Loan Agreements
Exhibit 10.37
Party A: Guangdong Mingyang Wind Power Technology Co., Ltd.
Party B: Zhongshan Mingyang Electrical Appliance Co., Ltd.
Both parties agree on the following matters, signing this agreements.
| 1. | Party A shall lend 160 million RMB (160,000,000,00 RMB) to Party B before April 25, 2009. |
| 2. | Borrowing Rate: Interest shall be calculated at a 14.5% annualized rate (the combined annual ratio of Xxxx Xxxx Electric Appliance Plant paid to Industrial and Commercial Bank of China for loans collateralized with equity mortgages). |
| 3. | Borrowing Period: From April 10, 2009 to April 8, 2010 (If changed, both parties should negotiate). |
| 4. | Repayment Date and Method: It shall be repaid before April 8, 2010 (If the repayment term changed, both parties should negotiate to solve it). |
| 5. | Liability for Breach of Contract: Carry out according to Law of Contract. |
| 6. | This agreements comes into effect at the time when the funds arrives at Party A’s bank account. This agreements is made out in quadruplication and each party holds two. |
| Party A: Guangdong Mingyang Wind Power Technology Co., Ltd. |
Party B: Zhongshan Mingyang Electrical Appliance Co., Ltd. | |
| Representative of Party A: | Representative of Party B: | |
| Date: April 9, 2009 | Date: April 9, 2009 | |
