/2014
|
5.5
|
7/15/2017
|
1
|
4/15/2014
|
1.5
|
10/15/2017
|
1
|
7/15/2014
|
2
|
12/15/2017
|
3
|
Guaranty: Secured by credit guarantee of its subsidiary, Fujian Jintai Tourism Developments Co., Ltd., and the right to collect resort ticket sales at Yunding Park as additional collateral.
Jurisdiction:
Laws of China
Dispute:
If there is any dispute between the parties, either party can resolve the dispute by the courts of Fuzhou City.
Date of the Agreement:
Jan. 26, 2011
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