Share Transfer Agreement
Exhibit 10.6
Party
A:Guangxi
Liuzhou Baicaotang Medicine Ltd.
Legal
Representative:Tang
Huitian
Party
B:Liuzhou
Baicaotang Property Management Co., Ltd
Legal
Representative:Xxx
Xxxxxx
Whereas:
(1)
|
Party
A is presently the sole shareholder of Liuzhou Baicaotang Medicine Retail
Ltd. (“BCT
Retail”);
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(2)
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Party
A intends to transfer 51% of BCT Retail’s equities held by it to Party B
and Party B intends to accept such equity
transfer.
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Party A
and Party B hereby reach the following Share Transfer Agreement (“Agreement”):
1.
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Party
A agrees to transfer 51% shares of BCT Retail at the price of RMB153,000
(“Consideration”)
to Party B.
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2.
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Party
B will pay the Consideration in whole into the account appointed by Party
A no later than October 30, 2008 (“Closing
Day”).
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3.
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Within
twenty (20) business days from the date when Party B completely pay the
Consideration to Party A, the parties shall be responsible for amending
the Article of Association of BCT Retail and registering such equity
transfer with the competent Authority of Industry and Commerce (“AIC”).
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4.
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In
case Party B fails to complete the payment of Consideration on Closing
Day, Party A may have the right to, at its sole option, terminate this
Agreement or turn to Party B for
remedy.
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5.
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When
Party A request Party B to pay remedy, Party B shall pay to Party A 1% of
the total amount of Consideration for each day it delays after Closing
Day.
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6.
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Under
any circumstances, in case Party B fails to complete the payment of
Consideration within fifty (50) days after Closing Day, this Agreement is
terminated anyway and Party A may have the right to request Party B to
remedy any of its loss.
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1
7.
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Any
dispute arising out of the performance of this Agreement shall be mutually
negotiated between the parties. When failing to get a
consistent settlement, any party may submit such dispute to the People’s
Court of Liunan District, Liu Zhou City for
determination.
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8.
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The
terms and conditions set forth in herein should not be modified unless
written agreed by the parties.
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9.
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This
agreement is made in five counterparts with each party holding two copies,
and the other one copy will be submitted to competent AIC for registration
and filing. This Agreement shall become binding in the date
signed by the Parties.
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Party
A: Guangxi Liuzhou Baicaotang Medicine Ltd.
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Legal
Representative:
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Date:
April 1, 2008
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Party
B: Liuzhou Baicaotang Property Management Co., Ltd
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Legal
Representative:
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Date:
April 1, 2008
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2