Loan Agreement (2)
Exhibit 10.4
Loan Agreement (2)
Summary of Loan Agreement by and between the Company and Agricultural Bank dated March 24, 2006
Main contents:
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Contract No: No. (81101200600000505) |
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Loan Amount (RMB) 40 million |
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Contract Term: March 24th, 2006 ~ September 24th, 2006 |
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Interest rate: fixed annual rate of 5.22%; |
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Payment of Interest: The interest of the principal shall be paid monthly, and the interest settlement date is on the twentieth date of each month. |
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Purpose of the loan is to purchase raw materials for the Company. |
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Liabilities of Breach of Contract Breach of contract penalty; withdrawal of loan, prepayment of principal and interest before maturity, attachment of assets; imposition of compound interest; lawyer’s fee and travel cost in case of litigation due to the Company ‘s breach of contract etc. |
Headlines of the articles omitted
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Outline of the loan |
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Condition precedent to the drawing of the loan |
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Rights and obligations of the lender |
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Rights and obligations of the borrower |
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Prepayment of the loan |
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Breach of Contract |
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Guaranty for the loan |
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Dispute settlement |
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Miscellaneous |
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Effectiveness |
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Validity |
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Attention |
