Term Loan Agreement
EXHIBIT
10.2
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 Biological
Engineering Co., Ltd.
The
Lender and the Borrower have reached and signed a loan agreement which should
be
observed by both parties.
In
order
to support the business development of the Borrower, the Lender agrees to extend
the loan agreement that was signed on December 22, 2006, and makes the following
according amendments:
| 1. |
The
amount of the loan: XXX 000 million (US$
200,000,000);
|
| 2. |
The
term of the loan agreement: from July 1, 2007 to September 30,
2007;
|
| 3. |
The
type of the loan: short-term loan;
|
| 4. |
The
interest of the loan: at a rate that is equal to the contemporary
interest
rate for the same level of the loan published by the People’s Bank Of
China;
|
| 5. |
The
Borrower guarantees to repay the principal and interest of the
loan by
September 30, 2007, and the terms of the loan agreement shall not
be
breached.
|
| 6. | With approval from the Lender the Borrower can pay off the loan before September 30, 2007. The interest of the loan shall be calculated until the day on which the principal of the loan is repaid, and no fine shall be imposed on the Borrower for advancing the repayment of the loan. |
|
The
Lender:
|
The
Borrower:
|
||||
|
Tianjin
Tianshi Biological Development
Co.,
Ltd
|
Tianjin
Tianshi Biological Engineering
Co.,
Ltd
|
||||
|
By
|
/s/
Xxxxxxx Xx
|
By
|
/s/
Xxxxxx Xx
|
||
|
Title:
|
General
Manager
|
Title:
|
Director
|
||
|
June
26,
2007
|
June
26,
2007
|
||||
