Loan agreement
Exhibit 10.15
Party A: Anhui Renrenjia Solar Energy Co., Ltd.
Party B: Anhui Haishuai Electronic Manufacture Co., Ltd
Both parties agreed upon the following terms.
| 1. | Purpose of the loan |
The money borrowed from Party A will be used to maintain company’s normal daily operation.
| 2. | Loan amount and repay schedule |
Party B borrows 13.5 million RMB from Party A, must be paid back before Jan 1st, 2013.
| 3. | Term of the loan |
The term of the loan is from Jan 1st, 2012 to Dec 31, 2012.
| 4. | Party B shall pay back the loan and interests according this agreement. After Party B pay back the loan in full, party A shall return this agreement to party B. |
| 5. | Interests |
The interest rate for this loan is 1.5% per month, if party B does not pay back the loan on time, the unpaid amount will be charged addition 0.5% interest per month.
| 6. | Rights and obligations |
Party A has the right to supervise the use of this loan, and value the pay back ability of Party B, party B shall provide all necessary documents if needed. If Party B uses the loan not according to this agreement, party A has the right to collect the remaining loan interest penalty.
| 7. | Promise terms |
| 1) | Party B voluntarily use real estate as mortgage for this loan, if party B can’t pay back the loan on time, party A has the right to dispose the mortgage. |
| 2) | Party B has to use the loan according to this agreement. |
| 3) | Party B shall pay back the loan and interest according to this agreement. |
| 8. | Enforcement terms and payback time |
| 1) | Both parties confirm that after signing this agreement, this agreement will be entitled for enforcement power. |
| 2) | The deadline for this loan is Jan 1st, 2013. Party B accepts the enforcement execution by the people court if the loan is past due. |
| 9. | Settlement solutions |
Both parties shall seek negotiator to solve the conflicts occurred during the term of this agreement. If the conflicts cannot be settled by the negotiator, either party can institute a law suit to the people’s court.
| 10. | The agreement will be in effect upon signature and stamp by both parties, each party holds one copy of this agreement. |
| 11. | Other unsettled issues not mentioned in this agreement shall be executed according to the contract law of the People’s Republic of China. |
| Party A: Anhui Renrenjia Solar Energy Co., Ltd. | |
| /s/ Anhui Renrenjia Solar Energy Co., Ltd. | |
| (corporate chop) | |
| Date: Jan 1st, 2012 | |
| Party B: Anhui Haishuai Electronic Manufacture Co., Ltd. | |
| /s/ Anhui Haishuai Electronic Manufacture Co., Ltd. | |
| (corporate chop) | |
| Date: Jan 1st, 2012 | |
