This director’s loan agreement is made among the following parties on ____.
Exhibit 10.13
This
director’s loan agreement is made among the following parties on
____.
|
(A)
|
Borrower
: Guangxi Hefeng Pharmaceutical Co.
Limited
|
|
(B)
|
Lender
: Xx Xxxx Hua
|
Whereas:
|
|
Guangxi Hefeng Pharmaceutical Co.
Limited is in need of working capital and the parties are desirous
to enter into this agreement whereby Xx Xxxx Hua will advance a
loan
|
Now
therefore the Parties agree as follows:-
|
(1)
|
The
advance of the loan is for working capital purpose
;
|
|
(2)
|
The
use of loan is for purchase of raw materials
;
|
|
(3)
|
The
loan amount is equivalent of RMB____ and the term of loan is 12 months
from _____ to _____ which is the due date of the principle
loan;
|
|
(4)
|
Monthly
interest is __% and is accrued on monthly basis and to be settled on the
due date of the loan.
|
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(5)
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The
source of fund for repayment to be originated from net receipts of
sales
|
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(6)
|
Rights
and obligation
|
Part A
:
i Proper
use of loan in accordance with the terms set as therein
ii No
early repayment except from the consent of the Party B
|
|
iii
|
Accept
and assist the right of Party B for the investigation of the use of
loan
|
|
|
iv
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Repaying
in accordance with the terms as set out
therein
|
|
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v
|
Extension
of loan would be granted should consent of Party B is
obtained
|
|
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Party
B:
|
|
|
i
|
Have
the right to request Party A to repay the said loan at any time as think
fit
|
|
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ii
|
Have
the rights to request Party B to obtain all the information in connection
with the loan thereto.
|
|
|
iii
|
Advance
the loan to Party B at the time in accordance with the terms as set out in
above.
|
|
Party
A
For
and on behalf of
Hefeng
Pharmaceutical Co. Limited
|
Party
B
Xx
Xxxx Hua
|
|
By:
Xxx Xxxx Tang
__________________________
Xxx
Xxxx Xxxx
|
By:
Xxx Xxx Li
Xxx
Xxx Li
|
