Loan Agreement with Jinjiang Branch of Industrial Bank Co., Ltd. (No.:10417199-081209) for RMB10 million
Exhibit
10.33
Loan
Agreement with Jinjiang Branch of Industrial Bank Co., Ltd.
(No.:00000000-081209) for RMB10 million
Note:
This is a subcontract of General Credit Contract (No.: 10417199-081204), the
amount of which is RMB34 million effective from December 4, 2008 to December 3,
2009.
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Date:
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December
16, 2008
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Lender:
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Jinjiang
Branch of Industrial Bank Co., Ltd., located at Industrial Bank Building,
Chongde Road, Qingyang, Jinjiang City
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Borrower:
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Guanke,
located at Xiaban Industrial Park, Shuanggou, Meiling Residential
District, Jinjiang City
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Amount:
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RMB10
million
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Term:
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12
months from December 10, 2008 to December 9, 2009
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Interest
rate:
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Fixed
annual interest rate of 5.58%
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Interest
repayment:
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The
interest shall be determined at the 20th day of each month.
The borrower shall pay the accrued monthly interest the next day of the
interest determination date. The last sum of interest shall be paid at the
maturity date of principal
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Principal
repayment:
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The
principal of the loan should be paid in full on the maturity
date
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Security:
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The
loan is secured by the following security contracts:
1.
Maximum Amount Mortgage Contract (No.: gk-20081126002);
2.
Individual Security Statement (No.: 10417199-081204DB-1);
3.
Individual Security Statement (No.:
10417199-081204DB-2).
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Assignment:
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The
Borrower shall not assign part or all of its obligations under the loan
agreement to a third party without the prior written consent of the
Lender. The Lender may assign part or all of its rights and securities
under the loan agreement to a third party at any time.
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Disclosure
obligation:
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Upon
the occurrence of any major transaction or major events and other
conditions as described in the loan agreement, the Borrower should
disclosure such event in writing to the Lender in a timely
manner.
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Governing
law
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Laws
of the People’s Republic of
China
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