Exhibit 10.4
Term Loan Agreement
Party A (hereinafter referred to as the "Lender"): Tianjin Tianshi Biological
Development Co., Ltd.
Party B (hereinafter referred to as the "Borrower"): Tianjin Tianshi Group Co.,
Ltd.
The lender and the Borrower have reached and signed a loan agreement which
should be observed by both parties.
1. The Lender agrees to make a loan of RMB 8 million (Y8,000,000.00) to
the Borrower.
2. The term of this loan agreement is from September 7, 2005 to December
31, 2005.
3. The Borrower shall pay interest to the Lender at a rate that is equal
to the contemporary interest rate published by the People's Bank Of
China (rate per annual is equal to 5.22%). Interest shall be
calculated immediately after the principal of the loan is transferred
into the Borrower's account.
4. The Borrower guarantees to repay the principal and interest of the
loan by December 31, 2005, and terms of the loan agreement shall not
be breached.
5. Upon the approval by the lender the Borrower can pay off the principal
and interest of the loan before December 31, 2005.
The Lender: The Borrower:
Tianjin Tianshi Biological Development Tianjin Tianshi Group Co., Ltd.
Co., Ltd.
By /s/ Xxxxxxx Xx By /s/ Xxxxxx Xx
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Title: General Manager Title: Director
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September 7, 2005 September 7, 2005
